Every year, several thousand finance professionals make the move from London to Singapore — and the numbers are accelerating. The combination of Singapore’s territorial tax system, its position as Asia’s premier financial centre, and its stable regulatory environment has made it the default relocation choice for bankers, fund managers, wealth advisers and fintech founders whose career gravity has shifted east. If you are considering this move in 2026, this guide covers every material consideration: the Employment Pass, the tax reset, housing, schooling, banking setup, and what to expect from the Singapore finance job market.
The move is genuinely transformative on a number of financial metrics — but it is not cost-free or frictionless. Understanding what changes and what you still pay for is the foundation of a sound decision. For a full breakdown of what expat life costs once you land, see our guide to the cost of living in Singapore for expats in 2026.
I. The Employment Pass for Singapore Finance Professionals
Your first step is securing a valid work pass. For a finance professional relocating to Singapore, the default route is the Employment Pass (EP). Per the Ministry of Manpower, the qualifying salary for a new EP application in the financial services sector is SGD 6,200 per month as at 1 July 2026. This threshold rises progressively with age: a candidate aged 35 needs a materially higher salary than the absolute floor, and by age 45 and above the threshold reaches SGD 11,800 per month for financial services.
COMPASS Points Assessment
Most EP applicants must also pass the Complementarity Assessment Framework (COMPASS), a points-based system requiring a minimum score of 40. Candidates earning SGD 22,500 per month or more are automatically exempt from COMPASS. For those who must score, salary relative to peers, qualifications, firm-level diversity, and local employment support are the key criteria. Our guide to the COMPASS framework explains how points are calculated and where most finance applications succeed or fail.
From 1 January 2027, the EP qualifying salary for financial services will rise to SGD 6,600 per month for new applications, with the age-45 ceiling rising to SGD 12,700. If you are mid-process, locking in approval before year-end at 2026 thresholds is worth considering.
PEP and ONE Pass for Senior Professionals
Senior professionals earning above SGD 22,500 per month may find the Personalised Employment Pass (PEP) or the ONE Pass more appropriate. The PEP is employer-independent (up to six months between roles) and requires a last-drawn fixed monthly salary of at least SGD 22,500. The ONE Pass — designed for top global talent — requires a fixed monthly salary of SGD 30,000 or above, or recognised outstanding achievement. Both eliminate the COMPASS re-scoring burden on renewal.
II. The Tax Reset: UK vs Singapore
The tax differential between London and Singapore is the single most cited reason for the move. The comparison is stark. In the UK, income above £125,140 (approximately SGD 212,000) is taxed at 45%, with National Insurance adding a further 2% on earnings above approximately £50,000. A finance professional earning £200,000 in London faces an effective tax burden of approximately 42–48% depending on personal reliefs, before accounting for the loss of the personal allowance above £100,000.
Singapore applies a top marginal rate of 24% on chargeable income above SGD 1,000,000 — a threshold most finance professionals do not reach. The effective rate for a professional earning the equivalent of £200,000 (roughly SGD 340,000 per year) in Singapore is typically 13–17% depending on reliefs. The IRAS individual income tax rate table confirms that Singapore’s highest bracket — 24% — applies only to income above SGD 1,000,000, with rates of 15–22% on the bands most UK-Singapore relocating professionals occupy.
Additional advantages of Singapore’s tax treatment include no capital gains tax, no inheritance tax, and no tax on foreign-sourced income remitted to Singapore (for individuals). Bonuses — including the large year-end bonuses common in finance — are taxed as ordinary income at your marginal rate, which at Singapore levels represents a significant improvement over the UK position.
CPF for Permanent Residents
Once you become a Singapore PR, CPF contributions apply. At the outset, new PRs contribute at reduced rates (typically year 1: 5% employee / 5% employer, rising to full rates by year 3). Full rates are 20% employee / 17% employer for those under 55, capped at a monthly salary ceiling of SGD 7,400. This is a mandatory savings mechanism rather than a tax — the contributions accrue in your CPF account for housing, healthcare and retirement — but it does reduce take-home pay.
III. Singapore’s Finance Job Market
Singapore’s financial services sector employs over 170,000 people and generated approximately SGD 17 billion in value-added in 2024, per the Monetary Authority of Singapore. The MAS has consistently supported the growth of Singapore as a global wealth management hub — over 2,000 single family offices were registered in Singapore by the end of 2024.
Hiring demand in 2026 remains strong in private banking, wealth management, fintech, digital assets (where MAS has established a clear licensing framework), risk and compliance, and ESG finance. Global banks with substantial Singapore operations include DBS, OCBC, UOB, Standard Chartered, Citi, JPMorgan, Goldman Sachs, UBS, and Credit Suisse (now UBS post-acquisition). For professionals whose roles can be structured as employers sponsored or self-employed, the EP vs PEP vs ONE Pass comparison is essential reading before settling on the right pass structure.
IV. Housing Considerations for London Finance Professionals
Finance professionals relocating from London typically target private condominiums in the Core Central Region (Districts 9, 10, 11 — Orchard, Holland Village, Bukit Timah) or the Novena/Bishan corridor for good international school access. Representative 2026 rents for a 3-bedroom condominium run SGD 8,000–14,000 per month in the CCR and SGD 5,500–9,000 per month in the RCR. These figures are comparable to high-quality London flats in Zone 1–2, though Singapore properties typically include pool, gym, and security-guard facilities as standard.
A meaningful difference from London: Singapore’s private residential leases typically run for two years with a two-month security deposit. Diplomacy clauses — allowing early termination with notice if your employer requires relocation — are negotiable and advisable for finance professionals whose assignments may change. Foreigners may purchase private condominiums in Singapore (not HDB public housing) but face an Additional Buyer’s Stamp Duty of 60% as a non-permanent-resident foreigner — making renting considerably more cost-effective during the initial years before PR is secured.
V. Schooling for Families
London finance professionals relocating with school-age children will find Singapore’s international school landscape familiar in terms of curriculum options. UK curriculum schools (British Council, Tanglin Trust, ACS International, Dover Court) are popular and highly regarded. Annual tuition at premium British curriculum schools runs SGD 35,000–48,000 per child. Our dedicated Singapore schools guide for expats covers the full range of options from IB to hybrid local-international pathways, which can significantly reduce costs for families willing to consider them.
VI. Banking, Driving and Practical Setup
Opening a Singapore bank account requires your Employment Pass card (not just the in-principle approval), so bank setup happens after your pass is issued rather than before arrival. Major banks for expat banking include DBS, OCBC, Citibank and HSBC. Online account opening has improved significantly; most standard accounts can be set up within a few days of pass issuance.
Singapore drives on the left, which eases the transition for UK professionals. A valid UK driving licence can be converted to a Singapore licence without a driving test, provided it is current and not provisional. Singapore’s COE system makes car ownership significantly more expensive than in the UK — many finance professionals rely on the excellent MRT network and Grab for daily commuting.
VII. Making the Move
The London to Singapore finance professional relocation typically takes three to five months from the decision point to the first working day in Singapore: employer engagement and offer letter, EP application (allow three to six weeks from submission), pass issuance, shipping or storage of household goods, school applications, and rental search. Starting school applications early — particularly for British curriculum schools, which can have 12–18 month waitlists — is critical.
If your employer has initiated or is considering the move, the team at Singapore Employment Agency — the consumer brand of Little Big Employment Agency Pte Ltd (Licence 19C9790) — provides end-to-end Employment Pass and PEP services for finance professionals and their employers. For incorporation if you are setting up a Singapore entity or family office structure alongside your move, Raffles Corporate Services handles the full range of Singapore corporate and secretarial services.
— The Editorial Team, Little Big Employment Agency