Relocating from London to Singapore is one of the most common career moves in global finance. The city-state’s status as Asia’s leading financial hub, its straightforward English-medium business environment, its progressive personal tax structure, and its clear pathway to Permanent Residence have made Singapore the default destination for finance professionals leaving the UK. Yet the practical details — the right work pass, the tax transition, the realistic cost of living, and what to expect from the Singapore market — are often only dimly understood before arrival.
This guide covers the complete London-to-Singapore move for finance professionals: the Employment Pass you will need, the salary thresholds that apply specifically to financial services roles, the tax reset you gain on arrival, the housing and schooling reality, and the PR pathway that most professionals eventually pursue.
Which Work Pass Do Finance Professionals from London Need?
Most finance professionals relocating from London to Singapore will apply for an Employment Pass (EP). The EP is the standard work authorisation for foreign professionals in managerial, executive, and specialist roles. As at July 2026, per the Ministry of Manpower, the minimum qualifying salary for an Employment Pass in the Financial Services sector is SGD 6,200 per month — higher than the SGD 5,600 per month that applies to most other sectors. This financial services premium reflects Singapore’s deliberate policy of attracting high-quality talent into the sector.
From 1 January 2027, the EP qualifying salary for financial services rises further to SGD 6,600 per month for new applications, with age-progressive thresholds reaching SGD 12,700 per month for applicants aged 45 and above. Finance professionals planning a Singapore move in late 2026 should be mindful of this window: an application submitted before 1 January 2027 is assessed at current thresholds.
Senior Finance Professionals: ONE Pass and PEP
Finance professionals at the director level and above who have earned a fixed monthly salary of at least SGD 30,000 from a single employer over the preceding 12 months may qualify for the Overseas Networks & Expertise (ONE) Pass. The ONE Pass is Singapore’s flagship talent pass: five-year validity, no requirement to be tied to a single employer, freedom to work for multiple companies or start your own business, and exemption from the COMPASS scoring framework that regular EP applications must satisfy.
For senior finance professionals with a last drawn fixed monthly salary above SGD 22,500 who already hold (or recently held) an Employment Pass, the Personalised Employment Pass (PEP) offers three years of employer-free status. The PEP does not require a new application each time you change employer — a significant advantage for those exploring the Singapore market before committing to a firm.
The Tax Reset: From UK Rates to Singapore Rates
For most London-based finance professionals, the single most compelling financial argument for Singapore is the personal income tax position. Per the Inland Revenue Authority of Singapore (IRAS), Singapore taxes resident individuals at progressive rates from 0% on the first SGD 20,000 of chargeable income up to 24% on income above SGD 1,000,000 for Year of Assessment 2026.
Compare this with the UK position: the top rate of income tax in the UK is 45% on income above £125,140, with an additional 2% National Insurance contribution on earnings above £50,270. A London-based finance professional earning the equivalent of SGD 300,000 per year (approximately £175,000) faces a marginal rate exceeding 47% in the UK. The equivalent Singapore resident tax on that income sits at approximately 18–20%, inclusive of no National Insurance equivalent.
What Singapore Does Not Tax
Two structural advantages stand out for finance professionals specifically. First, Singapore has no capital gains tax. Proceeds from the sale of equities, investment properties, cryptocurrency, and other capital assets are generally not subject to tax in Singapore for individuals, regardless of holding period or size of gain. For finance professionals who hold significant equity compensation, restricted stock units (RSUs), or investment portfolios, this is a material annual saving. Second, Singapore has no inheritance tax. Wealth transferred on death is not taxed at the Singapore level, in stark contrast to the UK’s 40% inheritance tax on estates above £325,000.
Foreign-sourced income remitted to Singapore is generally exempt from tax for individuals (subject to limited exceptions for income from partnerships). UK pension income, dividends from UK-listed stocks, and rental income from UK property are typically not subject to Singapore income tax when received by a Singapore tax resident.
The UK-Singapore Double Taxation Agreement governs how income is taxed across both jurisdictions. Finance professionals should obtain advice on the interaction of the UK’s “split year” treatment and Singapore’s 183-day residency rule. Our guide on Singapore tax residency and the 183-day rule covers this transition in detail.
Cost of Living: London vs Singapore for Finance Professionals
Singapore and London are comparable in overall cost of living at the senior professional level, but the expense profile is different. Our 2026 cost of living guide for Singapore expats provides full numbers; the headline comparisons for finance professionals are as follows.
Housing
A two-bedroom condominium in the central Singapore districts (9, 10, 11 — the Orchard and Bukit Timah corridors favoured by finance professionals) rents for SGD 5,500–9,000 per month. A comparable two-bedroom flat in zones 1–2 of Central London runs £3,500–6,000 per month. At current exchange rates (approximately SGD 1.70 to GBP 1.00 as at mid-2026), Singapore private housing is modestly cheaper than equivalent London property. Families willing to accept a shorter commute by living in Bishan, Novena, or the East Coast can find larger units for SGD 3,500–5,500 per month. Singapore imposes a 60% Additional Buyer’s Stamp Duty (ABSD) on foreigners who purchase residential property, making renting the practical choice for the first several years.
Transport
Singapore’s MRT system covers the island effectively and costs a fraction of London’s equivalent. A monthly unlimited travel card in London exceeds £200 per month; in Singapore, a monthly MRT and bus commute for a CBD worker rarely exceeds SGD 120 per month. Car ownership is extremely expensive in Singapore due to the Certificate of Entitlement (COE) system — a family car inclusive of COE currently costs SGD 200,000–250,000 — but many finance professionals in Singapore choose not to own a car, relying on the MRT and grab/taxi services.
Schooling
For families with children, international school fees are the largest single cost differential versus London. Singapore’s top international schools — Tanglin Trust, UWCSEA, Dulwich College, Stamford American International School — charge annual fees of SGD 40,000–65,000 per child per year. These schools offer IB, British, and American curricula, and their academic standards are internationally recognised. Apply at least six to nine months ahead of your planned move date; popular year groups at the best schools have multi-year waitlists.
Relocation Timeline: What to Plan and When
A realistic London-to-Singapore relocation for a finance professional joining a Singapore-entity employer runs as follows. The employer submits the EP application after the offer letter is issued; MOM processing currently takes three to eight weeks for most applications. Factor in a minimum of two months from offer acceptance to first day in Singapore — and three months if you have a family and children’s school applications are pending.
UK notice periods at senior finance roles are typically three to six months. This actually provides planning time: use the notice period to complete school applications in Singapore, arrange temporary housing for the first month, and prepare the tax documentation IRAS will require for your Year of Assessment registration. Arrive with at least three years of UK P60s and HMRC correspondence — this supports both your IRAS registration and your eventual Singapore PR application.
The Singapore Finance Job Market for UK Professionals
Singapore’s financial services sector spans private banking and wealth management, asset management (particularly for family offices and sovereign wealth mandates), corporate and investment banking, insurance and reinsurance, fintech, and compliance and risk. The market is concentrated in the Marina Bay and Raffles Place CBD, with secondary clusters in One-North (fintech) and the Singapore River precinct.
UK finance professionals are generally competitive in the Singapore private banking, risk and compliance, and structured finance markets, where the combination of CFA or ACCA/CA qualifications with significant UK deal or client experience is valued. Relationships matter: networking before arrival — via LinkedIn, industry associations, and Singapore Finance Association events — materially accelerates placement timelines versus arriving and searching cold.
Permanent Residence: The Next Step After the EP
Most finance professionals who move to Singapore from London with the intention of staying long-term begin their Permanent Residence journey after two to three years. The ICA assesses each PR application holistically — salary, CPF history, IRAS tax trail, length of residency, family profile, and community involvement. For a detailed explanation of how ICA weighs each factor, see our guide on the ICA holistic assessment for Singapore PR.
Finance professionals at the SGD 10,000+ monthly salary level with three or more years of clean CPF and NOA history are well-placed for PR approval. The annual PR intake is increasing to approximately 40,000 per year between 2026 and 2030, a positive signal for well-qualified applicants. After PR, the citizenship pathway typically takes a further two to three years, subject to integration evidence and the ICA’s assessment.
Starting Your Singapore Move
Little Big Employment Agency (LBEA) is a MOM-licensed employment agency (Licence 19C9790) specialising in work pass applications for finance professionals relocating to Singapore. We handle the EP application, EP renewals, PEP and ONE Pass assessments, and the eventual PR filing — taking the immigration administration off your plate so you can focus on the job. Contact us at Singapore Employment Agency to discuss your move.
For incorporation, accounting, and corporate secretarial services once you are in Singapore — whether for a family office structure, an SPV, or a Singapore-based advisory practice — our partner firm Raffles Corporate Services provides the full range of post-arrival business setup support.
— The Editorial Team, Little Big Employment Agency