Each year, hundreds of finance professionals swap the grey skies of London for Singapore’s equatorial skyline — and in 2026 the numbers are climbing. A combination of lower personal tax, Asia-Pacific deal flow and a stable legal framework has made Singapore the default base for regional heads of banking, private equity, asset management and fintech firms that were once content to run Asia from London. If you are weighing up a London to Singapore relocation, this guide covers everything from your Employment Pass eligibility to the first-month cost stack.
Why Finance Professionals Are Choosing Singapore Over London in 2026
Singapore’s top personal income tax rate is 24% — applied only on chargeable income above SGD 1 million — compared to the UK’s 45% additional rate on income above £125,140. For a professional earning the equivalent of £200,000, that difference compounds to tens of thousands of pounds per year. Add zero capital gains tax, no inheritance tax and no dividend tax, and the arithmetic for high-earning finance professionals is compelling.
Beyond tax, Singapore sits at the centre of the fastest-growing wealth pools in the world. Family offices, sovereign wealth funds, private credit platforms and digital asset firms are hiring aggressively. Senior finance professionals who want exposure to Southeast Asian, Indian and Chinese deal flow increasingly find that Singapore — not Hong Kong, not London — is where the mandates are awarded.
Singapore’s finance sector is regulated by the Monetary Authority of Singapore (MAS) and the regulatory environment, while exacting, is well-defined and business-oriented. For those familiar with the FCA in London, the transition is manageable. Many firms also offer relocation packages that absorb a significant portion of the initial move costs.
Employment Pass: The Standard Visa Route for Finance Professionals
Most UK finance professionals relocating to Singapore will use the Employment Pass (EP) — Singapore’s work pass for foreign professionals, managers and executives in skilled roles. As at 26 August 2026, per the Ministry of Manpower (MOM), the qualifying salary for a new EP application in the financial services sector is SGD 6,200 per month, rising to SGD 6,600 from 1 January 2027.
If you earn above that floor, your application is also assessed under the COMPASS framework — a points-based system scored across salary benchmarking, qualifications, nationality diversity at your employer, local workforce support and sector bonus criteria. Candidates earning SGD 22,500 or above are COMPASS-exempt. For most senior finance hires from London, COMPASS is not the obstacle; the risk is a salary offer that falls below the financial services threshold. See our detailed COMPASS framework guide to understand how your profile scores before applying.
PEP and ONE Pass: Higher-Tier Options
If you already hold an EP and earn at least SGD 22,500 per month, you may qualify for the Personalised Employment Pass (PEP), which allows you to change employers without a fresh pass application. At the very top of the income range — fixed compensation of SGD 30,000 or above per month — the Overseas Networks and Expertise (ONE) Pass is available, providing a five-year pass with the right to start a concurrent business. Our EP vs PEP vs ONE Pass comparison helps you identify which pass fits your career stage.
Singapore Tax Compared to the UK: What Finance Professionals Actually Save
Singapore’s personal income tax for residents is progressive from 0% to 24%, with no tax on the first SGD 20,000 of chargeable income. The UK’s equivalent top rate is 45% on income above £125,140 (with an additional 2% National Insurance Contribution). For a finance professional earning SGD 20,000 per month (approximately £11,500 at current rates), the annual Singapore tax bill at resident rates is roughly SGD 35,000 — compared to the UK equivalent exceeding £80,000. There is no capital gains tax in Singapore, which benefits professionals with share options, carried interest or property gains.
You become a Singapore tax resident if you work in Singapore for 183 days or more in a calendar year, or if you are a Permanent Resident. Non-residents pay a flat 15% on employment income or the resident rate with reliefs, whichever is higher. The full rate schedule is published by the Inland Revenue Authority of Singapore (IRAS). Our Singapore personal income tax guide for expats covers available deductions and reliefs in detail.
Housing Costs: What to Budget for Your First Year
Singapore housing runs considerably above London expectations. A two-bedroom condominium in the central districts (Orchard Road, River Valley, Robertson Quay, Holland Village) will cost SGD 5,000 to SGD 9,000 per month. Three-bedroom units in the same area range from SGD 7,000 to SGD 14,000. Expatriate finance hires relocating with families typically receive a monthly housing allowance of SGD 3,000 to SGD 6,000 from their employer; confirm what your package covers before you search.
A single professional arriving without a housing allowance should budget SGD 2,500 to SGD 4,000 per month for a one-bedroom in a mid-range condominium outside the central business district — Tiong Bahru, East Coast or the West side near one-north. Utility costs add SGD 150 to SGD 300 per month. Most landlords require a security deposit of one to three months’ rent upfront. For an end-to-end cost breakdown once you are settled, see our cost of living in Singapore guide for expats in 2026.
Pre-Arrival Cash Stack: What You Need Before Your First Paycheck
A single professional relocating from London to Singapore should have approximately SGD 25,000 to SGD 40,000 in accessible cash before arrival. That budget covers security deposit and advance rent (SGD 8,000–18,000), flights and shipping of personal effects (SGD 3,000–8,000), settling-in costs such as furniture, appliances and a local SIM (SGD 3,000–6,000), and a buffer for the gap before your first Singapore salary arrives. A family with school-age children should add SGD 15,000 to SGD 30,000 for international school enrolment fees and the first semester’s advance payment. Our guide to Singapore schools for expat families covers international, local MOE and hybrid school options.
Banking and Financial Setup on Arrival
Opening a Singapore bank account before arrival is now possible through most major local banks (DBS, OCBC, UOB) via digital onboarding, though EP holders typically need to present their physical pass in-branch to unlock full services. Your EP salary is subject to Singapore personal income tax but not to the Central Provident Fund (CPF) — CPF is mandatory only for Singapore Citizens and Permanent Residents. If you later obtain PR status, CPF contributions become mandatory at graduated rates for the first two years and at the full citizen rate from year three onwards.
Most firms hiring senior finance professionals from London structure remuneration in SGD. If your package includes a UK-side component — unvested Long-Term Incentive Plan awards or a UK bonus tranche — take advice on the interaction between UK and Singapore tax. The UK may assert taxing rights on employment income earned during the UK period of a split tax year. IRAS publishes guidance on double taxation relief under the UK–Singapore tax treaty.
Pathway to Singapore PR and Long-Term Settlement
Employment Pass holders who intend to settle permanently in Singapore should plan their Permanent Residency (PR) application. The most common scheme for finance professionals is the Professionals, Technical Personnel and Skilled Workers (PTS) scheme, submitted to the Immigration and Checkpoints Authority (ICA). ICA’s holistic assessment typically rewards three to five years of EP residency, a clean tax record, CPF history (once PR is obtained), and community integration. Our Singapore PR pathway guide for 2026 sets out the full assessment framework, and our analysis of realistic PR approval odds by salary band provides a frank read on probabilities.
Conclusion: Making Your London to Singapore Relocation Work
A London to Singapore relocation for a finance professional is one of the most well-trodden expat routes in the world, and Singapore’s legal, regulatory and financial infrastructure makes the mechanics relatively predictable. The critical decisions — securing the right pass category, negotiating a housing allowance, choosing schools for children, and planning the PR pathway — benefit enormously from specialist guidance.
Singapore Employment Agency, the consumer brand of Little Big Employment Agency Pte Ltd (MOM Licence 19C9790), provides end-to-end Employment Pass, S Pass and PR application services for professionals and their employers. For incorporation, corporate secretarial and tax structuring to support your move, Raffles Corporate Services is the trusted partner for Singapore company formation and compliance.
— The Editorial Team, Little Big Employment Agency