Singapore
Asia’s wealth hub with territorial-style taxation, no capital gains tax, and the Global Investor Programme.
The position in figures.
Headline treatment for an individual tax resident. Source, asset and treaty rules can change the payable result.
Where the jurisdiction fits.
Best for
- Family offices: dedicated 13O/13U tax exemptions for SFOs
- Asia-focused entrepreneurs and investors with SGD-denominated wealth
- HNWIs comfortable with strict regulatory environments
- Founders raising in ASEAN markets and seeking strong English-language legal infrastructure
Consider carefully
- Anyone who wants citizenship — Singapore citizenship is rare and requires renouncing other passports
- Buyers expecting cheap property — ABSD on foreign buyers is 60%
- Cost-sensitive applicants — GIP increased to SGD 10M in 2023
Programmes that matter.
Global Investor Programme (GIP)
Permanent residence via SGD 10M business investment, SGD 25M family office (with SGD 200M AUM target), or SGD 50M into an approved fund. Tightened materially in March 2023; demand remains high.
Family Office Schemes (13O / 13U)
13O: SGD 20M+ AUM, exemption on designated investments. 13U: SGD 50M+ AUM, broader exemption. Both require local employment, business spending, and Singapore-based fund administration.
Employment Pass / Entrepreneur Pass
Employment Pass for skilled professionals earning SGD 5,000+/month (more for older applicants). EntrePass for founders building scalable, innovation-driven businesses with backing or IP.
Pitfalls to resolve early.
- 01
Foreign-source income remitted to Singapore can be taxable for individuals — the territorial principle is narrower than commonly believed.
- 02
Property is heavily taxed: foreign buyers pay 60% Additional Buyer’s Stamp Duty on residential property since April 2023.
- 03
Pillar Two GloBE rules (15% minimum effective tax) take effect for in-scope groups from 2025, eroding the headline corporate-tax appeal.
- 04
Cryptocurrency professional trading is taxable; passive holding is generally untaxed, with strict classification.
- 05
Singapore citizenship requires renouncing other citizenships; PR is renewable but not automatic.
Direct answers.
Does Singapore tax foreign-source income?
For individuals, foreign-source income received in Singapore is generally not taxed, with limited exceptions. For companies, the position is more nuanced and changed materially with the 2024 amendments to align with BEPS 2.0.
How do I get Singapore PR?
Most foreigners use the Employment Pass route, then apply for PR after building a track record. The Global Investor Programme provides a direct PR route with a SGD 10M minimum and is highly selective.
Is there capital gains tax in Singapore?
There is no capital gains tax regime. However, gains from frequent trading or business-like activity can be reclassified as taxable trading income — IRAS uses a "badges of trade" test.
How does the family office scheme work?
Sections 13O and 13U of the Income Tax Act exempt qualifying investment income for single-family offices meeting AUM, local spend, employment, and capital deployment criteria. Approval is via MAS.
Can I bring my family on a Singapore Pass?
Yes — Dependant Passes are available for spouses and children under 21, with Long-Term Visit Passes for parents (subject to approval and EP salary thresholds).
Continue the comparison.
Put Singapore against your current position.
See a first-order comparison, then bring the open questions to your advisor.