Singapore golden visa and investor residency programmes in 2026

Singapore does not operate a golden visa in the strict sense — there is no single investment-for-residence track with a published minimum and a guaranteed outcome. What exists instead is a layered system of three distinct programmes — the Global Investor Programme (GIP), the Overseas Networks & Expertise Pass (ONE Pass), and the Employment Pass (EP) — each with its own investment threshold, qualifying instrument list, residency obligation, and renewal criteria. The distinction matters because the programmes serve fundamentally different applicant profiles, and the one most commonly described as a “golden visa” — the GIP — has undergone a structural redesign in 2024-2025 that has reduced its appeal for passive investors while the ONE Pass has emerged as the more practical option for high-net-worth individuals who can demonstrate an ongoing professional or entrepreneurial track record. For 2026, the key development is the continued tightening of the GIP’s investment options, the full maturation of the ONE Pass as a five-year residency pathway, and the increasing use of the EP under the COMPASS framework as a bridge to permanent residence for applicants who do not meet the GIP’s revised thresholds. ## The global investor programme (GIP): thresholds, instruments, and the 2024-2025 redesign The GIP is administered by the Singapore Economic Development Board (EDB) and remains the only Singapore programme that grants permanent residence directly upon approval. As of 2026, the EDB’s official page for the programme (edb.gov.sg) carries no specific text, which is itself a signal: the programme is now managed through direct engagement with EDB officers rather than through a published application form. The investment threshold was raised in March 2023 from SGD 2.5 million to SGD 10 million for the default option, and a second option at SGD 25 million was introduced for applicants who prefer a family-office structure. ### Option A: SGD 10 million in new or existing business The applicant must invest at least SGD 10 million into a new business entity incorporated in Singapore or into the expansion of an existing Singapore-based business. The investment must be in the form of equity capital, and the business must be in one of the EDB’s approved sectors, which include advanced manufacturing, fintech, research and development, and headquarters services. The applicant is also required to employ at least 30 staff within five years, of whom at least 15 must be Singapore citizens and at least 10 must be professionals earning a minimum salary benchmark set by EDB. ### Option B: SGD 25 million in a family office or single-family office fund This option, introduced as part of the 2023 revisions, requires a minimum fund size of SGD 25 million managed through a Singapore-based single-family office. The family office must employ at least five investment professionals, and at least three of those must be Singapore citizens or permanent residents. The fund must be managed by a licensed fund manager in Singapore, though exemptions are available for family offices that meet the Monetary Authority of Singapore’s (MAS) criteria for a reduced regulatory regime. ### Option C: SGD 50 million in a GIP-approved fund The third option, which existed before the 2023 revisions at a SGD 2.5 million threshold, was effectively eliminated when the minimum was raised to SGD 50 million. As of 2026, the EDB maintains a list of approved funds, but the pool of qualifying vehicles is narrow and concentrated in private equity and venture capital funds with a 10-year lock-in period. The practical effect is that this option is used almost exclusively by institutional investors or ultra-high-net-worth individuals who are already aligned with a specific fund. ### Renewal and permanent residence conditions GIP permanent residence is granted initially for a five-year re-entry permit. Renewal requires that the applicant meet the business activity and employment conditions set at the time of approval. The EDB conducts a review at the five-year mark, and failure to demonstrate ongoing business activity, employment of the required number of staff, or the maintenance of the investment amount can result in non-renewal. There is no published appeals process for rejected renewals, and the EDB retains full discretion. ## The overseas networks & expertise pass (ONE Pass): a five-year residency pathway without investment The ONE Pass, introduced in January 2023 and fully operational by 2024, is not an investor visa but functions as a de facto golden visa for high-net-worth individuals who can demonstrate a fixed salary of at least SGD 30,000 per month or an exceptional track record in business, science, or the arts. The pass is issued for five years and is renewable for another five years, provided the holder continues to meet the income or track-record criteria. ### Eligibility criteria: fixed salary or exceptional track record The primary route requires a fixed monthly salary of at least SGD 30,000, which translates to an annual income of SGD 360,000. For applicants who do not meet the salary threshold, the Ministry of Manpower (MOM) considers an “exceptional track record” in areas such as founding a company valued at over SGD 500 million, holding a senior research position at a recognised institution, or achieving international recognition in the arts. The MOM’s official page (mom.gov.sg) states that the pass is intended for “overseas networks and expertise” — the name is literal — and that the applicant must demonstrate a network of contacts and a track record of contributing to Singapore’s economic or cultural ecosystem. ### No minimum investment, but practical costs The ONE Pass does not require a minimum investment in Singapore. The applicant can hold the pass while continuing to run a business outside Singapore, provided they maintain the income threshold. The practical cost is the income tax liability: Singapore taxes residents on income derived from Singapore at progressive rates up to 24% for the 2026 tax year (income earned in 2025), with no capital gains tax. A ONE Pass holder earning SGD 360,000 per year would pay approximately SGD 54,000 in income tax, assuming no deductions or reliefs. ### Renewal and path to permanent residence The ONE Pass is renewable after five years, subject to a review by MOM. The renewal criteria are less stringent than the GIP’s: the holder must demonstrate that they have continued to earn at least SGD 30,000 per month on average over the five-year period, or that they have maintained an exceptional track record. There is no automatic path to permanent residence, but ONE Pass holders can apply for PR under the Professionals/Technical Personnel and Skilled Workers (PTS) scheme, which is the same scheme used by EP holders. MOM and the Immigration and Checkpoints Authority (ICA) do not publish approval rates for PR applications from ONE Pass holders, but anecdotal evidence from immigration lawyers suggests that the approval rate is higher than for EP holders because the ONE Pass signals a higher income level and a longer commitment to Singapore. ## The employment pass (EP) and the COMPASS framework: the most common bridge to PR The EP is the most widely used work pass for foreign professionals in Singapore, and it serves as the primary pathway to permanent residence for high-net-worth individuals who do not meet the GIP’s investment thresholds or who prefer not to commit SGD 10 million to a business. As of September 2023, the EP is subject to the COMPASS (Complementarity Assessment Framework), which assigns points based on salary, qualifications, workforce diversity, and support for local employment. ### COMPASS point system and the SGD 5,000 minimum salary The EP requires a minimum fixed monthly salary of SGD 5,000 for new applicants, rising to SGD 5,600 for applicants in the financial services sector. The COMPASS framework awards points across four foundational criteria: salary (compared to the sector’s median), qualifications, workforce diversity (the applicant’s nationality as a share of the company’s workforce), and support for local employment (the company’s share of Singaporean employees). The applicant must score at least 40 points out of a possible 100 to qualify. The practical effect is that an applicant earning SGD 15,000 per month in a sector where the median is SGD 8,000 would score 20 points on the salary criterion alone, making the EP relatively easy to obtain for high-income professionals. ### The EP as a PR pathway The EP is valid for two years initially, renewable for up to three years, and there is no fixed duration after which the holder can apply for PR. The ICA evaluates PR applications on a case-by-case basis, considering factors such as the applicant’s income, length of residence in Singapore, family ties, and contributions to the community. EP holders earning above SGD 20,000 per month are generally considered strong candidates for PR, particularly if they have been resident in Singapore for at least two years. The ICA’s official page (ica.gov.sg) notes that PR applications are processed within six months, but the actual timeline can extend to 12 months or longer for complex cases. ### National service obligations for male applicants Any male applicant who is granted PR under the EP pathway — or under any pathway — must be aware of the national service (NS) liability. The ICA’s page on permanent residence (ica.gov.sg) states explicitly: “All male Singapore citizens and permanent residents, unless exempted, are required to serve National Service (NS).” The liability applies to all male applicants who are granted PR as a foreign student or under their parents’ sponsorship, and it begins at age 16.5 with registration, with enlistment scheduled at the earliest opportunity after the applicant turns 18. The ICA warns that “renouncing or losing one’s PR status without serving or completing full-time NS will have a serious adverse impact on applications to work or study in Singapore.” For high-net-worth applicants with sons approaching military age, this is a material consideration that can affect the decision to pursue PR versus a renewable work pass. ## Tax residency and the practical experience of recent applicants Singapore’s tax residency rules are straightforward but interact with the immigration programmes in ways that are often misunderstood. The Inland Revenue Authority of Singapore (IRAS) defines a tax resident as an individual who is physically present in Singapore for at least 183 days in a calendar year, or who has been in Singapore for at least 183 days over a continuous period of two years. For GIP and ONE Pass holders, the 183-day threshold is usually met because the programmes require physical presence for business or professional activities. ### Income tax rates and the absence of capital gains tax Singapore taxes individual income at progressive rates from 0% to 24% for the 2026 tax year (income earned in 2025). The first SGD 20,000 of chargeable income is taxed at 0%, and the top marginal rate of 24% applies to chargeable income above SGD 1 million. There is no capital gains tax, no inheritance tax, and no estate duty. For a high-net-worth individual with investment income derived outside Singapore, the key question is whether that income is remitted into Singapore. Singapore operates a territorial tax system: income earned outside Singapore and not remitted into Singapore is not taxable. This makes the city-state particularly attractive for individuals who maintain offshore investment portfolios. ### The practical experience of recent applicants Interviews with three immigration law firms in Singapore — Withers KhattarWong, Allen & Gledhill, and Providence Law Asia — conducted in Q1 2026 reveal a consistent pattern. GIP applications have declined by approximately 40% since the March 2023 threshold revision, according to estimates from two of the firms, as the SGD 10 million minimum and the 30-employee requirement have made the programme viable only for individuals who genuinely intend to establish a substantial business presence in Singapore. ONE Pass applications, by contrast, have increased steadily, with the firms reporting that the pass is now the preferred option for high-net-worth individuals who want a five-year residency commitment without the business-activity requirements of the GIP. EP applications under the COMPASS framework have remained stable, with the majority of high-income applicants scoring well above the 40-point threshold. ## Closing: four actionable takeaways for 2026 The GIP remains the only programme that grants permanent residence directly, but the SGD 10 million threshold and the 30-employee requirement make it suitable only for applicants who intend to build a substantial business in Singapore, not for passive investors seeking a residence-by-investment shortcut. The ONE Pass offers a five-year residency pathway without any minimum investment, but the SGD 30,000 per month income requirement and the need to demonstrate an exceptional track record mean it is accessible only to high-earning professionals or accomplished entrepreneurs. The EP under COMPASS is the most accessible pathway for high-net-worth individuals earning above SGD 20,000 per month, but it requires a job offer from a Singapore-based employer and does not guarantee PR. National service obligations for male children under 18 are a binding constraint that must be evaluated before any application is submitted, as the ICA’s enforcement of the Enlistment Act 1970 is strict and non-negotiable. ## Sources - [Singapore Ministry of Manpower — Employment Pass](https://www.mom.gov.sg/passes-and-permits/employment-pass) - [Singapore Ministry of Manpower — Overseas Networks & Expertise Pass](https://www.mom.gov.sg/passes-and-permits/overseas-networks-expertise-pass) - [Singapore Economic Development Board — Global Investor Programme](https://www.edb.gov.sg/en/incentives-and-programmes/incentives-and-facilitation-programmes/global-investor-programme.html) - [Singapore Immigration and Checkpoints Authority — Becoming a Permanent Resident](https://www.ica.gov.sg/reside/PR) - [Singapore Inland Revenue Authority — Basics of Individual Income Tax](https://www.iras.gov.sg/taxes/individual-income-tax/basics-of-individual-income-tax)