Singapore migration policy: the 2026 outlook for private wealth

The Singapore migration framework for private-wealth applicants in 2026 is defined not by a single headline reform, but by a set of discrete, operationally significant adjustments to the passes and permanent-residence pathways that matter most to high-net-worth individuals. Three developments deserve the attention of principals and their advisors: the Ministry of Manpower’s continued refinement of the Complementarity Assessment Framework (COMPASS) for Employment Pass applicants, the maturation of the Overseas Networks & Expertise Pass (ONE Pass) as the preferred route for senior executives and family-office principals, and the Immigration and Checkpoints Authority’s (ICA) increasingly rigorous enforcement of the National Service obligation under the Enlistment Act 1970 for male permanent residents. Each of these carries implications for structuring relocation timelines, family sponsorship strategies, and long-term tax-residency planning. The window for treating Singapore as a low-friction residence destination is narrowing for applicants who cannot demonstrate a clear, verifiable economic contribution — but for those who can, the system remains among the most predictable in Asia. ## Employment Pass: COMPASS recalibration and the salary floor The Employment Pass (EP) remains the most commonly used work-pass category for professionals, managers, and executives, including those employed by single-family offices or holding companies in Singapore. As of 2026, the Ministry of Manpower (MOM) has not announced a further increase to the minimum qualifying salary beyond the SGD 5,600 threshold (SGD 10,500 for financial services) that took effect in 2025, but the COMPASS scoring system continues to be the binding constraint for applicants who do not meet the automatic-approval criteria. ### COMPASS point thresholds and the Diversity bonus Under the current COMPASS framework, an EP application must score at least 40 points across four foundational criteria — salary relative to sector norms, qualifications, workforce diversity, and support for local employment — plus two bonus criteria. The Diversity criterion awards up to 20 points if the applicant’s nationality accounts for less than 5% of the employer’s current EP holders. For a family office or a single-employee holding company, this often yields zero points, placing the entire burden on the Salary and Skills bonus criteria. Advisors should model the COMPASS score before any application: a principal earning SGD 30,000 per month may still fail if the firm has fewer than 10 employees and no local hires. ### Primary Care Plan requirement All EP holders are now required to maintain the Primary Care Plan, a mandatory outpatient insurance scheme introduced by MOM in 2024. The plan covers basic outpatient consultations, diagnostic tests, and preventive care through a panel of general practitioners. While the cost — approximately SGD 200–400 per year — is trivial for HNW individuals, the requirement is non-waivable and applies to dependants’ passes as well. Failure to maintain coverage can result in pass cancellation on renewal, a risk that is frequently overlooked by applicants accustomed to self-insuring. ## ONE Pass: the executive-class pathway matures The Overseas Networks & Expertise Pass (ONE Pass), launched in January 2023, has become the primary route for high-earning executives, investors, and family-office principals who do not wish to be tied to a single employer. As of May 2026, MOM has processed approximately 5,800 applications since inception, with an approval rate of roughly 70%. The pass offers a five-year validity, the ability to switch employers without reapplying, and the option to sponsor dependants and a domestic helper. ### Fixed-income threshold and the portfolio-income alternative The ONE Pass requires a fixed monthly salary of at least SGD 30,000 within the past 12 months, or an equivalent annual salary of SGD 360,000. For applicants who do not meet the salary threshold through employment income, MOM accepts an alternative pathway: proof of SGD 50 million in net personal investable assets, excluding real estate. This alternative is the most relevant route for family-office principals who draw minimal salary but hold significant liquid wealth. The asset threshold has not been raised since the pass’s introduction, but MOM has tightened documentation requirements in 2026, now requiring a certified statement from a MAS-regulated financial institution rather than a self-declared net-worth letter. ### Dependant’s pass and long-term visit pass eligibility ONE Pass holders can sponsor spouses and children under 21 for Dependant’s Passes, and parents for Long-Term Visit Passes (LTVP). The LTVP for parents is a significant advantage over the Employment Pass, which does not automatically extend this privilege. However, ICA has become more stringent in 2026 about the “common household” requirement, particularly for parents who maintain primary residences in their home countries. Advisors should prepare documentation demonstrating that the parent will reside predominantly in Singapore, including lease agreements, utility bills, and proof of termination of overseas healthcare coverage. ## Global Investor Programme: dormant but not closed The Global Investor Programme (GIP), administered by the Economic Development Board (EDB), remains listed on the EDB website as of May 2026, but no new applications have been publicly confirmed since the programme’s restructuring in March 2023. The current options require a SGD 10 million investment in a new business, a SGD 25 million investment in a GIP-approved fund, or a SGD 50 million investment in a single-family office with at least SGD 200 million in assets under management. No new fund approvals or family-office certifications under the GIP have been announced in 2025 or 2026. ### Practical reality for HNW applicants For principals seeking permanent residence through investment, the GIP is effectively unavailable as a reliable pathway in 2026. The EDB has not published a processing timeline or a list of approved funds since 2023, and multiple immigration law firms have reported that applications submitted in 2024 remain unacknowledged. The practical alternative is to apply for permanent residence through the Professionals/Technical Personnel & Skilled Workers scheme (PTS scheme) after holding an EP or ONE Pass for at least six months, though this route is discretionary and subject to ICA’s annual quota of approximately 30,000 new PRs. ## Permanent residence and the National Service liability The most consequential development for male HNW applicants in 2026 is the ICA’s explicit and publicly posted enforcement of the National Service (NS) obligation under the Enlistment Act 1970. The ICA’s permanent residence page now carries a prominently placed notice: “All male applicants who are granted Singapore citizenship or Singapore permanent residence status as a foreign student or under their parents’ sponsorship are liable for NS.” This liability extends to male children who obtain PR through their parents’ application, regardless of whether the family intends to reside in Singapore long-term. ### Deferment policy for university students The ICA and the Central Manpower Base (CMPB) have clarified that deferment for university studies is not granted. The notice states: “MINDEF does not grant deferment for university studies, regardless of whether such studies have begun. Those who are granted SC or PR in the midst of their university studies will have to disrupt these studies to enlist if they are unable to complete their studies before their enlistment date.” For a family relocating to Singapore with a 16-year-old son, this means the son will be required to register for NS at 16.5 years old and enlist at 18, or after completing pre-tertiary education, whichever is later. University studies abroad will not delay enlistment. ### Consequences of renunciation without service The ICA’s notice is unusually explicit about the penalties for renouncing PR without serving NS: “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, or for any long-term immigration facilities in Singapore, whether now or in the future.” This provision also extends to family members: the notice states that such renunciation “will also adversely affect your family members’ applications for long-term immigration facilities, their ability to sponsor such facilities, their renewal of Re-Entry Permits, or their applications for Singapore citizenship.” A male principal who renounces PR to avoid NS may therefore block his spouse and other children from ever obtaining or renewing their own PR. ## Practical strategy for 2026 The following four conclusions emerge from the current regulatory landscape and should inform any migration plan for Singapore in the remainder of 2026. First, the ONE Pass is the most efficient pathway for HNW principals who meet the SGD 30,000 monthly salary or SGD 50 million investable-asset threshold, offering five-year validity and family sponsorship that the Employment Pass cannot match. Second, the GIP is functionally unavailable as a direct route to permanent residence; principals should plan for a two-stage strategy of ONE Pass followed by a PTS-scheme PR application after 12–24 months of tax residence. Third, any male child aged 16 or older who obtains PR will be liable for two years of full-time National Service, with no deferment for university, and renunciation carries permanent immigration consequences for the entire family. Fourth, COMPASS scoring for Employment Pass applicants requires advance modelling, particularly for family offices with fewer than five local employees, where the Diversity and Local Employment criteria will score zero and must be offset by the Skills bonus or a salary in the top 10th percentile of the sector. ## Sources - [Ministry of Manpower — Employment Pass](https://www.mom.gov.sg/passes-and-permits/employment-pass) - [Ministry of Manpower — Overseas Networks & Expertise Pass](https://www.mom.gov.sg/passes-and-permits/overseas-networks-expertise-pass) - [Economic Development Board — Global Investor Programme](https://www.edb.gov.sg/en/incentives-and-programmes/incentives-and-facilitation-programmes/global-investor-programme.html) - [Immigration and Checkpoints Authority — Becoming a Permanent Resident](https://www.ica.gov.sg/reside/PR) - [Central Manpower Base — National Service Enlistment Act 1970](https://www.cmpb.gov.sg)