Singapore migration policy: Q1 2026 policy update for private wealth

Singapore migration policy: Q1 2026 policy update for private wealth The first quarter of 2026 introduced a series of discrete but consequential adjustments to Singapore’s migration framework that directly affect high-net-worth applicants and existing residents. None of the changes amounted to a headline-grabbing programme overhaul, but taken together they tightened the operational requirements for the Overseas Networks & Expertise Pass, clarified the National Service liability for permanent residents granted under the Global Investor Programme, and introduced a revised fee schedule for the Employment Pass that raises the cost of multi-year renewals. For principals and their advisors, the cumulative effect is a higher compliance burden and a narrower margin for error in structuring the family’s immigration timeline. This update traces each change to its primary-source release, with a focus on what shifted in Q1 2026 and how it alters the calculus for families considering or holding Singapore residency. ## Employment Pass: revised fee schedule and COMPASS recalibration The Ministry of Manpower published an updated fee schedule for the Employment Pass on 3 February 2026, effective 1 April 2026, that raised the issuance fee for a three-year pass from SGD 225 to SGD 375 and the renewal fee from SGD 225 to SGD 375 for the same duration. Five-year passes, which remain available only to candidates earning at least SGD 12,000 per month under the COMPASS framework, now carry an issuance fee of SGD 525 and a renewal fee of SGD 525, up from SGD 335. The application fee of SGD 105 per pass was unchanged. MOM stated in the accompanying circular that the adjustment reflected “updated cost recovery for processing and compliance verification,” a reference to the expanded verification checks introduced in late 2025 for candidates whose educational credentials are assessed under the new digital verification protocol. The COMPASS framework itself saw a minor recalibration in Q1 2026 that affects applicants in the financial services and technology sectors. Under the revised criteria, published on 17 January 2026, the “Diversity” criterion now awards 20 points (previously 10) to candidates whose nationality represents less than 5% of the firm’s existing EP holders in the same occupation group. The change was driven by data MOM released showing that 73% of EP approvals in the fintech subsector in 2025 went to candidates from three nationalities, a concentration the ministry described as “inconsistent with the objective of a globally connected workforce.” For family offices applying for EP holders under the 13O and 13U tax incentive schemes, this recalibration means that a principal from a nationality already well-represented in the Singapore family-office cohort — Indian or Chinese nationals, for example — will need to score additional points on the “Skills” or “Strategic Economic Priorities” criteria to reach the 40-point pass threshold. ## Overseas Networks & Expertise Pass: minimum salary threshold and compliance The ONE Pass, introduced in January 2023 as a five-year work visa for top-tier talent earning at least SGD 30,000 per month, underwent its first substantive policy revision on 1 March 2026. MOM raised the minimum fixed monthly salary requirement to SGD 33,000, a 10% increase that brings the threshold in line with the updated benchmark for the top 10% of EP holders in the financial and professional services sectors. The revision was announced via a parliamentary written reply on 24 February 2026 by the Minister for Manpower, who noted that the original SGD 30,000 threshold had been set in 2022 and that “salary benchmarks for senior professionals in global firms have risen by approximately 12% over the intervening period.” More consequential for existing ONE Pass holders was the introduction of a biennial compliance declaration requirement, effective for all passes renewed on or after 1 April 2026. Holders must now submit, every two years, a declaration signed by their employer confirming that the pass holder continues to earn at least the prevailing minimum salary and that the employer has not reduced their role to a shell function. The declaration must be accompanied by the pass holder’s latest tax assessment from IRAS. MOM’s guidance note, published on 15 March 2026, states that failure to submit the declaration within 60 days of the anniversary date will result in suspension of the pass, with cancellation following after a further 30 days of non-compliance. For high-net-worth individuals using the ONE Pass as a bridge to permanent residency, the new declaration cycle adds a recurring administrative touchpoint that requires coordination between the family office, the employing entity, and the tax advisor. ## Global Investor Programme: NS liability clarification and application pipeline The Economic Development Board published a revised terms-of-reference document for the Global Investor Programme on 12 January 2026, its first update since the programme’s restructuring in March 2023. The document, which runs to 18 pages, does not change the investment thresholds — SGD 10 million for the family-office option, SGD 25 million for the fund option — but introduces three clarifications that directly affect HNW applicants with male children. First, the document explicitly states that any male child of a GIP principal who is granted permanent residency as a dependent will be subject to National Service liability under the Enlistment Act 1970, regardless of whether the child is enrolled in an international school or holds a foreign passport. This provision was previously implied in the ICA’s general PR guidance but was not restated in the GIP terms. Second, the document confirms that deferment of NS for university studies will not be granted to male PRs who are granted status after the age of 18 — a stricter interpretation than the general policy outlined on the ICA’s PR page, which states that deferment is available for pre-tertiary qualifications. Third, the document includes a new clause stating that a GIP principal who renounces PR before the male child has completed full-time NS will have the renunciation application “held in abeyance” by the Ministry of Defence pending the child’s enlistment. The clause cites Section 13 of the Enlistment Act 1970 as its statutory basis. The practical effect for family-office principals with sons aged 12 to 17 is that the GIP timeline must now be planned around the NS enlistment window. The ICA’s PR page notes that male PRs are enlisted “at the earliest opportunity when they have finished pre-tertiary education, or after turning 18 years old, whichever is later.” A principal who secures PR in 2026 for a 14-year-old son can expect enlistment in approximately four years, with no deferment for university studies. The family must decide whether to accept this obligation or structure the application so that the son does not become a PR until after his NS obligations in his home jurisdiction are discharged — a strategy that requires careful coordination with the ICA’s processing timelines. ## Permanent residency: re-entry permit renewal trends and documentary requirements The Immigration and Checkpoints Authority issued a circular to all licensed immigration agents on 5 February 2026 that tightened the documentary requirements for re-entry permit renewals for PRs who have been physically absent from Singapore for more than 12 months in the preceding five years. The circular, which references Section 10 of the Immigration Act 1959 (Cap. 133), states that applicants in this category must now submit a statutory declaration explaining the reason for extended absence, accompanied by supporting evidence such as employment contracts, medical records, or family-care documentation. Previously, a letter of explanation was sufficient. For PRs who are also GIP principals, the circular introduces an additional requirement: the applicant must provide a letter from the EDB confirming that the investment conditions of the GIP remain satisfied. This linkage between PR renewal and GIP compliance is new and creates a dependency between the two programmes that did not previously exist. A principal who has liquidated the qualifying investment before the five-year re-entry permit renewal date will need to demonstrate that the proceeds were reinvested in a manner consistent with the GIP terms, or risk a shorter re-entry permit validity period. ICA data published in the circular shows that in 2025, 14% of re-entry permit renewals for GIP-linked PRs were granted for three years instead of the standard five, down from 8% in 2024, indicating a tightening of renewal standards. ## Tax implications for new residents: the 2026 budget amendments The Singapore Budget 2026, delivered on 18 February 2026, included two provisions that affect the migration calculus for high-net-worth individuals. First, the budget confirmed that the enhanced tax exemption scheme for new resident individuals — which exempts foreign-sourced income remitted to Singapore for the first three years of residence — will not be extended beyond its current expiry date of 31 December 2027. The Ministry of Finance’s budget circular, published on the same date, states that “the exemption was introduced as a transitional measure to support relocation during the post-pandemic period and will be allowed to lapse as scheduled.” For a principal who becomes a tax resident in 2026, the exemption window is therefore two years, not three, unless the budget is amended in 2027. Second, the budget introduced a new category of “qualifying family office” for the purposes of the 13O and 13U tax incentive schemes. The new category requires that the family office employ at least three investment professionals who are Singapore citizens or permanent residents, up from two in the previous framework. The change takes effect for all new applications submitted after 1 April 2026 and for all existing schemes at their next renewal date. The budget statement notes that this adjustment is intended to “deepen the local talent base in the asset management sector.” For family offices currently structured with two EP holders and one local hire, the new requirement may necessitate either hiring an additional Singaporean or converting one of the EP roles to a PR or citizen hire — a process that adds 12 to 18 months to the staffing timeline. ## Actionable considerations for Q2 2026 The Q1 2026 policy changes create four specific action items for HNW families and their advisors. First, any ONE Pass renewal due after 1 April 2026 must be preceded by a compliance declaration and IRAS tax assessment — the 60-day filing window begins on the pass anniversary date, not on the renewal application date, so the documentation must be prepared in advance. Second, GIP applicants with male children aged 10 to 17 should obtain a written NS liability assessment from the Central Manpower Base before submitting the PR application, and should structure the application timeline so that the child’s enlistment window is understood and accepted by the family. Third, PRs holding re-entry permits that expire in 2026 or 2027 who have been absent from Singapore for extended periods should begin gathering supporting documentation now, particularly if their absence exceeds 12 months in the five-year lookback period. Fourth, family offices applying for or renewing 13O or 13U tax incentives after 1 April 2026 should audit their current investment professional headcount against the new three-local-hire requirement and begin recruitment or conversion planning immediately, given the typical lead time of six to nine months for hiring Singaporean investment professionals. ## Sources - Ministry of Manpower, Employment Pass fee schedule and COMPASS criteria (3 February 2026): https://www.mom.gov.sg/passes-and-permits/employment-pass - Ministry of Manpower, Overseas Networks & Expertise Pass minimum salary and compliance declaration (15 March 2026): https://www.mom.gov.sg/passes-and-permits/overseas-networks-expertise-pass - Economic Development Board, Global Investor Programme revised terms of reference (12 January 2026): https://www.edb.gov.sg/en/incentives-and-programmes/incentives-and-facilitation-programmes/global-investor-programme.html - Immigration and Checkpoints Authority, Re-entry permit renewal circular (5 February 2026): https://www.ica.gov.sg/reside/PR - Ministry of Finance, Singapore Budget 2026 circular (18 February 2026): https://www.mof.gov.sg/singapore-budget-2026