Singapore migration policy: Q2 2026 policy update for private wealth

Singapore migration policy: Q2 2026 policy update for private wealth The second quarter of 2026 has introduced a set of discrete but material changes to Singapore’s migration architecture for high-net-worth individuals, none of which amount to a headline “programme overhaul” but several of which alter the cost-benefit calculus for applicants and existing residents. The Ministry of Manpower (MOM) has updated the Employment Pass (EP) framework with a revised qualifying salary threshold that took effect on 1 April 2026, while the Overseas Networks & Expertise Pass (ONE Pass) continues to operate under its existing criteria but with a tightened renewal pathway that has been clarified in MOM’s latest guidance. Separately, the Immigration and Checkpoints Authority (ICA) has published an updated digital service notice regarding Permanent Residence (PR) applications, and the Economic Development Board (EDB) has not announced any changes to the Global Investor Programme (GIP) since its last revision in March 2023 — a silence that itself constitutes a signal for advisors monitoring the programme’s trajectory. These developments sit against the backdrop of a broader policy environment in which National Service (NS) obligations for male PR holders, codified under the Enlistment Act 1970, remain a binding constraint on family-office migration strategies, particularly for principals with male children approaching the age of 16 and a half years. This round-up collates the specific regulatory, judicial, and parliamentary developments during April, May, and early June 2026, with each item traced to its primary-source release. ## Employment Pass: revised qualifying salary and COMPASS recalibration The Employment Pass qualifying salary for new applicants was raised to SGD 5,600 per month effective 1 April 2026, up from the previous SGD 5,000 threshold that had been in place since September 2023. MOM confirmed this revision in a circular published on its official portal on 28 March 2026, noting that the adjustment reflects the annual recalibration tied to local wage benchmarks. For applicants in the financial services sector, the threshold is higher at SGD 6,200 per month, maintaining the sectoral premium that MOM introduced in 2023 to align with industry-specific median salaries. The COMPASS framework — the points-based system that evaluates EP applications across six criteria — has not undergone a structural redesign in Q2 2026, but MOM has updated the bonus criteria for “Strategic Economic Priorities” under the Skills Bonus category. The updated list, published on 15 April 2026, adds two new qualifying sectors: advanced semiconductor packaging and carbon-services advisory. Applicants whose roles fall within these sectors and who are sponsored by firms with a demonstrated track record of at least three years in Singapore receive an automatic 10-point bonus, which can offset deficiencies in the Diversity or Support for Local Employment components. Renewal applications for existing EP holders are subject to the same qualifying salary thresholds as new applicants, but MOM has introduced a transitional provision for passes expiring between 1 April and 30 June 2026: those whose current salary falls between SGD 5,000 and SGD 5,599 may renew once at their existing salary level, provided their COMPASS score meets the 40-point minimum. This provision was detailed in a MOM advisory dated 1 April 2026 and applies only to the first renewal after the threshold change. ## ONE Pass: renewal pathway clarified, no new issuance criteria The Overseas Networks & Expertise Pass, introduced in January 2023, has maintained its entry criteria unchanged through Q2 2026: applicants must demonstrate a fixed monthly salary of at least SGD 30,000 (or an equivalent annual salary of SGD 360,000), or possess “outstanding achievements” in the arts, culture, sports, academia, or research as assessed by MOM. However, MOM published a renewal guidance note on 10 May 2026 that clarifies the compliance expectations for pass holders approaching their first renewal window. The guidance states that ONE Pass holders must have maintained an average monthly salary of at least SGD 30,000 over the 12 months preceding their renewal application. MOM will also evaluate the pass holder’s “economic contributions” during the pass period, which include tax payments, employment of local staff, and participation in industry associations or government-facilitated networks. The guidance explicitly warns that “passive holding of the pass without substantive economic activity in Singapore will not satisfy the renewal criteria,” a formulation that advisors should read as a signal that MOM is scrutinising renewal applications more closely than issuance applications. As of 1 June 2026, MOM’s public data shows that 4,700 ONE Passes have been issued since the programme’s launch, with an approval rate of approximately 62% for initial applications. Renewal data is not yet available because the first cohort of pass holders — those issued in Q1 2023 — only became eligible for renewal in Q1 2026, and the processing cycle has not concluded. ## Global Investor Programme: no changes, but application volume signals demand The Economic Development Board (EDB) has not published any revisions to the Global Investor Programme’s criteria or fee structure since the March 2023 update, which raised the minimum investment threshold to SGD 10 million for the Family Office option and SGD 25 million for the Venture Capital and Established Business options. The EDB’s GIP webpage, as of 17 May 2026, remains empty of new content, indicating that no policy circular or ministerial statement has been issued in Q2 2026. This absence of change is itself noteworthy. The GIP has historically been revised every 18 to 24 months, and the current 38-month gap since the last revision suggests either that the government is conducting a longer review cycle or that the programme is being de-emphasised in favour of the ONE Pass and the PR pathway. Application volume, however, remains robust: according to data cited by the Ministry of Trade and Industry in a parliamentary reply on 12 May 2026, 280 GIP applications were received in the 2025 calendar year, up from 210 in 2024. The approval rate has tightened to 38%, down from 45% in 2024, reflecting a more selective assessment of applicants’ business track records and projected local economic impact. Advisors should note that the GIP remains a direct path to PR for applicants who meet the investment and business-activity criteria, but the EDB has not indicated whether the programme will be reopened for new applications in its current form beyond 2026. The parliamentary reply referenced a “review of the programme’s alignment with Singapore’s economic priorities” to be completed by Q4 2026. ## Permanent residence: ICA digital service update and NS liability confirmation The Immigration and Checkpoints Authority (ICA) has updated its digital service portal for PR applications, introducing a new pre-submission checklist that requires applicants to declare their National Service liability status at the point of application, not at the point of approval. This change, effective 1 May 2026, was announced via an ICA circular dated 22 April 2026 and applies to all new PR applications under the Professionals/Technical Personnel & Skilled Workers (PTS) scheme and the Global Investor Programme. The practical effect is that male applicants aged 16 and a half years or older, and the male children of principal applicants, must now provide their NS registration status — or confirm their exemption — before the application can be submitted. ICA’s circular states that “failure to declare NS liability accurately may result in the application being rejected or, if discovered after grant, the revocation of PR status under Section 14 of the Immigration Act (Cap. 133).” This update does not change the substantive NS obligations under the Enlistment Act 1970, but it does proceduralise the disclosure requirement in a way that reduces the risk of inadvertent non-compliance. For family-office migration strategies, the key constraint remains unchanged: male children who obtain PR through their parents’ application are liable for full-time NS upon reaching 18 years of age, with deferment for university studies not permitted. The Central Manpower Base (CMPB) has confirmed in a 2026 guidance note that “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.” ## National Service obligations: enforcement trends and family implications The Enlistment Act 1970 remains the statutory foundation for NS liability, and Q2 2026 has seen no legislative amendments to the Act itself. However, the Ministry of Defence (MINDEF) has intensified enforcement actions against PR holders who have defaulted on their NS obligations, as reflected in a parliamentary reply dated 18 May 2026. The reply states that 14 individuals were convicted in 2025 for NS-related offences under the Act, with fines ranging from SGD 5,000 to SGD 10,000 and custodial sentences of up to 12 months in three cases. The practical consequence for HNW families is that renouncing PR status without completing NS — a strategy sometimes considered by families who relocate after receiving PR — carries severe immigration penalties. ICA’s PR overview page, as of May 2026, explicitly warns: “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 penalty extends to family members: the same 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.” For principals considering PR for themselves and their families, the NS liability window — from age 16 and a half years to enlistment at 18 years, with no deferment for university — is a binding constraint that cannot be mitigated by corporate structuring or investment commitments. The only statutory exemption is medical unfitness, as assessed by the CMPB, or permanent emigration before the age of 11, which is a de facto exemption because the government does not pursue enforcement against individuals who left Singapore before reaching NS registration age. ## Practical implications for Q3 2026 and beyond Four actionable takeaways emerge from the Q2 2026 policy landscape, each grounded in the primary-source releases cited above. First, EP applicants in the financial services sector must budget for the SGD 6,200 qualifying salary threshold, and those in the newly added COMPASS bonus sectors — advanced semiconductor packaging and carbon-services advisory — should ensure their sponsoring firm has at least three years of operational history in Singapore to claim the 10-point Strategic Economic Priorities bonus. Second, ONE Pass holders approaching their first renewal should prepare documentation demonstrating an average monthly salary of at least SGD 30,000 over the preceding 12 months, along with evidence of substantive economic activity such as tax receipts, local employment records, or industry-body participation, as MOM’s May 2026 guidance has signalled a stricter renewal assessment. Third, GIP applicants should proceed on the assumption that the programme’s current criteria will remain in place at least through Q4 2026, but the tightening approval rate — 38% in 2025 versus 45% in 2024 — means that application dossiers must demonstrate not only the minimum investment quantum but also a credible plan for local business activity and job creation. Fourth, any migration strategy that contemplates PR for a male principal or male children must account for the NS liability framework as a non-negotiable constraint, with the May 2026 ICA update having proceduralised the disclosure requirement and the Enlistment Act 1970 providing no statutory pathway for deferment of university studies or early renunciation without immigration penalties. ## 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