Relocation intelligence

🇸🇬 Moving to Singapore: tax, residency and cost of living

Singapore applies a progressive resident income tax from 0 percent on the first SGD 20,000 up to a top rate of 24 percent above SGD 1,000,000 (YA2024 onwards). There is no capital gains tax, no wealth tax and no inheritance tax, and foreign-sourced income is largely untaxed under a territorial-style system. Foreign employees pay no CPF social contributions.

Thinking of moving to Singapore? Here is the tax, residency, property and quality-of-life picture in plain numbers, with sources.

Key facts

Top income tax
24%
Corporate tax
17%
Capital gains
0%
Wealth tax
No
Inheritance tax
No
Cost of living index
84
Safety
10/10
Internet quality
10/10
Visa-free destinations
192
Foreigners can own property
Yes
Residency in
0 months
Citizenship in
0 years

Taxes

Residents are taxed progressively from 0 to 24 percent (YA2024). Foreign income is only taxable if received in Singapore by a resident through a Singapore partnership. No capital gains, wealth or inheritance tax. GST is 9 percent.

Residency and visas

Residence usually starts with an Employment Pass; permanent residency is selective. Citizenship requires at least 2 years of PR, and dual nationality is not permitted. The Global Investor Programme offers an investment route to PR.

Property ownership

Foreigners may buy apartments and condos but pay 60 percent ABSD, while landed homes or HDB flats require government approval.

Cost of living and quality of life

Very safe, clean and efficient with excellent healthcare and internet, but cost of living and rents are among the highest in the world and the climate is hot and humid.

Passport and mobility

The passport ranks number one worldwide with visa-free access to 192 destinations (Henley 2026). Car ownership is very expensive due to the mandatory COE permit system.

Why people move to Singapore

  • No capital gains, wealth or inheritance tax

    Singapore levies no capital gains tax, no wealth tax and no inheritance tax, making it attractive for investors and entrepreneurs with accumulated assets.

  • Strongest passport and business hub

    The Singapore passport offers visa-free access to 192 destinations (Henley 2026, ranked number one worldwide) and the country is a leading financial and business hub with excellent infrastructure and safety.

Honest trade-offs

  • Buitenlanders betalen 60 procent Additional Buyer's Stamp Duty (ABSD) bovenop de reguliere zegelrechten bij aankoop van residentieel vastgoed, en mogen zonder overheidsgoedkeuring geen grondgebonden woningen of HDB-flats kopen.
  • Singapore behoort tot de duurste steden ter wereld om te wonen, met zeer hoge huren en een van de hoogste kosten voor autobezit door het COE-vergunningensysteem.
  • Permanente verblijfsvergunning is moeilijk te verkrijgen met lage goedkeuringspercentages, en Singapore staat geen dubbele nationaliteit toe, dus voor naturalisatie moet je je oorspronkelijke paspoort opgeven.
  • Het klimaat is het hele jaar warm en zeer vochtig met tropische luchtvochtigheid, wat voor veel Noord-Europeanen als benauwend wordt ervaren.

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Sources

Other destinations

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