“Money on the Move 2026” Report: 96% Earn More Than in Home Country, 97% Save More Each Month
Financial advisory group St. James’s Place Asia recently released its “Money on the Move 2026” report, based on a double‑blind survey of 450 affluent and high‑net‑worth expatriates aged 25 to 54 who have lived and worked across multiple jurisdictions. The findings show that Singapore’s low tax burden and high income advantages continue to attract global high‑net‑worth talent, though expatriates also face increasingly complex cross‑border financial planning challenges while enjoying these financial benefits.
Tax Policy as the Top Attraction
The report reveals that 89% of respondents cited Singapore’s tax policies as a key factor in their decision to relocate. At the same time, 87% ranked Singapore’s residence permits and visa arrangements as another major consideration. Singapore adopts a territorial tax principle, under which foreign‑source income is generally not taxed before it is remitted into the country. Personal income tax for residents is levied at progressive rates, with a top marginal rate of 24%. Unlike many developed economies, Singapore does not impose capital gains tax, dividend tax, wealth tax, or inheritance tax. This tax framework provides significant tax optimisation opportunities for expatriates and has become a core factor driving the influx of internationally mobile talent.
Income and Savings Both See Big Increases
The report shows that the financial gains from relocating to Singapore are substantial. 96% of respondents said they earn more in Singapore than in comparable positions in their home countries, and 97% reported an increase in monthly savings.
These financial gains are accelerating expatriates’ progress toward their life goals. 57% said that without moving to Singapore, it would have taken them at least five more years to achieve financial freedom, while 59% believe their overseas experience will allow them to retire at least three years earlier. In addition, 93% of respondents feel that living abroad will accelerate their journey to financial freedom, and 83% expect to retire earlier.
Longer Stays and Stronger Intentions to Settle
The report found that expatriates tend to stay in Singapore longer than originally planned. About 78% expect to live abroad for at least eight years, and 54% said they have already stayed overseas longer than they initially intended.
Looking ahead, half of respondents said they would likely return to their home countries only upon retirement, while 16% stated they have no plans to go back at all. Among high‑net‑worth expatriates, the inclination toward permanent settlement abroad is even stronger – about 31% of high‑net‑worth respondents do not plan to return, compared to only 14% among affluent and middle‑affluent respondents.
Cross‑Border Financial Challenges Cannot Be Overlooked
Despite the notable financial gains, expatriates face numerous hurdles in managing their cross‑border wealth. 85% cited currency fluctuations as their biggest challenge, 83% reported difficulty in accessing preferred investment products, and 82% pointed to the complexity of cross‑border tax and regulatory compliance. Singapore’s high cost of living was also cited as a significant challenge by 82% of respondents.
Notably, while respondents overall possess relatively high levels of wealth, their financial literacy is comparatively low – only 27% rated themselves as having high financial knowledge. 53% rely on professional financial advisors to manage their international finances. Respondents estimated that they could have avoided an average of US$9,744 in financial losses per year if they had sought professional advice earlier.
In terms of estate planning, among those who do not plan to return home, 80% have included assets from multiple jurisdictions in their wills, and 56% regard tax optimisation as the primary factor influencing their inheritance and succession planning.
Oliver Wickham, Director of Partnerships for Asia and the Middle East at St. James’s Place, said that Singapore continues to offer expatriates strong economic opportunities, but managing an increasingly international financial life requires professional expertise. As global high‑net‑worth talent continues to flow in, striking a balance between Singapore’s tax advantages and the complexities of cross‑border finance will remain a long‑term challenge for expatriates.