Expats see wealth gains but face cross-border complexity

96% of expats in Singapore earn more than they would at home, but many struggle with currency volatility and tax rules.

Expats in Singapore are staying overseas longer and building wealth faster, but cross-border financial complexity is becoming a growing challenge, according to St. James’s Place’s Money on the Move 2026 report.

The study found that 78% of expats in Singapore expect to live abroad for at least eight years, whilst 54% have stayed overseas longer than expected. Half said they are likely to return to their home country only upon retirement, and 16% said they are unlikely to return at all.

Wealthier expats are more likely to stay overseas permanently. About 31% of high-net-worth respondents said they do not expect to return home, more than double the 14% recorded amongst mass affluent and affluent respondents combined.

Living abroad has also improved financial outcomes for most respondents. About 96% of expats in Singapore said they earn more than they would in a similar role in their home country, whilst 97% said their monthly savings have increased.

The report found that 57% said achieving financial freedom would have taken at least five years longer if they had not lived abroad. Another 59% believe their time overseas will allow them to retire at least three years earlier.

However, the financial benefits come with added complexity. Currency volatility was the top barrier to effective wealth management, cited by 85% of expats. This was followed by limited access to preferred investment products at 83%, and cross-border regulations and taxes at 82%.

Singapore’s tax and regulatory environment remains a major factor in relocation decisions. Around 89% cited taxation policies as a reason for choosing Singapore, whilst 87% pointed to residency permits and visa rules.

Financial literacy also remains a concern. Only 27% of Singapore expats consider themselves highly financially literate, even though those with stronger financial literacy were more likely to hold diversified portfolios, prepare for wealth succession, seek advice in both home and host markets, and report improved financial positions.

Professional advice is becoming more important as wealth becomes more mobile. About 53% of respondents rely on professional advice to manage international finances. Expats estimated that seeking advice earlier could have helped them avoid US$9,744 in annual financial losses.

The report also found that working with a financial adviser saves expats an average of 4.2 hours per month, or 6.3 working days per year.

Retirement and succession planning are also becoming cross-border priorities. Amongst expats unlikely to return home, 80% have included multi-jurisdictional assets in their wills, whilst 56% cited tax optimisation as the top driver of succession and inheritance planning.

The findings were based on a double-blind survey of 450 affluent and high-net-worth residents in Singapore who have lived and worked across multiple jurisdictions. Fieldwork was completed in May 2026.