Wealth management in Singapore

“Alexis, I am being transferred to Singapore with my family. I am keeping our flat in Lyon and my company shares. What do I need to sort out before I leave?”

Three things, and the first is the exit tax: for Singapore, deferral of payment is not automatic. If your securities exceed €800,000, or if you hold at least 50% of the profits of a company, you must provide guarantees before leaving.

Singapore has 11,498 French nationals on the consular register as of 31 December 2025, against 12,196 a year earlier (−5.7%). The community remains one of the largest in Asia, made up mainly of internationally mobile executives and business owners.

The applicable treaty is that of 15 January 2015, which replaced the 1974 treaty for income received from 1st January 2017. It covers income tax only: nothing governs inheritance. At Balmont Conseil, we start from this text, read article by article.

1. Why seek expert wealth management in Singapore?

Four points decide your position, and two of them stem from the very wording of the treaty.

The exit tax requires guarantees. Singapore exchanges information with France but does not assist it with tax recovery: deferral must be requested, with a tax representative in France.
No nationality criterion in the treaty. If you have a home in both countries and your centre of vital interests does not settle the matter, the treaty moves straight from habitual abode to agreement between the tax authorities (Article 4 § 2). No fallback criterion: your residence file is built from the day you arrive.
What is not remitted. Article 22 limits French benefits where Singapore taxes French-source income only on the part remitted to or received in Singapore: the French exemption or reduction then applies only to that part.
Your estate. No convention governs it: France applies article 750 ter of the general tax code, without conventional correction.

2. The France ↔ Singapore framework in five verified points

Here is the applicable framework, checked against official sources as at 1st October 2026.

French nationals on the register	11,498 at 31 December 2025 (−5.7% year on year).
Income tax treaty	Yes — treaty of 15 January 2015, applicable since 1st January 2017, replacing that of 1974. It covers income tax only, and contains its own anti-abuse clause (Article 28).
Estate tax treaty	No. No convention governs inheritances or gifts between France and Singapore: Article 750 ter of the General Tax Code applies without conventional correction.
Exit tax — deferral of payment	Deferral on request, with a tax representative and guarantees. Singapore does not assist France with tax recovery (annex BOI-ANNX-000508): the condition for automatic deferral is not met.
CSG and CRDS on property income and capital gains	17.2% on property income and property capital gains, 18.6% on furnished lets since 2025 income. The reduced rate of 7.5% is reserved for members of a European, Swiss or British scheme.

Sources: list of tax treaties concluded by France (BOI-ANNX-000306, updated 29 April 2026); exchange-of-information and recovery-assistance clauses (BOI-ANNX-000508, position at 8 October 2025); register of French nationals living outside France at 31 December 2025 (Ministry for Europe and Foreign Affairs); text of the treaty published by impots.gouv.fr; impots.gouv.fr for non-residents' social charges. Position as at 1st October 2026.

On residence. The treaty does not use nationality to settle dual residence. An executive who keeps a home in France and whose family travels back and forth can end up in a mutual agreement procedure, with no quick outcome. Lease, work permit, attendance records and a residence certificate from the Singapore authorities are gathered from the first year.

On your French income. Your Lyon rents remain taxed in France, at the minimum rate of 20%, then 30% above €29,579 of net taxable income, or at the average rate if it is more favourable.

On exit tax. Once deferral is granted, the return is filed in the year of departure and then every year while it runs; the tax is cancelled if the securities are held long enough.

What we do not show. The detail of Singapore tax is not shown in this table: it is handled with a qualified adviser in Singapore, whom we coordinate.

3. Our services: 360° support for expatriates and investors

Three workstreams, in the order in which they are decided.

The exit tax and the departure schedule

We quantify your unrealised capital gains, test the thresholds of Article 167 bis of the French Tax Code, then build the deferral file: tax representative, nature and amount of the guarantees. A badly sized guarantee is paid for in cash.

Assessment of unrealised gains and threshold testing.
Deferral application: tax representative and guarantees.
French tax departure date and Singapore arrival date.

Your French income and contracts as seen from Singapore

Rents, dividends, assurance-vie: we establish what France continues to tax, what the treaty reduces, and what the Article 22 rule changes depending on whether or not you repatriate. A French assurance-vie held by a non-resident no longer bears social charges; its withdrawals are subject to a 12.8% levy, or 7.5% after eight years.

For a long posting or a path through several countries, a Luxembourg assurance-vie contract may be considered, case by case.

Estate transfer without a treaty

We establish what each heir would pay in France, according to their domicile and where the assets are located, and we prepare gifts before departure, while the framework is known.

4. Methodology: our way of working

We work in four stages, and at each stage you know where you stand.

The initial review. We establish your actual situation: the make-up of your wealth, the project timeline, the situation of each member of the household, and the tax domicile of your heirs — because it is theirs that counts, not yours.
The applicable framework. We set out, source by source and with its date, the framework that applies to you. What we do not know, we mark “to be confirmed” — never anything else.
The choices. We present the options with figures and their respective consequences, and you decide. Wealth structuring comes after the decision, not before.
Ongoing monitoring. An annual review, free of charge, to check that the framework has not moved — treaties are amended, incentive regimes are abolished, thresholds change.

5. What the firm offers you

What concretely sets our work apart.

Sources, not claims. Every item in your file carries its reference and its date. You can check. It is the only way to work on a subject where most of the information available online is out of date.
A single point of contact in France. We coordinate your local advisers; we do not replace them: the host country's domestic tax rules are handled with a qualified professional on the ground. Our role is to keep the whole picture consistent and to defend the French side of the file.
Fees that are easy to understand. Fees disclosed before any commitment: fixed-price reviews, tailor-made engagements at €500 incl. VAT per hour, insurers' commissions on contracts taken out. The annual review is free of charge.

Frequently asked questions: Singapore

Is exit tax deferral automatic for a move to Singapore?

No. Singapore exchanges information with France but does not assist it with tax recovery (annex BOI-ANNX-000508). Deferral must be requested, with a tax representative in France and guarantees (Article 167 bis of the French Tax Code).

Which treaty applies: the 1974 one or the 2015 one?

The treaty of 15 January 2015, applicable since 1st January 2017. The 1974 treaty and its 2009 amending protocol now apply only to earlier situations.

Is my French rental income taxed in France?

Yes: at the minimum rate of 20% up to €29,579 of net taxable income and 30% above, unless you opt for the average rate. On top of this come social charges of 17.2% on unfurnished lettings and 18.6% on furnished lettings from 2025 income.

What happens if I am considered a resident of both countries?

Article 4 § 2 of the treaty settles dual residence by the permanent home, then the centre of vital interests, then habitual abode. It does not use nationality: if these three criteria do not settle the matter, the two tax authorities decide by mutual agreement, which can take years.

Will my estate be taxed in France?

For your assets located in France, yes, and for all assets received by an heir domiciled in France for at least six of the last ten years (Article 750 ter of the French Tax Code). No treaty governs estates between France and Singapore.

In summary

Singapore requires preparation on three points: an exit tax that calls for guarantees, a treaty that does not use nationality as a tie-breaker, and an estate that no text protects.

Everything is settled before departure, together with the fate of your French income and contracts.

Firm's fees: €500 incl. VAT per hour. Annual follow-up is free of charge.