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🇸🇬 Singapore

SGB for NRIs in Singapore

Understanding Sovereign Gold Bond rules for Indians in Singapore

NRIs Cannot Invest in SGBs

As per FEMA (Foreign Exchange Management Act) regulations, Non-Resident Indians are NOT eligible to purchase Sovereign Gold Bonds, whether through primary market or secondary market (stock exchanges).

**Can NRIs in Singapore invest in Sovereign Gold Bonds?**

**No**. NRIs in Singapore face the same FEMA restrictions and cannot invest in SGBs.

**Singapore-specific advantages:** - Singapore has no Capital Gains Tax - Strong gold trading hub with competitive prices - SGD-denominated gold products available

Key Points for NRIs in Singapore

NRIs in Singapore CANNOT purchase SGBs under FEMA

Singapore has no Capital Gains Tax on investments

Physical gold readily available at competitive rates

SGX has gold investment products

Consider Singapore Gold ETFs for tax-free gains

Alternative Gold Investments for NRIs

Singapore Gold ETFs

Available

Gold ETFs listed on SGX

No CGT in Singapore, SGD denominated

Indian Gold ETFs

Available

Gold ETFs through NRI demat account

INR exposure, India tax rules apply

Physical Gold

Available

Gold from Singapore dealers

GST exempt for investment grade gold

Sovereign Gold Bonds

Not Allowed

Government of India gold bonds

NOT allowed for NRIs under FEMA

Tax Implications for Singapore Residents

  • Singapore has no Capital Gains Tax
  • Indian-source income remains taxable in India
  • India-Singapore DTAA provides tax relief
  • Interest from Indian investments taxed in India
  • Consult tax advisor for cross-border planning

Important Disclaimer

**IMPORTANT DISCLAIMER:** 1. **NRIs CANNOT invest in Sovereign Gold Bonds (SGBs)** as per FEMA (Foreign Exchange Management Act) regulations. This applies to both primary market (RBI issues) and secondary market (stock exchanges). 2. If you became an NRI after purchasing SGBs as a resident Indian, you may continue to hold them until maturity but should consult a tax professional regarding implications. 3. This information is for educational purposes only and does not constitute legal, tax, or investment advice. NRI regulations are complex and vary by country of residence. 4. Please consult a qualified CA, tax advisor, or legal professional familiar with FEMA regulations and your country's tax laws before making any financial decisions. 5. Information provided is based on our understanding as of 2026 and may be subject to change.

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Frequently Asked Questions

Singapore has no CGT, is a major gold trading hub, and has GST exemption on investment-grade gold. These factors make it attractive for gold investors.
Singapore PR holders who are Indian citizens and qualify as NRIs under FEMA cannot invest in SGBs. The restriction is based on Indian tax residency status.

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