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Apply for Debt Collection Business Licence

Please ensure that you have read all the necessary information before applying. Incomplete applications will not be considered.

Apply via GoBusiness (Licence)
Apply via GoBusiness (For Collector)
Debt Collection Business Licence Application

Under the Debt Collection Act 2022, a person who carries on a debt collection business, or carries out any debt collection activity in the course of the business must be authorised to carry on the debt collection business with a valid licence under this Act.

Under the Debt Collection Act, "debt collection business" means the bussiness carried on by a person of collecting any debt from a debtor in the following manner:

  1. on behalf of another person; or
  2. where the first mentioned person has acquired the debt;

"debt collection activity" means any activity undertaken in Singapore that involves finding the debtor of a debt or requesting, demanding or collecting from the debtor money due under the debt.

Criteria for Grant of Licence
  1. The applicant is at least 21 years of age and the applicant and key appointment holder are fit and proper person to hold a licence.
  2. In determining whether -
    • an applicant is a fit and proper person to hold a licence; or
    • a key appointment holder of an applicant is a fit and proper person to act in that capacity, the Licensing Officer may have regard to, and give any weight that the Licensing Officer considers appropriate to, any criteria and requirements that are prescribed.
  3. For more details on the prescribed criteria for an applicant and key appointment holder, you may refer to the Debt Collection Act and Debt Collection (General) Regulations 2023.
  4. To avoid doubt, the Licensing Officer is not confined to consideration of the criteria and requirements prescribed under the Debt Collection Act and Debt Collection (General) Regulations 2023, and may take into account any other matter or evidence that may be relevant.

The applicant must be holding one of the following positions:

  1. For Entity Type: Limited Liability Partnership; Eligibility Criteria: The applicant must be a Partner or Manager.
  2. For Entity Type: Company; Eligibility Criteria: The applicant must be the Managing Director, Chief Executive Officer, or a Director.
  3. For Entity Type: Business (Sole Proprietor/Partnership); Eligibility Criteria: The applicant must be the Sole Proprietor or a Partner.
  4. For Entity Type: Limited Partnership; Eligibility Criteria: The applicant must be a Partner.

The applicant will have to make the following declarations while submitting a New, Renewal or Amendment application:

  1. Declaration on whether the applicant’s business is able to pay all its debts; and
  2. Declaration on whether the applicant’s business has gone and/or is likely to go into compulsory or voluntary liquidation.

1.1 Types of Applications

1.2 Documents Required

1.3 Submission of Application

1.4 Estimated Completion Time

1.5 Contact Details

Debt Collector Approval Application

Under the Debt Collection Act 2022, an individual who acts as a debt collector for a person carrying on a debt collection business (licensee) requires prior approval from the Licensing Officer for the individual to be deployed as a debt collector by the licensee. Under the Debt Collection Act, “debt collector” means an individual who carries out any debt collection activity for or on behalf of another person.

Criteria for Grant of Approval

  1. The applicant is at least 21 years of age and is a fit and proper person to be granted an approval to be deployed as a Debt Collector.
  2. In determining whether an individual is a fit and proper person to be deployed as a debt collector by the licensee, the Licensing Officer may have regard to, and give any weight that the Licensing Officer considers appropriate to, any criteria and requirement that is prescribed.
  3. For more details on the prescribed criteria for an individual to be debt collector, you may refer to the Debt Collection Act and Debt Collection (General) Regulations 2023.
  4. To avoid doubt, the Licensing Officer is not confined to consideration of the criteria and requirements prescribed under the Debt Collection Act and Debt Collection (General) Regulations 2023, and may take into account any other matter or evidence that may be relevant.

2.1 Types of Applications

2.2 Documents Required

2.3 Submission of Application

2.4 Estimated Completion Time

2.5 Contact Details