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:
- on behalf of another person; or
- 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.
1.1 Criteria for Grant of Licence
- 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.
- 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.
- 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.
- 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:
- For Entity Type: Limited Liability Partnership; Eligibility Criteria: The applicant must be a Partner or Manager.
- For Entity Type: Company; Eligibility Criteria: The applicant must be the Managing Director, Chief Executive Officer, or a Director.
- For Entity Type: Business (Sole Proprietor/Partnership); Eligibility Criteria: The applicant must be the Sole Proprietor or a Partner.
- 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:
- Declaration on whether the applicant’s business is able to pay all its debts; and
- Declaration on whether the applicant’s business has gone and/or is likely to go into compulsory or voluntary liquidation.
1.2 Types of Application and Associated Fees
| Types of Applications |
Validity |
Fees (Non-Refundable) |
| New Debt Collection Business Licence |
Three Years |
$600 upon approval of application |
| Renewal of Debt Collection Business Licence Application |
Three Years |
$600 upon approval of application |
| Cancel of existing Debt Collection Business Licence |
N/A | N/A |
| Withdrawal of Debt Collection Business Licence Application |
N/A | N/A |
New
This is for persons who wish to apply for a debt collection business licence. Under the Debt Collection Act 2022, a licence may be required when the business involves debt collection, e.g. collecting debt from a debtor on behalf of another person.
You may submit a new Debt Collection Business Licence via GoBusiness portal.
Renew
This is for persons who wish to apply to renew an existing debt collection business licence. The applicant shall also submit an application to renew the approvals for the debt collectors deployed by him via the GoBusiness portal when he applies to renew his debt collection licence.
You may submit your renewal of Debt Collection Business Licence via GoBusiness portal.
Amend Licence Details
You may make the following amendments to your existing Debt Collection Business Licence:
- Company Name (*Should the UEN change, you will have to apply for a new Debt Collection Business Licence)
- Key Appointment Holders
- Contact Details
- Mailing address
- Business Operating Address
Cancel Licence
Under the Debt Collection (General) Regulations 2023, licensees must notify Police of the cessation within 14 days after the cessation of the debt collection business
You may cancel your existing Debt Collection Business Licence any time before its expiration.
Please note that there will be no refund of the licence fees upon cancellation as stipulated under the Debt Collection Act 2022.
Withdrawal
You may withdraw your application for Debt Collection Business Licence at any time before the licence is approved.
If the licence has been approved and issued, you will no longer be able to withdraw it and you will need to make a request to cancel the licence.
1.3 Documents Required
1.4 Submission of Application
- You will be directed to GoBusiness Licensing web page. Have your SingPass ready to log in.
- If you require assistance or guidance on the GoBusiness portal, please contact their helpdesk at (+65) 6336 3373 or email AskGoBiz@crimsonlogic.com.sg
1.5 Estimated Completion Time
Estimated Time to complete
20 minutes
Processing Time
- Approximately 3 weeks from the receipt of the application and if all necessary supporting documents are enclosed (if required). Any incomplete or incorrect submission will be rejected.
- You will be notified of the outcome via SMS and/or Email. Alternatively, you may login to GoBusiness Licensing to view your application status.
1.6 Contact Details