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.
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.
1.1 Types of Applications
| 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.
1.2 Documents Required
1.3 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.
1.4 Submission of Application
You will be directed to GoBusiness Licensing webpage, which will require you to sign in using your SingPass.
If you require assistance or guidance on the GoBusiness portal, please contact their helpdesk at (+65) 6336 3373 or email AskGoBiz@crimsonlogic.com.sg
The process may take around 15-20 minutes to complete.
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
- 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.
- 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.
- 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.
- 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
| Types of Applications | Validity | Fees (Non-Refundable) |
| New Debt Collector Approval Application |
Approval tagged to the validity of a Debt Collection Business Licence |
$55 upon submission of application |
| Cancel of existing Debt Collector Approval Application |
N/A | N/A |
| Withdrawal of Debt Collector Approval Application |
N/A | N/A |
New
This is for persons to apply for approval to work as debt collectors. This application must be made jointly with all the debt collection businesses that the applicant intends to work for and an approval must be obtained before they may carry out debt collection activities. The applicant shall submit the application for approval via the GoBusiness portal.
You may submit a Debt Collector Approval Application via GoBusiness portal.
Amend/Terminate Debt Collector’s Approval
This is for persons who wish to amend or terminate the approval for employees who are deployed as debt collectors.
You must notify the Police within 14 days after you cease the deployment of any person deployed by you to collect debts.
Withdrawal
You may withdraw your application for Debt Collector Approval at any time before it is approved.
If the application has been approved, you will no longer be able to withdraw it and you will need to make an application to terminate the approval.
2.2 Documents Required
For Debt Collector Approval Application, you will need the following supporting document:
- Scanned copy of the employee/debt collector's NRIC (front and back).
- If the employee is a foreigner, please submit a copy of the work pass issued by the Ministry of Manpower (if applicable) or a copy of the passport (if the employee is not based in Singapore). We may also require the applicant to obtain the criminal record clearance certificate or its equivalent from the country of citizenship to be submitted as supporting documents for Police’s assessment. Typically, such documents are known as “Certificate of Free from Criminal Conviction”, “Certificate of Good Conduct”, “Police Clearance Certificate”, etc. and likely issued by the Police, Home or Justice Ministry. However, as the issuing authority may differ from country to country, the applicant must approach the relevant authority in their respective country of citizenship to obtain the required document. Please note that for this purpose, we are NOT seeking the document issued by the Singapore Police Force. Police will recognise the document issued by the relevant authority in the applicant’s country of citizenship.
2.3 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.
2.4 Submission of Application
You will be directed to GoBusiness Licensing webpage, which will require you to sign in using your SingPass
If you require assistance or guidance on the GoBusiness portal, please contact their helpdesk at (+65) 6336 3373 or email AskGoBiz@crimsonlogic.com.sg
The process may take around 15-20 minutes to complete.