Estonia's Financial Supervision and Resolution Authority published an update on legislative amendments effective 1 January 2025 that extend the transitional arrangements for debt collection companies under the Debt Collection and Debt Purchase Act, giving firms a further six months to obtain a debt collection licence. Debt collection companies must apply to the authority for a licence and bring their activities and documentation into line with the act by 30 June 2025 at the latest, or cease their activities by that date. Any debt collection company that does not obtain a licence by the deadline will no longer be allowed to manage consumer credit contracts, as only licensed debt collectors may provide credit management services. The authority directed firms to its licensing information and to the register of market participants for the licence terms.
Finantsinspektsioon 2025-03-25
Estonia's Financial Supervision and Resolution Authority sets 30 June 2025 deadline for debt collection companies to obtain licences
Estonia's Financial Supervision and Resolution Authority announced legislative amendments effective 1 January 2025, extending transitional arrangements for debt collection companies under the Debt Collection and Debt Purchase Act. Firms have until 30 June 2025 to obtain a licence or cease operations. Only licensed entities will be permitted to manage consumer credit contracts.