A company that services consumer credit agreements on behalf of a credit purchaser — collects payments, renegotiates terms, handles complaints — needs an authorisation as a credit servicer from the Financial Supervision Authority under the Credit Servicers and Credit Purchasers Act (krediidiinkassoteenuse osutajate ja krediidiostjate seadus, KIOS), which implements Directive (EU) 2021/2167. The application must contain a fixed set of documents. This guide lists them and explains which of our add-ons are mandatory with the application.
The guide is general information, not legal advice. The authorisation is decided by the Financial Supervision Authority; nobody can guarantee it.
The documents the application must contain
- Business plan (KIOS § 8) — the services, the types of credit agreements serviced, the credit purchasers you will work for, the organisation, and financial projections. Our business plan: .
- Internal rules and internal control system (KIOS §§ 41–42) — governance, risk management, compliance, conflicts of interest, outsourcing, record keeping and the treatment of borrowers. Internal rules: .
- Complaints handling procedure (KIOS § 60) — how borrowers' complaints are received, answered within the set time and recorded. Complaints procedure: .
- Fit and proper assessment of the managers — the management board and, where there is one, the supervisory board: reputation, knowledge, experience, criminal records. Fit and proper file: .
- Qualifying holdings (KIOS § 29) — the persons with a qualifying holding, their suitability and the source of the funds. Qualifying holding information: .
- IT systems — the systems used for servicing, data protection and security. Description of IT systems: .
These six are added automatically when you choose the credit servicer authorisation () in our quote form — an application without them is incomplete.
The optional document
If the credit servicer receives and holds borrowers' payments before passing them to the credit purchaser, KIOS § 47 requires a separate payment account and rules for it. The payment account requirements () are needed only in that model.
After authorisation
A credit servicer reports to the Financial Supervision Authority periodically. Our supervisory reporting service () prepares the reports for twelve months. See also the credit servicer licence and supervisory reporting after authorisation.
What you receive
- a complete application with all documents KIOS requires, written for your business;
- filing and answers to the authority's questions until the decision.
Prices are starting prices confirmed in a written quote; they exclude VAT and the state fee for the application, which the applicant pays. All communication takes place by email.
Ready to start? Choose the credit servicer authorisation: the mandatory documents are added automatically. Open the quote form.
Frequently asked questions
Which documents are mandatory in a credit servicer application?
The business plan (KIOS § 8), internal rules and internal control (§§ 41–42), the complaints procedure (§ 60), the fit and proper file of the managers, qualifying holding information (§ 29) and the description of the IT systems. They are added automatically in our quote form.
When does a credit servicer need a payment account?
When it receives and holds borrowers' payments before passing them to the credit purchaser. KIOS § 47 then requires a separate payment account and rules for it; otherwise the document is not needed.
Related guides
- Estonian creditor licence for consumer credit
- Estonian credit servicer licence
- Consumer credit compliance documents in Estonia
- Debt collection, lending and transport licences
More on this topic: Credit licensing.