You will need a licence to operate as a pawnbroker or as a second-hand dealer.
A pawnbroker is a person who carries on the business of lending money on the security of pawned goods. This means you take possession of the goods and are able to sell them if the loan is not repaid within a certain time. This includes goods sold to you with a provision that the seller may buy them back.
A second hand dealer is a person who operates a business that buys, sells, or exchanges second-hand goods. Second-hand goods are items that have already been worn or used.
You will need to apply for a licence:
- as an individual, but you can hold that licence on behalf of a company or a partnership.
- for each premises you intend to operate.
You may not need to hold a second-hand dealers licence depending on the types of second-hand goods you deal in.
Please consult the Contact Officer for more information.