Every year the number of online casinos is increasing. Despite the fact that the platforms carry out their activities on the Internet, there must be a special permit – a license. Its presence contributes to the development of gambling business. Software providers prefer to deal with those who have this permission. When you enter BetAmo casino, you will see that it has a Malta Gambling Authority license. But it’s not the only casino regulator. One of the most popular ones is a Curaçao license.
This island is an independent federation, part of the Netherlands. Its sphere of influence is so large that every ninth gambling project in the world operates under a Curacao license. It is one of the highest quality licensees in the gambling market and has been issuing special permits for 20 years. The conditions offered are ideal for a new virtual gambling company. The controlling department has introduced a low tax percentage and reduced the severity of market restrictions to a minimum.
Basis for Obtaining a Curaçao License
The Curaçao Gaming Commission offers specialized packages for everyone, allowing the purchase of a license and server hosting on favorable terms. The special permit can be obtained within 2-3 weeks from the date of application. According to the current law in the territory of Curacao, any site that provides virtual gambling services must pay a regular fee of 2% of all gross profits of the company. This does not include fees on import duties and sales tax. The amount of the tax rate is insured against change until 2026. There are no additional fees on the territory of Curaçao.
The license is issued for a period of five years. Certain conditions must be met for this:
- It is the responsibility of the operator to monitor all financial transactions of its customers within the interests of the casino.
- Only non-residents of the Antilles who are at least 18 years old can accept bets. All transactions from residents or persons under the age of 18 are subject to rejection.
Since Curaçao controls the establishment, all gaming content, databases, and other information must be stored within the jurisdiction or pass through a transit server to be available for inspection by outside auditors.
Jurisdiction strictly enforces all of the above conditions, so online clubs with a Curaçao license are trusted by experienced gamblers. There are two types of permissions.
Full license gives the right to carry out all types of gambling activities, including the issuance of sub-licenses. But it is now suspended. A limited set of opportunities to engage in gambling provides a license, the owners of which are all gambling establishments with a Curaçao permit. Despite the restrictions, this document is good for all virtual gambling establishments.
How to Get a Curaçao License
To obtain a Curaçao license, you need to perform a number of actions:
- Registration of the company in the sphere of jurisdiction.
- Registration with the Chamber of Commerce.
- Placement of the server for transit to the island.
- Formation of a security deposit in an amount equivalent to $35 thousand.
After that, it is possible to collect all the necessary documents. A prerequisite is that the director of the company must include one local resident. In order to obtain a gaming license in Curacao, it is necessary to submit a certain package of documents. Besides personal information about the beneficiaries, there must be:
- Business plan, which has a detailed description of the costs of opening a gambling establishment, the distribution of income, and marketing strategy.
- Technical description of the content, games and other software planned to be used on the platform.
- Confirmation of the right to use the domain.
- Random Number Generator Certificate.
- Documentary proof of ownership and use of the software (in accordance with copyright law).
All documentation must be received at least three months prior to submission. The information must be prepared in accordance with local regulations, translated and notarized. Those companies which have contributed to the economic development and the public sphere of the island have the advantage to obtain a license. It is recommended to prepare the package of documents with the help of companies who are well versed in gambling licensing issues.
0 Comments on A Curaçao License and How to Get It