How to get a gambling license in Curaçao
Curaçao is an island state, located in the south of the Caribbean Sea, which is also part of the Kingdom of the Netherlands. Curaçao has positive business conditions and a low taxation rate that encourage the development of different activities and attract new investors. The gambling industry is no exception.
Curaçao is considered one of the best jurisdictions to obtain a license for a casino, and its licenses are in high demand. While it is much easier to obtain a gambling license in Curaçao than in other jurisdictions, applicants will still have to face the bureaucratic process of preparing all necessary documents and submitting an application. However, overall, it’s widely considered to be worth the effort.
Types of Curaçao gambling license
There are two types There are two types of gambling license in Curaçao:
- Master license — The duration of this type of license is five years. It is worth noting that there are only four master licenses in Curaçao; those interested in getting a license for an online casino in Curaçao can only apply for a sub-license.
- Sub-license — Master license holders can issue an unlimited number of sub-licenses. The duration of this type of gambling license depends on the duration of the master license.
Both master and sub-licenses enable operators to offer any gambling services to their clients.
Who issues Curaçao online gambling licenses?
In order to obtain a gambling license in Curacao, operators must comply with all the requirements of this The Minister of Justice has the exclusive right to issue master licenses. Holders of master licenses, for their part, are authorized to issue an unlimited number of sub-licenses. Keep reading to learn about all the advantages/disadvantages, costs, and the process of getting a Curaçao gambling license.
Requirements for obtaining a license
In order to obtain a gambling license in Curaçao, operators must comply with all the jurisdiction’s requirements. The slightest mistake or infraction can result in a rejected application.
Here are the requirements:
- Company registered in Curaçao
- The presence of local representative
- Providing game descriptions
- Availability of the rules for using the website
- Confirmation of ownership of the domain on which the site will be located
- At least one server located in the territory of Curaçao
- AML procedures in relation to each player
- Providing technical audit of each gaming system (including software)
- RNG Certificate
- Applicants must not be under the age of 18 or be a citizen of the United States or the Netherlands Antilles
What documents are required for a license?
EEach director of the company, shareholder, and beneficiary should prepare the following documents to create a company and obtain a gambling license:
- Certificate of no criminal record
- Copy of a passport
- Providing confirmation of payment of utility bills for the last three months
- Letter of recommendation from the bank
- Letter of recommendation from the employer
- Confirmation of residential address
- CV (Resume)
- Contact Information
The consideration of the application by the Curacao e-gaming licensing authority takes approximately six weeks.
How much does the Curaçao gaming license cost?
Thе cost of the Curaçao gaming license is significantly lower than in other jurisdictions. Moreover, you do not need to pay for each type of gambling activity separately; you can pay for one gambling license and offer any variety of gambling services.
In addition to the application fee, the cost of the license may also include company and trademark registration in Curaçao, local company representative fees, legal representation and domiciliation fees, administrative fees, and a local internet service provider for backups required by compliance standards.
Low tax rates are another reason why conducting an online gambling business in Curaçao is attractive for operators. Casinos that operate online and are registered in the e-zone don’t need to pay taxes aside from a 2% tax on net profits (some other jurisdictions also have a gaming revenue tax).
How long does it take to get the Curaçao License?
The consideration of the application by the Curaçao e-gaming licensing governmental authority takes approximately six weeks.
Playersthat Curaçao licensees can accept
With a Сuracao gaming license, you can accept players from all countries, if they are not prohibited by your sub-license agreement. Prohibited countries are Curaçao itself, as well as Belize, the UK, the United States and some EU countries such as Germany and the Netherlands.
What are the advantages and disadvantages of obtaining a license in Curaçao?
- Operators obtain a single license for all gambling activities.
- Low taxation
- Relatively short application processing time
- Low cost of license acquisition
- Ability to make crypto payments.
Master license holders are not allowed to accept players from the USA, France, the Netherlands, and Curaçao on their gambling website. If the operator violates this law, his license will be revoked.
Why is it worth applying for an offshore Curaçao gaming license?
The gaming industry is growing and developing rapidly. Despite all the restrictions for this kind of business, it is considered one of the most profitable industries in the world. Thus, before you apply for an online casino license, it is worth thinking about choosing a licensing jurisdiction — the license guarantees the stability of the gambling business. Curaçao is a member of such organizations as the International Gaming Council and the Curaçao Internet Gaming Association. They represent the interests of gambling business owners and control their activities. Therefore, obtaining a license for an online casino in this region is an ideal option for running your business legally.