Gibraltar is a very prestigious jurisdiction and has a good reputation. Moreover, local authorities do their best to promote the development of the gambling industry in the country. Supporting measures include, among others, low taxes for online casino owners. Nonetheless, we must notice that Gibraltar’s gaming license application process is complicated and the expenses of obtaining the permit are very high. Therefore, in order to legalize the gambling business in Gibraltar, you will have to make an effort.
Types of Gibraltar Gambling License
Gibraltar issues B&C and B&B gaming permits. Let’s consider what these documents are and who needs to get them.
B&C license
This permit is intended for operators who offer virtual and land-based gambling activities. What types of games is possible to provide with a B&C Gibraltar license?
- Internet casinos
- Online bookmaking
- Other iGaming activities
- Offline casinos
- Offline bookmaking
B&B license
This type of license is issued to the developers of the software for the online gaming industry. Due to the strict legislation of Gibraltar, only licensed games and programs can be used on gambling sites. Therefore, a B&B permit is a mandatory document for every IT company in the sphere.
Requirements for obtaining a gambling license in Gibraltar
- Applicants must provide identification documents and tell about their experience in the gambling business;
- It’s needed to prepare a detailed business plan
- Confirmation of financial viability is also required;
- The company, office, and directors must be present-in the jurisdiction;
- Applicants must provide evidence of the non-conviction of the owners and all key employees of the company;
- Operators should have a valid license in other jurisdiction;
- Company’s bank accounts must be opened in the country
- All mandatory fees should be paid before submitting the application
How much does a Gibraltar gambling license cost?
Before you decide to apply for a gambling license in Gibraltar, you should consider that the license validity period is five years. It means that you do not need to additionally pay for the renewal of the permit and other documentation every year. It is a bold plus of a local license.
The cost of a gambling license in Gibraltar differs depending on the type of document. The acquisition fee for B2C operators is £100,000. B2B developers and software providers pay £85,000 for obtaining the permit.
One more important point is that there is no all-in-one license in Gibraltar. In other words, operators who want to provide several gambling activities to the audience, are obliged to get a separate license for each.
The procedure of obtaining a license in Gibraltar
The period for getting a casino license in Gibraltar is 14-90 days. It depends on the type of permit chosen by the applicant. Each future Gibraltar gambling license holder needs to go through a long and complicated procedure, which will include such stages as registering a company, checking equipment for the gambling business, preparing and submitting all the necessary documents, etc.
To facilitate the license acquisition process you can seek help from specialists. LicensingAid experts can accompany you during the whole application period. Our support includes assistance with preparing documents, legal advice, and solving all possible issues on your way to obtaining a license.
Taxation
As we already mentioned, the tax policy in Gibraltar is affordable for most operators. Gambling businesses are required to pay income tax, the rate of which is only 1%. Wherein, the total amount of income must not exceed £425,000 or be less than £85,000 per year.
Pros and cons of Gibraltar Gambling License
Advantages
- The Government of Gibraltar supports the development of the gambling industry;
- Low taxation;
- Brilliant reputation of the jurisdiction, backed by the authority of the UK;
- The opportunity to provide different gambling types;
- Сlearly defined and understandable prices of obtaining a permit;
- Few competitors in the country;
- Long-term license.
Disadvantages
- High application price;
- Lack of a universal license for all gaming activities;
- The acquisition procedure is not easy and requires the preparation of a huge number of documents.
To sum up all the above, we can say that the Gibraltar license is totally worth all efforts. In addition, having enlisted legal assistance, you will surely be able to get it in the shortest possible time and without problems.
