License acquisition service offered by our company
What is a gambling license, and why do operators need to get it? A gaming license is a document, which confirms that you can legally run an online casino business. The license allows iGaming platform owners to get a bank account, buy and place official games and slots on their website, and increase the level of audience confidence.
LicensingAid offers a license acquisition service to our clients. In this article, we will consider in detail the algorithm of getting a gambling license and give you a list of the most popular jurisdictions for legalizing iGaming business.
The process of obtaining a gambling license
The set of conditions you should meet to request a license always depends on your own case and the jurisdiction that you’ll choose. Usually, you need to prepare some documents, pay license fees, and place your servers in the place where you’ll get the license.
The most common conditions for getting a gambling license:
- To have a business plan
- To open a bank account
- To fill the license application
- To prove that operators have no criminal record
- To show enough funds
- To pay license fees
- To place the server in the jurisdiction
- To prepare info about the platform and its content
LicensingAid will walk with you from selecting a jurisdiction to obtaining a license. Our license acquisition service includes:
- Analyzing your case and assisting with choosing jurisdiction
- Creating a detailed license acquisition plan
- Preparing all required documents
- Getting a license which finally allows you to launch business
Gambling licenses by country
Here is the list of online gambling licensing jurisdictions: Malta, Curacao, Isle of Man, the UK, Alderney, Kahnawake, Belize and Gibraltar. While choosing the most suitable variant for you, pay attention to the cost, requirements and terms of obtaining a license, licensing fees, taxes and interest on profit, reputation of the jurisdiction.
One of the most popular jurisdictions is Curacao. Licensing a casino there has a number of advantages: zero interest on profits, getting a document very fast, corporate income tax is only 2%.
Gambling licensing in Malta is no less common. The license of the island is cheap, and taxes are low. At the same time, Malta issues a license to beginners only for six months, after which a long-term document can be obtained.
The Isle of Man is a very prestigious location for iGaming licensing. It offers very low income tax (just 1.5%) and one type of license for all games. On the other hand, this document will cost you a lot of money and effort.
Those who choose the UK license can rely on the stability of the jurisdiction, but should not forget about high (15-20%) taxes on income there.
One more famous licensing jurisdiction is Gibraltar. Despite the attractively low tax (1% of gross profit), as well as benefits and bonuses from the local government, the legalization of the online casino here is an expensive and hard procedure, especially for the newcomers.
Don’t want to pay taxes? Choose Alderney. In this licensing jurisdiction an income tax doesn’t exist. Gaming license here is a bit too expensive, but it’s worth it.
As you can see, every jurisdiction has advantages and disadvantages of licensing there. Together we’ll choose the most affordable location for legalizing your business, depending on your goals, means and expectations.