For operators seeking to acquire a gambling license, the Curacao gaming license is frequently the favoured option due to its affordability and reasonable prerequisites. Nevertheless, obtaining a license can be daunting and intricate. Therefore, in this article, we shall furnish a comprehensive guide that elucidates the requisite steps for obtaining a Curacao gambling license. With our help, you can navigate through the bureaucratic process with ease and obtain your Curacao casinos license in no time.
Licensing and Regulation in Curacao
Situated in the Caribbean, Curacao is an idyllic island that forms a constituent country in the Kingdom of the Netherlands. Boasting a warm and welcoming climate, the island has emerged as a hub for diverse sectors such as shipping, oil refining, international trade, and finance.
The nation’s economy is predominantly influenced by tourism and other services, such as eCommerce, particularly in the iGaming sphere. This article aims to delve deeper into Curacao’s thriving iGaming industry and explore the advantages of obtaining a Curacao gaming license.
For over 25 years, Curacao has cemented its position as a premier hub for online gambling. The country was an early proponent of online gaming and legalized it with the National Ordinance on Offshore Games of Hazard in 1993. This move enabled the government to grant licenses in 1996, luring several global businesses seeking a welcoming and dependable offshore jurisdiction.
Due to its state-of-the-art infrastructure, competitive tax rates, and pro-business policies, Curacao has emerged as one of the most sought-after licensing authorities for online gambling operators worldwide.
How to Get a Gambling License in Curacao?
To obtain a license for your online gambling platform in Curacao, you have to do the following,
- Register as a legal entity in Curacao.
- Appoint a local company representative.
- Appoint a director of a new company, collection of his financial and personal data.
- Help in the collection and preparation of documents, filling out the license application.
Now, to obtain the license, here are the steps you have to follow,
- Provision of a full description of the games.
- The availability of a registered company in Curacao.
- The presence of a local representative.
- Domain ownership.
- The presence of the Rules for using the website.
- Presence of at least one physical server of the company in the jurisdiction.
- RNG Certificate – Software Certification.
- Providing technical audit of each gaming system (including software).
Registering Your Company
To acquire a gambling license in Curacao, it is imperative to establish a limited liability company (B.V. or N.V.) with a Latin transcription and an exclusive name that aptly characterizes the entity’s undertakings. The company must have a registered address in Curacao’s e-zone and be enlisted in the chamber of commerce. Furthermore, it is mandatory to appoint a local agent representative or a resident managing director to oversee the company’s operations in Curacao by legal obligations.
Reasons to Get a Gambling License from Curacao
According to financial experts, the iGaming industry is a highly profitable and burgeoning sector. Revenues continue to surge annually, fuelling the belief that profits will remain robust, notwithstanding hurdles like economic turbulence or pandemics. Online casinos and sportsbooks, being a popular mode of entertainment that has consistently exhibited high demand, constitute a promising investment prospect.
Here are the reasons to have a gambling license.
Acquiring a license from Curacao enables you to establish a merchant account, as the majority of financial institutions necessitate a license for online casino businesses to commence an account.
Acquiring a Curacao license instils a sense of security among operators, assuring them that their business can operate sans the apprehension of legal repercussions.
Obtaining a Curacao license serves the iGaming industry by counteracting negative perceptions and fostering a fair and transparent gaming environment.
Given the stringent screening procedure that operators must undergo, possessing a Curacao license endows the casino with a substantial degree of credibility in the eyes of players.
Being licensed by Curacao enhances the appeal of your casino to software and payment service providers who usually do not collaborate with unlicensed operators.
Many regulatory authorities provide licensing services, but Curacao should be considered as a preferred option for establishing your business due to the following reasons:
- It is cheaper than other gambling jurisdictions.
- One sub-license can cover all kinds of gambling products you offer.
- Compliant operators accept crypto payments.
- Operators can receive the license in approximately 6 weeks.
- The taxes are lower- 2% tax on the net gain and 0% on corporate income.
- Its application process is a little easier in comparison to other jurisdiction.
It is crucial to note that the Curacao license does entail a minor limitation concerning target markets. License holders cannot entertain players from particular countries, such as the USA, the Netherlands, and France, and even Curacao itself, contingent upon the master license holder. Hence, if a licensee breaches this regulation and permits players from any of the prohibited regions to partake in gambling activities on their site, they may face the revocation of their license.
How Much Does it Cost to Get a Gambling License in Curacao?
Acquiring a gambling license in Curacao offers a significant benefit, which is its affordability. The cost of obtaining a license in Curacao is lower than in other jurisdictions. However, the license fee may vary depending on factors such as the master license holder. Besides, there are additional costs linked with the license, such as incorporating a local company, the first year’s local representative fees, legal office fees, and domiciliation and administration fees, as well as local ISP service for compliance backups.
The low tax rates in Curacao make it an attractive option for online casino operators. Unlike other jurisdictions, Curacao imposes only a 2% net gains tax and application and renewal fees on operators. This straightforward tax structure is a major reason why Curacao is a top choice for those in the online gambling industry.
The overall cost of obtaining a Curacao gambling license depends on various factors. Numerous services are available to assist operators with the licensing process. It is generally recommended that operators seek expert guidance to identify the pricing plan that best suits their needs.