Gaming License In Curaсao
The jurisdiction of Curacao provides favorable conditions for running your gambling business. For this reason, casino owners are trying to obtain a license in Curacao. It attracts them because they have an opportunity to take their business in the European countries and a low tax rate of 2% on the company’s net profit.
Curaсao is a part of the Netherlands Antilles, most of which is the territory of the Netherlands. The islands’ favorable business location and low taxation have become an impetus for the development of various fields of activity. And the online casino is no exception. The procedure for obtaining a license for gambling is considerably simplified in comparison with other countries. And what can please, it is a low-cost license, as opposed to other jurisdictions, and a short time frame for obtaining one.
What are the types of licenses?
There are two types of licenses in Curacao:
⦁ Master license
Master licenses are valid for five years. The decision to issue the license is made by the Minister of Justice. It is also worth mentioning that Curacao has only four master license holders since 1996. In this regard, people, who are interested in the legalization of the gambling business in Curacao, can only get a sub-license.
⦁ Sub-license
The sub-license is issued by the master license holders. Even though it is unlimited, its duration depends on the master license. The sub-license will be valid as long as the master license is active.
Both types of licenses allow you to carry out any activity in the gambling industry.
How to get a license in Curacao?
Sometimes, it is very difficult to handle the paperwork on your own, so many operators ask for help from such companies as Slotegrator to get a license without any problems. If you use the services of such companies, you will not worry about being refused. But if you decide to deal with the process of obtaining a license without anyone’s help, then you need to make every possible effort. Despite the process of obtaining a gambling license in Curacao is simplified, you may face many difficulties. You should be legally qualified and attentive to details because you can get a reject if you make the slightest mistake. First of all, it is necessary to understand what you should do to legalize your gambling business in Curaсao. All you need to do is register your business as a legal entity, prepare documents for filing, submit an application and pay all fees. After you receive a positive response, your casino will be ready to launch.
What is the list of documents needed to obtain a Curacao license?
To register a company, you need to provide:
⦁ a certificate of no criminal record and income statements
⦁ copies of passport and original receipts for payment of unity bills for the last three months
⦁ CV/resume
⦁ recommendation letters from banks
⦁ data on software for the online casino
⦁ business plan
⦁ application for a gambling license and documents to confirm the domain name and site availability.
Why is it worth choosing a license in Curacao?
Today the gaming industry is developing rapidly, despite all the restrictions for this business. Therefore, you should seriously consider where to legitimize your online casino and protect your business. Curacao is the guarantor of the stability of the gambling industry and a member of such organizations as the International Gaming Council and the Curacao Internet Gaming Association. They represent the interests of the owners of the gambling business and also control their activities. Therefore, a license purchase on the island of Curacao is an ideal option for legalizing your business.
What are the advantages and disadvantages of obtaining a license in Curacao?
Advantages:
⦁ Single license
Unlike other jurisdictions, the Curacao license allows you to engage in various kinds of online gambling (sports betting, lotteries, poker).
⦁ Taxes
As we have already said, one of the significant advantages of obtaining a license in Curacao is low taxation.
⦁ The fast obtaining of a license
The procedure for obtaining a license takes approximately two months.
⦁ Reasonable price
Another advantage is the pricing policy. To obtain a license in Curacao, you need to pay from 4,500 EUR to 12,500 EUR per annum for all types of gambling activities. If we compare the price in Malta, then only for 3–4 types of gambling industry the annual cost will be 25,000 EUR.
⦁ Ability to transfer funds to cryptocurrency
Disadvantages:
⦁ Master license holders are prohibited from accepting players from the United States, France, the Netherlands, and Curaсao on their platforms. If this rule is violated, they risk losing their license.
Conclusion
To sum it up, we can note that Curaсao is a reliable provider of a gaming license. A Curacao license allows you to fully operate on the European market, and you don’t need to open an office on the island to conduct your business. Moreover, the online casino with such a license inspires confidence among potential players and means financial stability.
References:
⦁ https://slotegrator.pro/analytical_articles/how-to-get-a-gaming-license-in-curacao.html
