Curacao Gambling License

Given that it is relatively inexpensive and has a smooth process for acquiring a license, Curacao has surely emerged among the top jurisdictions to obtain an online Curacao gambling license. That’s just perfect for an online gaming startup. Being a constituent country of the Kingdom of the Netherlands, Curacao’s legal structure is based on sound Dutch civil law, with the added advantage of stability insofar as business conduct is concerned. Meanwhile, the latest regulatory move to Curacao will raise the compliance bar as far as international gambling standards are concerned. New legislation, starting from the end of 2023, will change the outlook in terms of online gambling licenses issued in Curacao, showing better control and less illegal activity.

Advantages of the Curacao Gambling License

The license of Curacao provides certain advantages to fresh entrants into the world of online gaming and well-established operators. It means a modern business infrastructure that offers high-class telecommunication, advanced internet facilities, and extremely friendly legislation. The application process is rather uncomplicated because company formation, maintenance, and licensing in Curacao are relatively cheap and with a minimum of bureaucracy involved, hence ideal for fresh entrants within the online gambling industry.

It is firstly the competitive tax regime of Curacao, which fully meets all international requirements concerning taxes. Companies registered in the e-zone are exempt from paying any taxes on gross gaming revenue and pay only 2% tax on net profits. The lack of VAT further increases the affordability of a license from Curacao, making it very attractive for online casino operators.

Another great advantage of the Curacao license is a number of secure payment options available along with it: credit cards, debit cards, check deposits, and cryptocurrency. Such flexibility opens opportunities for easily establishing cryptocurrency casinos, reaching a wider audience with fewer transaction fees compared-for example-with credit card payment processing.

Apart from that, Curacao provides much room for manoeuvre in the sphere of technical requirements concerning licensees of gambling activities: software providers can make use even of those kinds of slots and random number generators that are still at the stage of beta testing.

These advantages mean new gambling businesses can safely test and develop their offerings in a regulated environment, with views of further licenses from more stringent jurisdictions. This will also enable operators to reinvest in business growth by enhancing gaming products and expanding into other forms of gambling with no additional licensing requirements.

Advantages

Current Gambling Rules in Curacao

The Curacao Gaming Control Board is the authority responsible for regulating the Curacao land-based casino industry and licensing all lotteries, charity bingo, and charity bon ku ne. They license and regulate online gaming operators who do business in or from Curacao. The authority is also responsible for enforcing regulations of anti-money laundering and countering the financing of terrorism. The purpose of the regulation is to maintain stability and integrity in the gambling industry of Curacao, as well as to protect the interests of the public. For this reason, the imposed regulations introduce an element of honesty, responsibility, competitiveness, and freedom from crime in gambling practices.

Following are the legislation and regulations applied on the gambling businesses in Curacao:

• National Ordinance Curacao Casino Sector (AB 1999, No. 97), covers land-based casinos
• Lottery Ordinance 1909, Games of Numbers Lotteries
• Lottery Ordinance 1909, Goods Lottery
• National Ordinance Games of Hazard II 1988, Bingo, Bon ku Né, etc.
• National Ordinance on the National Lottery 1949, National Lottery
• Online Gaming National Ordinance on Offshore Games of Hazard, P.B. 1993, No. 63 address online gambling issues
• The National Ordinance on Identification When Rendering Services (LID)
• The National Ordinance on the Reporting of Unusual Transactions (LMOT)
• Regulations for Anti-Money Laundering and Combating the Financing of Terrorism 2016
• Regulations for Card Games 2016
• Regulations for Live Bingo Operations 2016
• GCB-License Regulation on Sports Betting 2013
• GCB-Guideline Responsible Gaming 2012

Anti-Money Laundering and Combating the Financing of Terrorism Regulations explain the following: outline customer identification and due diligence procedures, policies, and procedures in respect of unusual transactions, the appointment and responsibilities of a compliance officer, and any other procedures and requirements. In that regard, the senior management of each casino shall issue a policy statement showing clear commitment on the part of the casino not only to prevent the abuse of its facilities, products, and services but also essentially to combat it for the purposes of money laundering and terrorist financing. This, in turn, will instill confidence in the gambling industry and generally in the jurisdiction and will result in a more significant client base and business success.

The Key Features of Curacao Gambling License

In Curacao, there are two types of licenses: Master License and Sub-License. A Master License has a duration of 5 years and allows its holder to carry out all types of gaming activities and grant Sub-Licenses. It is not possible for new applicants to obtain a Master License. There is only one license available under the law of Curacao, which is the Sub-License. It can also permit the holder to conduct and run all forms of gaming activities, such as sports bets, slots, table games, and RNG games; this license, however, is valid only for a period when the Master License it is attached to is valid.

The idea is you can choose from one of the following Master License holders who, since 1996, have been licensed to grant licenses on behalf of the government:

• Antillephone N.V. #8048/JAZ
• Curacao Interactive Licensing N.V. (CIL) #5536/JAZ
• Cyberluck Curacao N.V. (Curacao-eGaming) #1668/JAZ
• Gaming Curacao #365/JAZ

All these master licensees have their own, differing policies for the protection of consumer interests, including complaints and disputes coming from players against operators. For example, Antillephone N.V. needs to be provided with proof of a casino player having already approached a casino first in an attempt to resolve an issue, attaching screenshots of correspondence with the casino support team. Antillephone N.V. is considered the most reliable master licensee and was the first operator in Curacao to approve cryptocurrency payments.

A Curacao gambling license allows online casinos to carry out, amongst others, the following activities:

• Purchasing of software from leading manufacturers
• Providing the gambling website with customized and stable payment systems for receiving payments and prize money in several ways
• Customer trust because having a license is just the proof that this casino will be able to pay for winnings

Curaçao

Capital	Population	Currency	GDP
Willemstad	148,925	ANG	$22,581

Blocked Zones for Curacao

Afghanistan, France, Iran, Netherlands, Netherlands Antilles, USA, United Kingdom, Curacao

Red Zones for Curacao

Australia, Austria, Belgium, Bulgaria, Croatia, Denmark, Estonia, Finland, Germany, Gibraltar, Greece, Greenland, Ireland, Isle of Man, Italy, Jersey, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Poland, Portugal, Romania, Spain, Sweden, Switzerland

Requirements for Curacao Gambling License Applicants

As stated above, license applicants’ requirements are pretty reasonable and quite easy to comply with by Curacao startups. The very first and basic requirement is the incorporation of a new company in Curacao, which is something that our team here at Regulated United Europe can assist you with. Next steps deal with identifying persons involved, their business model, residence, origin of funds, and other business information.

License fees will vary depending on what the master license holder needs, among other factors, but are generally considerably lower compared to a number of popular jurisdictions. If you want to know precisely which license fees apply and what other related fees could apply to your business model, please contact us here at Regulated United Europe, and we will be happy to schedule an individual consultation.

Other requirements towards the license applicants for a license to gamble include the following:

• Only persons of at least 18 years of age are eligible for applying for a license
• The presence of at least one physical server of the company in the jurisdiction of Curacao
• The design and implementation of internal AML/CFT processes and procedures in line with applicable legislation
• Only certified gaming software can be used
• The technological audit of gaming software and hardware
• Fit and proper tests for company directors and shareholders
• Design and implementation of responsible gaming processes and procedures in line with relevant regulations
• Appointment of an internal compliance officer, responsible for ensuring compliance with AML/CFT regulations

Also, in connection with the purpose of applying for a license in Curacao, a request is made for certified copies of passports, certified copies of second-type ID documents, proof of address (e.g., original or certified copies of utility bills not older than 3 months), CVs proving one’s ability to conduct the operations of a gambling company, and proof of good financial standing.

• Police certificates of no criminal record from the country of residence
• Original bank reference letters where the relationship must be over 2 years
• Original professional reference letters from an accountant or lawyer where the relationship must be over 2 years
• Personal License Application Forms prepared by the GCB

Also, the following company documents are to be submitted:

• Memorandum of Association
• Articles of Association
• Business plan
• Copies of software agreements and/or 3rd party certification of the RNG application and its fairness where applicable
• Domain ownership proof
• A comprehensive and complete description of the Games to be offered
• Copies of the Company’s Terms & Conditions containing gaming policy for the protection of minors, responsible gaming policies, and KYC policy for players
• List of all jurisdictions where operation is envisaged
• License Application Form specific to gambling activity (e.g., casino or other), provided by the GCB

All documents must be dated within 90 days and in the English language. If you will need certification translation services, then please contact our friendly team here at Regulated United Europe for advice on the most cost-effective, efficient options.

While there is only one type of license available for all forms of gambling businesses, the application and other requirements for its operation vary based on the type of gambling games the operation offers. For instance, free-standing or stand-alone land-based casinos are not permitted in Curacao. For a land-based casino to be granted a license, it must be a complimentary amenity of a hotel catering to tourism. An eligible applicant for a casino license shall be either the owner of the hotel or the hotel operator. Such a casino should generate revenue primarily from foreign tourists who are accommodated in the hotel to which the casino is attached.

GAMBLING LICENSE IN Curacao

How to Establish a New Company in Curacao

In order for one to get a license to conduct gaming business in the jurisdiction of Curacao, one has to incorporate a local company either as the Public Limited Liability Company, N.V., or the Private Limited Liability Company, B.V. The time needed for registering a company in this state depends on the complexity of the business. It can, however, be incorporated in one day.

Main requirements:

• At least one director who must be a Curacao resident
• At least one shareholder – no residency requirements
• A local point of contact – resident – responsible to receive business correspondence
• To hold an annual shareholders’ meeting on the island of Curacao

The main steps of establishing a company in Curacao:

• Choose a compliant and available company name
• Prepare all necessary documents
• Obtain, in the e-zone, a registered business address in Curacao
• File the registration form and the necessary documents to the Chamber of Commerce and Industry of Curacao
• Appoint a local company representative or a local resident managing director

The supporting documentation shall include but not be limited to the following:

• Legalized copies of passports of shareholders and directors of the company
• Address evidence of the shareholders’ and directors’ addresses
• Proof of registered office in Curacao
• Articles of Association

How to Apply for a License in Curacao

Presently, the procedure of obtaining a license in Curacao is less complicated than in most other popular jurisdictions. Once you’ve opened a company in Curacao, a gambling license can be issued in about 2-6 weeks, provided that you’ve submitted a quality application containing all the required documents.

The main stages of the application process are as follows:

• Preparation of all the necessary documents
• Completion of fit and proper tests, where required background checks
• Submission of your application and documentation to the GCB
• Payment transfer of your application fee
• Finalization of domain name, server, and gambling platform, if applicable
• Review of gambling software and hardware by a technical compliance team from the Master License holder, if applicable
• Once the information given by the applicant is checked and confirmed to meet all the requirements, a Sub-License is granted

The application procedure is not intended simply to verify the information and documents provided. The authorities also try to understand whether applicants have a clear idea regarding responsible gaming and are committed to player protection in accordance with applicable legislation. Although the process is less complicated than it is in many other jurisdictions, going through the applicable regulations might be tricky. You should therefore still seek professional assistance in going through all the application stages, including company incorporation. Our team of experienced legal consultants will be happy to step in and provide personalized guidance.

The Best Curaçao Based Casinos

Requirements for License Holders

The only basic demands of the Curacao licensees in respect of responsible gaming legislation have been mentioned in the Island Ordinance Casino Sector Curacao. Among them, it was stated that any casino operator should be under obligation to possess the Request for Self-Exclusion Form, elaborated and provided by the GCB, and introduce it to all patrons. It further should be a requirement that at least one person is indicated as a contact point for the GCB and in charge of security regarding communications with the authority on information on self-exclusion or involuntary exclusion procedures, reception, and maintenance of the self-exclusion and involuntary exclusion list, submitting the casino’s procedures.

Every license operator shall adopt policies and programs that give casino personnel the responsibility to identify persons in self-exclusion or involuntary exclusion in the casino, and to report them to other personnel working in casinos assigned to monitor the presence of self-exclusion or involuntary exclusion persons. It would also include GCB inspectors present in the casino and, in case of no availability of the same, by notification through email or mail.

There is also a need to ensure that procedures and systems are instituted so that the use of player-tracking systems and other electronic means test all taxable patron winnings against the self-exclusion list and the involuntary exclusion list in aid of determining whether self-excluded or involuntarily excluded persons are involved in any gaming activities.

Similarly, all operators regulated by Curacao are required to adopt and maintain procedures, policies, and systems to prevent an extension of casino credit, privileges regarding check cashing, membership in any player club, or complimentary goods and services, junket participation, and similar privileges/benefits to any self-excluded or involuntarily excluded person.

Targeted mailings, telemarketing promotions, player club material, and other promotional materials regarding gaming activities conducted at the licensees’ casino shall be strictly prohibited to self-excluded or involuntarily excluded persons. Licensees shall, therefore, establish necessary procedures and policies with a view to preventing such persons from receiving promotional material.

Further, each licensee shall post and/or provide at each entrance and exit to the gaming premises and in conspicuous places in or near gaming or cage areas and cash dispensing machines located on the gaming premises: GCB-approved written materials concerning the nature and signs of problem gambling, how the procedure for self-exclusion is effectuated, including how to obtain the Request for Self-Exclusion form, the telephone number of the Fundashon pa Maneho di Adikshon, Center for Addiction Management, and the criteria for involuntary exclusion.

Casino employees who find the self-excluded or involuntarily excluded person in the casino shall, without delay, have such person removed from the gaming area and shall immediately notify the GCB of the breach. The security and surveillance department shall immediately investigate how the patron gained access to the gaming area undetected, and what steps the casino will take to ensure that similar breaches do not occur in the future.

To that effect, they must also declare their net gains or losses derived through patronage of the excluded person, and a casino shall withhold such net gains for donation to the GCB, deducting applicable tax from it. All the above must be reported on a form which shall be mailed to the GCB no later than 5 days after the incident is found out. All donations that are received by GCB are paid to the Fundashon pa Maneho di Adikshon exclusively for funding anti-problem gambling activities.

Every licensee shall be obliged to send to the GCB a written copy of the procedures developed in conformity with these regulations within 90 days from the date that these are adopted. Any amendment or change to the casino’s procedures and policies will also have to be submitted for prior approval to the GCB with a minimum period of 14 days before their enforcement.

It must paint a permanent seal that it holds a Sub-License. It is also required to include in all of its advertising a responsible gaming message and the advertising message as approved by the GCB if the operator advertises or markets to residents living within Curacao.

Our team here at Regulated United Europe will be happy to assist you in incorporating the company and applying for a gambling license in Curacao, with dedicated legal advisors, tax experts, and financial accountants at your side. You will find the process of incorporation and application easy, smooth, and transparent. Feel free to contact us to arrange a personal consultation and make the first steps toward lasting success.

Changing Curacao Gambling License

In 2023, it is scheduled to renew the Curacao gaming license. The task of the island nation authorities is not simple: on the one hand, it is necessary to preserve the license’s appeal to consumers, and on the other – to correspond to the growing international standards more and more.

When Changes Come Into Force

According to Finance Minister of Curacao Mr. Javier Silvania, changes will be in place in the second quarter of 2023. The minister assured that Curacao is going to remain an important player in the online gaming industry. For the time being, the Council of Ministers adopted a draft version of changes to the legislation and sent them for approval to the Social Economic Council. After that, a decision of the Council of Advice and the Parliament will be needed. According to Regulated United Europe experts, it will be at least 6 months before the new Curacao license is valid. Since the details may change, here are the expected changes.

New Types of Curacao Gaming Licenses

Curacao abandons the old system of Master Licenses and Sub-Licenses and replaces it with permits issued directly by the government, with categories B2C and B2B.

• B2C – license to operate as an operator (bookmaker, casino)
• B2B – license to operate as a game provider, white-label platform provider, and payment solution provider

Physical Presence of Key Personnel on Curacao-Basic

Over the last years, many countries increased demands towards foreign investors and started to require the real presence in the country of incorporation. The license of Curacao for gaming in 2023 will be possible to obtain only upon the registration of a local company and provided its full operation is in Curacao. The main change concerns the actual presence in Curacao of employees: whereas until now it was sufficient to have one person in a key position, according to the new rules, there must be three or more. It will also be necessary to have a physical office within 5 years from when the law comes into force. Local director, local manager, and local compliance and/or operations specialist will be considered key positions. The office the company resides in should be appropriate for a company to conduct gambling activities.

Transition Period

The government of Curacao wants to keep their professional ties with companies operating under the gaming license and grant them a transition period of 18 months from the time when the new regulations take effect. To receive this transition period, an application for a new license needs to be filed with the CGA no later than 3 months prior to the effective date of the new law. That application can be filed remotely. Within 2 weeks, the CGA must respond to the request, and within 8-12 weeks, it must make a decision on issuing a license. The CGA has the right to issue an “ordinary” license for 5 years or a “temporary” license for 6 months with the possibility of extension for another 6 months. A temporary license is granted if the applicant has small or easily remedied non-conformities with the new requirements.

National Gambling Ordinance (LOK)

The basis for such reform was the National Gambling Ordinance, or LOK, which was submitted to the Advisory Council of the country for its eventual path to Parliament. The LOK Gaming License would replace the current system of core and sub-licenses, with only four main licensees legally permitted to issue sub-licenses to operators. Although LOK 2023 also set a number of provisions applicable to each form of gambling, both land-based and online, in Curacao, the government will first concentrate on online games. In that respect, LOK provides, in particular, for the establishment of the Curacao Gaming Authority, an independent administrative body, as a regulatory entity to ensure a secure regulatory environment. The role of the CGA is not only to prevent but also to mitigate any undesirable and illegal acts associated with gambling.

Procedure of Application for New Gaming Licenses on Curacao After September 1, 2023

Starting from September 1, 2023, GCB will begin granting new licenses to operators directly under the current legislation. New license holders shall not be allowed to provide sub-licenses. From September 1, 2023, stricter rules will regulate the gaming industry of Curacao. A major modification to the legal framework, which has been underway for some time in a small Caribbean island country, is finally coming. As Finance Minister Javier Silvania said, access to online operators in Curacao will be subject to stricter internationally recognized standards. The law calling for reform was the National Gambling Ordinance, more commonly referred to as the LOK. This was expected to tighten industry regulations, including anti-money laundering measures, fraud prevention, and player protection. “We demand transparency regarding the sources of funds coming to our country,” Silvania said at iGaming NEXT Valletta 23. “We insist that operators comply with legislation that adheres to authoritative jurisdictions and meets the minimum requirements of international laws and guidelines on money laundering.”

LOK also introduced a new regulatory body called the Curacao Gaming Authority. According to Minister Silvania, the new oversight body will be established not only to prevent undesirable and illegal actions but also to mitigate them. Before the implementation on September 1, LOK will also be reviewed by the Advisory Council for passage into Parliament. Curaçao, as part of the constitutional monarchy of the Netherlands, has moved relatively slowly with reforms. There are several online gambling operators operating on this island, holding one of the most well-known gambling licenses in Curacao. There is also a favorable tax regime concerning gambling. The delay in changes has received criticism from the Netherlands and players in the industry.

Silvania insists that existing operators must be allowed to continue their businesses without persecution and that the GCB will launch a special portal to facilitate the licensing application process. The minister emphasized that most of the Curaçao licensed operators are still honest and apply best practices. However, he warned that some operators misuse Curaçao’s reputation. Changes in the gambling legislation of Curacao have been an attempt to keep up with the general trend in the industry and growing demands for more control over money laundering by strengthening preventive measures.

Annual Fee for the Curacao Gaming License

Curaçao is one of the most famous jurisdictions in the world that provide licenses for conducting gambling business. Such documents in this offshore location attract numerous operators due to their availability, ease of obtaining, and relatively low cost. Now, let’s look at what annual fees are paid to maintain a license for gambling activity in Curacao and what other expenses license holders may incur.

General Information on Curacao License

A Curacao license allows a licensed operator to conduct all forms of gaming activities, including fixed-odds sports betting, casino, poker, lotteries, and other forms of interactive gambling. Some positive aspects of the Curacao license include:

• Taxes: The profit tax rate is low at 2% according to the Corporate Tax Law for licensed gaming companies, making it popular among international operators in online gaming.
• One License Applicable: Unlike most places, it does not depend on the type of gaming activity, and no different licenses are required. Everything is covered under one license in Curaçao.
• Speed and Ease of Licensing: It is relatively easy to obtain a license with minimal bureaucracy.

The Curaçao license fee costs approximately EUR 25,000 per year. This cost covers the license maintenance charge and the fee for regulatory services. It should be noted that the one-time licensing fee may vary due to different factors, as well as the recurring annual follow-up fees, especially when considering the potential involvement of intermediaries or consultants to assist with the paperwork and application process.

Other Costs

Besides the annual licensing fee, the gambling business in Curaçao may entail the following additional costs:

• Compliance and Audit Fees: Regular testing and auditing are required to ensure compliance with laws and standards.
• Technical Infrastructure: Operator systems are expected to be secure and reliable, which means IT infrastructure and software can be costly.
• License Fees: Some games may require extra licenses or higher fees to use certain software.

The license offers several advantages for international operators, including low taxes, the universality of the license, and ease of obtaining it. However, license holders should carefully consider all potential costs, including regulatory requirements, to optimize operations and minimize risks.

Costa Rica Gaming License Registration

Costa Rica is a sought-after jurisdiction for registering online gambling platforms due to its highly liberal approach to gambling legislation and low business costs. The regulatory environment in Costa Rica differs significantly from traditional gambling licenses. In this paper, we take a closer look at the key steps, requirements, and specifics of registering a gambling platform in Costa Rica.

Legal Framework

Unlike many countries with specific gambling licenses, Costa Rica allows companies to operate gambling businesses without applying for a special license. Companies are registered as regular commercial enterprises, although they must follow certain rules and conditions if they want to operate in gambling.

Registration Process

• Company Registration: It is necessary to establish a legal entity in Costa Rica, either as a limited liability company (Sociedad de Responsabilidad Limitada) or a corporation (Sociedad Anonima). Registration requires preparation of the articles of incorporation and identification of shareholders and directors.
• Commercial License: Although no specific gambling license exists, the company needs a commercial license to operate in Costa Rica.
• Office and Resident Agent: To be operational, the company should have an office address registered in Costa Rica and a local representative, if possible.
• Bank Account: The company must open a local bank account to start operations.
• Licensing: Even without strict gambling legislation, an organization running a gambling business should comply with anti-money laundering and counter-terrorist financing laws.

Taxation and Financial Issues

Costa Rica has an attractive tax environment for gambling companies. As long as the company is incorporated as a regular business entity, it is subject to general corporate taxation. Income from abroad, typically from foreign players, is not taxed, making Costa Rica appealing for international operations.

Registering a gaming platform in Costa Rica can benefit entrepreneurs seeking to operate internationally with minimal regulatory control. However, all legal and financial aspects should be carefully considered, and local legal and advisory support may be necessary to ensure full compliance with relevant legislation and regulations.

Gaming Company in Costa Rica

Costa Rica is a highly attractive jurisdiction for company formation and operation management in the gaming industry, offering favorable living conditions and business environment, especially for online gambling. Here, we examine the general steps to establish a betting company in Costa Rica, as well as some regulatory and tax considerations.

Legislative Basis of Gambling Activities in Costa Rica

There is no specific law in Costa Rica regulating online casinos and gambling platforms. Companies interested in organizing online gambling are formally registered as regular commercial enterprises, eliminating the need for a special license to start operations, which simplifies and accelerates the process.

Company Registration

Registering a legal entity is essential in Costa Rica for establishing a gambling company. Typically, this would be a limited liability company (Sociedad de Responsabilidad Limitada) or a corporation (Sociedad Anonima). Incorporation documents must be prepared, and directors must register with the tax office and relevant government agencies.

Opening a Bank Account

One licensing requirement for gambling businesses in Costa Rica is to open a corporate bank account. This process can be challenging, as banks often require extensive documentation and proof of capital origin. Proper preparation and assistance from a local lawyer may expedite the process.

Taxation

While Costa Rica has low tax rates, it is essential to maintain open and transparent accounting and fiscal reporting according to local legislation. For gambling businesses, corporate tax applies to all income earned domestically. However, in most cases, income from foreign players is not taxed.

Legal Requirements and Compliance

All companies incorporated in Costa Rica must comply with data protection, anti-money laundering, and international sanctions laws. These policies and procedures must be developed and implemented to prevent the illegal use of gambling platforms.

With relatively simple company registration and a favorable tax policy, Costa Rica offers significant advantages for establishing and managing a gaming business. Although there is no special licensing, companies must closely follow local and international legal requirements to mitigate legal risks and ensure business sustainability.

Also, lawyers from Regulated United Europe provide legal services for obtaining a crypto license in Europe.