Cyprus Gambling License 2025

Government of Cyprus regulations facilitate the acquisition of licenses for online gambling, which has become a popular and profitable industry.

Sports betting is regulated under Class A. A betting office is required to obtain such a license. The license allows you to accept all bets (except for racing). Online redemption is not available.

Regulates online bookmakers in Class B. Lotteries, casinos, and slot machines are not covered.

To obtain a Class A or Class B license, you must meet the following requirements:

• Cyprus shares must be owned by the applicant.
• The registration of a gambling-related company in Cyprus.
• The company is able to pay its players on time due to its high level of solvency.
• Accounting rates must be established by the organization.
• Players are protected under the laws "About Bets 2012".
• A subsidiary or partnership with a Cypriot company is required if the company is not registered in Cyprus. The registered capital of such a company must be at least 500,000 euros. Once the license is issued, the deposit guarantee will expire after six months.

There is a one- or two-year license period. It may be possible to extend the period in some cases.

• Under 18-year-olds are prohibited from accessing gambling.
• There is a physical presence of the applicant company in Cyprus or a partnership with a Cypriot company if the applicant is registered overseas, and its primary business activity is to place bets. There is a minimum capital requirement for both foreign and Cypriot businesses.
• Criminal history that is clean
• Six months after receiving the license, a bank guarantee of EUR 550,000 is required from a bank in Cyprus or another EU member state.
• The provision of the services should be controlled and accounted for in a suitable manner
• Keeping up with NBA and Anti-Money Laundering regulations
• A one-year government application costs €30,000, and a two-year application costs €45,000.

Net profits are taxed at 10% and other taxes are taxed at 3%. The law on rates 2012 specifies that 2% of this 3% comes from sports federations, while 1% comes from betting programs.

Yes. The Government of Cyprus has put in place regulations to facilitate the acquisition of online gambling licenses. Depending on the business activities that a gambling company intends to conduct, it may fall into one of the following classes:

Class A –betting on sports games. This license allows all bets (except for racing). Not valid online.

Class B – regulates online bookmakers. Does not apply to slot machines, lotteries and casinos (physical offices).

In order to obtain a gambling license in Cyprus, applicants must complete the following four steps:

1. Register a Company (or subsidiary) in Cyprus
2. Open a corporate bank account
3. Prepare and submit license documents
4. Align and comply with NBA requirements

In Cyprus, the regulatory authority responsible for issuing and overseeing gambling licenses is the National Betting Authority (NBA). To obtain a gambling license in Cyprus, applicants must adhere to the requirements and procedures set forth by the NBA.

Here are some key points to consider:

1. Eligibility. The NBA accepts applications from both local and international entities interested in offering gambling services in Cyprus.
2. Types of Licenses. The NBA issues various types of licenses, including online betting licenses, online casino licenses, and other specific licenses for different types of gambling activities. Each license has its own set of requirements and conditions.
3. Application Process. Applicants must address the NBA, providing detailed information about their company, ownership structure, financial stability, business plan, and the gambling services they intend to offer.
4. Compliance Requirements. Applicants must demonstrate compliance with strict anti-money laundering (AML) and counter-terrorism financing (CTF) regulations. They are also required to implement responsible gambling measures and safeguards to protect players.
5. Financial Obligations. License holders must pay an application fee and annual fees to the NBA. The amount of these fees may vary depending on the type of license and the scale of operations.
6. Technical Standards. Applicants need to meet certain technical standards obtain a license.
7. Ongoing Compliance and Monitoring. Once a license is issued, its holder will face ongoing monitoring and compliance checks by the NBA, including regular audits.

The application process for a gambling license in Cyprus typically takes 2-3 months.

No. Opening a bank account is a formal requirement for obtaining a gambling license in Cyprus. It is also a requirement for establishing a business – another item on the checklist for a gambling license application.

A gambling license issued by the National Betting Authority (NBA) in Cyprus is typically valid for a period of one year. After the initial license is granted, service providers are required to renew their license annually by submitting the necessary documentation and paying the applicable fees.

Obtaining a gambling license in Cyprus offers both national and cross-border benefits. Some of the key advantages include:

1. Legitimacy and Credibility. Holding a gambling license from a reputable regulatory authority like the National Betting Authority (NBA) in Cyprus enhances the legitimacy and credibility of the operator.
2. Access to the Cyprus Market. Cyprus has a population of over a million people, and obtaining a gambling license gives service providers access to a significant customer base.
3. European Union Access. Cyprus is a member state of the European Union, and a gambling license gives access to the wider European market. License holders may expand their business operations and reach customers in other EU countries (subject to local regulations).
4. Business Flexibility. The gambling license in Cyprus covers various forms of gambling activities (online betting, online casinos etc.).
5. Responsible Gambling Measures. Cyprus promotes responsible gambling practices, and license holders need to reflect that. Commitment to responsible gambling can enhance the operator's reputation and attract socially conscious players.

Yes, gambling companies in Cyprus can be owned by non-Cyprus residents because the National Betting Authority (NBA) of Cyprus does not impose restrictions on the ownership of gambling companies based on the residency or nationality of the owners.

Even so, all gambling companies are required to meet national regulatory requirements and obtain the necessary licenses from the NBA.

The most prominent challenge to aspiring license holders are strict regulations that must be met unconditionally in order to be granted a license. Further challenges involve financial commitments (license, operating and administrative fees, etc.) and changing regulatory landscape that both new and existing license holders must adapt to.

Yes. Technical NBA audit is an obligatory step in the application process for all gambling companies seeking to acquire a license in Cyprus.

License holders are subject to further audits and ongoing monitoring by the NBA as well.

Yes. There are no specific requirements in Cyprus that require the directors of a gambling company to be residents of the country.

Even so, all gambling companies are required to meet national regulatory requirements and obtain the necessary licenses from the NBA.

Yes. The NBA is responsible for supervising gambling operators and ensuring compliance with AML regulations. The NBA conducts regular audits and inspections to assess the effectiveness of operators' AML measures and may impose penalties for non-compliance.

The most common legal form of a business in Cyprus is a Private Company Limited by Shares (Ltd) which can be founded by non-resident foreigners pursuant to the Cyprus Companies Law. An Ltd must have at least one director and a secretary.

Authorized share capital for companies applying for a Cyprus gambling license is at least 500,000 euros.

A Cyprus company with a gambling license must pay both corporate taxes and specific taxes related to gambling activities. Here are the key taxes that a Cyprus company with a gambling license may be required to pay:

Corporate Income Tax: a flat rate of 12.5% on net profit.

Special Defense Contribution (SDC): a tax levied on specific types of income, including interest income, dividend income, and rental income. Depending on the nature of the company's operations and the sources of income, certain portions of the company's revenue may be subject to the SDC.

Betting Duty: a specific tax on the gross revenue generated from betting activities. The rate varies depending on the type of betting.

Social Insurance Contributions: calculated based on the employee's gross income and the applicable contribution rates.

The annual license fee for a gambling company in Cyprus may vary depending on the type of license and the scale of operations. Government application fees start from €30,000 for a year and €45,000 for two years.

There are many reasons why Cyprus is a hub for international investments, including gaming, including its stable economic environment and strict but not excessive regulations. The gaming industry in Cyprus adheres to all relevant EU directives and maintains high standards and safety despite its regulatory frameworks being slightly more flexible than other European countries.

Cypriot Gaming Tax (13% isn't the most favorable in comparison with other European countries, but other taxes are very competitive. Due to Cyprus's low corporate income tax rate of 12,5%, many companies choose Cyprus as their home jurisdiction. Apart from that, dividends and interest are not subject to Withholding Tax on dividends and interest paid to non-residents of Cyprus as well as royalties paid to non-residents for rights that are not used in Cyprus. Cyprus has also signed 65 international agreements to eliminate double taxation, with the intention of encouraging cross-border investment and reducing tax burdens for international entrepreneurs whose companies are tax residents here.

In Cyprus, the NBA is authorized to perform the following regulatory activities if you obtain a gaming license:

• Ascertain that licensed authorized representatives, licensed bookmakers, and holders of licensed premises comply with the terms of their respective licenses.
• License applications can be examined by the licensing authority either personally or with the assistance of a lawyer
• Establish procedures for submitting and analyzing complaints to the authority or to Class A and Class B bookmakers
• As a means of combating money laundering, the Advisory Authority for Combating Money Laundering and Terrorist Financing issues directives to licensees in compliance with AML/CFT legislation
• Cooperating with the prosecution authorities to inspect non-licensed premises and obtaining the appropriate judicial orders to close those premises where there is reasonable suspicion that illegal betting is taking place
• The purpose of the code of practice is to draft a code of conduct for advertising bets and to maintain it
• Formulizing relevant recommendations regarding tax status in relation to bets
• Every unlicensed or unlawful betting website address should be electronically notified to internet service providers
• In addition to the 13% Gaming Tax, Class A and Class B licensed bookies are required to collect 3% of their net profits from bets in corresponding accounting periods.

• In accordance with AML/CFT regulations, gaming businesses must divulge their clients' financial AML/CFT data to their respective national authorities.
• Customer due diligence measures must be applied by gaming businesses when collecting winnings, wagering stakes, or both, when carrying out transactions of 2,000 EUR or more, whether the transaction is carried out in a single operation or in several operations that appear to be linked.
• In order to mitigate and manage the risks of money laundering and terrorist financing, gaming businesses must adopt policies, controls, and procedures that are appropriate and proportionate to their nature and size. Consistent record-keeping and an examination of transactions that may reveal signs of criminal activity are among the measures that must be taken.

Cypriot gaming licensees are listed on the NBA's website in a register that contains the information enclosed in their applications.

Licenses are differentiated according to the Betting Law of 2012 as follows:

• Licensed to provide betting services within licensed premises, but not to provide horse racing betting or Class B betting services
• An electronic betting license for bookmakers except for slot machines, online casino games of chance, and electronic horse racing provided with a direct link.
• It is a license issued to a representative of a bookmaker class B that allows him to provide betting services on behalf of a class B bookmaker within licensed premises but not on behalf of a class B bookmaker.

You must first open a local company with shares in order to obtain a Class A or Class B bookmaker's license in Cyprus. A company with shares, established in Cyprus or abroad, may only apply for such a license in accordance with the Betting Law of 2012. In the case of an overseas company, it must have a branch in Cyprus and its main activity must be to facilitate bets. The company's issued and paid up share capital must be at least 500,000 Euros.

In addition to the application, a bank guarantee from a Cyprus-based commercial bank or a cooperative bank should accompany it. After the granted license expires, the guarantee has a validity period of 6 months.  The bank guarantee obligates the bank to pay any amount the licensee fails to pay to a player who participated in a bet and won, taxes to the Cypriot Government, and contributions to the NBA.

A natural person or company with shares established in Cyprus may apply for a Class A bookmaker's authorized representative license, provided its main activity is to facilitate betting on behalf and for a Class A licensed bookmaker. In order to represent the Class A licensed bookmaker, the authorized representative must present the NBA with a written agreement that explicitly states that they will provide betting services, on behalf of the licensed bookmaker, in the agreement.

New companies with shares can be established in Cyprus in just 4-5 business days. Cyprus's Companies Law allows non-resident foreigners to establish a private company limited by shares (Ltd), which is the most common legal form of business in Cyprus.

Steps for setting up a new gaming company in Cyprus are as follows:

• Obtain approval from the Registrar of Companies (RCOR) for the company's name.
• The team at our company can help you prepare all the necessary documents, whether they are personal or business documents
• Create an account for your company
• A minimum of 500,000 euros must be transferred as authorized capital
• Elect a director and secretary for the company
• Register your business in Cyprus
• For regular registration, you need to pay 165 EUR, and for accelerated registration, you need to pay another 100 EUR.
• Application and required documents must be submitted to RCOR
• The RCOR can provide corporate certificates

• A Memorandum of Association
• Articles of Association
• Business plans
• A copy of the directors' and founders' passports
• Registered office address of a company
• Directors' and secretaries' declarations
• When registering online, a solemn declaration from the witness of signatures is required

Here are the requirements for the application:

• The type of license for which it’s submitted
• Any correspondence should be sent to the following postal address in Cyprus
• An application filed by a legal entity must include the name and address of the ultimate beneficiary, officer, and holder of a significant interest
• Players will be able to wager on the terms and regulations set forth by the applicant
• An overview of finances
• An interest in any other commercial activity that is lawful, including, but not limited to, participation in lawful activities
• Procedures for detecting and preventing AML/CFT within an organization
• A copy of each shareholder's, director's, and ultimate beneficiary's criminal records
• A description of the financial and other interests of the legal person's beneficiaries, directors, and significant shareholders

The following situations aren't eligible for gaming licenses:

• A competent court has convicted the applicant of a related offense
• Under 25-year-old applicants are natural persons

Furthermore, all licenses granted are non-transferrable or assignable. A license renewal application must be submitted three months prior to the license expiration date. In order to improve the enforcement of relevant regulations, the NBA can amend, cancel, or introduce new conditions for any type of license while it is still valid. A licensee must be notified in advance and justified in writing in such cases. However, despite the volatility of the regulatory framework, Cypriot entrepreneurs and consumers shouldn't fear it.