If you want to open your own gambling business, the state of Curacao is the most optimal.
This small island in the Caribbean, belonging to the Kingdom of the Netherlands, plays a significant role in developing the gambling business. It attracts many people in the industry with meager taxation, short processing times, and a high reputation in gambling. Сuracao gambling license is viral; most good platforms have been permitted to work in this jurisdiction.
The information below is current. But in the summer of 2023, there could be significant changes if a new bill comes into force.
What is the issuance of a permit for Curacao?
The gaming business in this state started 30 years ago when the Decree on Gambling was approved. Since then, most investors who want to develop the gaming business have decided to permit Curacao. It is due to financial benefits and short processing times, and not only.
Currently, the anti-money laundering regulator is the CGCB (Gaming Control Board), while gambling is regulated by the Ministry of Finance and FIU (Financial Intelligence Unit).
2 types of permits allow you to open an online club:
- Master license – the primary license issued by the Minister of Justice. It is published once and is valid for 5 years and then renewed.
- Sub-license – sub-license. Master license holders are already issuing it. Such a license is perpetual and is valid as long as the primary permit is valid.
There are currently 4 master permit holders, which is unlikely to change. These licenses have been issued since 1996, and everything has remained the same. So if you plan to get a permit in Curacao, you can only get a Sub-license.
Briefly about obtaining a permit
Consider the basic requirements for getting a permit. They are simple, but be careful about the paperwork that you need to prepare after registering a business:
- copy of the passport;
- summary;
- certificate of good conduct;
- recommendations from the bank;
- recommendations from experts;
- utility bill.
Then, with a package of papers, send an application and pay for licensing.
The main advantages of this jurisdiction
Curacao has been the most attractive jurisdiction for gambling licensing for many years. The state is as beautiful as possible because it has a lot of advantages.
Small financial costs for registration
You do not have to bear significant financial costs when obtaining a license. Of course, each of the four primary permit holders presents its conditions for issuing a permit, including financial ones. But still, these costs will be much less than in other jurisdictions.
Meager taxation
Curacao has some minor taxes compared to other licensing jurisdictions. You must pay only 2% of the net profit for an online casino. There will be no additional taxes.
High reputation
An important role is played by who issued the permit. And Curacao has one of the best reputations in gambling licensing. Many gamblers prefer to play in licensed online clubs, and for this, permit them to be very prestigious. And the permit is precisely like that, attracting a large user audience to such an online casino.
Reliable and safe
Such licensing provides advantages related to the security and reliability of your business. It has strong protection against illegal activities. In addition, before you receive a permit, your Internet site will be checked by a special commission sent by the owner of the primary permit, which will contain all critical technical issues, including the reliability of the software. After licensing, you can safely run your gambling business without worrying about its security.
Cooperation with well-known providers
Almost all well-known game providers prefer to deal only with licensed online casinos, and having a permit will attract their attention even more. Therefore, your casino will be OK with the availability of quality games.
Popular payment systems
Like game providers, payment systems want to cooperate only with licensed companies. Thanks to this, your casino can apply several of the most popular payment systems, which attract many users with their reliability.
Permission to open a bank account
If you have a permit, then you will have the opportunity to open an account there. All unlicensed financial companies do not have such an opportunity.
All this wide range of advantages makes Curacao one of the most profitable states for licensing the gambling business.
A few words about upcoming changes
In the summer of 2023, a new law on licensing should come into force, which may contain significant changes in the requirements regarding the cost of a permit, taxation, and increased control over the gambling business. Another CGA will be created to replace the CGCB. And instead of Sub-license, B2C and B2B licenses will be issued.
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