Curacao Gaming License
Curacao is an island country in the southern Caribbean Sea and forming part of the Dutch Caribbean region. These are also called Lesser Antilles in Caribbees since it is a group of islands. Curacao is about 444 square kilometers in area and is situated 65 kilometers north of the coast of Venezuela. Administratively, it is currently a constituent country within the Kingdom of Netherlands.
Since 1996 Curacao has been offering iGaming licenses making the country on of the first jurisdictions to regulate online gambling. Online gambling is one of the prominent lines of business in Curacao. In order to become a legitimate iGaming operator, the company must first obtain E-Zone status and apply for the license from the government. A widely practiced option is to apply for IP Agreement, also known as sub-license from one of the existing license holders. The Curacao gaming license was first introduced in 1996 when the island was still part of the Netherland Antilles. That makes Curacao one of the oldest and most recognizable jurisdictions in the world issuing gaming licenses and regulating iGaming businesses.
Gaming entrepreneurs from all across the world establish Curacao companies in order to apply for Information Provider (IP) agreement. These existing gaming license holders offer compliance and data center services in order to execute supervision over sub-licensee operations. To secure iGaming license, applicant companies must go through fit and proper tests, file respective forms and applications and present their iGaming platform for technical compliance. Only upon satisfying all the requirements the operator is granted the licensed IP provider status.
Many gambling operators have selected Curacao to register their iGaming website due to the favorable tax laws, relatively inexpensive and quick licensing process as well as jurisdiction recognition. The government of Curacao charges only 2% of the tax from the net profits of the online gambling businesses and they do not mount massive barriers for new iGaming industry entrants. The government or master license holder shall grant license if applicant complies with relatively straightforward set of requirements.
The cost of Curacao gaming license cost is fairly low. A full gambling license in Curacao can be obtained for about 60000 ANG (Netherlands Antillean Guilder), which is roughly about 31,500 Euro. The monthly fee is about 10000 ANG, which is equal to around Euro 5,250 for the first two years. Afterwards, the iGaming license holder can address the government and negotiate about the further fees. M
Master license entitles their holders to grant sub licenses to other companies after they go through due diligence and establish presence in E-Zone. A sublicense grants operator the ability to operate under the auspices of master license without privilege of granting own sublicenses. The master license holder is responsible for supervision of all the activities of the companies they issued sublicense to. The master license holder establishes list of restricted jurisdictions where operators cannot offer services. Sublicense companies also have to strictly adhere to principles of responsible gaming including not offering services to persons under legal age or otherwise not legally fit.
Curacao license entitles to operate all forms of interactive gambling. Which means that Curacao gaming license holder can run online casino, sportsbook, poker room or a website that offer all of the above.
Despite being considered a less stringent jurisdiction, application for interactive casino and betting license in Curacao has certain due diligence requirements. The applicant owner should present an original certificate of no criminal record not older than 3 months. Owners of company applying for Curacao gaming license all should also produce bank reference and utility bill. Obviously, the applicants also present certified passport copies not older than 3 months along with CV and declaration of legal origins of funds used to launch iGaming operation. Next, the prospective licensee should produce a description of all the gambling and betting services to be offered on their iGaming website and relevant contracts for securing rights to any offerings supplied by 3rd party providers. This is required in order show the legal right to place gaming content on the website. Applicant should also define about the target markets of business, ensuring restricted territories are not targeted. There are lots of websites running under Curacao gaming license on the Internet. Due to established track record, ease of application process and lax capital requirements, this jurisdiction is likely to remain the optimal choice for iGaming startups as well as default license for established operators.
Prospectacy Limited is a business advisory and legal expert that has broad experience in supporting iGaming businesses ranging from industry leaders to new entrants. We support online gaming operators with origins all around the world with Curacao license application and further company lifecycle. Due to unparalleled expertise, Prospectacy can assist with every possible aspect of setting up, launching and running online gambling business.