Curacao Gambling License for an Online Casino

Curacao is a small state on the territory of the Lesser Antilles in the Caribbean Sea. Until 2010 it was fully under the control of the Kingdom of the Netherlands, but was eventually granted the right to autonomy.

Good infrastructure greatly facilitates the registration of a large number of international companies. Online casino license is issued by the Department of Justice. Curacao online gambling license is intended for American and Dutch players.

Casino licensing is carried out on an individual basis. Providers who look for an online casino license may encounter very different requirements. They will have to meet a list of requirements, which are pretty loyal compared to other licensing bodies to buy Curacao casino license.

Curacao Gambling in Details (what exactly there is to be done)

Curacao online gambling license requires several rules to be complied with:

• an applicant has to undergo a registration procedure as a legal entity in the Chamber of Commerce;
• at least one founder must be the representative of the Netherlands Antilles;
• the work of the legal entity should be endorsed by the commissions, which carry out a number of identification and legal expertise;
• an operator shall provide information on all the games offered by the casino (the name of the developer, the targeted audience, storyline, etc.);
• servers should be located on the territory of Curacao;
• data on extensive support of the participants who have added to their player account should be provided;
• Curacao online gambling license imposes strict requirements for the software, which has to comply with all regulations (a number of expertises and comprehensive audits are carried out during the inspection);
• all founders must be full-aged to buy Curacao casino license.

All potential licensees can be consulted in the Control Board. But that kind of fun would cost $6000. Curacao online gambling license is comprised of different aspects, which is why the gambling company registration can cost $11 500-50 000.

Curacao online gambling license is costs $34 000 today. This includes registration, annual maintenance, investments to eGaming and the rest.

About The Process Of Online Casino Licensing Itself: Advantages

Curacao bypasses other jurisdictions due to the number of advantages, which make it one of the best in its sector. Such online casino license will certainly contribute to the development of the enterprise.

1. The authorized body works individually with all potential licensees. This applies especially to providers who operate multiuser networks and need to promote two or more brands.
2. An operator is offered high-quality technical capabilities of the international level. The servers are to be installed in Curacao. This will allow the provider to search for partners and rid itself of technical issues.
3. You can buy turnkey casino with license and connect all the necessary payment systems in this jurisdiction.
4. The gambling license is issued to a legal entity from any country. First and foremost, a licensee has to meet all the requirements.

All operators are subordinate to a single supervisory authority. It is obvious that an online casino license opens up vast possibilities for business development.

What Types Of Licenses Curacao Can Offer

There are two types of permissions issued under the jurisdiction of Curacao:

• direct license
• sublicense.

A direct license can only be formalized after all services have been registered. Before an online casino license is issued, the Commission will have to consider documents detailing each function. A  licensee specifies all business units that are managed by its partner and work under its name. The provider bears full legal responsibility for all that its partners do.

Sublicense is issued by a provider who has previously acquired it in jurisdiction after passing all tests, proving its honesty, confirming the quality of the software, etc. Only then a provider has the right to license own business. An operator applying for a sublicense should also comply with all the requirements prescribed by the Commission.

Sublicense is issued by private companies, which provide comprehensive licensing services. Thus, the process of obtaining a permission is made easier.

In any case, Curacao online gambling license will be respected by the players. Not every license has such prospects for business development and conditions so good.

This approach to the legalisation process and control of the gambling niche has been relevant since 1993 when the state first legalised the entertainment market by adopting the National Ordinance on Offshore Games of Hazard.

Three years later, the government issued four master licences for five years. From that moment, the holders of the main gambling permits did not change. They had wide powers in the gaming market. This made them absolute monopolists.

For example, Curacao master licence holders could grant sub-licences to applicants of their choice. They also had the right to resolve contentious issues between players and operators solely at their discretion without following any standards or international norms.

Gambling monopolies are the following companies:

• Cyberluck Curacao;
• Gaming Curacao;
• Curacao Interactive Licensing;
• Antillephone.

The first talk about changing the situation in the legislative field regarding the gambling market in Curacao began in 2019. The global trend of tightening requirements for casino operators and control over the gaming niche began to gain momentum around the world.

At that time, several amendments regarding gambling service providers were adopted. They also included updated rules for working with cryptocurrency assets.

During the ICE London exhibition, which took place on February 7-9 this year, the general public was informed about a fundamental change in the island's gambling legislation.

Legal Changes

Mr Sylvania, the Minister of Finance, announced the planned reforms in the state's gaming legislation. When speaking at the conference at the ICE London event, he noted that the Council of Ministers had already drafted a draft of the new law and sent it to the SER (Social Economic Council) for confirmation.

After approval by the first instance, the document will be submitted to the RVA (Council of Advice) and Parliament for consideration.

The Casino Market team highlighted the main aspects regarding changes in the gambling legislation of Curacao:

• The regulation of the gaming industry and the issuance of licences will be carried out by a new authorised body — the Curacao Gaming Authority (the body will assume the powers of the previously existing Curacao Gaming Control Board);
• more stringent requirements will be imposed on licence applicants in terms of security guarantees and control over the transparency and fairness of the play;
• the new legislation will change the tax rate for representatives of the gambling niche and provide a wider and more loyal communication between operators, gaming software providers, and banking structures both within the country and abroad;
• the physical representation of participants in the gaming niche will be strengthened on the island;
• current formats of permits (master and sub-licences) will be abolished and new types of documents will come into use with more structured and clear rules for the operation of entrepreneurs and casino product suppliers.

According to Mr Sylvania, the new legislation in the field of gambling environment control will come into force in the second quarter of 2023.

New Curacao Gambling Licence Formats

Instead of master and sub-licences, the government of the island is going to issue direct permits to applicants in two formats:

1. For B2B representatives. This is a work permit for suppliers of gaming products and services presented in the digital space. The category also covers certification of new content, approval procedures, and independent audits for compliance with international security standards.
2. For B2C clients. This licence is aimed at operators providing gambling services for money of any format. It is assumed that the new permission will be unified covering all gambling niches as before: from the lottery business to online slots and live casinos.

Since the adoption of the updated legislation, B2B licences will be considered an optional service for another two years. After the expiration of the specified period, this type of permit will become mandatory for each supplier who plans to cooperate with Curacao licensee operators.

The Rules for Switching to New Licences for Existing Operators

Enterprises that already have offshore sub-licences will have to request re-registration of documents no later than three months from the date the new law comes into force.

Within 90 days, existing market participants will have to complete an application, collect the established package of documents, increase physical representation on the island, and place a request through a special cloud service.

Until the application is considered and a new permit is assigned, the operators retain the right to provide gaming services.

Besides, the candidate can count on the so-called temporary licence. The document is issued for 6 months. It can be extended for the same period if minor and easily eliminated inconsistencies with the new legislation were revealed during the audit of the enterprise. During the validity term of the temporary permit, the operator can continue to work absolutely legally.

The Minister of Finance urged existing market participants and potential licence applicants to be prepared for the fact that the deadlines for considering applications will change.

Earlier, the approval of an application for certification of any gaming project took about 24 hours. After the adoption of new legislation, the procedure may be delayed (from 8 to 12 weeks). It is associated with the debugging and full launch of the updated licensing program and additional checks for candidate compliance.

The Procedure for Obtaining Curacao Licences for New Operators

If applicants register their companies in the offshore zone for the first time, they will have to complete the following steps:

1. Applying for the first stage of compliance verification. As part of the procedure, it will be necessary to provide an initial package of documents with the business plan of the enterprise and personal declarations of interested parties and pay registration fees.
2. Registering a legal entity on the island and passing the second stage of verification. The document package for undergoing the second step contains a complete catalogue of games with their certificates and descriptions of mechanics, a list of AML policies and procedures, and detailed technical specifications of the resource.
3. Obtaining a licence. This can be a full-fledged permit valid for five years, or a temporary 6-month document. The second option is issued if some minor violations of the established legal provisions were revealed during the verification of documentation and technical compliance of the enterprise.

Extended list of Requirements for Applicants

For many years, the government has been very loyal to the representatives of the gaming market, making minimum requirements for them. For example, to run a gambling business, an entrepreneur had to hire one local representative, host a server on the offshore territory, and block access to games for citizens of Curacao.

Additional rules and requirements for applicants for offshore gaming licences, which will come into force in the second half of 2023, are as follows:

Guarantees of Transparent and Fair Play

To ensure a safe gaming environment, the operator should:

• undergo regular independent checks;
• upon request, provide documentation and technical specifications of the software for audit by the Curacao regulator;
• undergo additional content certification procedures (this condition is still optional).

Customer Protection Commitments

Each market participant will need to implement a comprehensive system for defending vulnerable categories of users. The program should include:

• transparent and clear responsible gambling policies and confirmation of their compliance with international legal norms;
• honest and safe protocols for resolving any disputes with clients;
• a mechanism for open consideration of complaints from both customers and partners or other representatives of the gambling environment;
• functions of the temporary and permanent restriction from the play, including various betting limits and the self-exclusion option/deletion of the user account.

Combating Fraud and Financing of Terrorism

All provisions of the updated gambling legislation of Curacao will be brought into full compliance with international standards.

In addition, local licence applicants will be required to register on the goAML program lists and follow all of its principles.

Enhanced Physical Presence in the Offshore Territory

Previously, to launch a casino business, it was enough for an operator to register a local legal entity and hire one representative.

The new rules require applicants to:

• open a real physical office and provide its full functioning for at least five years;
• arrange office space following the theme of the business;
• ensure the physical presence of at least three key positions of the enterprise (persons in the position of director, manager, and operational specialist).

For novice start-ups, the regulator puts forward relaxed requirements for the management of physical offices. However, they will be valid only for the term of a temporary licence.

The Due Diligence Program

All key persons involved in the organisation and operation of a business project must be verified. The procedure applies to both authorised representatives and founders of the company, as well as shareholders or investors.

Operators will also have to indicate the official or persons for controlling the financial turnover. These representatives will also take on compliance with responsible gaming, anti-fraud, and AML policies.

Taxes, Fees, and Cost of Curacao Gambling Licence

Before the new legislation comes into force, operators should focus on the previous cost of a gaming permit — $34,000.

At the moment, full information about tariffs, amounts of mandatory fees, and duties is not disclosed.

It is assumed that the initial fee for consideration of the application will not exceed 4,000 euros. The annual payment for the maintenance of an active licence will be about 12,000 euros.

The Minister of Finance noted that the offshore zone is actively negotiating with various banking institutions and payment service providers to establish more loyal and mutually beneficial relations with local licence holders.

The new bill will include a separate provision on the norms of control over cryptocurrency transactions.

Regarding taxes and benefits for the gaming industry, Mr Sylvania said that the government is considering several financial initiatives.

For example, there is an active discussion on the possibility of eliminating any tax liability for the first 10 years of work for operators who have confirmed full compliance with the new legal provisions.

The possibility of cancelling the sales tax for applicants for B2B licences and introducing reduced rates on salary deductions when hiring foreign specialists are also being considered.

If you need to know how to obtain casino license in the fastest possible way you can seek for help with the Casino Market agency. This team of experienced professionals will help the young businessperson to succeed.

If you do not know what to do or where to go to and, in fact, haven’t the slightest idea of how to get a gambling license for casino please contact the company. Casino Market offers free consultation on casino licensing and how to get a casino license. Here you will be advised the right thing to do to satisfy the requirements of jurisdiction.

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James Burton The Casino Market partner, the owner of the gambling establishments’ network