Dominican Republic Gambling License: ideal conditions for launching a gambling establishment
The Dominican Republic is located in the middle of the Caribbean Sea on the island of Hispaniola. Its legislators have created a prolific climate for business, and the taxation system seems ideal to many businessmen. For these reasons operators from around the world are interested in the Dominican Republic online gambling license.
In order to obtain an online casino license in this state, we offer you to address Casino Market. Qualified specialists of this company will help you to buy Dominican Republic casino license and will do everything to ensure that your business fully caters to the needs of the regulator.
The gaming industry of this country mostly depends on the tourism industry, which has turned the region into a large entertainment zone. On the average, more than 5 million come to the republic every year.
Originally, the domestic gambling business worked only for foreign tourists. But the industry continued to grow, and for this reason the government has decided to allow domestic bookmakers to launch "one-armed bandits". Currently, an online casino license has been issued to 60 owners of land-based gambling establishments.
The government of the republic was able to make laws that regulate the work of an iGaming industry. With their help, the market expansion is controlled and restrictions on the activity of bookmakers and lotteries are imposed.
The Dominican Republic online gambling license is issued by the gambling division of the Ministry of Finance. Casino licensing is not the only function of this body, since it also deals with the whole regulation of this sphere. If the online casino license of the Dominican Republic is issued to the bookmaker, then the Ministry of Sports also exercises control over it.
Lottery Nacional controls the lottery operations. The main law No. 351, which regulates gambling in the Dominican Republic, is in effect since 1964. The law says that casinos are an additional tool that helps to woo tourists to the country.
It is much easier to buy Dominican Republic casino license than permits of other countries. The state does its best to provide international operators with comfortable business environment.
The first casino licensing procedure in the state has passed over a decade ago. The gambling company registration is conducted by the gambling division of the Ministry of Finance, and the summative assessment is made by a special commission, which includes:
- Minister of Security;
- Director General for Tourism;
- Director General for Domestic Taxation;
- Minister of Finance.
Loyalty of laws makes the region attractive for investors because of several reasons:
- there are no specific requirements for operating statement;
- an online casino license is issued within the shortest possible period of time;
- a personal attendance of licensees when obtaining a permit is not required.
Currently, an gaming license is issued in accordance with a scheme that is used for a procedure of the registration of land-based casinos. Although, the regulating authority has not yet developed any special requirements, it promises to make things better in the very near future. Therefore, today the Dominican Republic online gambling license is issued under the same procedure as for land-based gambling establishments.
Owners of the gambling business must meet the following requirements:
- Licensees are owners or lease holders of a first-class certificate for a hotel. However, those operators, who have a gaming license, also have the right to involve a third party to delegate management. On this occasion, a manager will have a legal liability and the responsibility for tax remissions.
- Casinos should be located in a tourist zone.
- Operators are obliged to confirm solvency, as well as a good reputation of shareholders.
A petition addressed to the Minister of Finance should contain the following information:
- presentations of games and their working principles;
- data on bonus systems;
- opening hours;
- copies of all constituent documents;
- testimonial that confirms the absence of a bank debt;
- complete information on the management team;
- detailed project with investments, infrastructure, planning, etc .;
- information on the limits of bets.
Afterwards, the National Commission will perform an expert examination, with reference to which a final decision will be made: whether to grant a Dominican Republic online gambling license or not.
Mostly, the Dominican laws are simple and loyal. But if you really need an online casino license, you will have to make a little effort. There is nothing complicated, it is only about formalities. Casino Market will solve all problems and will do everything to make your online casino with the license issued by Dominican authorities one the best on the market.
If you are a beginning entrepreneur and you do not know how to get a casino license, we can offer you another option: to buy turnkey casino with license, thus saving your time and money.
Together with Casino Market you will certainly become a successful businessman.