How To Get A Gambling License In South Africa: Key Ideas to Start Your iGaming Business in RSA18 april 2019
The fast-growing markets of any industry are very attractive for each investor. So, if identified as one, an area with the high market dynamics has good chances to raise foreign funds. These investments make their contribution to GDP of local countries, employment of population, development of infrastructure and tourism etc.
In its turn, an investor also gains due to high rates of his business growth. It makes sense to explore such markets in different spheres, for instance, such as the gambling industry, though some of them may have various restrictions.
Casino Market provides free consultancy for obtaining a gambling license to those who consider starting their business in Africa. The specialists of the company have gained deep insight into the local laws and other aspects, for example, how to get a gambling license in South Africa.
The African countries are a place of intense interest of gambling business owners from the whole world. During three years (2015−2018) the market share of African countries in the global gambling business doubled. And this trend takes place despite only 25% of Africans can use the Internet. Almost one billion people have no good-quality access to the Internet in the whole Africa.
Besides, those of them differing from the rest of the continent by their outperforming economic growth and gambling business potential have been always a desirable target of foreign capital. The Republic of South Africa (RSA) is one of them.
Notwithstanding the promising potential, South Africa has banned gambling business in 1965 except for some kinds of betting. This solution was motivated by the negative effect of gambling on population. In 1994 the authorities lifted the ban and casino business become legal.
But the disputes in the legislative bodies have led to the enactment of another regulation act in 2008. This act states the web gambling to be illegal and prohibits online casinos and slots. Only sports betting online is allowed.
The ban on iGaming is traditionally considered to be provided because of the negative impact of gambling on population. But at the same time, this can be fueled by the strong lobby of the land-based casinos in legislative authorities which deem the online gaming resources to be stealing their customers and profits.
Instead, the best way to protect the public is to develop better regulations. This obviously failed in 2008 but it is expected to be done in future.
But those citizens who gamble online slots based on the servers deployed abroad face no ban except for possible exemption of their winnings by regulatory authorities. It seems that the locals encounter more challenging circumstances. Access to the online slots is not available to a huge number of Africans merely because of poor Internet conditions outside the cities.
But due to huge interest to this country, there is the need in a guideline on how to get a gambling license in South Africa. Especially for those who is a non-resident of the country. The relevant data is presented below.
Non-residents have an opportunity to get a gambling license in South Africa. For this, a non-resident person shall apply to the relevant local authorities on business setting up. At that, a business plan attachment may be required.
When a permission is obtained, the applicant shall go to the Embassy of South Africa in his country and apply there. Then, the residence permit shall be obtained as well as the right to enter the country.
The company is to be registered at the Companies and the Intellectual Property Republic and the Chamber of Commerce of RSA. It may take up to six months to get all these permissions. Then all the required licenses and certificates shall be obtained.
The amount equal to about $ 40 thousand shall be deposited on the banking account of the applicant. This sum is required to be transferred to any bank in the RSA when applying to the Embassy of South Africa.
The registration fee amount depends on the province of RSA where the company is to be registered.
To get free consultancy and purchase a gambling license, contact Casino Market. The company staff includes professional specialists who provide all sorts of advice on starting the gambling business in any country.
Casino Market also provides various turnkey casino solutions which may become a part of your profitable business very soon.
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