The jurisdiction is set to implement the LOK — National Ordinance for Games of Chance. The incorporation of new norms started on September 1. There was a special application site opened by Curacao's GCB entertainment regulator.
Nuances of the Legal Transition
The internet platform for applicants has all the information about the requesting process and a comprehensive step-to-step guide. The owners of amment projects can send their filled-out forms, starting from November 15.
The portal has 2 core functions:
- reviewing new permit requests under the currently active rules;
- registering sublicensees who want to continue valid operations.
The authorities will consider the submitted documents within 2 months. If the papers are filled out correctly, entrepreneurs will obtain their provisional approvals. Then, a half year will be given to comply with subsequent regulatory requirements.
Later, the gambling controller will be substituted by the new body CGA (Curacao Gaming Authority). However, operators, who apply for a permit before the official replacement of rules and the regulator, can be supervised by the GCB. When the LOK norms come into force, the government will put existing applications under the newly established regime at any stage of their review.
Terms of Registration and Types of Forms
The jurisdiction works with gambling organisations that are based in the country. The studios must ensure the following:
- a local address;
- 1+ named director in the state.
There are no requirements for having regional offices or employees. Master licensees can officialise their operations only on the territory of the jurisdiction.
The registration procedure includes 3 types of forms, already available for downloading from the portal. These are an application document and corporate and personal reports. The latter is obligatory for UBOs, holding capital of over 10%, and C-level management.
This summer, Sixiènne Jansen, juridical consultant to the country’s Ministry of Finance, commented on this whole situation during the iGB L! VE event. She said that the authorities wanted to extend the validity of master approvals for a year. The regulator also aims to support uninterrupted operations for sublicensees.
Casino Market experts will help you obtain the Curacao permit or official documents from other prestigious jurisdictions. By resorting to us, you can successfully open a gambling project without risks and overpaying. Contact the studio’s managers to start a lucrative partnership.
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