Costa Rica is a popular business hub with a favourable strategic location and a beneficial legal framework. The jurisdiction is considered one of the best for launching gaming projects of various formats in 2024.
The Casino Market team has prepared a list of basic requirements for operators wishing to obtain a Costa Rica gambling licence.
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Key Requirement for Starting a Casino Business
A legal entity must be registered in the country. This is one of the primary obligations for applicants for a Costa Rican gaming licence.
Usually, entrepreneurs choose the Sociedad Anónima (S.A.) or Sociedad de Responsabilidad Limitada (S.R.L.) formats. These variants provide investors with various services to protect limited liability.
Structure and Management of a Gambling Startup
A resident must be appointed as the official legal representative of a gaming project. Usually, this is a lawyer responsible for interacting with local authorities.
All limited liability companies must have a board of directors with at least 3 members:
- treasurer;
- secretary;
- president.
Combining these positions is unacceptable. Another important aspect is that one or more council representatives must be Costa Ricans.
An applicant for a local licence must have 2+ shareholders in its enterprise structure. These can be legal entities and individuals. There are no requirements for their citizenship.
Algorithm for Obtaining a Data Processing Licence
The regulator does not issue specialised gambling permits. Instead, entrepreneurs receive Licencia de Procesamiento de Datos, a data processing certification. The document allows for organising any kind of RMG projects in the online segment.
The application for a licence is submitted directly to the government. Along with the request, the future permit holder must provide detailed information about the company, its owners and the nature of the gaming operations.
The country does not have strict rules regarding the organisation and advertising of gambling businesses or processing bets. However, applicants must ensure that the enterprise works responsibly, complies with global data protection standards, and avoids violating the country’s laws.
Crucial Financial Aspects
Local legislation does not impose requirements regarding the authorised capital of gaming companies. At the same time, the state strictly adheres to the standards of the international AML program.
An operator applying for Costa Rica’s licence must connect progressive KYC services to the project and constantly monitor the movement of funds. Any suspicious transactions are immediately reported to the relevant regulatory authorities.
The country’s tax system is designed to provide investors with the most comfortable conditions for starting and subsequently expanding a business.
Among the essential requirements for gambling companies are:
- timely filing of annual tax declarations;
- mandatory payment of fees provided by law.
At the Casino Market studio, you can get detailed advice on financial nuances in different jurisdictions and enlist expert support at all business registration and licensing stages.
Features of Labour Legislation
Personnel of gaming enterprises must have written employment contracts that describe the following:
- specifics of hiring;
- list of social benefits;
- salary amount for the position held;
- detailed description of working conditions.
The corporation’s staff must be registered with Caja Costarricense de Seguro Social (CCSS), a social security fund. Special contributions will be deducted from the employees’ salaries monthly to cover health insurance, pensions and other benefits. If an operator fails to comply with the established standards, their enterprise will face significant legal problems and penalties, up to permit revocation.
Ensuring the Safety of Intellectual Property
The jurisdiction has developed an extensive range of measures to protect personal data and copyrights.
Crucial aspects of the program:
- Trademark registration. This mandatory procedure eliminates the possibility of third-party individuals and legal entities using operators’ logos, brands, and other identification elements.
- Copyrights and patents. The country provides a convenient service for registering exclusive management software and unique gaming content. Costa Rica is a permanent participant in international agreements on intellectual property.
- Domain registration. The state provides digital addresses with the .cr identifier. Casino owners should register a website name in advance, even before applying for certification. In this case, it will be indicated in the initial list of company characteristics, and other enterprises or individuals will not be able to claim it.
Rules Regarding Data Privacy
The country has laws regulating the requirements for collecting, storing, and processing personal information. Failure to meet these norms may result in the licence being revoked.
Operators should prove that their platforms comply with international data protection standards, such as GDPR.
Advertising of Gambling Businesses in Costa Rica
The local government highly values and encourages adhering to responsible gaming practices. Online casino marketing campaigns should fully reflect the format of the services provided. For instance, passing off a gambling project as a regular entertainment platform is prohibited.
Operators must stay away from vulnerable groups and avoid encouraging excessive activity in an RMG environment. Advertising should not contain misconceptions and false statements. It is best to discuss products for promotion together with local lawyers.
Entrepreneurs must obtain a special permit to organise various PR and sponsorship events. The document and subsequent advertising materials must include a complete list of conditions for awarding and distributing prizes.
Operator Compliance Monitoring
The government’s program for ensuring rule adherence includes the following notions:
- Annual reporting. One of the main requirements of the local regulator is the timely filing of financial statements and other required documents.
- Fraud prevention. Online casino management must provide the ability to complain about illegal or suspicious activity on the platform. This is a decisive factor that affects the possibility of a permit renewal for further operation with Costa Rica’s approval.
- Regulatory updates. Entrepreneurs must be aware of all changes in supervising the gambling segment. For this purpose, companies often hire local lawyers.
- Licence prolongation. Failure to meet the deadlines for document renewal and re-registration leads to significant fines and suspension of the corporation’s activities.
The Main things about the Costa Rican Casino Permit
Obtaining a gaming certification in the Central American jurisdiction is one of the best ways to launch a legal iGaming platform in 2024. The local government has created the most favourable conditions for opening, promoting and scaling gambling startups of any format.
Essential notions from the article:
- The regulator does not impose requirements on the authorised capital. This allows operators to launch a business quickly, even with minimal initial investments. The main thing is to prove the transparency and legality of the funds’ source.
- The jurisdiction issues a specialised licence for data processing. This document allows for working lawfully in any segment of iGaming, from sports betting to websites with slots and poker rooms.
- The country has an effective program for protecting intellectual property. Gambling brands can obtain patents for any of their developments and trademarks, as well as pre-register unique domain names with the .cr marking.
You can learn more about the nuances of launching a legal online casino in 2024 and order the development of an exclusive turnkey entertainment project from our studio.
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