If you know the gambling industry well, you may have noticed that most successful casinos have been licensed in Curacao. Their list includes Stake, Jokersino, Cloudbet, Bitstarz, and many other global giants. Statistics show that about 70% of all gambling projects have an online gaming license in this country. In many ways, the choice of this jurisdiction is explained by the fact that it has a high level of trust among players and investors and has a considerable number of advantages.
A few words about Curacao
It is a small island in the Caribbean that belongs to the Netherlands. However, there is a self-governing state entity, the majority of the budget of which comes from the gambling industry. At one time, the government of this country discovered a gold mine in the form of a license for casinos and bookmakers, which allowed not only to fill the budget but also to glorify this jurisdiction throughout the world.
Today it offers the most straightforward, fastest, and most thoughtful system for obtaining a license, and casinos that have received a work permit here can legally operate worldwide. Next, we want to talk about the main advantages of this jurisdiction and what requirements it sets for gambling projects.
The main benefits of this jurisdiction
Obtaining Curacao license has a considerable number of benefits, but we want to consider only the most important ones:
- Suitable for all kinds of gambling services. It does not matter what type of gambling project you want to run – a fiat casino, a crypto casino, a bookmaker, or one online gambling game, this jurisdiction will be an excellent choice.
- Streamlined and simplified licensing procedure. The government is interested in ensuring that as many companies as possible get permission to work here, so it has created the most simple and understandable licensing system without corruption and unnecessary bureaucracy.
- Quick launch. If you collect all the documents in advance and they are correctly executed, you can launch your casino in 2-3 weeks.
- Low taxes – 2% of net profit (not the total, as in other countries).
In addition, here, you need to collect a relatively small package of papers, including personal data on beneficiaries and shareholders, information on the corporation’s financial condition and the percentage of revenue, and data on the state of personal accounts of the company’s owners. Tactfully, many gambling business owners like that having such a permit makes it possible to work legally throughout Europe, North America, and Asia, which helps to expand the market and attract new customers constantly.
On average, from filing documents for licensing to the casino launch (if the software was created in advance), it takes about 2-3 weeks. All papers can be submitted electronically, and you do not need to personally fly to the island in the Caribbean (except on vacation).
Basic requirements for applicants
As mentioned, this jurisdiction does not impose complex requirements for gambling projects wanting a permit here. Among the most important are:
- The organization must be registered in that jurisdiction. As a rule, this process takes from several hours to days. All documents can be submitted electronically.
- Availability of a local representative. Your company must employ a person who will reside in this jurisdiction and regularly lives on the island. If regulators have questions about your company’s performance, they should be able to provide full clarification.
- Detailed description of games. You must provide a detailed overview of all games you will offer your customers. You should get a specification from the software developers.
- At least one physical (non-cloud) server must be located on the territory of the island;
- You must verify the details of all players to ensure that they have not been involved in fraud or money laundering.
- Regular technical audit. You must regularly review the operation of your company, including software.
- Your software must be RNG certified.
In addition, people need to provide information about all key company employees. Regulators will check to see if they have a history of criminal records, fraud, or money laundering.
We advise you to obtain the necessary documents in advance from gambling providers from whom you rent or buy gaming software. Check in advance whether they are filled in correctly.
Although obtaining a permit in this jurisdiction is as simple as possible, you can only do with the help of experienced lawyers. Gofaizen Sherle specialists will provide comprehensive advice, answer all questions and help collect the necessary documents. With their help, obtaining a license will be as quick and straightforward as possible.