CURACAO, A SMALL but promising state in the Netherlands with its self-governing laws, especially in gaming, strengthens its jurisdiction by entering the European markets while creating its own taxation laws. That has made this seemingly small state one of the most attractive environments for obtaining gaming licenses.
If you want to start a gambling business in Curacao, all you need is one Curacao gaming license, which will be suitable for diverse gaming activities. In case your gaming business is planning to accept cryptocurrency, the information about crypto licenses available here – https://inteliumlaw.com/crypto-license/lithuania/ can be very helpful. As of November 15, 2023, new operators in Curaçao can apply for gambling licenses under the existing regime, known as the National Ordinance on Offshore Games of Hazard (NOOGH), directly from GCB.
How Can One Apply for a Curacao Gaming License?
How to get a gaming license in Curacao is quite complex. You will have to apply first from Curacao’s Gaming Сontrol Board. There, you will be asked to provide your business projections, criminal and banking history. Furthermore, you will be required to provide tools and strategies on ways your new company will prevent illegal and underage gambling and money laundering.
How Much Does a Curacao Gaming License Cost?
GCB online gaming license bears an annual fee of ANG 120,000 (approximately EUR 61,700). This annual license fee may be paid in installments, with an initial payment of ANG 36,000 (approximately EUR 18,500) upon granting of the license and monthly payments of ANG 7,000 (approximately EUR 3,600) starting from the first month.
The license fee is payable directly to the GCB.
What is the timeline for obtaining a Curacao Gambling License?
If you meet the necessary requirements, then expect to wait about 2-3months for approval.
What are the Benefits of Getting a Curacao Gaming License?
One of the most important benefits of having a Curacao gaming license is credibility. It fosters trust with players and other gaming companies. Other benefits include:
● Finance
It allows you to obtain a merchant account. Many financial institutions will not permit an online gaming business owner to access a merchant account without a license.
● Security
It will give you peace of mind, knowing that you can operate without legal repercussions at least from Curacao perspective.
● Reputation
Obtaining a Curacao license will assist in creating a transparent and fair gaming industry. It also helps in fighting stigmas.
What are the Requirements for a Curacao Gambling License?
To effectively build the eligibility and credibility of applicants, the Curacao authorities request some lengthy paperwork. Curacao gaming license requirements under the master license structure include the following:
For the sublicense requirements, they include the following:
Ideally, as an applicant, you will have to download and fill out three different forms from the state’s Gaming Control Board portal under the “Application” section, which are the Personal History Disclosure, Business and Corporate Information, and Online Gaming Application forms.
Conclusion
You will be under monitoring of Gaming Control Board now and will need to prove your compliance with new rules that are changing.
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