Obtaining gambling license in 2019
Gambling is regulated in any country. However, there is no single legal form that determines the status of games on the Internet. At the same time, according to the laws of some jurisdictions, companies that operate in the direction of online gambling must issue a special license.
The importance of obtaining a license for gambling business
A gambling license is a certificate issued by an authorized body that allows you to conduct legitimate activities that are associated with gambling, betting. Requirements for registration may vary in different jurisdictions.
Basic, standard license terms:
• Compliance with standards of honesty and decency;
• Providing accurate and complete information about the institution, owners and persons associated with it;
• Providing requested data on specific individuals in the organization.
In the most prestigious jurisdictions to obtain permission for this type of business is particularly difficult. Strict measures are needed to prevent the work of illegal and fraudulent organizations.
Obtaining a gambling license is a must when registering a casino online. So you can increase the prestige of the casino, gain the trust of users of services To conduct activities solely on legal grounds, it is necessary to have a license of the Regulator of the country in which the casino base is located.
In this case, it is often required that more than 50% of all transactions be performed in a jurisdiction where official permission to open a casino is obtained. In this regard, the choice of jurisdiction for business is an important step before obtaining an activity permit.
Choice of jurisdiction and license
Almost all over the world, gambling is common, however, not all countries are allowed to play. For games on the Internet, users of some jurisdictions face huge fines, for example, online casinos in the UAE, Singapore and some other jurisdictions are prohibited.
In most countries, game restrictions are minimal. However, it may be difficult to obtain a license in some jurisdictions, since there are not always regulation rules in this area, it is considered to be fairly new.
General instructions for issuing permits for activities:
• Selection of the most appropriate jurisdictions;
• Preparation of relevant software in accordance with the terms of the selected jurisdiction;
• Preparation of personal documents and information about the company, data on software equipment;
• Website development in accordance with the requirements of the country of registration.
Obtaining a license to conduct a legal business is required. Without a permission, you cannot open a bank account, work with electronic payment systems, and obtain licensed game content. With a license, the reputation of the institution increases.
Where to get a license
You can get permission to create an online casino or tote in many countries, however, there are jurisdictions that are most popular for obtaining a license. For advice on choosing a country to receive a gambling license, you can contact our IT-OFFSHORE specialists.
You can get permission on Gibraltar - the jurisdiction is considered to be the center for online game play. The main requirements for companies are stable financial condition, availability of a business plan. A plus will be the availability of a license in respectable jurisdiction.
One type of license is offered in Curaçao, however there are two formats - basic resolution and sublicense. The main permit is valid for 5 years and can be renewed automatically if all requirements are met. Sub-license has no expiry date. Six classes of licenses exist in Malta. Depending on the classes, tax charges vary.