Where it is profitable to get an offshore gaming license in 2020
Gambling business has not lost its popularity in recent years. This is due to the fact that people tend to get "easy profits" always, regardless of the economic and epidemiological situation, and gambling service providers more than satisfy their needs. Strict ban on online casinos is in force only in 7 countries (Cyprus, Cambodia, UAE, Brunei, Singapore, DPRK and Poland). The rest require a special permit from gambling service providers.
Why is it necessary to get a gambling license 2020?
The availability of a license from a gambling service provider significantly increases its business reputation, eliminates possible problems with the law and financial risks, and makes it more reliable and "proven" in the eyes of users. There are other advantages as well:
- the possibility of open and legal advertising in any authorized information sources;
- the possibility to purchase licensed specialized software and content for the site;
- reduced probability of corporate bank account and merchant account failure;
- possibility to work with large electronic payment systems.
Obtaining a gambling license is necessary for those companies that are planning to do business legally and, in the long run, to become confident players on the global market. Most often, registration of a gambling license implies automatic registration of the company, so the choice of jurisdiction should be carefully considered.
IT-OFFSHORE specialists have been working in this field for many years, they know the world market of Internet gambling and can offer a turnkey gambling business. Our analysts distinguish three popular offshore jurisdictions for registration and licensing in 2020.
Curacao Gambling License
In the jurisdiction you can get both a full gaming license Curacao and a sublicense. Their registration will take from 2 to 4 months. Registration of the license will cost a little less than 15 000 euros, the monthly mandatory fee will be 5 500 euros with its validity period of 5 years. The sub-license is issued indefinitely and costs an order of magnitude cheaper - about 3 500 euros.
There is no income tax, but the corporate tax depends on the conditions of the company registration and ranges from 0% to 2%. Curacao is considered to be the best jurisdiction for business start-ups, as the procedure for processing documents and obtaining a permit in it is simplified to the limit.
Gambling license of Isle of Man
On the island, as in Curaçao, you can get a license to operate in a gambling commission or buy a sublicense from a major gambling service provider. However, they will cost much more. The total cost (together with the annual fees) of the full permit - $ 35,000, sublicenses - $6 500.
The process of obtaining them will last for 4-6 months, and taxes on profits will depend on its size (0.1-1.5%). There will be no corporate tax provided that local residents are excluded from gambling.
Gambling license Costa Rica
Gambling license Costa Rica is not in its classical sense. The legal framework of the jurisdiction does not regulate gambling on the Internet, so for its implementation entrepreneurs only need to register a company in the country and get permission to process the personal data of potential customers.
To organize online gambling outside the country there is a special Data Processing License, it can be completed in less than a month.