Features of obtaining a Curacao gaming licence
Obtaining a gaming licence in Curaçao in 2020 is relevant nowadays, as the jurisdiction is characterized by low tax burden and moderate requirements to recipients. Please contact our IT-OFFSHORE specialists to get answers to your questions about authorization.
Licence types and benefits
Curacao is an island state in the south of the Caribbean Sea. The gambling industry in the country began to develop in the early 90's, when a decree controlling the gaming sector came into force. Licencing began in 1996.
There are two types of Curacao gaming licences in 2020: basic and sublicence. The presence of any of these documents allows for any kind of gambling activity. The basic licence is issued once in five years and is active, while the sublicence is permanent.
The advantages of registration:
- Availability of a licence allows you to legally conduct business and improve your respectability;
- If you have a permit, it is easier to open a business account with a bank;
- The licence guarantees the reliability of the company;
- Software vendors are more likely to cooperate with authorized operators.
The registration process takes on average 6-8 weeks. Taxation is quite low. It is easier to obtain a document than in many other countries such as Costa Rica, Malta, Gibraltar.
Requirements to obtain a document
You can buy the Curacao Gaming Licence in 2020 only if you have the required documentation package. It is also necessary to register a legal entity in the country. Registration of a company is possible after providing data on the absence of a criminal record of all project participants and passport information. You need a certificate from a bank about opening a company account.
To obtain a permit you need to provide proof of ownership of the domain name, detailed information about game content, a list of states with which cooperation is supposed to happen, data about server objects, etc. In addition, it is required to have a transit server.
Recipient of permission must register a legal entity, and pass the procedure of identification expertise. Besides that, there is an audit of game equipment. One of the founders should have resident status.
Is it possible to conduct business without a licence?
To obtain a licence, an organization must be registered in the jurisdiction. It is necessary to prepare all the requested documents, apply and pay fees, and once approved, activities may begin. Until a licence is issued, if approved, the committee checks that the business meets the standards. Only local companies may apply for a licence.
You should not run a gambling business without a licence. Often, software vendors refuse to work with unlicenced operators. Casinos working without a licence acquire a negative reputation, while there is also a risk of significant fines and imprisonment.