5. Why Curacao?
Without a license, it is very difficult to develop a gambling business. Vendors sell good software with bad grace, players do not communicate willingly, and regulators dream of getting into your bookkeeping department and check its legality. Therefore, a permit is definitely necessary but where to obtain it is another question. Below, we will consider one of the most popular jurisdictions and find out why the Curacao gaming license is so in-demand.
The information was prepared with the help of specialists of the Smart Money company, which deals with the gambling project administration from cover to cover.
To define the scale of the influence of this exotic island on the gambling business, let us have a look at one fact: every ninth gambling project in the world works under the Curacao casino license.
The island is located next to the coast of Venezuela and belongs to the group of the Lesser Antilles in the Caribbean. Until 2010, it was considered an autonomous region of the Kingdom of the Netherlands, and now, it is a self-regulatory federation within the Netherlands.
The jurisdiction has been issuing licenses for more than twenty years. This permit is one of the most “high-quality” one on the gambling market. It has become a kind of standard of the service, and Curacao gaming license holders are required to comply with the level of service that is established on the island.
Customer standards in Curacao:
- Operators have to track each financial transaction of each gambler (deposits, withdrawals, bets, payments for additional services) within the casino’s interests.
- Bets can only be accepted from non-residents of the Antilles over eighteen years old. Any transactions from residents or people under the age of eighteen should be rejected.
- All gambling software, databases, and other information that is related to the activities of a casino should be stored within the territory of the jurisdiction or pass through a transit server and be accessible for the audit check carried out by the third parties. That is how Curacao provides control over the operation of casinos.
- Gambling clubs should use unethical methods in marketing and advertising campaigns.
It is worth noting that the jurisdiction really keeps an eye on carrying-out of these requirements. Therefore, those casinos that have an international Curacao casino license enjoy the special confidence of experienced gamblers.
As you have already understood, with such a serious approach, the main regulator of the island ― Internet Gaming Association ― has a whole set of rules, requirements, and conditions.
Types of Permits
To begin with, the Curacao license can be of two types:
- A global license, which gives the right to carry out all types of gambling activities and issue sub-licenses. On Curacao, a license of this type is not issued today: in order to prevent sponsorship of terrorism and money laundering, the regulator has suspended the issuance of this kind of permits. Now, there are three holders of such a document, which have completely monopolised and divided the market.
- A sub-license is a permit that gives a limited set of rights to conduct gambling activities. It should be noted that all casinos that have an international Curacao gaming license are the owners of sub-licenses. So, this document is perfect for online casinos, despite some limitations.
Several Requirements for Developers of Gambling Projects
Before filing an application for the Curacao gaming license, you need to take the following steps:
- register the company within the jurisdiction;
- register the enterprise with the Chamber of Commerce and make it totally legal;
- place a transit server on Curacao;
- make a security deposit in the amount of sixty thousand guilder Netherlands Antilles (about thirty-five thousand dollars).
After that, future Curacao gaming license holders can start collecting documents for filing an application. Also, among the directors of the company, there must be at least one local resident.
The following requirements can be applied to firms that have already obtained a Curacao gaming license and are successfully conducting gambling business:
- file annual reporting to tax authorities by June 30 (even with no profit);
- publish on the website the Rules for using the resource, the procedure for storing personal data of users, and a detailed description of the way to get the money back in case of some mistake;
- any complaints of players should be recorded, and then everything will be resolved by the technical support service of the website;
- operators cannot register on the website minors and/or citizens of the Netherlands and islands.
A Package of Documents for the Curacao Gaming License
Personal information of the beneficiaries: certified copies of passports, extracts from banking institutions, letters of reference, resumes, data on their sources of income, utility bills not older than two months, and certificates of no criminal record.
- A business plan with a detailed description of the costs for opening a gambling club, distribution of revenues, and the marketing strategy.
- Proof of the right to use of a domain.
- Technical description of the software, games, and other programs that will be presented on the gaming site.
- Documentary proof of the right to use the software (according to the intellectual property law).
- A public-private partnership certificate.
All documents must be issued less than ninety days before the submission.
It is interesting that in Curacao, the online casino license of is more often issued to those companies that declare that they will make a significant contribution to the development of the island’s economy and society before the application is filed.
The list of documents is quite big. And, among other things, they must be prepared in accordance with local regulations, translated, and notarized. We strongly recommend you to prepare a data package with the help of experts in the field of casino licensing.
The total Curacao gaming license cost can be divided into three parts:
- a fee for the pendency of an application is about thirty-five thousand dollars;
- monthly royalties of about five thousand seven hundred dollars; the size of the payment can be reduced after two years of active work under the Curacao license;
- expenses for the operation of a permit and a business: it includes the services of a formal director ― from five thousand dollars per year, the placement of a server, and hosting services from twelve thousand dollars annually, etc.
As you can see, the Curacao gambling license price is quite high. However, the game is worth the candle, and the costs fully pay off by the advantages of this document.
There is another category of taxes but taking into account the loyal policy of Curacao, a permit here allows operators to pay very small amounts of money to the government.
On the island, an online casino permit provides the payment of taxes in the amount of 22%. However, those companies that specialise in the gambling business and are registered in the special economic zone E-Zone have the right for some benefits. They can pay only 2% of the profit until 2026.
Moreover, the jurisdiction has abolished all related taxes and restrictions on the acquisition of dividends.
Entrance to the E-Zone has huge advantages:
- 0% tax on the income of a casino;
- 2% of the profit tax in E-Zone;
- the lack of VAT and import duties;
- no restrictions on the withdrawal of revenues.
Date: on Curacao, a permit is obtained within one calendar month.
Despite the fact that the Curacao gaming license cost is rather high, it is in quite popular since there are several indisputable advantages that this jurisdiction can offer.
Positive aspects of the Curacao gaming license:
- It allows you to carry out all types of gambling activities: operate land-based casinos, online casinos, and betting shops, and organise lotteries and poker tournaments.
- The price of a permit is lower than the costs of offers of other jurisdictions.
- The island has a well-developed Internet infrastructure for the business: private cloud services, servers with individual settings, a large selection of reliable hosters, etc.
- The commission does not require operators to have a big initial capital or make large deposits to obtain a license.
- On Curacao, casinos receive a permit as soon as possible.
- The jurisdiction is known for a high degree of objectivity in the analysis of disputable situations, which is really important for the gambling sphere.
- The island is technically part of the European Union, which means you get access to the European market.
- Taxes are very low!
We strongly recommend you to contact specialists who will help you to get a permit in this country easily, as quickly as possible, and without delay.
Difficulties in the field of eGaming licensing are, first of all, related to the need to understand what the commission’s inspectors pay attention to. It is important to know what a business plan should look like, what kind of a resume can make the commission make a decision in your favour, and what should never be recorded in any document.
The Smart Money company is a true master of its craft. You can ask your questions to its specialists, secure assistance in preparing the package of documents or order a turnkey permit.
Smart Money is a reliable partner who will not only deal with the casino license but also help you with the purchase of high-quality software, selection of slots, and marketing promotion. And if necessary, the company will create a ready-made gambling project from scratch, according to your preferences.
Contact us right now in any way that is convenient for you, and we will immediately start working on the implementation of your challenges:
- email: email@example.com
- Skype: sm.pay
- the feedback form.