How to Start a Web Casino in Belize: Advice of Smart Money Specialists

It is possible to launch an iGaming platform in Belize by obtaining a licence for the provision of real-money games to the population. A permit issued in the region is highly valued by both players and business owners since to obtain it, applicants must fulfil some strong requirements. In fact, only seriously tuned entrepreneurs can count on this cherished document.

Although there are more popular jurisdictions (e.g. offshore zones Curacao, Gibraltar, or Malta), Belize is one of the states with huge hidden opportunities. Its popularity in certain circles is constantly growing.

Learn about the benefits of the jurisdiction’s licence and how to obtain it from Smart Money experts.

Order service

Top 3 Advantages of Running a Gaming Project in Belize

These are the biggest benefits of working in the country:

1. In recent years, Belize has been considered an actively developing centre of financial relations in Central America. Considering that geographically the state belongs to the Caribbean Basin and offers excellent conditions for organising and implementing gambling projects, there is a constant increase in demand among entrepreneurs from Canada, the USA, and the UK.
2. The official language of Belize is English since the British Crown ruled all affairs here for a long time. That is why it will be relatively easy to execute the necessary documents. Moreover, all business communication has a European format.
3. The country is one of the offshore zones, so it willingly registers casino platforms and provides them with beneficial development opportunities: zero taxes, fast registration, and a loyal attitude towards gambling.

These points are favourable for almost any project but there are also several advantages that only online casino owners can fully understand and appreciate:

• vendors of high-quality iGaming software easily agree to work with companies licensed in Belize;
• players of the VIP level trust such brands and make big deposits without fear.

It is safe to say that the cost of such a permit is paid off in the first months of operation, and then, there is a prospect of receiving an unlimited amount of income.

The cost of the licence is $18,000 for a first-time application and $10,000 for the renewal of the permit for 1 year. It is important to know that the tax year in this jurisdiction ends on March 31 when all issued documents are cancelled. Therefore, we recommend operators launch gambling projects in spring or summer.

Local gaming certificates are issued for certain types of activities:

• offline gambling halls;
• small establishments with slot machines or other equipment in the rented territories;
• casinos and betting shops that operate only on the Internet.

It is important to assess your prospects in advance. If you want to open both an online casino and a betting platform, it will be necessary to obtain 2 separate licences, which is a completely different level of expenditure.

Alternatively, you can consider obtaining a permit in another jurisdiction that issues the same certificate for all types of activities.

Specialists of the Smart Money company, which advises entrepreneurs on issues related to the casino business in different states, will help you perform this task. Make sure to have a trusted advisor, and your entry into the market will be successful.

What You Need to Know about the Acquisition of a Licence in Belize

The core nuances an operator should consider:

1. It is necessary to file an application from an international firm that owns a web casino. It must be registered in the country and have an authorised capital of at least $50,000.
2. The enterprise must maintain a reserve deposit account with the Central Bank of Belize.
3. Timing: consideration of the application, if all the requirements of the regulator are met, takes a maximum of 3 days (for comparison, it takes the UK Gambling Commission 6–8 months to do it).
4. The package of documents must include certificates of good conduct, fingerprints, and personal data of all shareholders. Be prepared to provide any other information upon the first request.
5. To extend the licence for the next year, 60 days before the expiration date (March 31), it is necessary to file the appropriate application and pay a fixed fee.
6. The country does not collect taxes on the profit of casinos. However, there is an annual fee here, which depends on the company’s turnover. Thus, if you receive up to $15 million a year, then you will need to pay 0.07%. With an income of over $50 million a year, the tax rate is reduced to 0.05%.

The country is famous for maintaining customer service at a high level. That is why the regulator obliges licensees to pay all winnings to players as soon as possible and in full. For complete control, all processes related to communicating with clients are carried out within the jurisdiction.

In practice, it means that you will need to organise the work of a transit server that records all operations taking place in a casino and, if necessary, pass this data to the regulator. Moreover, all the transactions must be made through a local bank.

Together with a package of documents for the acquisition of a licence, do not forget to provide a business plan, in which you:

• tell the authorities about the goals of your company, ways to achieve them, and the scope of the project;
• talk about the advantages of your enterprise, explaining why the regulator should give you a permit;
• describe your marketing strategy;
• provide detailed arguments for hiring staff (their number and qualifications);
• reveal the company's development plan for the next 5 years.

The Main Things about Obtaining a Gambling Licence in Belize

There is a huge amount of work needed to get the permit, especially from the first attempt. So, it is better to do every step together with specialists who already have corresponding experience.

For this, you can contact Smart Money. Our lawyers, software specialists, and consultants on the preparation of documents will help you get the desired result without risks.

Belize is a good place for the acquisition of a licence, yet this is not the most accessible region for novice entrepreneurs. You may need to consider other options as well, for example:

• Alderney;
• the Isle of Man;
• Kahnawake;
• Costa Rica, etc.

Gain the support of an experienced partner, and it will be easy to make the right decision that will allow your business to grow quickly and generate a stable income.

Order service