The online gambling industry is experiencing a heyday. For business owners, this means big profits and, of course, competition. Therefore, only the best of the best become truly successful companies that can guarantee their customers not only the quality of the game but also the safety and protection of their personal information. All this is indicated by the license, which is a guarantee of the company’s reliability.
How to obtain a license?
The Curacao gambling license requires that the company meets the following characteristics:
- The firm must be registered on the island.
- An original name, financial and marketing plans.
- Mandatory provision of information about owners and managers.
- A local legal address and office.
- Information about the full list of games, registered domain, and the clearest rules of using the platform for the game.
- At least one server with stored data on transactions.
- Users must be located in Curacao.
- Annual audit of the system.
- A good reputation of the company’s managers, confirmed by certificates of non-criminal liability.
- One of the company’s directors must be a resident of the country.
- Implementation of AML procedures for each player.
- Software must comply with RNG certification.
These are not many requirements, but they still demand some time and effort. However, if you delegate these tasks to Fintech Harbor lawyers, the work will be done quickly and efficiently, and you can focus on improving the efficiency of your business.
Advantages of a license from Curacao
This jurisdiction attracts companies that specialize in online gaming with many quite impressive advantages.
- The Curacao gaming license is universal. It is not divided into classes, which does not limit the company in its field of activity.
- The island is a part of the Netherlands, which contributes to the credibility of the license in European countries and, therefore, access to markets around the world.
- The procedure for obtaining a license is quite simple, due to the fast processing of the application and moderate requirements of the regulator to the company’s financial transactions.
- Curacao has a low-income tax.
- The company’s affairs can be handled by a representative, whose name will be published in the state register. This allows the owner to remain anonymous.
- License prices are lower compared to other jurisdictions.
The Curacao gambling license has significant advantages compared to similar permits from other jurisdictions. It is especially beneficial for start-ups. Fintech Harbor specialists will help you to settle all legal matters as soon as possible, which allows company owners to focus on business rather than documents.
- As per the Public Gambling Act of 1867, all Indian states, except Goa, Daman and Sikkim, prohibit gambling
- Land-based casinos are legalized, with certain guidelines, in Goa and Daman, as per the Goa, Daman and Diu Public Gambling Act 1976
- Land-based casinos, Online gambling and E-gaming (games of chance) are legalized in Sikkim under the Sikkim Online Gaming (Regulation) Rules 2009
- Only some Indian states have legalized online/regular lotteries as per and subject to the conditions laid down by state laws. Kindly refer to the same here
- Horse racing and betting on horse racing, including online betting, is permitted only in a licensed premise in select states. Kindly refer to the 1996 Judgement by the Supreme Court Of India here and for more information
- This article does not endorse or express the views of Qrius and/or any of its staff.
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