Gambling License Price

Why do many owners of gambling businesses give preference to Curacao jurisdiction? Besides global recognition and low pricing factor, the answer lies in its simplicity: a simplified registration procedure with a minimum set of documents and a low barrier to entry.

How much does a gambling license Curacao cost?

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Gambling License Renewal

The cost of gambling license depends on many factors and can vary depending on the availability of the client’s personal resources.

In total, Curacao license will initially cost under 20,000 euros. Compared to other jurisdictions, the price is really affordable. Curacao gambling license allows to open an account at the European bank branch and seamlessly connect every reliable payment system to the online casino.

Another thing you should take into consideration when calculating the egambling license price is a taxation system each particular country. Some jurisdictions may seem more profitable as they offer lower online gambling license cost but at the same time, the taxes you’re obligated to pay yearly will be higher. Due to the flexible tax laws, Curacao is a perfect choice – income tax here is up to 2%.

This price of Curacao license includes:

• the registration of the local offshore company in order to use the preferential terms;
• issuing of a gambling license;
• rated local hosting and server space;
• management of the local company during the first year;
• the Committee services, filing, and registration of all the necessary documentation that will take on average 2-3 weeks from the moment of submission.

There are a lot of factors that determine the final cost of a gambling license, all of which depend on the services your establishment requires. The following table includes the expected fees and cost of the Curacao license if you opt for the basic package.

First things first, in order to start your business and apply for a license, you must have a trust company in Curacao — only local companies can apply for gambling licenses. In order for the said trust company to comply with the country’s laws, it will require a local physical address and a local managing director, and the price for both is also included in the total cost of obtaining a Curacao license. The price also covers everything from maintenance to various government fees, as well as opening a bank account.

An excellent thing about having a trust company in Curacao is that you can register a Curacao Export Zone company. By having an Export Zone company, your business will be required to pay significantly lower corporate income taxes — up to 2%. In addition, there is a sales tax of 6%.

Next, the applicant will be expected to pay for the gaming license itself and IP compliance services. These include one-time fees and deposits, such as various administrative fees while your license is being reviewed. Apart from that, the applicant is also expected to deposit the application fee and the fee for obtaining and maintaining the license — you are obliged to pay annual license fees. Keep in mind that the price can fluctuate and will depend on the size of your business, its complexity, as well as your personal resources.

Lastly, since you will most likely be running your business remotely, in order to meet permanent establishment requirements, you will be expected to host the servers locally. As we’ve stated in the table, the price includes the minimum gaming hosting services and will, naturally, increase as does your demand for more server space.

These are only some of the most significant services you will be required to pay for in order to obtain the license. Again, not every price is set in stone and it may change depending on various factors, but this should give you a general idea of what to expect if you are planning on obtaining a Curacao gaming license.

How to issue a Curacao license?

Entrepreneurs or anyone with an entrepreneurial mindset who delves into the world of online gambling, do not fully understand all the niche-specific nuances of how to conduct a gambling business legally and do not know how to deal with issues that may arise afterwards. GamingLicensing can offer its professional help and answer every question regarding the process of issuing a Curacao license. You can consult the experts anytime you’re willing to clarify any aspect you have problems with. GamingLicensing team will help will help you not only find out how much is a gambling license but will also take care of the whole license issuing process.

GamingLicensing experts are familiar with all the laws of Curacao, so there is no doubt that the application for a gaming license will be issued in agreement with all the international requirements and lawful regulations.

GamingLicensing provides a turnkey registration of the Curacao license. GamingLicensing service has no hidden costs or fees – only fixed price according to the contract.

In order for us to serve you better, following documents should be provided upon our request:

• identity card;
• bank reference;
• English translation of all the documentation;
• information on the company’s revenues;
• the company’s business plan.

Should you obtain a gaming license?

No question about it! The license is the only thing that helps an online gambling business operate within a legal framework, but it also guarantees a responsible approach while working with international client base.

There are four types of gambling market regulations, and they vary depending on the country that:

• regulates gambling on their territory;
• regulates and implements the monopoly;
• prohibits any form of gambling on their territory;
• does not have a gambling industry.

If gambling business conduct is not specified by the legislation of the country, you can use the international licensing services offered by such jurisdictions as the Isle of Man and Gibraltar, Malta, Curacao, Alderney and others. And if you have a hard time choosing one (or several) of those as all of them have different gaming license cost, tax rates, advantages and special aspects, GamingLicensing is always ready to help you make a perfect choice.

How to get a gambling license?

Getting a gambling license can be tricky. Gambling business is a specific niche area that is even banned in some countries. Therefore, in order not to violate the local law and be able to conduct a legal business where it is possible, it is recommended to get the permission from relevant jurisdictions that are more loyal to the online casinos. One of the most profitable and reliable options available today is Curacao jurisdiction, where you can get a gambling license in no time, which is (considering affordable Curacao gaming license cost) is a great way to start a successful business even for the first-time entrepreneurs.

This jurisdiction has been operating since 1996 and is recognised today as one of the most reliable and stable. Besides, one license applies to all types of gambling business activities.

To get a gambling license, you must be registered in the Chamber of Commerce of the Antilles, to be able to create an offshore company. Then, you will have to collect and prepare a minimum package of supporting documents to back up your application.

How Much Does Gambling License Cost

Even though obtaining the Curacao license is a relatively quick process and a gambling license cost is affordable, performing a license registration on one’s own may cause a cascade of problems, with no guarantee of a resolution at all.

In order to save your time and money during the registration and approval processes, let GamingLicensing help you out every step of the way. Our experts can offer their assistance in obtaining the gambling license that will suit your needs.

FAQ

1. Which gambling license is both internationally recognised and most cost-effective?

   One of the best options in today’s market is the Curacao e-gaming license. It is an internationally recognised license issued in record times that has one of the lowest fees.

2. What do I need to get the Curacao e-Gaming license?

   To receive the Curacao e-gaming license, you need to complete several steps. First, you need to register a company in Curacao as only local companies can apply for the permit. You can register your company in the so-called Curacao Export Zone, which means you’ll have to pay up to 2% of all income tax. In addition, there is a sales tax of 6%.

   Next, you need to pay the licensing fees and IP compliance services that oblige you to host the gaming servers from Curacao. Also, you are expected to cover expenses for the annual renewal and maintenance of the license.

3. How much does the Curacao e-Gaming license cost and what does it include?

   The overall cost of the license depends on multiple factors, but the initial cost of the license does not exceed €20,000. The license cost includes the expenses regarding the registration of your company, issuing of the gambling license, local hosting and servers, as well as filing and registration of all paperwork and documentation.

Latvia is among the countries with favorable environment for gambling business due to advantageous tax system. In order to start gambling business in Latvia a state license is required.

In 2017 the country accounts for 6 land-based casinos, 320 slot halls, 57 totes and 7 licensed online casinos. Most of the facilities are located in Riga. In the last few years, the profit of Latvian gambling has been steadily growing (according to the official statistics, the income of virtual casinos alone increased by €13 million from 2014 to 2016). However, this growth cannot be called hasty. The reason is the fact that licensing of gambling in Latvia has its pitfalls.

From the nineties down to our days

When Latvia was part of the USSR, gambling in it was banned, except for the state lottery, as well as within the rest of the Union. The first casinos appeared when the Baltic country became independent, that is, after 1990. Since the beginning, gambling activities in Latvia have been licensed, but until 1994 there was no established procedure (licenses were issued by several agencies and were not included into a single register).

In 1994, laws On Lotteries and Gambling and On Duty and Tax on Lotteries and Gambling were adopted, which specified the algorithm for tax payment and the procedure for issuing licenses.

In 1995, 2005 and 2014, the legislation was amended: the requirements for casinos were tightened, the share of foreign companies was limited, and unlicensed online operators were banned.

Today, it is not difficult to get a license for gambling business in Latvia, but there are some nuances that restrain the market development.

How Much Does It Cost To Get A Gambling License

Procedure for license issuing and its duration

Bookmakers, casinos and gambling halls in Latvia are licensed according to the same scheme. It includes two stages:

► submitting an application to the Lotteries and Gambling Supervision Inspection of Latvia;
► paying a fee of €427 000.

In addition to the fee, you may need to pay additional permits.

The license price is low compared to other options, but its duration is shorter than in many other countries: just a year. After the expiration of this period, the entire procedure must be repeated.

Restrictions on license obtaining

When application is considered, regulatory authorities pay attention to a citizenship of business founders. According to the law, at least 50% of the company's management must be Latvian citizens.

In addition, when licensing online casinos and slots, state agencies conduct an inspection of equipment. This can entail additional expenses and requires more time.

Another legislative innovation introduced in 2017 is a ban on locating casinos in the historic center of Riga, except for four- and five-star hotels. Some operators noted that such initiative had a negative impact on their revenues.

Gambling License Requirements

The government of Latvia sees gambling in a positive light, however, limitations and legislative nuances require careful working out of each step when entering the market. Riga Gaming Congress, which will be held in the Latvian capital on October 12, will discuss all challenging aspects of legislation and ways to improve the profitability of gambling business.