The Curacao gaming licence is typically the first choice for new operators due to its reasonable requirements and affordable price range. While that may be true, the bureaucratic process to obtain one can seem drawn-out and tiresome. That’s why this article will guide you through the lengthy process one step at a time.
About Curacao Licence
Geographically speaking, Curacao may be an island in the Caribbean, but it is, in fact, a constituent country in the kingdom of the Netherlands. Curacao’s inviting climate has already proven lucrative for numerous businesses, but most of the country’s economy thrives thanks to e-commerce.
The year 1993 was a turning point for this dreamy island because this was when online gambling became legal. Shortly after, authorities began to issue licences, and Curacao became an ideal offshore business hub for licensing online gambling platforms. Today, its track record precedes any other jurisdiction’s in the iGaming industry.
Curacao grants two licence types — the master licence and sub-licence. Both permit the holder to conduct all types of gambling activities, but the master-licence holder can also issue sub-licences.
So, now that you know how powerful a Curacao gaming license is, let’s see how to get a hold of one in 2022.
Why Get a Gaming Licence?
iGaming businesses are continually growing, so trying your hand at this industry is extremely profitable at the moment. However, making it big in this world is not feasible without a gaming licence. Take a look at a few benefits of obtaining a Curacao licence:
- Security — Operators get peace of mind conducting their business without legal repercussions.
- Credibility — Online platforms gain a lot of credibility with players after going through a lengthy process to obtain a licence.
- Reputation — Having a gaming licence helps fight the stigma of online gambling, as it creates a transparent industry in the aftermath.
- Finance — Working with licensed businesses will paint financial institutions in a better light.
Since numerous jurisdictions grant gaming licences, you might be wondering why you should apply for a Curacao one. Here are some of the reasons:
- All types of gambling are covered by a single sub-licence.
- The time it takes for your application to be approved is fast (approximately six weeks).
- It’s more affordable compared to other jurisdictions.
- The taxes are quite low (0% corporate income tax, 2% tax on net gains).
- Procedures are less complicated compared to other jurisdictions.
- Crypto payments are accepted from compliant operators.
How to Get a Gaming Licence in Curacao?
Although getting a licence in Curacao is much easier than in other jurisdictions, it doesn’t mean there are no conditions you need to meet to get one. Here are a few detailed requirements that you’ll need to comply with if you want to obtain a Curacao licence:
- Consolidate a business in Curacao.
- Collect the necessary paperwork.
- Apply and pay the fee for the application.
- Wait approximately six weeks.
- Start operating an online gambling platform.
Note that the domain name, server, and platform don’t need to be finalized at the time of application. However, they do need to be ready before the licence is issued.
What Do You Need to Apply?
To apply for a gambling licence in Curacao, you will need to submit a plethora of documentation. How long this list will be depends on the master licence holder, but it can include the following:
- Original utility bill, no older than three months
- Resume
- Passport copy
- Original certificate of good conduct
- Professional reference letter
- Original bank reference letter
- Second ID
The applicants need to carefully go through all the documentation before submitting it because even a small oversight can lead to rejection. In any case, you can rely on gbo-licensing.com to assist you with the process.
How Much Does a Licence Cost?
Aside from Curacao’s rich history that you can read more about here, one of its main advantages is the low cost of getting a licence. Naturally, licence fees vary due to many factors, especially the master licence holder. Still, the cost is much lower compared to other jurisdictions.
Future licence holders will have to pay the initial application fee, costs associated with incorporating a local company in Curacao, legal office fees, local representative’s first-year fees, administration fees, and costs regarding local ISP services.
Furthermore, low taxes are usually the tipping point for many online casinos when it comes to the Curacao gaming licence. The operator’s total financial obligations regarding taxes amount to 2% in Curacao. This is much lower than any other operator’s tax scheme.
Naturally, the final licence cost will depend on many factors. It’s up to the operator to get a hold of experts who will help them find the right pricing scheme that works.
