Master License Holders – can operate as e-gaming companies and in addition they can offer third parties sub-licenses, according to the conditions and responsibilities of a Master License.
To secure a Master License the Curacao Minister of Justice must approve your application based on documents provided by the Netherlands Antilles. Obtaining a Curacao Master License can be difficult. This is partly due to the stringent laws against money laundering in the Netherland Antilles.
Holders of a Sub-License – can operate as e-gaming businesses but cannot offer third parties sub-licenses.
The Requirements for a Sub-License include:
- Full transparency of (UBOs) Ultimate Beneficial Owner; compliance with KYC policies and Due Diligence; full description of games to be featured on your website and satisfactory reference on UBOs.
- E-gaming businesses can secure a sub-license to operate an Internet gambling business for the Netherland Antilles.
- During the first 2 years you are required to pay licensing fees each month. Following that a revised license fee can be obtained.
From when Curacao began offering e-gaming licenses in 1996 and in following decades the nation has been one of the world’s most respected and sought-after e-gaming jurisdictions. Businesses are attracted to Curacao because of the low income tax on businesses of %2 and the fact that there is no VAT; no betting tax; a progressive legal system; political and social stability; excellent telecommunications infrastructure and well established, stable financial services. All of these factors together attract international e-gaming companies to Curacao.
If an e-gaming business has the correct licensing they can operate legitimate gaming activities in Curacao. Elite Formations can help you through all the required steps necessary to secure Curacao licensing and regulation; incorporation of a Curacao company; payment solutions; setting-up bank accounts etc.
Curacao e-Gaming Licenses
Companies running any e-game operations within Curacao jurisdiction, including software companies offering online casino management platforms must hold a Master License for gaming.
Benefits of a Curacao Gaming License
- As a licensing jurisdiction Curacao is reputed worldwide for its political stability.
- Tax rates in Curacao are extremely favorable in comparison with other licensing jurisdictions
- The Curacao regulatory body is recognized for its fairness when handling disputes.
- In Curacao you need only one license to operate in betting, casinos, poker, lottery and other game-related activities and not individual licenses for each type of gaming.
- Compared to other licensing jurisdictions Curacao is relatively inexpensive.
- Curacao regulation is less hindering of companies, giving businesses more freedom.
- The infrastructure in Curacao covers a wide range of services available to e-gaming businesses and service providers including private cloud service; high capacity private racks and custom dedicated servers etc.
Incorporating your businesses in Curacao is recommended as then you can make an application to operate in the e-zone. However forming a company in Curacao is not an obligatory requirement for gaming operators. With a Curacao company and an e-Zone license you will have:
- No sales tax, importation duties or VAT
- No divided withdrawals restrictions
- 0% tax on gross bets
- E-Zone businesses that maintain annual compliance pay 2% corporate tax
Get in touch for a quote on a Curacao gaming sub-license
Curacao Online Gaming Authority
The Curacao government offers one license to gaming operators, e-game industry service providers and e-gaming software professionals granting them permission to do business relating to gaming.
The Curacao Gaming Commission regulates all gaming in Curacao; the commission is connected to the Netherlands Antilles government. This is one of the leading and most respected jurisdictions in the e-gaming industry.
Within the Curacao Gaming Commission is a body called the CIGA (Curacao Internet Gaming Association) which is in charge of all matter concerning e-gaming licenses. CIGA oversees approximately thirty online gaming operators and is a member of the Interactive Gaming Council acting in accordance with its regulations and guidelines.
The Curacao e-Gaming Licensing Authority insures that gaming businesses and service providers operate according to the Government of Netherland Antilles guidelines and maintain their high standard of customer service.
Curacao e-Gaming Licensing Authority Customer Standards
- An audit trail must be maintained for all players who make a payment with the gaming operator.
- Online gaming is strictly prohibited to player’s resident in the Netherland Antilles and to those under 18yrs age. Operators must refuse wagers made by Netherland Antilles residents or people under 18yrs old.
- All gaming systems must be available for auditors; this includes back-end software logs.
- The minimum capital requirement must be adhered to so that gaming operators have funds to pay players winnings at all times.
- Unethical marketing techniques and practices are prohibited.
A Curacao gambling license can only be obtained if a company has been incorporated in the Netherland Antilles. The gaming operator must be registered in Curacao and there must be a local managing director. It is acceptable to use a management service company as your company managing director.
*Curacao maintains stringent law against money laundering in the Netherland Antilles.
Gaming Licenses in the Netherlands Antilles
A company is required to meet certain requirements and follow certain guidelines in order to secure a license in Curacao. Prior to being issued a license the Internet gaming business has to register as an official legal (offshore or onshore) entity in the Netherland Antilles Chamber of Commerce. When the company is registered they must submit the applicable paperwork of the shareholders before a Curacao company can be incorporated. The documents include a detailed application form for the Curacao Department of Justice which will then administer an investigation in to the company and a request for registration with the Curacao Chamber of Commerce as an official incorporated company (offshore or onshore). The application names the island from which you want to run your operation. Once the company investigation is complete and all documents approved the company will be issued with a provisional license in accordance with certain conditions. One of these conditions is that the company must make a deposit guarantee of 60,000 (ANG). It usually takes about two to four weeks for license to be finalized once the submission of application documents has been made.
Cost of a Curacao e-Gaming License
How long is the application process for a Curacao e-gaming license?
Thanks to the excellent service of Elite Formations the application process for a Curacao eGaming sub-license can take as little as two to four weeks.
How do I apply for a license and which type should I apply for?
Through us the process is hassle-free and expedient. There is no need to “choose” which license to apply for as Curacao offers a one-size-fits-all license to online gaming operators so that with one sub-license you can operate casinos, lotto, sports betting and more.
Cost of a Curacao Internet Gaming License:
- Elite Formations offers reasonable fees and efficient professional service. The fees can be broken down into categories:
- Incorporation of a Holding Company in order to get a sub-license – the company can be from various different jurisdictions, offshore and onshore. The process of incorporation includes: company documents, corporate formation, courier, government payments, apostilled set of corporate documents etc. Cost averages US$1,600-US$3,000.
- Following the 1st year the company must be annually renewed, this entails payment of maintenance fees each year like resident agent fees, government costs, registered office etc.
- Curacao Sub-license – The price for this service includes procedures, a set-up fee, annual sub-license fee, annual due diligence fee and database backup hosting is approximately US$20,000.
- Other Optional Additions Services – companies can opt for additional services like a nominee Director/shareholder. Both of these cost about US$3,000.
- Banking and Payments – Elite Formations can help you find payment solutions so that you can receive funds from players. Having a payment system is one of the basic needs of a Curacao online gaming business.
- Corporate Accounts – We can assist with creating a Moneynet corporate account for receiving wire transfers from players. We also offer a service for opening corporate bank accounts in Asia and Europe. The cost for this unique service varies from about US$1,000-US$5,000.
From the client’s point of view online gaming companies are just fun and entertainment but backing up the website there are a lot of aspects to handle to keep the business operational. For an online gaming business to operate legally they must have a gaming license from a recognized licensing authority.
A number of regions across the globe have laws in place for issuing gaming licenses and regulating online gaming companies operating within their jurisdiction. The online gaming industry is open to a global audience but there is no single legislation which is applicable across the globe. Instead each jurisdiction has its own laws relating to online gaming companies and the legislation varies from jurisdiction to jurisdiction. For this reason you must consider carefully before deciding where to register your company and obtain your gaming license.
Get in touch with us for a Curacao e-gaming sub-license quote
Curacao Online Gaming
Curacao is an island in the Caribbean which used to be part of the Netherland Antilles; although the island’s status has changed it is still legally included in Dutch territory. Holland being part of the EU this offers a unique opportunity to have the advantages of the EU without physically being on the European continent and therefore not having to pay the exorbitant EU taxes. This is one of the reasons that Curacao is such a sought-after jurisdiction for online gaming licensing.
Curacao legislation regards online e-gaming and land-based operating gaming as two separate things with different regulatory bodies. The e-gaming regulators (Curacao e-Gaming) issue Internet gaming licenses to businesses from throughout the world who wish to operate from Curacao. Curacao e-gaming licenses are one of the easiest to secure when compared to other jurisdictions.
What e-gaming license is offered in Curacao?
One e-gaming license is offered which allows holders of the license to operate all forms of online gaming. This license also covers e-gaming service providers and software.
What e-gaming does the Curacao license cover?
Casinos, games of change, lotteries, betting, sports betting – in short it applies to all forms of online gaming.
Is it easy to get a Curacao e-gaming license?
Yes! The Curacao requirements are easily met by applicants and the process for applying is simple, taking only a couple of days. In addition taxation in Curacao is transparent.
How can I secure a Curacao e-gaming license?
There is a pre-approval procedure with a corporate service provider where the company must submit basic information and information about the online gaming you intend to run. Then you must submit relevant documents, an application and a license fee to Curacao e-Gaming Authority. After evaluation the license is approved and your company can start business within sixty days. From beginning to end the process should take two to four weeks. You will benefit even more if you incorporate your company in Curacao. To do this there are minimum requirements and incredible tax benefits. A Curacao e-gaming license allows you to operate across the globe with very few restrictions and marginal costs.
Requirements when applying for a Curacao e-Gaming License
Online casinos offering games of skill, sports betting and games of chance must have a license from the jurisdiction where their target clients live. Curacao is one of the most popular jurisdictions with the best reputation. The license issued by the Curacao Licensing Authority covers all software providers and product operators of the online e-gaming sector. The guidelines and process for securing a Curacao gaming license can be complicated; for example:
The gaming operator’s primary servicers must be in Curacao. At the least the computer hardware is required to hold information about the gaming website’s financial transactions, player detail and game logic. The online gaming company must be registered with the Netherland Antilles Chamber of Commerce and undergo a 6 week investigation conducted by the Department of Justice which includes a company background check, review of business practices and game software testing for randomness. Only on completion of the investigation can a Curacao provisional license be issued and the company is required to make an ANG 60,000 deposit. Holders of a provisional license are required to abide by the regulatory rules and guidelines including a period of audit in which financial transactions ( wagers and payouts) are reviewed to check for accuracy and fairness.
Holders of a Curacao Online Gaming License must show an official license seal on their products. This shows clients that the operator is abiding by the laws of the Curacao jurisdiction and that the minimum operations are made from within the e-Zone of Curacao.
Curacao Licensed Websites Requirements
One Curacao license covers games of skill, sporting bets, games of chance, operators and software providers. The procedure for securing a license of this kind can be complex and applicants must meet strict standards.
- Primary servers must be operated from Curacao. At the very least the computer hardware must be located physically in Curacao including the player information, game logic and financial transactions.
- Following the obligatory investigation period, and having passed successfully the applicant is given a provisional license and must deposit a guarantee sum of ANG 60,000.
- Once the operator holds a provisional license they are obliged to adhere to regulations which include an audit period where wagers and pay-outs are examined for fairness and accuracy.
- Operators applying for a Curacao e-gaming license must register with the Netherlands Antilles Chamber of Commerce. An application for a license is submitted followed by an investigation period of six weeks. The investigation is carried out by the Department of Justice and examines the potential license holder’s company history, business practices and conducts randomness testing of the software.
When the operator has obtained his license approved by the Netherlands Antilles he must show an official seal on all licensed products under the Curacao Authority and meet all regulation requirements of the Curacao jurisdiction. There is a minimum amount of operations required from computer hardware in the Curacao e-Zone.
Applying for a Curacao Online Gaming License
A Curacao e-gaming license is required if you want to operate a gaming website business. By using services of a professional licensing agent you can make the application process easier and shorter. You will be guided through the entire application procedure by the agent who has extensive knowledge of the Curacao licensing system.
No online gaming license covers the entire world instead you must apply for a license in a specific jurisdiction. First you must choose the jurisdiction which best suites you. Each jurisdiction has its own rules and regulations. The next step is to submit an application for an e-gaming license in the jurisdiction of your choice where you have decided to establish your business. Take into consideration the reputation of the jurisdiction; the duration and complexity of the application process; the licensing requirements; the taxes in that jurisdiction and the cost of an e-gaming license. Each jurisdiction has an official regulatory authority which oversees all matters concerning e-gaming including issuing license. With the help of a licensing agent you must apply for a license to the regulatory body in the jurisdiction you have selected.
The requirements when applying for an e-gaming license vary but usually include legal disclosure of your finances; banking history; criminal record etc. as well as due diligence; presenting a business plan; showing evidence of sufficient capital funds and showing how your company will combat underage gambling, money-laundering and illegal e-gambling. The costs include an application fee and the price of the actual license which must be renewed annually. Costs vary depending on the jurisdiction.