Which organisations are subject to permitting in Curacao?

Since the Сuracao gambling license is among the most prestigious, most investors seek to be permitted in this jurisdiction. A short licensing period on favourable financial terms and subsequent low taxation make this area the most attractive area for the gambling business.

Companies that meet the demands

If you plan to open a business legally, then you need to obtain a special permit. The process involves collecting the necessary papers and meeting several regulatory requirements. But before licensing begins, you must register the gaming business in the state register.

You must prepare a list of games with detailed descriptions you plan to provide on your platform. People must create your domain and provide a “Terms of Use” section on the website. To operate the gaming platform, you must use physical servers, but at least one must be here. It is also essential to implement an AML program and strictly follow it. The company’s activities must include audits and software maintenance. In addition, you will need to obtain a random number generator certificate. This document will confirm the fairness of the game results.

What kind of permit can a company receive here?

This area provides two types of gambling permits. The Ministry of Justice issues the Master based on its powers. This permit is valid for 5 years. It allows its owner to provide a wide range of services in the business, including issuing Sublicenses, thereby having passive income. Obtaining a basic permit takes a lot of work. Over the past few decades, only 4 firms have received such a permit. Therefore, the best option would be to get a Sublicense.

The holders of the previous permit issue a sub-license. Its validity period will correspond to the period of the Master based on which it was obtained. The choice of Master permit holder will depend on the licensing requirements and financial costs. The presence of a Sublicense makes it possible to provide gambling on your platform but under the permit of the base document. That is, access to the infrastructure and technical support of the primary licensee is provided. This feature simplifies the start and regulation of the gaming platform.

In general, the provision of services by the owner of a Master and a sublicense is practically the same. The only difference is that only the owner of the Master License has the right to issue sublicenses, which is an attractive option for investors planning to launch a gaming business with access to the international gaming industry market. Receiving a Sublicense is much easier and faster with lower financial costs.

Benefits of this area

By obtaining a document, a firm will have the following advantages :

• fast and inexpensive registration (1.5 months, fee – 4500 USD);

• simple and straightforward rules;

• one universal permit with a wide range of services;

• easy opening of a business for startups thanks to flexible demands;

• attractive taxation for this kind of business – 0% VAT and 2% corporate tax.

All these positive factors will favourably influence the start of a gambling business, allowing you more profit due to preferential taxation.

Reasons for revoking a gaming permit

Even though you were able to pass licensing, you should not relax. There are good reasons why a permit may be revoked:

• providing services to players from the USA, Holland and France;

• allowing minors to play;

• if your website does not have a “Terms of Use” section,

• assistance in money laundering or terrorist financing;

• carrying out activities not by the established rules of the owner of the basic permit.

In addition, your license may be revoked if you are found to have violated applicable laws in Curacao. Therefore, you should not break the established rules if you value the permission to provide gambling.

Conclusion

Obtaining a gaming permit is relatively easy and quick if you fulfil all the requirements of the owner of the basic permit. Having a prestigious permit will allow you to attract a large user audience to your gaming platform, which values the reliability, safety and fairness of the outcome of the gaming process. Keep it local legislation and requirements of the Master holder, and your business will be able to develop in the gambling market effectively.