Looking to set up or relocate your online casino or online gambling business? Not sure where to apply for an online gambling license? We rate the Jersey online gambling license as one of the best in the world, here is all you need to know about Jersey and its licensing regime.
Where is Jersey?
Not to be confused with the US State of New Jersey, Jersey is a British Crown Dependency situated off the coast of France. One of the Channel Islands, it is not a part of the United Kingdom and its economy depends largely on its thriving financial services industry. Known as one of the world’s leading offshore financial centres, Jersey does not impose VAT and has a corporate tax rate of 0%.
What about its online gambling laws?
In January 2015, Jersey issued its first online gambling license to provider Twelve40 and included provisions that it must manage any risks of problem gambling. Overseen by the Jersey Gambling Commission, providers can apply for licenses, permits, and approvals depending on their type of operation.
What kind of licenses are there?
Depending on what kind of services an operator wants to offer, there is an applicable license or permit. These include permissions for Operators, Hosting Providers, Platform Providers, Software Designers, and Testing Houses.
Remote gambling operators
If you want to run remote gambling services from Jersey, you need to apply for an Operator License. You also need to register with the Jersey Financial Services Commission as per the Proceeds of Crime Law 2008. All B2C casino type offerings and games must be licensed as per these requirements.
Requirements for a Jersey Remote Gambling License
In order to offer online casino services from Jersey, not only is it necessary to gain the applicable license but the operator must also incorporate a company within the island. In the case of companies that are established elsewhere and wish to relocate to Jersey, they must apply to the Commission for a license and upon notification of impending approval, they must then register a company in Jersey. It is also required that the server running the online gambling services must be based on the island.
Operators must also supply the outline of a proposed business model to the Commission, prior to application to ascertain which license they should apply for. They are also required to submit to independent equipment and software testing as and when the Commission requires, but not so much as to cause an unnecessary burden.
The application form must also be accompanied by all of the relevant documents including waivers, criminal record checks, KYC information and personal and corporate applications. The Commission also required details of all shareholders of the applicant company with holdings above 5%, Police Vetting Unit declarations for all directors, shareholders and individuals such as designated officials and operations managers. If the company is a subsidiary, personal declarations are required for the principals of the parent company as well as full details of the corporate family tree.
Jersey’s online gambling license is highly reputable and as. such there is quite a lot of paperwork and form-filling to be completed before the application can be filed. Therefore, we would recommend engaging the services of Fast Offshore who have over two decades of experience in filing online gambling license applications. We are also able to assist with company incorporation in Jersey and opening bank accounts.o find out more, contact us today.