Kahnawake is a self-governing First Nations reserve in Quebec, Canada. It was established by French Canadians in 1719 and is home to the Mohawks of Kahnawake, which today total just over 8000 people across a territory of 48 square kilometres. Inhabitants speak English, French, and Mohawk, but it is also home to other indigenous peoples, including Oneida, Cayuga, Seneca and Onondaga, and Europeans.
Kahnawake largely manages its own affairs and has established a range of self-sufficiency and self-governance measures for the community. This includes the creation of a framework for online gambling and gaming which brings significant revenue and economic stability to the territory.
When did iGaming start in Kahnawake?
Online gambling frameworks were first created in 1996, but in 1999, the Kahnawake Gaming Commission was created, which allowed the issuance of the very first licenses. It was one of the first jurisdictions in the world to recognise the opportunities offered the by industry in a bid for more economic stability and autonomy. Today, there are more than 250 gambling licenses issued, and it is known as one of the most reputable and trustworthy licenses in the world.
What is the Kahnawake Gaming Commission
The Kahnawake Gaming Commission is the regulatory body that oversees and supervises the gambling industry at a local level. It is also responsible for receiving all licensing applications and issuing subsequent licenses. It issues Client Provider Authorisations for iGaming operators and Key Person Licenses for those within the entity that hold certain key and required roles. There is a fee for each kind of license, but should the license not be granted, the application fee is refunded to the applicant.
Is the Kahnawake license good?
The Kahnawake gambling license is recognised as one of the most reputable in the world. While the requirements for getting the license are not as strict as in some other jurisdictions, regulators take a hard line on maintaining certain standards. Holding a license from this jurisdiction means the holder implements responsible gambling and fair gambling practices. It also reassures players that they are actual operators and not fraudulent. The Commission takes any complaints from players very seriously, and violations can result in license suspension or even revocation. Some entities have had their licenses revoked following investigations into unethical business practices. This dedication to compliance and regulatory fairness means a high level of protection for players and operators.
Other benefits of a Kahnawake license include:
Zero tax: Any entity holding a Kahnawake gambling license can benefit from zero gaming tax on gross gaming revenue.
Low application fees: Fees for the Kahnawake license are some of the lowest around, making them affordable for startups and more established businesses.
Simple: The application process is relatively straightforward, particularly if you partner with Fast Offshore. Applying for an online gambling license in any jurisdiction requires a significant amount of paperwork, documents, and processes. While this does still apply to Kahnawake, there is less than other jurisdictions.
Quick: The application process takes two to three weeks, with approval taking up to ten weeks. This makes it one of the fastest jurisdictions for acquiring an online gambling license.
How much does it cost?
The cost of a Kahnawake betting license is one of the biggest considerations an operator will take. We understand that every company has different requirements, goals, and amounts of capital to invest in their platform. As such, Fast Offshore are flexible and can provide tailor-made packages that suit the company’s individual needs and requirements.
As well as offering to take you through the whole license application and acquisition process, we also assist in setting up an optimal financial structure. Fast Offshore can take care of the following:
- Business planning and strategy
- Compliance
- Company incorporation
- Tax planning
- Merchant and payment provider agreements
- Accounting and so much more.
We provide off-the-shelf packages and custom packages to suit your needs and budget. Before an application is processed, $40,000 must be paid to the Commission covering one year of licensing, application fees, and a Key Person License. But to get a more exact figure, including all other required matters, just contact Fast Offshore here.