The iGaming sector has been taken by storm by the announcement of a new license on the scene: that of Nevis. A jurisdiction known for its regulated and financial sector with a history spanning some 40 years, a foray into iGaming seemed a logical step. The new framework, designed to be a Tier-1, gold standard in the sector, has been crafted drawing on the frameworks of long-established other jurisdictions, and in full compliance with international standards and best practices. The emergence of this new license is big news for iGaming operators around the world, as well as those looking to take a step into the sector.
Curacao has been offering iGaming licenses since the 90s, but it has recently undergone a significant regulatory overhaul, tightening requirements, raising the cost, and changing the way the license functions. Following mounting criticism and concerns over the years regarding regulatory oversight, the authorities sought to tighten things up. The result has been a tougher application process, more costs, and more assurance for operators and players, but how does it stack up against its Caribbean neighbour?
Price: Comparing Costs and Tax Benefits
When comparing and evaluating iGaming jurisdictions, cost and tax implications are a crucial factor that operators consider when looking at balancing profitability and compliance. Nevis and Curacao offer distinct financial profiles, with Nevis leading the way as a competitive Tier-1 option and Curacao transitioning to a mid-range pricing model, though not classified as Tier-1. Nevis’s pricing structure, as outlined in the Nevis Online Gaming Bill 2025, includes initial costs for company registration, application management, license fees, and a mandatory Local Reporting Officer, with annual maintenance and renewal fees. These costs are notably competitive compared to other Tier-1 jurisdictions like Malta or the Isle of Man, which often impose higher fees and additional taxes. A standout feature of Nevis is its zero-tax regime, eliminating corporate and gaming taxes, which allows operators to maximise profits and reinvest in growth. This tax advantage is particularly appealing for startups and mid-sized operators seeking a cost-effective entry into a prestigious jurisdiction.
Curacao, historically known for affordability, has seen its pricing shift to a mid-range level following regulatory reforms under the National Ordinance for Games of Chance (LOK). Initial costs cover application and sub-license fees through master license holders, with ongoing compliance and renewal expenses adding to the total. Additionally, Curacao imposes a modest corporate tax rate (typically 2% on net gaming revenue), which, while lower than Malta’s 5–35% range, contrasts with Nevis’s tax-free environment. Curacao’s costs are attractive for smaller operators or those who want to prioritise flexibility over prestige, but the lack of Tier-1 status means it may not carry the same weight with international partners.
Nevis’s Tier-1 license, combined with its zero-tax advantage, positions it as a high-value option for operators who want both affordability and credibility. Curacao, while cost-effective for budget-conscious operators, faces challenges with higher ongoing costs.
Setup Time: Speed to Market
When it comes to launching your iGaming business, time is money. In other words, the quicker you get up and running, the sooner you can start being profitable. Some jurisdictions have very long application processing times, reaching a year, and even beyond in some cases. The application process for a Curacao iGaming license takes between two and six months, as long as all documents are in order. This is a mid-level time frame and much less than jurisdictions like the Isle of Man and Malta. As for the Nevis iGaming license, the process is much quicker. When you partner with Fast Offshore, we aim to get you through it in 8 to 10 weeks. This is by far the shortest time frame in the tier-1 market, and allows you to go live and start onboarding clients in the minimum amount of time. This streamlined approach is a huge benefit for operators, both startups and established brands alike.
Reputation: Credibility and Trust
In the iGaming industry, a jurisdiction’s reputation significantly influences operator credibility and player trust. Nevis, with its 2025 Online Gaming Bill, is rapidly establishing itself as a credible jurisdiction, leveraging over 40 years of financial services expertise in banking, insurance, and trusts. As a Financial Action Task Force (FATF)-compliant jurisdiction on the whitelist, Nevis ensures robust anti-money laundering (AML) and financial transparency standards. The Nevis Online Gaming Authority (NOGA) aims for Tier-1 status, drawing on a number of best practices from jurisdictions like Malta and the Isle of Man. However, as a new entrant, Nevis is still building its iGaming reputation, which may require time to match established hubs.
Curacao, a long-standing iGaming jurisdiction, has a mixed reputation. Its historical reliance on a master license and sub-license model has allowed flexibility, attracting numerous operators since the 1990s. However, past lax oversight led to concerns about regulatory rigor, impacting its credibility with some international partners. Recent reforms under the National Ordinance for Games of Chance (LOK) aim to address these issues by strengthening compliance, KYC, and responsible gaming standards. Despite these efforts, Curacao is not considered a Tier-1 jurisdiction, and its reputation lags behind Nevis’s emerging gold-standard aspirations. While Curacao’s familiarity in the market offers a degree of trust, its history of variable enforcement may deter operators seeking partnerships with stringent financial institutions.
Requirements: Application and Compliance Demands
Below is a bullet-point comparison of each jurisdiction’s demands, highlighting what is required from applicants.
Nevis
- Regulatory Oversight: Managed by the Nevis Online Gaming Authority (NOGA) under the 2025 Online Gaming Bill, aiming for Tier-1 status.
- Company Setup: Requires establishment of a Nevis Business Corporation (IBC) through a licensed registered agent.
- Documentation:
- Business plan and financial statements.
- Proof of source of funds and wealth.
- Proof of domain ownership.
- Compliant policies: KYC, AML, responsible gaming, and underage gaming.
- Certified passports, proof of address (within 90 days), bank and professional references, signed CVs for directors, shareholders, and UBOs.
- Technical requirements: RNG certificates, game provider agreements.
- Due Diligence: Rigorous fit and proper test for directors, shareholders, and UBOs, ensuring FATF compliance.
Curacao
- Regulatory Oversight: Governed by the Curacao Gaming Control Board (GCB) under the National Ordinance for Games of Chance (LOK), effective 2024, replacing the master license/sub-license model with direct licensing.
- Company Setup: Requires a locally registered company (e.g., NV or BV) to apply for a direct B2C or B2B license, aligning with stricter corporate governance.
- Documentation:
- Detailed business plan with three-year financial projections.
- Proof of source of funds and wealth for shareholders and UBOs.
- Domain ownership and website compliance documentation.
- Mandatory policies: enhanced KYC, AML/CTF, responsible gaming, underage gaming prevention, and data protection.
- Technical certifications: RNG testing, software integrity reports, and agreements with game/content providers.
- Certified identification documents, recent proof of address, and professional references for directors, shareholders, and UBOs.
- Due Diligence: Comprehensive fit and proper tests for key individuals, including criminal background checks and financial transparency, aligned with international AML standards.
Additional Factors for iGaming Operators
Banking access and crypto-friendliness are key for iGaming operators choosing between Nevis and Curacao in 2025.
- Banking Access: Nevis offers comprehensive banking support, leveraging its FATF whitelist status and 40-year financial expertise. Operators can easily benefit from partnerships with global banks and Visa/Mastercard accounts, which ensure efficient transactions and increased player trust. Curacao has some banking struggles due to past compliance issues, with limited international partnerships forcing reliance on alternative processors, increasing costs and complexity.
- Crypto-Friendliness: Nevis’s crypto-friendly policies, backed by strict AML compliance, support secure cryptocurrency transactions, appealing to tech-savvy players. Curacao’s growing crypto adoption lacks standardised regulation under the LOK framework, risking compliance issues in regulated markets.
Nevis’s superior banking and regulated crypto approach make it ideal for operators seeking reliability and innovation in 2025.
While Curacao offers affordability and market familiarity, Nevis emerges as a superior iGaming jurisdiction in 2025. With competitive price points, a swift 8–10 week setup time, and Tier-1 status backed by FATF compliance, it combines cost-efficiency with regulatory prestige. Its zero-tax regime, robust banking access, and crypto-friendly policies make it ideal for operators seeking a reliable, innovative jurisdiction. Fast Offshore provides comprehensive support, guiding operators through the Nevis license application process and managing ongoing maintenance. For operators aiming to balance credibility and affordability, Nevis, with Fast Offshore’s expertise, is the perfect iGaming jurisdiction in 2025. Contact us for more information!