For startups and entrepreneurs looking to branch out into online gambling, Curacao is perhaps the most obvious choice. The Curacao gaming license is one of the world’s most popular with some 450 online gambling operators licensed and operating from within the jurisdiction. But what makes it so popular?
Firstly, Curacao is considered as by far one of the most accessible jurisdictions for licensing. It also has one of the shortest processing times and offers a one-size-fits-all license, regardless of the game type. This, combined with its cost-efficiency, means it is the perfect location for startups and those taking their first step in the online gambling business.
Benefits of the Curacao Gambling License
The acquisition of a Curacao gambling license brings with it many benefits for the holder. These include benefits related to the operation of a gambling company as well as corporate and fiscal incentives.
Quick and cost-effective
The process for acquiring a Curacao license is the shortest out of all gambling licensing jurisdictions. Of course, this hinges on the applicant submitting all documents in a quick and timely manner. It also means the documents should be in-date and notarized where applicable. In some cases, the process can take two business days, not including the time needed to compile the documents. This makes Curacao great for entrepreneurs who’ve got a tight deadline and need to be live and profitable as soon as possible.
In terms of cost, Curacao is one of the most efficient there is. Setup and ongoing maintenance costs are affordable and accessible to all budgets, particularly those that are just starting.
Easy and hassle-free
The application process for a gambling license can be a bit daunting. Think masses of paperwork, application forms, and supporting documents which take a lot of time and money to compile. This is not the case in Curacao. There are still requirements that need to be met, but the amount of bureaucracy is limited meaning it’s much less of a headache for those that apply for a gaming license.
Curacao remains as perhaps the quickest and easiest jurisdiction to get a gaming license from. With a straightforward process and easy ongoing maintenance, it provides entrepreneurs with a great sandbox opportunity to test their concept before tackling a tougher licensing jurisdiction.
One license covers all
Some jurisdictions have different kinds of licenses depending on what games you’re offering. Some have add-on permits for different game classes. This means if you want to offer games such as slots, live table games, casino games, lotto, and bingo, you may need to go through the licensing process multiple times. This is not the case with a Curacao gaming license.
The Online Gaming License covers every kind of iGaming-related activity in one, single, license. Game providers, software developers and providers, operators, and games such as sports betting, online casino, lotto, online poker, eSports, live games, scratch cards and games of chance are all covered. This offers high levels of cost-effective flexibility to gaming companies who may want to diversify their portfolio of offerings in the future.
Operators that acquire a Curacao gambling license are not liable to pay any tax on their corporate revenue. Of course, all income must be generated outside of the country to benefit from this fiscal incentive. This zero rate of tax is significantly lower than in many other jurisdictions. The great thing is that this is still within international rules and is fully compliant with international taxation best practices.
Great for startups
As a startup taking the first step towards online gambling, a Curacao license is the most sensible choice. It allows the company to test the concept, get a client base, and reinvest funds without having to pay a fortune in costly applications, taxes, and fees. Furthermore, it supports holistic growth and allows the company to diversify into other market segments, games, and areas without taking a financial hit.
Fast Offshore will usually recommend the Curacao gaming license to startups setting up their first online gambling platform. It provides the flexibility to explore, develop, and experiment without investing a large amount of capital. Once the business is running and in good shape, there is always the option to expand into new markets. This can mean applying for a license elsewhere and we can also assist in that transition.
Requirements to get a Curacao Gaming License
If you decide that Curacao is the optimum location for your new Gaming company, the next step is to consider the applicable gaming license requirements.
First up, Fast Offshore has a standard onboarding procedure during which we are required to ascertain who you are, what you intend to do, where you live, and where your funds are coming from. The Curacao authorities will also need to know this information, and more before they can issue your online gambling license.
In addition to this, they will also require a fit and proper test and be assured that you are a person of good conduct. This consists of a police conduct report from your country of origin, showing that you have no criminal record. You will also be asked to provide details of your ability to conduct the operations of an online gambling company.
Each and every officer, authorized person, shareholder, director, beneficial owner or ultimate beneficial owner must provide the following documents:
- Certified Copies of Passport* (the pages with photo and signature)
- Original or certified copy of a Utility Bill
- Police Clearance Certificate / Certificate of no criminal record
- CV / Resume
- Original Banker’s Reference (Relationship must be longer than 2 years)
- Original Professional Letter of Reference from an Accountant or Lawyer (Relationship must be longer than 2 years)
- Details of Software including copy(ies) of software agreements and/or 3rd party certification of the RNG application and its fairness (if applicable)
- Proof of domain ownership
- Copies of Terms & Conditions which must include underage gaming policy, responsible gaming policies, and player KYC policy.
NOTE – All documents must be in English and dated no older than 90 days. Where documents are not in English, certified English translations are required.
Curacao License Cost
The gambling license cost will vary depending on the exact needs and circumstances of the individual and company. You will be glad to note however that there’s an option for practically every budget. At Fast Offshore, we understand that each company is unique and individual and as such, has different needs, structures, and obligations. Bearing this in mind, we are flexible and are prepared to offer clients a tailor-made solution for your business needs.
We look at the whole picture- you, your product, your goals, your deadline, and your budget, and from there we create a custom package just for you. Offering full transparency on pricing, and pledging never to charge you for something you don’t need, let us help you create the perfect plan.Ron Mendelson, Fast Offshore CEO
Fast Offshore listens to what you need, taking into account your goals and concerns. From there, regardless of business size, structure, or vision, we can make the process work for you.
We can help you apply for your online gambling license and set up a Curacao company. Additionally, we can negotiate merchant and payment provider terms, open your corporate bank account, and help you with ongoing maintenance and compliance. Contact us to discuss your requirements and let us help you on the road to success with your Curacao gaming company, today!
Curacao Gaming License Turnkey Package
After more than two decades of working in the online gambling industry and helping corporate clients, we have amassed quite a bit of knowledge on Curacao gaming licenses. Based on this hands-on experience, we have carefully crafted a comprehensive collection of services that we know are needed as a part of the process.
The entire process will take between 7 to 10 weeks, making it one of the fastest licenses available. Work with Fast Offshore and make sure your vision goes live on time and budget.
The turnkey package from Fast Offshore takes care of all administrative, regulatory, compliance, tax, accounting, and maintenance considerations. This means that busy business owners have more time to spend on important matters such as marketing, games, and launching the platform.
The Complete Turn-Key Curacao Gaming License Package has been designed for business operators. It includes everything that a startup, entrepreneur, or more experienced operator needs to operate their online gambling license with a Curacao sub-license. The best thing is that the price of this package is more competitive than all of the other online gambling licensing jurisdictions at the moment.
This package includes corporate structuring and Curacao company incorporation, license application including due diligence and the required EU contracting company. The latter is necessary so that the Curacao gaming company can be used to offer its products globally (in places where online gambling is legal) with few restrictions on the nationality of the target audience. It also allows easier negotiations and better pricing with third-party service providers and an easier bank account opening process in more jurisdictions.
Additionally, Fast Offshore will create a highly-efficient corporate structure that ensures maximum fiscal benefits as well as discretion where required. We often suggest that our clients open a Cyprus EU contracting company as this allows for the best tax-optimized structure. Cyprus enjoys a welcoming business environment that is experienced with online gambling, as well as legal and efficient tax rates.
Payment providers and merchant accounts are a very important part of your business, as is negotiating the best possible rates with them. If you go it alone, chances are you will pay the market rates which can be higher than you would expect. By going through Fast Offshore who has longstanding relationships with most of the market leaders, you can enjoy beneficial rates and lowers costs.
As a part of the Turn-Key Package, we will open a corporate settlement account in the name of your Curacao gaming company, and a corporate merchant account that allows you to accept Visa and Mastercard payments. We have close professional ties with a range of international banks and financial services institutions and can secure you the absolute best rates going.
The license we will apply for on your behalf is known as a ‘sub-license’. This is a one-size-fits-all license that will allow you to carry out a wide range of online gambling activities including casino games, live dealers, slot, bingo, lotto, eSports, sports betting and more.
What Does Exactly the Turn-Key Package Include?
- An Offshore Corporation: Incorporating offshore is an excellent choice when it comes to registering an offshore holdings company. Featuring ultra low-tax status and some of the world’s friendliest corporate legal environments.
- A European Contracting Company: We recommend and use Cyprus for incorporating the required EU contracting company. Cyprus is an ideal choice when it comes to incorporating a company for international business activities especially online businesses focused on Asian, European, and Latin American markets. Tax optimized corporate structure combined with low-tax on profits and one of the world’s friendliest business environments enable you to conduct your business successfully.
- Curaçao Gaming sub-license
- A Corporate Account for iGaming: We work with a variety of international payment institutions and financial institutions that cater to the online gaming industry.
- Direct Online Gaming Merchant Accounts for acceptance of both Visa & MasterCard at the absolute best rates, as well as additional alternate payment methods: Once you have your business established you will need to be able to receive payments from your customer.
- Payment processing account(s) for processing APMs (alternative payment methods) worldwide such as AstroPayCard, Cash to Code, MuchBetter, ecoPayz, Banco Boleto, and many more.
- Ongoing Personalized Assistance: Let us assist you to conduct your business offshore. Want to get favourable conditions when applying for additional merchant accounts? Want to know where you can invest your offshore profits for maximum return? … Ask us!
Contact Fast Offshore to Get Your Quote
We know how the process works and we are familiar with all of the challenges and nuances along the way. As well as our hands-on experience, local knowledge, and vast industry expertise, we take an individual approach to our clients. While we offer a Turn-Key Package, we can also tailor it to suit you. All you need to do is tell us what you want and let us take care of incorporation, management of corporate structures, tax-efficiency, payment and merchant accounts, and applying for the gambling license. To get the ball rolling, contact us today to find out more!
Ongoing maintenance of your Gaming License
Once you’ve got your Curacao gaming license and the applicable corporate structures in place, you need to maintain it. Annual reports, compliance, processes, renewal fees, and various other matters all require periodic attention. Furthermore, you will likely want to expand your business as time goes on. This could include adding additional payment accounts, expanding the business description, changing directors or shareholders, or adding additional licenses to your portfolio.
To help you take care of these matters, it’s advisable to engage Fast Offshore to manage your ongoing maintenance. We can assist you with all of the above, and more in the weeks, months, and years after the initial set up is complete. Rather than trying to do it yourself, it makes sense to let Fast Offshore continue, as we are already familiar with you and your company.
Annual renewal fees for the Curacao gaming license are also low and Fast Offshore offers a superb-value maintenance package for all customers. This means that for a competitive fixed price, we will take care of all corporate matters, compliance obligations, and other corporate and licence related issues on an ongoing basis.
Curacao Gaming License Tax
An online gambling company operating in Curacao enjoys a tax rate of zero and zero on corporate tax. As long as revenue is generated outside of the country, there is no tax payable on any of the income to the Curacao gaming company.
This is fantastic news for operators, especially startups and entrepreneurs who will be looking to keep costs low. The best thing is that these zero tax rates are still within international rules meaning you are not breaking the law.
Curacao is a solid option for startups and a seal of approval for legitimacy, online gambling operators in Curacao comply with the EU Code of Conduct against harmful tax practices. To find out more about your tax liabilities with a Curacao online gambling company and license, contact Fast Offshore for specialist advice tailored to your specific circumstances.
Why is the Curacao Gambling License is ideal for startups?
When it comes to considering jurisdictions, many gambling startups will automatically think of conventional location such as the UK, Malta, or the Isle of Man. While they each offer licensing options, the process and acquisition of a license can be costly, complex, and time-consuming.
We recommend opting for a jurisdiction like Curacao for a gaming license. Particularly for startups or entrepreneurs, testing a concept or new platform is a risky process, therefore it’s best to opt for a lower-cost licensing jurisdiction first, and then consider other options later. We advise many of our clients to obtain a Curacao gaming license first to test the water. Later, decisions can be taken as to whether the platform’s licenses will be transitioned elsewhere, an additional license will be sought, or whether to stay put.
As a general rule, the Curacao license is optimum for startups because it is cost-efficient, and requires little bureaucracy and paperwork to obtain. It can also be acquired quicker than other online gambling jurisdictions.
If you’re looking to get set up and go live sooner rather than later, the Curacao gambling license is the obvious choice. A license that suits every budget, you can get regulated for every kind of casino game and gaming services, by undergoing a relatively straightforward procedure.
To set up an online casino, you only need one license. This means that whether you want to set up an eSports gambling site, a live casino, a slots app, or a mixture of all of them, you only need one single license to do so. Compared to some other licensing jurisdictions, this is considerably more beneficial, particularly for startups who might wish to add more games and services to their portfolio in the future.
In addition to this, Curacao has some of the best fiscal incentives on offer with 0% payable on all online gambling revenue and a zero rate of VAT. There is also no sales tax, import duties, no tax on gross bets, and no restrictions on the withdrawals of dividends.
If you want a quick, simple, stress-free, cost-efficient, and zero-tax-but-still-compliant licensing option for your online gambling company, Curacao is the jurisdiction for you. To find out more about Curacao licensing or to just chat with Fast Offshore about your plans and vision, contact us today. We have over 22 years of experience helping people just like you and are here and ready to talk.
History of online gambling in Curacao
In 1993, Curacao created some of the first legislation in the world for regulating the fledgeling online gambling market. A few years later, in 1996, the government created the Gaming License Authority who would issue licenses as well as supervise and monitor the industry. After the first license was issued, interest in Curacao as an online gambling licensing jurisdiction increased and the applicable legislation grew with it. By 2001, the Curacao Internet Gaming Association was created to ensure that all gaming operators were in line with the regulatory framework and the code of conduct.
Today, it is one of the largest online gambling registries in the world. This is due in part to its affordable licensing requirements and the ease of the acquisition process. This, combined with its strong financial service sector, well-developed telecommunications infrastructure, and political and economic stability makes it the jurisdiction of choice for iGaming startups from all over the world. It is also home to several international, well-established gaming companies that have been operating there for many years.
The government in Curacao has worked hard to create a business-friendly environment for offshore gaming companies. This includes providing for the creation of flexible corporate structures, and zero taxes. Despite being labelled as a “tax haven”, Curacao complies with the EU Code of Conduct against harmful tax practices. It’s also a qualified intermediary from the IRS, an OECD jurisdiction, enforces CTF and AML compliance, and is a member of the Caribbean Financial Action Task Force on Money Laundering.
Who issues Curacao sublicenses?
Anyone wishing to acquire a Curacao gaming license will apply for what is formally known as a sublicense. The Curacao Ministry of Justice initially granted just four Online Gaming Master Licenses. These four license holders:
- Cyberluck Curacao N.V. #1668/JAZ
- Gaming Services Provider N.V. #365/JAZ
- Curacao Interactive Licensing N.V. #5536/JAZ
- Antillephone NV #8048/JAZ
An applicant for a sublicense from a master license holder can operate under the master license holder’s license, as long as they meet certain criteria. These criteria must be met at the stage of application as well as on an ongoing basis. Because of this, they will enjoy the same privileges and rights that the master license holder has, but without the ability to issue licenses.
This single sublicense covers any kind of game requiring skill or chance, as well as live games, lotto, bingo, eSports, sports betting and even slots. Additionally, it also allows the operator to carry out and offer services related to iGaming including aggregators, software providers, and platform operators.
Contact Fast Offshore
For more than 22 years, Fast Offshore has been working with startups, entrepreneurs, and already established online gambling companies. We have worked throughout the world but we have a special and extensive practice in Curacao. During that time and through these experiences, we have amassed a deep knowledge of the Curacao gaming license process, the requirements, and general obligations. We have established relationships with industry stakeholders including the authorities, service providers, and other gaming companies. This positions us as market leaders in terms of assisting our clients with Curacao licensing goals.
Through our vast and carefully vetted network of in-country contacts, we can ensure you move through the entire set-up process efficiently. We know all there is to know about requirements, criteria, nuances, and possible obstacles and can help you preempt and navigate whatever comes your way.
To apply for your Curacao gambling license, or just to discuss your plan, vision, or options, contact Fast Offshore today.
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