Can I get a Costa Rica Gaming License?
To be clear, the answer is no. There is no such thing in Costa Rica as an Online Gambling License, Data Processing License or any other kind of license that relates to Online Gaming.
There still is no governmental or regulatory framework governing online gaming in the country. The absence of legislation governing gambling operations or administration from Costa Rica means very clearly that a Costa Rica Gaming License does NOT exist.
The businesses and operations of Costa Rica-based online gambling or eGaming companies are not licensed, regulated or supervised in any way shape or form, including the so-called ‘Data Processing’ license.
Can I open a bank account for an Online Gambling Company in Costa Rica?
The short answer is, no. Banks in Costa Rica, just as other International Banks, have policies against servicing unlicensed, unregulated and unsupervised gaming businesses and will not open accounts for online gambling businesses.
Can I accept players from the United States with Costa Rica Gaming License?
Online Gaming is illegal in the United States. A federal license to serve the entire country does not exist as such, hence, there are only state-issued licenses that allow you to operate within the state.
As such, we do not provide service of any kind to companies planning to accept customers from the USA or any other countries where online gambling is illegal.
Why is Costa Rica still a viable option for some startups?
If you are a startup company looking to test the waters, with limited markets, and using cryptocurrency as your only method of payment, then creating a Costa Rica Online Gaming company is still a viable option.
However, to be a licensed, regulated and supervised company with the ability to process traditional payments and cater to a wider variety of markets around the globe, you must obtain a gaming license.
What are the benefits of registering an Online Gambling Company in Costa Rica?
- All nationalities accepted as directors or owners
- Only basic due diligence required
- Fast (5-7 Working Day) turnaround
- Affordable initial costs and fees
- No paid-up capital deposits required
- Affordable annual maintenance fees
- There is no betting or gaming tax whatsoever.
History of Online Gaming in Costa Rica
While in the not too distant past, the Central American country of Costa Rica has been home to more than 300 online gambling companies, the numbers have decreased dramatically in recent years.
Although an extensive Fiscal Reform plan has been introduced by current President Carlos Alvarado Quesada, of the PAC party, establishing a gaming control board or implementing licensing fees in Costa Rica was not part of it or even mentioned. Unlike his predecessor Luis Guillermo Solis, also of the PAC party, who had hoped to establish a gaming control board for online gaming.
In the past, the Finance Ministry had released draft plans for regulating the industry. Included in the plan was a tax on online gaming of 0.5 % of gross income to help fund the control board. Additionally, a 5 % tax would be levied for the fight against crime. The new board would report to the Minister of Interior and Police and would process six-year gaming licenses at a suggested annual fee of USD 50,000.