Reputable gambling operators must obtain a valid licence before launching online platforms. Thankfully, today we know several renowned jurisdictions that issue licences to companies wishing to run online casinos, poker platforms, or bookmakers. One of them is Curacao, a small island part of the Dutch Caribbean, formerly known as the Netherlands Antilles.
Whether we’re talking about startups or experienced operators, many opt for the Curacao licence for several reasons, including its accessibility, cost-efficiency, and simplicity.
We’ll explain the benefits of obtaining a Curacao licence in the following paragraphs. Afterwards, you’ll understand why many operators say it’s worth the trouble.
Simple Application Process
To obtain a valid Curacao online gambling licence, you’ll have to go through one of the shortest and easiest application process out there. First off, an operator will have to meet a set of requirements before applying, such as:
- Registering a company in Curacao
- Appointing a local representative
- Providing detailed and transparent game descriptions
- Creating comprehensive website rules
- Having a physical server in Curacao
- Presenting evidence of game auditing and an RNG certificate
- Committing to not allowing minors or particular residents to create accounts
Afterwards, the straightforward process begins. The pre-approval process includes presenting the documents mentioned above to a corporate service provider. The company then submits the application form to the Curacao Gaming Control Board.
Once the CGCB evaluates the application and checks if all the information is correct, it gives its seal of approval. The operator will receive its licence in six weeks and launch its gambling platform. Keep in mind that this is just a simple overview of the process.You can learn more about the Curacao gaming licence on GBO licensing.
Another great thing about the Curacao gambling licence is its cost. Unlike other jurisdictions with staggering fees and taxes, Curacao is relatively cost-effective. Although the price can vary depending on many factors, the overall expenses range between £16,000 and £21,000.
While it’s difficult to predict the exact cost for a specific company, the great news is that the Curacao jurisdiction accommodates almost every budget. That way, even a smaller company can apply for a licence without going bankrupt.
Zero Corporate Income Tax
Many online gambling operators have chosen Curacao as their home, mainly thanks to its flexible tax laws. The only tax the company must pay is 2% on net gains, and that’s it. So, as long as the casino or the bookmaker generates its revenue outside the country, the government won’t introduce any payable tax on the corporate income.
Certain jurisdictions require operators to have different licences based on the type of gambling they offer. For instance, the Gambling Commission has seven licence categories with distinct requirements and application processes. Read more about it here.
On the other hand, the Curacao gambling licence covers it all — online casinos, sports betting, online poker, esports, live casinos, and so on. Therefore, obtaining a licence from Curacao will allow you to carry out gambling activities.
However, the Government of Curacao recognises two licence categories — master and sub-licence.
The first one allows the holder to establish and operate an online gambling business. It also grants the licensee power to issue sub-licences to third-party companies. The master licence is issued by the Ministry of Justice of Curacao. Consequently, only four companies in this jurisdiction hold this licence:
- Gaming Curacao
- Curacao eGaming
- Curacao Interactive Licensing NV
- Antillephone NV
That brings us to the second category — sub-licences. The carriers of this licence can offer all gambling products while operating from this jurisdiction. Therefore, the master licence holders are the primary source for issuing sub-licences to applicants.
Today, the iGaming market is teeming with online casinos, sports betting sites, and poker platforms that hold this license.