Curacao Gambling License

• A company with a gambling license in Curacao has a lot of advantages compared to similar licenses in the EU and offers more freedom in the services offered to the client.
• If you are interested in obtaining a Curacao license for gambling, it is important to note that there are two types of licenses available: a basic license and a sub-license. For the first license, only the Minister of Justice can personally decide on the issuance, based on his authority. In turn, holders of basic licenses (currently, there are 4) have the right to issue an unlimited number of sub-licenses at their discretion.
• That is, the Curacao gambling license is not issued directly from the regulator, but is a sub-license from the holder of the main gambling license, where each of the 4 holders of the main license regulates their sub-licenses differently. This model provides more flexibility for the client in their choice of license and makes the overall regulation much looser.

• One sub-license for any type of gaming activity.
• There are no special requirements for the registered capital, the creation of a gambling business under the jurisdiction of Curacao is much more accessible from the investment point of view.
• Low taxation (2% profit tax, 0% income tax).
• Gambling licenses have been issued for more than 20 years, Curacao can be considered one of the advanced tested jurisdictions.
• The process of obtaining takes up to 6 weeks.
• Security and legalization of business increase the confidence of clients and the company’s credibility.
• Minimal documentation package.
• Ability to create a transparent gambling environment.
• Ability to accept cryptocurrency payments.
• Requires no personal presence.
• Online confirmation of license.

After deciding that Curacao is the best place to establish your new gaming company, the next step is to research the requirements associated with obtaining a gaming license in Curacao.

The registration procedure requires finding out your personal and business information, including your plans and location, as well as your source of funding. Requirements for obtaining a Curacao Gambling license include:

• registration of the company in Curacao;
• having a local representative;
• providing a full description of the games;
• establishing a Site Usage Policy;
• domain ownership;
• obligatory location of at least one physical server of the company within the jurisdiction;
• application of AML (Anti-Money Laundering) procedures to each player;
• technical audit of each game system, including software;
• certification of software – RNG (Random Number Generator).

Registration is not permitted for persons under 18 years of age, as well as residents of the USA and the Netherlands Antilles, and other countries in which citizens are prohibited from participating in gambling.

As mentioned earlier, to obtain a gambling license in the Curacao jurisdiction, you must first establish a local company, which can be either a public limited company (NV) or a private limited company (BV). The timeframe to incorporate a company varies from 2 to 3 weeks depending on the complexity of the business, but it can often be incorporated within one day.

The basic requirements include the following:

• the name must be unique and comply with the requirements of Curacao law, it can contain the abbreviations Ltd., Corp., Incorporated, Inc.;
• a minimum of one local director (natural or legal person);
• a minimum of one local manager;
• minimum one local AML and KYC compliance officer;
• minimum one shareholder – an individual or legal entity (no residency requirements);
• appointment of a secretary – not required;
• annual shareholders’ meeting to be held in Curacao;
• no authorized capital requirements;
• physical office in Curacao.

The registration process can be divided into the following stages:

• preparation of documents;
• filing documents with the Curacao Chamber of Commerce;
• payment of registration fees;
• receipt of the certificate of registration.

Documents for registration:

• Articles of incorporation of the company;
• decision on the establishment of the company;
• a document confirming the address of the registered office;
• information on the beneficial owners;
• identity documents of shareholders and directors (certified copies).

To clarify the full list of documents for company registration in this jurisdiction, please contact our specialists.

In addition to the above requirements, regulators will also require details of your competence to conduct Online gambling operations and proof of your good standing. For this purpose, each officer, authorized person, shareholder, director, beneficial owner, or ultimate beneficial owner must provide the following documents:

• A certified copy of the UBO passport
• A certified copy of a second UBO identification card (e.g., driver’s license)
• Original or certified copy of utility bill
• Original letter of recommendation from the bank (from a lawyer or accountant)
• Certificate of No Criminal Record
• CV
• SOF declaration (we can provide a format)

All documents submitted must be in English and dated no more than 90 days ago. If any documents are not in English, certified English translations must be provided.

As mentioned above, since 1999, gambling regulations in Curacao have been controlled by the Curacao Gambling Control Board (GCB). Since then, the GCB has been responsible for issuing and regulating licenses for all gambling activities in Curacao, including online gambling. A specialized unit within the Ministry of Finance, the Financial Intelligence Unit (FIU), is now responsible for receiving, analyzing, and disseminating information related to money laundering and terrorist financing.

The following gambling activities are regulated in Curacao:

• Casinos are regulated by the National Regulation on the Casino Sector of Curacao (AB 1999, No. 76). Casinos must have a GCB license and comply with strict regulations regarding gaming equipment, security, and responsible gaming measures.
• Wega di Number is a traditional lottery game in Curacao, regulated by the Lotteries Ordinance 1909 (AB 1965, No. 21). The game is operated by the Stichting Wega di Number Foundation under license from the GCB.
• Commodity lottery, also regulated by the Lotteries Ordinance 1909, involves the purchase of tickets with the opportunity to win goods or prizes.
• Bingo and bon coune are games regulated by the National Dangerous Gambling Ordinance II of 1988. Operators must be licensed by the GCB and comply with the Responsible Gaming Regulations.

There are several other laws and regulations governing gambling in this jurisdiction. Of the main ones worth mentioning:

• The National Ordinance on Internet Gambling (Landsverordening buitengaatse Riskspelen, PB 1993, No. 63);
• Legislation designed to combat money laundering and terrorist financing;
• Card games regulations 2016;
• Live Bingo Regulations 2016;
• GCB sports betting license regulations 2013;
• GCB-Guidelines for Responsible Gaming 2012.

The Curacao authorities are currently undertaking a major reform and modernization of its gambling legislation, including the online sphere. On September 1, 2023, the Gambling Compliance Ordinance (Landsverordening op de kansspelen, Lok) came into force. This regulation established the Curacao Gambling Authority (CGA), which will be the new regulator under the reform. The CGA is empowered to issue licenses, monitor operators, and impose sanctions for violations.

The legislation is currently in a transition period of 18 months from the date of publication of Lok. While the Gambling Control Board continues to issue licenses, however, some new licensing rules have already come into force.

Key changes in the new rules:

• Enhanced due diligence of applicants, including background checks and financial audits.
• Stricter measures for responsible gambling – operators must implement stricter measures to identify and support problem gamblers.
• Enhanced cybersecurity measures – operators must implement robust cybersecurity measures to protect player data and prevent fraud.
• Anti-money laundering compliance to prevent gaming platforms from being used for illegal activities.

The new regulations are expected to have a positive impact on the Curacao gambling industry by:

• protecting players from harm caused by gambling addiction and financial problems;
• enhancing Curacao’s reputation as a reliable and responsible gambling jurisdiction;
• attracting more reputable operators and players to the Curacao market.

Mandatory local presence (office and staff)

Over the last few years, many countries, including Curacao, have tightened the requirements for foreign investors wishing to obtain a gaming license.

In order to obtain a Curacao gambling license in 2023, a local company must be registered and fully operational in Curacao. One of the main changes is the tightening of the requirements for the actual presence of employees in Curacao: while previously one person was required for a key position, the new rules require three or more employees. Local director, local manager and local anti-money laundering officer are considered key positions. In addition, a physical office is required within the first 5 years of the effective date of the law, and the premises used by the company must meet the requirements for gambling activities.

The changes also apply to types of licensing.

There used to be two types of licenses in Curacao: a master license and a sub-license. Curacao’s master license was issued by the GCB, granting the right to conduct gambling activities on the Internet, as well as independently granting sub-licenses to other companies. Since its introduction in 1996, only four companies have been granted a master license:

• Curacao-eGaming;
• Curacao Gaming (CG);
• Antillephone NV;
• Curacao Interactive Licensing NV.

Sub-licenses could have been issued by master license holders, but with the introduction of the new rules, master license holders no longer have this option. In addition, Curacao plans to scrap the master license and sub-license system in favor of issuing authorizations directly from the government in two categories:

• B2C – online gaming operator license (bookmaker, casino);
• B2B – license of a supplier of games, “white label” platforms, and payment solutions.

According to the new Regulation, CGA may grant a license for 5 years, which can be called a “regular” license, or a temporary license – for 6 months with the possibility of renewal for another 6 months. A temporary license is granted if the applicant has minor or easily remediable non-compliance with the new requirements.

The application procedure for a gambling license in Curacao is currently simpler than in many other popular jurisdictions. Once a company is registered in Curacao, it takes approximately 2-6 weeks to obtain a gambling license.

The application process includes the main steps:

• document preparation;
• registration on the GCB portal (from September 1, 2023, it is possible to obtain a license in CGA);
• filling in the online application form;
• handing over the prepared documents;
• payment of the application fee;
• due diligence and background check;

After verifying the information provided by the applicant, the regulatory agency will issue you a license.

To ensure that the licensing process takes minimum time, it is highly recommended that you seek the assistance of Fast Offshore Licenses lawyers who specialize in gambling law.

• Setting up a company and getting a Curacao gambling license.
• Opening of a corporate account.
• A ready-made platform for online casinos.
• Possibility to set up any kind of gambling business: bookmaker’s office, lottery, casino, betting on sports, etc.

Obtain a license to provide gambling services. The company will be registered and licensed in the jurisdiction of Curacao. Our offer includes a complete setup of the company with all the necessary infrastructure and obtaining a a Curacao gambling license for the client to do business..

• After concluding the deal with the client, the stage of preparing documents with full legal support to start the process of creating a company begins. Our experts will consult on the advantages of the jurisdiction and the process of opening a business and provide full support at all stages of company registration and account opening.
• When your company is registered, specialists (company name) prepare all necessary documents and help the client open a corporate account for commercial activities. We offer a flexible variety of solutions for our clients, from the simplest creation of a company with the necessary license to the full creation of a ready-to-operate business for our clients.
• In parallel with the process of establishing the company, AML policies, terms of service, privacy, and personal data management policies are prepared and tailored to the client’s business activities. This model makes it easier for the client to open a corporate account and makes it more promising and respected by its clients.
• In addition, you will receive full legal support and advice on all matters, including gambling jurisdiction, taxation, personal data, the package of documents, insurance, etc.

The world experts of the financial industry agree that the IGaming sector is a very large and developing industry. Statistical reports, which are published every year, show a steady growth of revenues, demonstrating an upward profit level of the online sphere, regardless of external factors: economic crises or pandemics. That is why, with the increased demand for online entertainment from customers: betting on different types of sports games, lotteries, full-fledged online casinos, and other types of gaming sector become a reliable and competent investment.

In addition, the advantages of this jurisdiction are the absence of VAT and tax rates, and the presence of low corporate income tax. Curacao has established itself as a stable financial transactions industry with a progressive legislative system. Accordingly, the jurisdiction of Curacao allows you to quickly and with minimal investment start a gambling business and allow the company to grow to obtain an EU license in the future.

Our clients come to us with different projects and ask us to set up a gambling business with the lowest costs and the softest regulation.

Let’s look at the difference between getting a license in different jurisdictions using two examples:

Compared to other jurisdictions, where regulation is also relatively lenient and getting a license is quite easy, Curacao does not require a big investment from the company.

• To get a license in Cyprus, you have to contribute 100,000 euros of share capital. Curacao does not require a share capital contribution.
• To get the Maltese licenses you have to pay for each of the service categories: sports betting and RNG games 25,000€ each, poker will cost another 25,000€, fantasy sports 10,000€. In the end, it would cost 85,000€ just for the 4 licenses. The Curacao license, with one license, allows you to work within all the available types of Internet gaming.

Often the service of this jurisdiction is offered with the same basic model, where it is assumed only to create a company and obtain a license without any additional services that the client may need to work comfortably.

• Our team takes a completely different approach. The service is highly flexible for the client, allowing them to choose the level of our involvement from the simplest licensed company to a full-scale business set up with a gaming sub-license from a gaming license holder in Curacao. This license will allow clients to operate completely legally with the least amount of investment.
• Policy (company name) is a comprehensive individual work, the creation of the company “turnkey”, solving absolutely any legal and organizational issues at every stage of the work. We will take care of all the procedures for obtaining a curacao gaming license establishing a company, necessary payments, and corporate accounts.
• A dedicated consultant with a fully secured individual approach will guide you on all issues related to incorporation, opening a bank account, the registration process of the inspector general of financial information, and answering all questions by phone/email/WhatsApp and other communication channels. You will be provided with assistance in setting up a turnkey company – remotely/in person (making appointments with the notary, sworn translation of documents, arranging other legal formalities), state fees, and notary fees are included.
• In addition, our work includes the process of acquiring a gaming sub-license from the holder of the main license, preparation of apostilled corporate documents, and preparation of procedural documents such as AML/KYC policies. Based on the chosen package of services, you will have available: registration of a subsidiary company in Cyprus to act as a paying agent, as well as provision of a WhiteLabel software platform for any type of gambling activity.
• Among other things, we will offer the Curacao license as an alternative to the EU licenses, because it provides more freedom in the variety of services offered and has a number of other advantages.