Gaming curacao license has always been the gold standard for almost every startup. A license covers all verticals and gives you a global reach. The fast application process, relatively low price, and huge benefits have led many well-known operators like stake.com, roobet.com, betfury.io and many others to choose this license.
Benefits of the Curacao online gambling license
Acquiring a Curacao online gambling license offers a variety of benefits that can significantly boost your online betting business:
Tax advantages: Curacao offers favorable tax rates for online gambling operators, making it an attractive option for entrepreneurs looking to maximize their profits. Corporate income tax is only 2% and dividends are exempt from income tax.
Quick Licensing Process: Compared to some other jurisdictions, the application process for a Curacao Gambling License is relatively straightforward and quick, so you can get your business up and running faster. Excluding the time required to incorporate, most businesses can obtain their license in as little as four weeks. In comparison, the process for the Maltese MGA license takes several months.
Trust and credibility: a Curacao Gambling License instantly adds credibility to your online gambling business. It shows that your business complies with international standards and regulations and builds trust with your customers and potential business partners.
Access to payment providers: Most payment service providers and banks prefer to work with licensed gambling operators. With a Curacao License, you will have an easier time setting up payment gateways and ensuring smooth transactions for your players.
Access to software providers: This is the most important point because all major gaming providers only work with licensed casinos. Curacao license will give you access to 99% of the market, including monsters like Evolution, NetEnt, Play’n’Go, and others. So you can offer all the popular games in your online casino – games that people love to play.
Global reach: You can target most countries in the world under the Curacao license. You don’t have to focus on a single country and you can expand your reach and potential customer base exponentially. Restricted countries by the Curacao license: USA, UK, Netherlands, France, Spain, Austria, Germany, Australia and Dutch Antilles.
Corporate income tax
Online gambling operators who secure a Curacao gambling license enjoy a unique tax advantage. They are exempt from paying any taxes on their revenue. In order to take advantage of this tax benefit, it is important that all revenues come from foreign sources, meaning that they must be generated outside Curacao’s borders. In addition, operators must ensure that they comply with all applicable regulations regarding the economic substance and/or permanent establishment.
In order to apply for tax exemption, companies should carefully document and keep records of their activities to demonstrate compliance with these rules.
Prerequisites for obtaining a Curacao eGaming license
Before you embark on the journey to obtain your Curacao eGaming license, there are a few requirements you should consider:
Business structure: you need to establish a legal entity in Curacao. This company will serve as the basis for your license application. However, this is not enough in most cases, because the right business structure must also solve cash flow issues. At LicenseGentlemen, we carefully plan the structure of your business so that you can benefit the most from working with the best payment providers and offer your players easy ways to deposit and withdraw money.
Documents you must provide to start the process
In order to meet the strict requirements for obtaining a Curacao Gaming License, any person acting as an ultimate beneficiary, shareholder, or Managing Director must meet a number of requirements and submit several important documents. These essential criteria will help ensure the integrity and legality of your online gambling operation:
Passport copy
It is mandatory to submit a valid passport copy. This document serves as proof of identity and citizenship and allows regulators to confirm the legitimacy of all key personnel involved in your gambling operation.
Proof of Address
In addition to identification, proof of address is also important. This can be in the form of utility bills, bank statements, or other official documents that confirm the applicant’s residential address. It helps to clearly establish the applicant’s residence.
Detailed Curriculum Vitae (CV)
A detailed resume is required to provide an overview of your professional background and qualifications. This document helps assess the expertise and suitability of individuals associated with the business.
Business Plan
Submitting a detailed business plan is an important step. It should outline goals, strategies, financial projections, marketing plans, and compliance measures. A well-structured business plan shows that you are committed to running a successful and compliant business.
Bank Reference
A bank reference is necessary to confirm your financial stability and reliability. It shows that you are financially capable of handling the operating costs and payouts associated with the online gambling business.
Certificate of Police Clearance
A certificate of police clearance is essential for all key players. This is a document issued by law enforcement agencies that confirms a person’s criminal record or lack thereof. This step ensures that the people involved in your business have no criminal record, promoting trust and transparency.
Source of funds
Providing a detailed and transparent source of funds is a basic requirement. You need to prove where the capital invested in gambling comes from and ensure it was acquired legally. This is an important measure to prevent money laundering and illegal financing.
Application Process for a Curaçao Gambling License
The application process for a Curacao Gambling License is a structured, step-by-step procedure:
Preparation: gather all necessary documentation, including business plans, financial statements and personal background checks for all your UBOs, beneficial owners and Managing Directors.
Submission: Submit your application along with the required fees to the Curacao eGaming Authority.
Review: The Authority will review your application and perform due diligence checks. This process can take anywhere from four weeks to twelve months. Depending on your business model, we will explain exactly how long it will take to get your license so you don’t have to wait longer than necessary.
Approval: After a successful inspection, you will receive your Curacao gambling license, which will allow you to legally operate your online casino or sports betting website.
Types of Curacao Gambling Licenses
The Curacao license is technically the sublicense. All licensed casinos, betting websites, lotteries, etc. operating under the Curacao license have acquired the sublicense from one of the four regulatory authorities (master licensors).
Curacao regulators – Master licensors
There are four regulators on the island. All four have the right to grant sublicenses and to maintain the licenses of all active operators.
Practically, your company can get a license from any regulator. From a business point of view, there is no difference.
The difference is in the cost of the license, the time it takes to obtain the license, the compliance process, and the bureaucracy involved in maintaining the license. Most entrepreneurs want the license as quickly and as cheaply as possible. The trick is to find the best approach for your business or the license may be denied.
We receive several calls every week from business owners who have been unsuccessful in getting their license. In most cases, we know exactly what happened. “You can’t fit a round peg in a square hole,” just like you can’t get a license for your business model from a regulator that doesn’t support it. Every situation is different and regulators have their own rules and procedures.
Unfortunately, many people don’t know this and fall into the trap of rogue providers who don’t have the experience to get the job done.
Before we start the onboarding process, we create a plan and select a regulator suitable for the task. This allows us to optimize the time and cost of licensing.
Regulators – Master Licensors certified to issue sub-licenses on Curacao:
- Antillephone N.V. #8048/JAZ
- Cyberluck Curacao N.V. (Curacao-eGaming) #1668/JAZ
- Gaming Curacao #365/JAZ
- Curacao Interactive Licensing N.V. (CIL) #5536/JAZ
Renewal of Betting License in Curacao
To keep your Curacao Gambling License, you need to renew it annually. When renewing, you must ensure that your operation continues to meet all necessary regulatory requirements, demonstrates your commitment to responsible gambling, and remains financially stable. You must pay an annual renewal fee and provide the required compliance documentation.
The process can be time-consuming. At LicenseGentlemen we take care of it so you can focus on your business instead of bureaucratic hassles.
Curacao Gaming License Cost and Fees
The costs associated with obtaining and maintaining a Curacao Gambling License can vary depending on factors such as the number of beneficial owners and your business model. It’s important that you budget for initial application fees, annual renewal fees, and other associated costs.
Two different licensing and service structures can make a significant difference in the cost and time that is necessary to finish the setup.
However, it’s worth noting that Curacao’s favorable tax rates usually offset these costs, which ultimately has a positive impact on your bottom line.
In conclusion, a Curacao Gambling License is not just a piece of paper, but also your access to the best software and payment providers necessary for a perfect product for your players. It offers credibility, access to global markets, and tax benefits that will allow you to compete with other successful businesses.