The licenses currently issued by the GCB under the existing NOOGH legislation are purely operating licenses – they have no separate B2B or B2C categorization. Later, after the new law comes into force, B2B licenses will only be mandatory for B2B companies that establish themselves in Curaçao. For all other relevant international companies, the B2B license will be optional.
Verifying a Curaçao Gambling License
When purchasing a gambling license, it’s crucial to verify the authenticity of any Curaçao gambling license. This ensures that you are engaging with legitimate and regulated license providers, thereby avoiding potential scams and ensuring compliance with industry standards. Verifying licenses not only protects your investment but also enhances the credibility of your online gambling operation. Additionally, verifying the license confirms that the operator adheres to industry standards, offering a safer gambling environment.
- Check the License Number: All licensed operators display their license number on their website. Note this number down for verification. This applies to any Curaçao online platform you might be using.
- Use the Validator in the Footer: The primary method to check the validity of a Curaçao gambling license is by clicking on the validator in the footer of the operator’s site. This validator will provide the status of the license directly.
- Review the Agreement and Certificate: Any legitimate operator will receive an agreement and a certificate from the GCB. Ensure you review these documents to verify their authenticity. Be aware that documents can be faked, so this step is crucial for checking the integrity of the license.
Look for the GCB Seal: Legitimate operators often display the GCB seal on their website. Ensure this seal is genuine and, if possible, leads back to a verification page.
What does the Curaçao Gambling Control Board do?
The Curaçao Gaming Control Board (GCB) plays a vital role in regulating and overseeing the gambling industry within Curaçao. Its primary goal is to ensure that the gaming sector operates fairly, securely, and responsibly. Here’s a detailed look at the functions and responsibilities of the GCB:
Licensing
The GCB is responsible for issuing licenses to various gambling operators, including land-based casinos, lotteries, charity bingo, and other charitable gaming activities, along with online gaming operators conducting business in or from Curaçao. The board ensures that all operators meet stringent criteria before obtaining a license, promoting a secure and trustworthy gambling environment.
Supervision
To maintain the integrity of the gambling market, the GCB closely supervises all licensed operators. This supervision helps to prevent and combat criminal activities such as money laundering and the financing of terrorism (AML/CFT). The GCB’s regulatory oversight ensures that all operators adhere to established rules and regulations, thereby protecting the public and the industry’s integrity.
For a detailed understanding of the new AML, CFT, and CFP regulations, we offer you the opportunity to download the “New AML CFT CFP-Regulations doc. GS U215 24 Notes.“.
Enforcement
As mentioned multiple times throughout this article, the GCB enforces compliance with gambling legislation and regulations. This includes conducting regular audits and inspections of gambling operators. Non-compliance with the regulations can lead to severe penalties, including fines and the temporary or permanent revocation of licenses. This strict enforcement guarantees that all operators maintain high standards of conduct.
Responsible Gaming
Promoting responsible gaming practices is another critical responsibility of the GCB. They work together with Fundashon pa Maneho di Adikshon (FMA) to minimize the risks of gambling addiction within the Curaçao casino industry. By encouraging responsible gaming, the GCB helps protect vulnerable players and maintains a healthy gaming environment.
Regulatory Framework
The GCB maintains a robust regulatory framework to ensure honest, responsible, and competitive gambling practices. This framework is designed to keep the industry crime-free and fair, balancing the interests of both players and operators. It provides clear guidelines and standards for all aspects of gambling operations in Curaçao.
Overall, the Curaçao Gaming Control Board plays an essential role in ensuring the gambling industry operates legally, ethically, and securely. By issuing licenses, supervising operators, enforcing compliance, and promoting responsible gaming, the GCB maintains the stability and integrity of the Curaçao gambling sector.
Application Process
To apply for a Curaçao GCB license, you need to follow a structured process that involves several steps. Here’s a detailed overview of the process:
Fit and Proper Check
With over 500 licenses behind us, we started processing 15 licenses for GCB Curacao within the first 48 hours of the deadline being announced. This gives us an advantage and the opportunity to assess the success of the application even before we start setting up a company.
This is good for our clients because they don’t have to waste time and money. The result? Last year alone, we successfully obtained 152 licenses out of 152 applications. That’s a success rate of 100.
Completion of the first package of documents
To speed up the application process, we put together the first package of documents required to start a business and do the necessary work to hire your Managing Director. By completing this step as quickly as possible, we can save time while preparing the second package of documents required for licensing.
Curacao company setup
At this point, we have all the necessary knowledge, documentation, and other parameters required to set up a company. This usually happens within just one week of starting work. Your company in Curaçao will be incorporated in accordance with all GCB requirements.
Now we get down to business and appoint a director for your company. This is a super important step that often gets overlooked. The Managing Director will sign all your agreements and provide KYC for your counterparties such as payment system providers. Choosing the wrong Managing Director can lead to delays, as it may take weeks to prepare documents, potentially resulting in tens of thousands of euros in losses for businesses that need to move quickly. We provide the best service to ensure that all documents you may need are ready immediately, or within 2-3 days for more complex requirements.
Now that all the variables are known, setting up a company usually takes seven business days, which is very important for companies that want to get to market as quickly as possible.
Licensing process
We work closely with the regulator to speed up the processing of your application and prevent it from getting bogged down in the bureaucratic queue. Thanks to our efficient approach, we can complete the approval process within a few weeks.
However, the license compliance process is now more complex than under the previous regime and it’s critical to maintain control over compliance and promptly handle all regulatory inquiries to ensure a seamless path to the issuance of your license.
Setting Up a Payment Agent Company
Consider the benefits of setting up a payments company, as used by successful companies such as Stake.com and Roobet.com. This strategic tool helps to efficiently manage your business’s financial transactions.
The smart framework provides access to a variety of payment processing solutions and simplifies the setup of crucial bank accounts. In an initial consultation, we’ll identify the most suitable payment agent company tailored to your specific requirements.
Opening your bank account
A bank account is possible after your license has been issued and the setup of a payment company has been properly completed. We speed up the process by obtaining all the necessary documents at the beginning of our work.
To get your website up and running as quickly as possible, at this stage we already have everything you need to go live, including the documentation required to successfully open your bank account and connect payment system providers.
Conclusion
In conclusion, the GCB Curacao license represents a significant advancement in the gaming industry in Curacao, aligning with European standards and enhancing the credibility of Curacao as a licensing jurisdiction. Operators looking to obtain a Curacao online gaming license must be prepared for the increased regulatory requirements, but the benefits far outweigh the challenges.
As we look to the future, the GCB Curacao license is set to become a hallmark of quality and reliability in the online gaming industry. The higher compliance standards and enhanced regulatory framework promise to attract more reputable operators and elevate the overall standard of licensed operators in Curacao.
At License Gentlemen, we offer tailored solutions to simplify the licensing process, empowering platforms to focus on delivering top-notch betting experiences. Whether you wish to acquire a Curacao online gaming license or need guidance on navigating the new regulatory landscape, we are here to support you. Contact us at License Gentlemen for detailed support designed with your platform’s success in mind, ensuring compliance while maximizing the appeal of your betting bonuses. Take action today to secure your place in the future of online gaming in Curacao.
