Why should you get a gambling license in Curacao in 2022?
One might ask, why opt for a Curacao online gambling license?
Why would a Curacao gaming license be chosen over a Malta or Cyprus Gaming license?
Some reasons to think of are:
1. Costs: The Curacao egaming license is still the most cost efficient gaming lisence available worldwide.
Unlike jurisdictions like Malta and Cyprus, who charge you an arm and a leg to incorporate and manage a company, you can get started in Curacao for a fraction of the price.
2. Credibility: A Curacao license adds credibility to your gambling website, for your clients as well as payment providers and financial institutions.
Many banks do not open corporate and merchant accounts for online gambling companies without a license verification during the account opening process.
In order to be granted a Curacao egaming license, a company is properly vetted by Curacao the masterlicense provider.
How do you get a Curacao gaming license?
In order to successfully be granted a gambling license in Curacao, your Curacao company would need to be set up properly and licensed to do business from Curacao:
1. Incorporate an offshore Curacao company with the objective of egaming mentioned in its articles of incorproation;
2. Obtain a registered address in Curacao;
3. Register the company at the Curacao chamber of commerce;
4. Appoint a local legal representative in Curacao that is licensed by the Curacao central bank (like Sadekya);
5. Register the company at the Curacao tax office;
6. Obtain a Businiess and Directors license.
What do you need to apply for a Curacao online gambling license in 2022?
Local requirements for a Curacao egaming license call for the following requirements:
1. a Curacao company with the objective of egaming mentioned in its articles of incorproation;
2. a registered address in Curacao;
3. A registration at the Curacao chamber of commerce;
4. A local legal representative in Curacao that is licensed by the Curacao central bank (like Sadekya);
5. Provide a Proof of Ownership of IP (the website needs to be functional);
6. Provide a signed Software Certification or Signed Software Agreement (in name of the Curacao company);
7. A Business Plan, a broader information and screenshots on the to be provided games and /or betting;
8. Several forms required by the Master license provider.
Let us help you get approved for your Curacao gambling license in under 2 weeks!
Do you need a local director to apply for a Curacao iGaming License?
Our standard recommended board structure consists of two non executive local directors and one foreign executive director.
The majority of the board being in Curacao is to secure attractive low taxation while allowing for the Foreign Executive Managing Director to continue with full control over the daily operation and bank accounts.
The foreign director has the technical knowledge, experience and contacts to manage an online casino. Has the liberty of deciding which games to offer, under what conditions and to whom.
This was the foreign executive director retains full control to enter into agreements, manage day to day operations of the online casino.
As non executive directors, we take care of all the local requirements so that you can focus on what you do best: run your business.
Contact us to see how we can help you set up your licensed Curacao iGaming company in under 3 weeks!
So, what are the disadvantages of getting a license in Curacao?
There are a number of countries in which you are prohibited to offer your egaming services under the Curacao egaming License.
The list of explicitly forbidden territories iinclude the USA, France, The Netherlands, The Dutch Caribbean Islands of Curacao, Aruba, Bonaire, St. Martin, St. Eustatius, and Saba.
If a licensee opts to still market and offer services to these restricted countires, its license can be revoked and a master license holder can add the group to a black list.
Still, the Curacao egaming license remains highly sought after by entrepreneurs looking to set up a licensed egaming company cost efficiently.
Avoid this from happening by booking a FREE egaming pre-approval here.
Click here to speak to our in house Customer Success Officer, Monica Botero in English or Spanish.
What are the online gambling licensing regulations in Curacao?
Right now, in 2022 there are four holders of master licenses in Curacao:
1. Antillephone NV (AP) licensed under Masterlicense number #8048/JAZ
2. Gaming Curacao (GC) licensed under Masterlicense number #365/JAZ
3. Curacao Interactive Licensing N.V. (CIL) licensed under Masterlicense number #5536/JAZ
4. Cyberluck Curacao N.V (Curacao-eGaming) licensed under Masterlicense number #1668/JAZ
At Sadekya we work with 3 out of 4 Curacao eGaming Masterlicense holders.
Most Master license holders require the Curacao Local Legal Representative Agent (like us) to do the Curacao license applications.
Since March 2020, the Curaçao Gaming Control Board (GCB) has been tasked with the licensing for and supervision of the online gaming sector on behalf of the Minister of Finance.
Contact us to see how we can help you set up your licensed Curacao iGaming company in under 3 weeks!
READ OUR BLOG POST: The #1 Mistake To Avoid When Looking To Incorporate A Licensed Curacao Igaming Company
Photo credit: Alex Bello.
