Curacao Gaming License
Curacao's licensing process has been revamped and improved. These changes aim to build player trust in online gambling while expanding market opportunities for operators.
New rules place greater emphasis on security and transparency, ultimately benefitting players. Furthermore, getting a Curacao gaming license has also become more affordable and accessible.
Streamlined Application Process
Curacao licenses provide operators's with an ideal way to offer an array of gambling games. While other licensing jurisdictions require separate add-on licenses for slots, sports betting, lottery games and live casino gaming; with Curacao licensing all of these activities can be experienced under one single license.
Curacao Gaming License applications are relatively straightforward and typically require few documents than other licenses; however, periodic maintenance and compliance are still necessary in order to remain compliant. Annual reports, AML/KYC policies and updated RNG certifications must all be submitted annually as well as other requirements.
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Enhanced Player Protection
Curacao Gaming Licenses offer numerous advantages, such as providing global iGaming services without legal entanglements. Unfortunately, as more countries regulate iGaming industries it can be challenging to remain compliant and stay abreast of changing requirements and stay competitive.
To obtain a Curacao Gaming License, operators must establish a legal entity in Curacao and open an office there. They then need to compile documents such as incorporation papers, business plans and data on owners and key persons as well as comprehensive policies regarding responsible gaming and data security.
B2B gambling licenses are suitable for companies that provide gambling services directly to businesses, while a B2C licence allows operators to offer classic casino games and sports betting directly to players. Both licenses must adhere to anti-money laundering/countering the financing of terrorism regulations as well as responsible gaming standards implemented during operations that must be regularly audited as well as KYC/CDD processes in place for customers who visit them directly.
Increased Regulatory Oversight
Curacao stands out as a gaming licensing jurisdiction by providing strict regulatory oversight that includes technical and security audits that ensure players are protected while gambling operations take place responsibly.
Due diligence and background checks are conducted on owners and directors to verify their identities in order to prevent money laundering, terrorist funding, or any other unlawful activities from taking place.
Curacao taxes profits derived from legal gambling activities at a significantly reduced tax rate compared to most other jurisdictions; however, this does not exempt them from being subject to economic substance and/or permanent establishment rules.
Increased Taxes
Curacao remains one of the most cost-effective and accessible licensing environments for iGaming operators despite recent reforms, offering affordable tax rates, an exemption from VAT on gaming revenues, as well as international payment processing solutions.
These benefits do come at a cost. As the regulatory framework develops, future applicants should anticipate higher due diligence fees and more complex corporate structures; additionally, the new license structure requires physical presence on the island with an appointed local representative.
Tetra Consultants can assist online casino operators looking to establish trust with their players with a Curacao gambling license, from initial planning stages through ongoing compliance requirements and tax and accounting obligations monitoring, to ensure you don't waste resources or resources unnecessarily.
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