For years, the Curacao gaming license has been a preferred option for operators launching offshore casino businesses. It offers a comprehensive, cost-effective solution covering all gaming verticals under a single license. However, significant changes are on the horizon with the upcoming National Ordinance for Games of Chance (LOK) that will transform the licensing regime.
Step-by-Step Guide to Obtaining a Curacao Gaming License
Initial Steps
- Company Registration: Secure a company registration certificate from the Chamber of Commerce of the Antilles. This involves submitting identity documents, proof of address, bank recommendations, and income information.
- Application: Submit a detailed application outlining company activities and software, including third-party certification of Random Number Generators for casino games. Provide personal documents for all authorized individuals.
- Local Representation and Hosting: Establish a physical address in Curacao and appoint a local representative. Ensure at least one server is located in the country.
- Fees: Pay the required licensing fees.
Compliance Requirements
- Player Protection: Implement measures to protect underage and restricted territory individuals. Adhere to responsible gaming practices.
- AML and Technical Audits: Conduct Anti-Money Laundering procedures and technical audits of gaming systems.
- Game and Website Documentation: Provide comprehensive game descriptions, website rules, and privacy policies. Establish domain ownership.
Types of Curacao Gaming Licenses
Curacao offers various licenses for different types of gambling, including:
- Online Gaming
- Land-based Casinos
- Bingo
- Lotteries
Licenses are categorized into master licenses and sub-licenses, with only four master license holders: Cyberluck Curacao N.V., Gaming Curacao, Curacao Interactive Licensing N.V., and Antillephone NV.
Changes Under the National Ordinance for Games of Chance (LOK)
The LOK, effective September 2024, will overhaul the licensing system. Key changes include:
- Discontinuation of Master and Sub-Licenses: The new system will categorize licenses into B2C (operators) and B2B (suppliers).
- New Licensing Authority: The Curacao Gaming Authority (CGA) will replace the current Gaming Control Board.
- New Fee Structure: B2C application fee of approximately €4,000 and an annual fee of €12,000. Each operational URL will incur a monthly fee of €250.
Advantages of a Curacao Gaming License
- Low Tax Rates: Only 2% corporate tax and 0% tax on casino profits.
- Fast Product Rollout: Licensing process completion in about two months.
- Cost-Effectiveness: License costs around 20,000 euros, covering all gaming activities.
- Single License Coverage: One license for all gaming verticals.
- Seamless Licensing Procedure: Simplified application process.
- Suitable for All Operators: Benefits both seasoned operators and startups.
Conclusion
Despite the upcoming regulatory changes, the Curacao gaming license remains an attractive option due to its low tax rates, comprehensive coverage, and streamlined application process.