Curacao Gambling License

Curacao stands out among active jurisdictions, offering favorable conditions for online gambling ventures. Entrepreneurs opt for Curacao due to various reasons, primarily because online casinos in Curacao must acquire a mandatory license, validating the stability and reliability of such gaming providers.

Benefits of a Curacao Gambling License

Curacao embodies a modern business environment with excellent infrastructure, telecommunications, and internet facilities. Moreover, it guarantees reliable financial services and an attractive legal system. The process of establishing a licensed gambling company involves minimal bureaucracy and, most importantly, swiftness.

Tax Environment

The tax system is highly competitive and aligns with international standards. In the e-zone, companies are subject to a 2% tax applied to net profits, while gross gaming revenue remains tax-exempt. Additionally, there is an exemption from VAT.

Payment Options

With a Curacao gambling license, access secure payment methods such as credit and debit cards, cheque deposits, and cryptocurrencies. Through cryptocurrencies, operators can bypass commissions.

Technical Requirements

Licensees of gambling activities can utilize beta-tested slots and RNGs.

Entrepreneurial Freedom

Novices can test their business ideas in a regulated environment before operating in stricter jurisdictions. You can reinvest more funds in business development, game expansion, and product diversification without the need for multiple licenses.

Overview of Curacao Gambling Rules

The Curacao Gaming Control Board (GCB) oversees land-based casinos, lotteries, charitable bingo, and online gaming operators, ensuring compliance with anti-money laundering and counter-terrorism financing rules. The aim is to maintain stability, integrity, and public interests in the industry, fostering fair and competitive gambling practices.

Applicable Legislation and Rules

• National Casino Sector Decree Curacao (AB 1999, No. 97) – Land-based casinos
• Lottery Decree 1909 (AB 1965, No. 85, zg) – Numerical lotteries
• Commodities Lottery Decree 1909 – Commodity lotteries
• National Hazard Games II 1988 – Bingo, Bone Ku Ne, and others.
• National Lottery Act 1949 – National lottery
• National Internet Gaming Act (PB 1993, No. 63) – Online gaming
• National Identification Services Decree (LID)
• National Reporting on Unusual Transactions Decree (LMOT)
• Anti-Money Laundering and Counter-Terrorism Financing Regulation 2016
• Card Game Regulation 2016
• Live Bingo Operations Rules 2016
• GCB – Sports Betting License Regulation, 2013
• GCB – Responsible Gaming Guidelines, 2012
• AML/CTF Rules

Detailed customer identification and comprehensive checks Policy on unusual transactions Appointment of compliance officer Establishment of other relevant processes and requirements

Top management of each casino must issue a policy statement committing to combat money laundering and terrorist financing, enhancing trust in the industry and jurisdiction to boost business success. The Ministry of Finance and the Financial Intelligence Unit also oversee the gambling industry.

License Functions

There are two types of gambling licenses – master license and sub-license:

Master License:

Valid for five years Allows all gambling activities Enables the issuance of sub-licenses Not available for new applicants Sub-License:

Permits all gambling activities Valid as long as the associated Master License is valid Master License holders (authorized since 1996):

Antillephone NV #8048/JAZ Curacao Interactive Licensing NV (CIL) #5536/JAZ Cyberluck Curacao NV (Curacao eGaming) #1668/JAZ Gaming Curacao #365/JAZ

Consumer Protection Policy:

Master licensees have individual consumer protection policies. Antillephone NV is considered the most reliable and innovative cryptocurrency payment method.

Advantages of a Curacao Gambling License:

Procure software from leading manufacturers. Integrate individual payment systems for various transactions. Gain customer trust by signaling the ability to pay out winnings.

Changes (post September 1, 2023) The Gaming Control Board of Curaçao (GCB) has implemented a groundbreaking approach to licensing, creating an enticing opportunity for potential investors. As of now, new Curaçao gambling licenses will be exclusively granted to operators, excluding sublicenses.

New license holders are strictly prohibited from issuing sublicenses, ensuring adherence to heightened industry standards. The National Decree on Gambling (LOK) has undergone extensive reforms, signaling a lucrative shift in the market.

Emphasizing the need for integrity, the establishment of the Curaçao Gaming Authority aims to fortify the industry against illicit activities. Finance Minister Javier Silvania has underscored the transparency of funding sources, providing peace of mind for investors.

It’s imperative for operators to align with reputable jurisdictions and international laws to secure their investments. Prior to the law’s enactment on September 1, the Advisory Council reviewed the LOK, reaffirming Curaçao’s commitment to excellence.

With Curaçao’s strategic reforms and its dedication to transparency, investing in the gambling industry here promises not only profitability but also ethical business practices. Don’t miss out on this opportunity to be part of a thriving and responsible gambling market.

Unlock the potential of your online gambling venture with a Curacao gambling license from Taurus Legal Group. Contact us today to embark on your journey to success!