Remote Gaming License
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Costa Rica Remote Gaming License
Costa Rica is one of the most favorable jurisdictions for obtaining a license for the activities of online casinos, lottery, and other online games.
Costa Rica is a Central American nation located between Nicaragua and Panama. It borders both the Pacific Ocean and the Caribbean Sea. Costa Rica offers many attractive tourist destinations and is a haven for companies that want to play online games, even if this is declining.
Costa Rica is one of the most favorable jurisdictions for obtaining a license for the activities of online casinos, lottery, and other online games. The legislation of Costa Rica does not regulate the activities of online casinos and other companies that provide services in the field of organization and conduct of gambling on the Internet. In this regard, Costa Rica is one of the most attractive jurisdictions in the world for companies that provide virtual gambling services.
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Types of licenses
In this country, there are already hundreds of such companies. All these companies operate on the basis of one of the 2 license types available:
- data processing license, which is issued by the local authority – municipality
- license that provides services in the field of virtual gambling games, which is issued by the National Registry of Costa Rica.
Both licenses allow holders to provide Internet services for the organization and conduct of all gambling games, including card games, roulette, craps, sports betting, betting, bingo, keno, virtual slot machines, and others. In order to obtain a license for any of the aforementioned activities, the applicant must have an office in Costa Rica. The main difference between a data processing license and the virtual gaming license is that the former allows its holder to provide services in the field of gambling games in the real gaming establishments located in the territory of Costa Rica as well as on the Internet, while the second allows us to provide services in the field of gambling games solely on the Internet while providing these services to residents of Costa Rica is prohibited. It is also possible to provide services in the field of virtual gambling games on the basis of a sub-license issued by the holder of a license for the data processing. This sub-license allows its holder to exercise the provision of services for organizing and conducting virtual gambling games only of one kind. Keep in mind that the licenses mentioned above do not entitle their holders to provide services in the field of virtual gambling to residents of those countries where national legislation prohibits, restricts, or regulates in a different way the provision of such services. These countries, for example, include the US, the EU member states, Switzerland, Canada, Russia, and others.
Advantages and disadvantages of having a Costa Rica Gambling License
An advantage of having a Costa Rica gaming license is that their online revenue is coming from other countries, the company can also avoid paying taxes on their profits. And when you consider that no anti-money laundering policies exist for online gaming, it’s easy to see why certain elements might be drawn to the country (especially since more than $140 billion annually is laundered through sports betting around the globe).
There are, however, a few disadvantages to running a gaming business from the jurisdiction of Costa Rica. These include:
- Costa Rican residents cannot be accepted as customers.
- Local banks will not process online gaming transactions.
- Since the nation’s banking industry is largely controlled by the United States, opening a corporate account can be difficult.
Why do we recommend obtaining a license for the organization and conduct of gambling in Costa Rica?
The license in Costa Rica will allow your company to conduct legitimate business in the field of virtual gaming services. The legislation of Costa Rica that regulates the activities of the companies providing gambling services is one of the most liberal in the world. For example, it does not contain stricter requirements regarding the server location of the license-holder, who uses the software. At the same time, terms of registration of the company, the application for a license as well as its cost are very low compared to other jurisdictions. There is no direct indication that the license has been granted to casinos, although, it fits the requirements of the activities of online casinos. Costa Rican license is correctly called “Data Processing”. All this makes Costa Rica one of the most appropriate jurisdictions for the registration of casino companies, lotteries, etc. The Company which obtained a license is a self-regulatory organization and is not taxed on the profits if it does not conduct activities in the territory of Costa Rica. In order to receive a “Data Processing” license, the company must have an actual office in Costa Rica and staff members. For the period of obtaining a license, we provide nominal staff. To obtain a license, a personal presence in Costa Rica is not required.
- Registration of the company in Costa Rica
- Provision of registered address
- Payment of government fees and taxes
- Statement of the company’s tax registration
- Provision of office space
- Provision of the employees
- Opening a bank account
- Assistance in obtaining a merchant account
- Obtaining a license
Term of receiving the license in Costa Rica
Contact Szilaghi Consulting to Get Your Costa Rica Gambling License
For more than 17 years, Szilaghi Consulting has been working with startups, entrepreneurs, and companies already established for online gambling. We have worked all over the world, but we have a special and extensive practice in Costa Rica. During this time, we gained a deep knowledge of the requirements and general obligations of the process of incorporating the company and obtaining a license for gambling in Costa Rica. We have established relationships with industry stakeholders, including authorities, service providers, and other gaming companies. This positions us as market leaders in assisting our customers with Costa Rica licensing goals.
Through our extensive and carefully verified network of contacts in the country, we can ensure that you move efficiently through the entire setup process. We know everything you need to know about requirements, criteria, nuances, and possible obstacles and can help you prevent and navigate whatever comes your way.
To incorporate the company and apply for a gambling license in Costa Rica or just to discuss your plan, vision or options, contact Szilaghi Consulting today.