Curacao Gambling License

Szilaghi Consulting offers comprehensive turn-key solutions for those looking to establish their own online casino in the sought-after jurisdiction of Curacao. With our extensive experience and expertise, having obtained over 45 licenses, we are well-equipped to guide you through the process of obtaining the Curacao gaming license and setting up your company.

Our services cover all aspects, including the acquisition of both B2B and B2C Curacao gaming licenses, company formation, bank account setup, legal support, and everything else you need for a successful launch. With over 18 years of experience specifically in Curacao, we have built a strong track record with countless satisfied customers.

By choosing Szilaghi Consulting, you can expect a streamlined process that minimizes both time and costs. In just a matter of weeks, you will be ready to launch your online casino with confidence, knowing that you have a trusted partner by your side.

What sets our service apart from others?

At Szilaghi Consulting, we specialize in providing comprehensive assistance for obtaining your Curacao online casino license, catering to a wide range of e-gaming activities. Our services encompass various options such as sports betting, roulette, popular table games like poker, blackjack, and baccarat, as well as bingo and lottery offerings. We are dedicated to guiding you through the process of establishing the necessary company structure for license registration, ensuring a streamlined and efficient operation. We also recognize the significance of seamless payment processing for your customers. Hence, we offer support in setting up essential payment processing merchant accounts in collaboration with reputable European EMI (Electronic Money Institution) service providers. This enables your casino to facilitate secure deposits and withdrawals, providing a convenient and trustworthy experience for your players. With Szilaghi Consulting as your trusted partner, you can navigate the licensing process with ease and establish a successful online casino in Curacao.

Where is Curacao?

Curaçao is a Dutch Caribbean island located in the southern Caribbean Sea, about 65 kilometers (40 miles) north of the coast of Venezuela. It is part of the Lesser Antilles and is one of the ABC islands (along with Aruba and Bonaire). Located off the coast of Venezuela, Curacao consists of two islands. Curaçao has an area of 444 square kilometers (171 square miles) and a population of around 160,000 people. Its capital and largest city is Willemstad. The other island, known as “Little Curacao”, is empty, except for a lighthouse and diving sites that frequently attract tourists.

Curacao regulated the online gambling situation in 1993, although it became more official with the establishment of the Electronic Gaming Licensing Authority in 1996. The Curacao Gaming Control Board regulated online gambling in the early years, but the Licensing Authority for electronic games in Curacao assumed this responsibility after decentralization, in 2002. Since then, the activity of hosting and licensing gambling on the Internet is a major boost for the nation’s economy.

The Curacao gaming license explained

The Curacao gaming license encompasses two types: master licenses and sub-licenses. Master licenses, which have a validity of 5 years, have been issued by the Minister of Justice only four times since 1996. On the other hand, sub-licenses can be obtained from the owner of a master license and remain valid as long as the corresponding master license is valid. Currently, applications for master licenses are no longer accepted, and only sub-licenses are being issued.

Sub-licenses grant permission for the operation of various forms of gambling activities, including online casinos, slots, sports betting, eSports, lottery, and games of skill and chance. It is worth noting that a single sub-license covers all these game types.

The Curacao gaming license is exclusively available to companies based in Curacao. It is recognized as one of the most cost-effective licenses among established gaming jurisdictions.

At Szilaghi Consulting, we specialize in assisting clients with negotiating the best possible price for a sub-license from a holder of a master license. Please note that acquiring a master license directly from the Curacao Gaming Control Board is currently unavailable as they are not issuing new master licenses currently.

Obtaining a Curacao gaming license in 2023 involves the following steps

1. Curacao Company Incorporation: Set up a company in Curacao as a prerequisite for obtaining the gaming license.
2. Document Submission: Prepare and submit the required license documents, company documents, and paperwork to the relevant authorities. Szilaghi Consulting can assist you in preparing and submitting these documents on your behalf. Specific requirements may vary based on your specifications, and Szilaghi Consulting will provide guidance accordingly.
3. Payment: Make the necessary payments for company formation and license fees as specified by the licensing authorities.
4. Waiting Period: Allow for a processing time of several weeks, typically 4-6 weeks, for the license to be processed and issued.

Once you have obtained the Curacao gaming license, there are additional steps to consider, such as opening bank accounts, setting up merchant accounts, finding an online casino white label solution, establishing a gaming bank account, and implementing marketing strategies. Szilaghi Consulting will assist you in completing these tasks and ensure that all necessary requirements are met.

It’s important to note that the jurisdiction of Curacao is undergoing significant changes to its online gambling licensing regime. The new legislation will require operators to apply for a Master License from the government, and existing sub-licenses will need to be integrated into the new system. The new licensing system will also introduce higher barriers to entry, including an increase in the price of the Master License and more stringent requirements for license holders. These changes are expected to be implemented in September 2023, with a transition period until 2025.

What are the requirements to obtain a Curacao gaming license

The first step towards obtaining a gambling license in Curacao is the onboarding. Through this procedure we establish who you are, where you live, where your funds come from and what you intend to do. You will be asked for a conduct report that certifies the lack of criminal antecedents. You must also provide details of your ability to run the operations of an online gambling company. All this information will be presented to the Curacao authorities.
Each shareholder, director, authorized person, officer, last beneficiary must provide the following documents:

• Proof of Identity: Certified copies of passports for the company’s Ultimate Beneficial Owner(s) (UBOs) and other officers.
• Proof of Address: Recent utility bills (electricity, landline telephone, TV, cable) or bank statements showing the company’s address. Alternatively, official government correspondence with the company’s street address can be provided.
• Bank Reference Letter: An official letter from a bank representative, on the bank’s letterhead, addressed “To whom it may concern.” The letter should include the representative’s name, position, and signature.
• Professional Reference Letter: A reference letter from a registered lawyer or accountant with whom you have had a business relationship for at least two years. The letter should be in English, include the professional’s name, position, and signature.
• Software Agreements: A list of all current gaming software agreements, including the supplier’s name and business address.
• Domain ownership proof.
• Copies of the Terms and Conditions. Must include the underage gaming policy, responsible gaming policies and player KYC policy.

It is important to note that your company is responsible for covering the costs associated with producing these documents, including translation and notarization fees if required.

Szilaghi Consulting will assist you throughout the process and provide guidance on the necessary steps for each specific case.

How to build a reputable presence in the global iGaming industry

• Regulatory Compliance: Ensure that your online gambling business adheres to the regulations set by the Gaming Control Board or relevant government body responsible for enforcing gambling license regulations in your jurisdiction. Compliance demonstrates your commitment to operating within legal frameworks.
• International Collaboration: Consider joining the International Association of Gaming Regulators, a voluntary international standards group. By becoming a member, you can promote cooperation and establish connections with other regulators worldwide, enhancing the efficiency and effectiveness of gaming regulation.
• Licensing in Respected Jurisdictions: Obtain gambling licenses from jurisdictions with well-regarded regulatory frameworks. The reputation of your casino is closely linked to the reputation of the country where it is based. Choosing a jurisdiction with established and respected legislation strengthens your credibility in the industry.
• Strong Regulatory Foundation: Ensure that the gambling licenses issued to your business are supported by robust regulatory legislation within the jurisdiction. This foundation adds credibility and trustworthiness to your operations.

Remember, building a respected presence in the global iGaming industry requires careful consideration of the regulatory environment, international collaboration, and selecting the right jurisdiction for your business.

Curacao’s reputation and influence in the gambling industry

Curacao has established its own gaming authority, the Curacao Gaming Control Board, operating under the authority of the Curacao Minister of Justice. This regulatory body has strong ties with the Netherlands and is widely respected in the online gambling industry. It oversees the licensing requirements for the Curacao gaming license.

Since 2010, Curacao has operated with an independent constitutional government, while still maintaining nominal affiliation with the Kingdom of the Netherlands. This unique status allows Curacao to be part of the EU, despite not being in Europe. As a result, Curacao enjoys several benefits of EU membership without the burden of heavy taxation.

Over 500 companies have already opted for the Curacao betting license, and the demand for it continues to grow. This indicates that choosing Curacao provides an excellent foundation for launching your own internet gaming site. With dedication and effort, you can rise above the competition and establish yourself as a leading player in the thriving market.

Who is eligible to play on an online gaming site licensed in Curacao?

Curacao holds a unique position as it is considered part of the EU under the jurisdiction of the Netherlands. Consequently, most members of the EU have automatic permission to gamble on your site without any restrictions. Additionally, external European countries, including EEC countries, are also permitted to participate.

However, there are currently a few restrictions in place. Players from Curacao itself, Belize, the UK, the USA, and certain EU countries like Germany, France, and the Netherlands are not allowed to access the site.

What is the recommended corporate setup for gambling operators in Curacao?

For gaming companies, there are five essential components that should be in place:

• A company registered in Curacao holding a sublicense for online gambling.
• A bank account that caters to high-risk payment processing companies.
• A merchant account/payment service provider (PSP) specifically designed to optimize i-gaming payment processing.
• Associated EMI (Electronic Money Institution) accounts that facilitate PSP transactions.
• A holding company located within the EU banking domain, serving as the legal entity responsible for establishing and controlling the necessary financial accounts, such as the bank account (though not mandatory), EMI, and merchant/PSP accounts.

What are the tax rates for gambling and corporate entities in Curacao?

Curacao imposes a 0% tax on gross gaming revenue, making it the lowest in the world. Additionally, with our assistance in setting up the ownership corporate structure appropriately, you can establish yourself to pay the minimum tax rate on net corporate profit, which currently stands at just 2%.

Is it possible to obtain banking and payment service services for online casinos based in Curacao?

iGaming companies often face rejection from banks due to their classification as high-risk businesses.

However, Curacao has successfully overcome this obstacle, with nearly 500 companies operating successfully within its jurisdiction. Additionally, as Curacao is nominally part of the EU, European banks view its business operations positively. This presents an opportunity for us to assist you in establishing a corporate banking structure within Europe.

While it falls outside EU taxation regulations, Curacao has been accepted as conforming to the Code of Conduct for business taxation and demonstrates compliance with global standards such as CTF (Counter-Terrorist Financing) and AML (Anti-Money Laundering).

Many igaming operators have faced challenges in finding reliable service providers and merchant account facilities required for credit card transaction processing. However, for those based in Curacao, we can provide expert assistance in obtaining an EU-based payment processing agent that specializes in high-risk merchant account payment processing.

Step-by-Step Guide: Obtaining Your Curacao Gaming License

Here are the steps to obtain a Curacao gaming license, with the assistance of Szilaghi Consulting’s specialist service:

• Incorporate and register a new company in Curacao.
• Incorporate a holding company in the EU for banking and PSP (Payment Service Provider) accounts or utilize an existing company for banking purposes.
• Purchase a sub-license from a Master License holder.
• Register your casino at the Curacao Internet Gaming Association (CIGA).
• Approval typically takes up to six weeks, but Szilaghi Consulting can expedite the process.
• Open EMI (Electronic Money Institution)/Merchant/PSP accounts for payment processing.

To acquire a gaming license in Curacao, operators must submit an application to the Curacao Gaming Control Board (GCB), the regulatory agency overseeing the gaming industry in Curacao. The operator needs to demonstrate financial stability, technical proficiency, and compliance with relevant laws, including anti-money laundering and anti-fraud regulations.

Additionally, operators must renew their licenses periodically and fulfill ongoing reporting and regulatory obligations. The process can be complex, so it is recommended to seek assistance from local legal or regulatory experts to ensure compliance with all requirements.

For obtaining a Curacao betting license, companies must meet criteria such as having a physical presence in Curacao, a clean financial history, and a commitment to fair play and responsible gaming. The application involves submitting required documents, fees, and complying with instructions provided by the government upon approval.

It’s important to note that the legality of online betting varies across jurisdictions, so it’s advisable to consult local authorities regarding specific requirements and regulations.

Curacao eGaming is the independent regulatory body responsible for issuing and overseeing online gaming licenses. Companies seeking a license must fulfill prerequisites like physical presence in Curacao, financial integrity, and dedication to fair play and responsible gaming. Compliance with regulations and regular reporting are mandatory post-licensing.

A CuracaoGambling license is recognized as reputable in many countries. However, online gaming laws vary globally, necessitating compliance with local regulations and seeking guidance from relevant authorities.

To obtain a Curacao casino license, the process involves applying, supporting documents, and fees to the government of Curacao. The government reviews the application, may request additional information, and issues the license if approved. As with other forms of online gaming, it’s essential to consider the specific legal requirements and regulations of the target jurisdiction.

Please note that the legal status of online gaming, casinos, and betting can differ widely between countries, so it’s advisable to consult local authorities to understand jurisdiction-specific requirements and regulations.

Why should you get the Curacao Gambling license from Szilaghi Consulting?

There are several compelling reasons to choose Szilaghi Consulting for your licensing needs:

1. Extensive Experience: With a track record of obtaining hundreds of Curaçao casino licenses for our clients, we possess in-depth knowledge and expertise in the gaming consultancy industry.
2. Longevity: With 18 years of experience in the field, we have established ourselves as a trusted and reliable partner for businesses seeking licensing solutions.
3. Efficient Process: Our streamlined approach ensures a swift licensing process, typically completed within just 2-3 weeks, allowing you to launch your operations promptly.
4. Cost-Effective Solutions: We have the capability to negotiate favorable Curaçao gaming license fees on your behalf, helping you minimize costs without compromising on quality.
5. Simplified Process: Our goal is to provide you with a smooth and straightforward experience. We handle the complexities and intricacies of the licensing process, alleviating any potential hassles for you.
6. Comprehensive Solutions: As a full turnkey solution provider, we offer end-to-end support. From assisting with the opening of bank accounts to facilitating payment service providers, we ensure all your licensing needs are met.
7. Dedicated Account Manager: We assign a dedicated professional account manager to personally guide you through the entire licensing process, offering personalized assistance and addressing any queries or concerns you may have.

When you choose Szilaghi Consulting, you can rely on our expertise, efficiency, and commitment to delivering a hassle-free licensing experience for your online gaming business.

Our Curacao Gambling Services

• Incorporation of a Curacao company;
• Acquiring a gambling license;
• Registration for e-Zone status (2% corporate tax) for the iGaming company;
• e-Zone registered address;
• Provision of local Managing Director for the iGaming Company;
• Provision of Nominee Shareholder and Director;
• Co-location and Hosting Facilities with adequate bandwidth and redundancy in the e-Zone;
• Compliance services – compliance for specific data, application services, IP traffic, contributing remote services, and events. Compliance may be achieved via our Global IP compliance services, consisting of global remote IP compliance services, dedicated servers, co-location, VPS, cloud servers, data storage services, and hosting;
• Custom solutions – including dedicated servers, VPS servers, private cloud servers, global IP compliance services, cloud data storage, hosting, single-unit rack space, or high capacity private racks in our worldwide private network locations. Our partners’ compliance services and data centers are strategically located worldwide providing licensees with turnkey compliance-ready solutions, optimal performance, and geographic control for maximized delivery of worldwide services. Its core compliance services data centre and centralized hub of our global operations and IP compliance services is located and operated from within the Curaçao Government E-zone. This is the centralized location where all the major International Submarine Fiber-Optic Cable Systems terminate in Curaçao.

Other Services under the Curacao Gambling License

The following are some examples of other services that can be considered for operation under the Curaçao iGaming license:

• Common Platform Service Provider;
• Integrator/Services Provider/Operator;
• BackOffice, Registration Management and Services;
• Brokerage, Agent Services;
• Relay or IN-Path event or logic services;
• Backup services or Disaster Recovery.

---