To choose the perfect jurisdiction for gambling initiation, you need to consider a lot of things, such as licensing costs, tax, stability, and the general business environment. Although many entrepreneurs will automatically think of conventional locations such as the UK, the Isle of Man, or Malta, there are other licensing jurisdictions, but the benefits and stakes vary considerably.
With over 17 years of gambling experience, Szilaghi Consulting recommends that you opt for a jurisdiction such as Curacao for a gaming license. This is an excellent solution for startups or entrepreneurs who want to test a new concept or a new platform. We advise all our customers at the beginning of the road to first obtain a Curacao gaming license due to lower licensing costs.
As a general rule, the Curacao license is optimal for start-ups, as it is cost-effective and requires little bureaucracy and paperwork to obtain. It can also be purchased faster than other online gambling jurisdictions.
Curacao has some of the best tax incentives on offer, with 0% payable for all online gambling revenue and a zero VAT rate. There are also no sales taxes, import taxes, gross betting taxes, and restrictions on withdrawing dividends.
Why do you need a license?
Anyone who wants to operate any kind of online gambling platform is required to have a license. This license must be issued by the authority of the jurisdiction in which the platform is located. Holding a license is a legal requirement and also allows you to open settlement accounts, use third-party payment processors, and contract with game providers. In addition, you will gain credibility and trust in your customers.
To set up an online gambling platform, you are required to have a license. It must be issued by the gambling authority in that jurisdiction. Obtaining a gambling license allows you to hire game providers, use secure payment processors, open bank accounts, and increase your customers’ trust.
Requirements for obtaining a gambling license in Curacao
To obtain a gambling license in Curacao, each applicant must provide the following documents: identity documents, utility bills, letters of reference from the banker, accountant, or lawyer, and criminal record. All these documents must demonstrate that an applicant is a person with appropriate behavior who is fit to operate gambling.
The applicant must also provide proof of ownership of the domain, responsible gaming policies, AML policies, and copies of all software agreements. Details of the third-party random number generator certificate must also be provided.
Types of license
Curacao is one of the first jurisdictions in the world to start issuing a gambling license since 1996. The Curacao Licensing Authority issues a single license covering all types of online gambling. This license also covers service providers, software providers, and those who provide products to online casinos, slots, sports betting, eSports betting, lottery, and games of skill and chance.
This makes applying for a license relatively easy, as there is only one application process to complete.
Take it fast
The Curacao gaming license is one of the fastest and easiest to obtain. The procedure is simple, the amount of documents required is limited and if everything is in order, the license can be issued in just a few weeks.
Thus, as a startup or entrepreneur, you can start a business in just a few short weeks.
License fees
Curacao currently offers one of the most cost-effective licenses available on the gambling market. Szilaghi Consulting offers you a package tailored to your needs that includes the configuration of corporate structures, bank accounts, payment processors, and the entire license application process. This package has competitive prices, and annual and renewal fees are also low and, most importantly, constant.
This means that start-up operators can use most of their capital to develop products, software, websites, and marketing.
Taxes and fees
Authorized gambling operators in Curacao benefit from a 0% profit tax and a VAT rate of 0%. Online gambling operators in Curacao can enjoy a rate of 0% VAT and 0% of companies’ revenues. There are also no sales taxes, import taxes, gross betting taxes, and no restrictions on the withdrawal of dividends. This is extremely important for start-ups that need to be kept within a budget.
Maintaining low costs during the installation phase and the first years of operation is essential for the success of smaller companies. The funds saved can be reintroduced into the business or used to apply for additional licenses in the future.
If you are looking for a fast, simple, stress-free, cost-effective, and tax-free licensing option that is still compliant with your online gambling company, Curacao is the jurisdiction for you. more about licensing Curacao or just to discuss your plans and vision, contact us today. We have over 17 years of experience helping people like you and we are here and ready to talk.
Contact Szilaghi Consulting to Get Your Curacao 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 Curacao. During this time, I gained a deep knowledge of the requirements and general obligations of the process of incorporating the company and obtaining a license for gambling in Curacao. 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 Curacao 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 Curacao or just to discuss your plan, vision or options, contact Szilaghi Consulting today.
