Curacao Gaming License

Securing a Curacao Gaming License becomes a seamless process when you enlist the expert assistance of Fionza Consultants. Our seasoned team of licensing specialists is dedicated to providing precise guidance on navigating the application procedure and complying with Curacao’s gaming license regulations.

Curacao

Company Registration – 2 Week
Local Director? – No
Bank Account Opening – 4 Weeks
Travel Required – No

Curacao Gaming License

Acquiring a Curacao gaming license can be a streamlined process with the expert assistance of Fionza Consultants. Curacao, situated in the Caribbean and part of the Kingdom of the Netherlands, offers a favorable environment for businesses across various sectors, including shipping, oil refining, international trade, and banking. The island’s vibrant lifestyle, warm climate, and booming tourism industry, along with its thriving e-commerce sector, notably in iGaming, contribute significantly to its GDP.

Curacao boasts a distinguished history in the iGaming industry, with the National Law on Offshore Games of Chance enacted in 1993, paving the way for online gambling. Licensing of online gaming companies began in 1996. With its efficiency and business-friendly tax rates, Curacao has emerged as a sought-after hub for offshore businesses, particularly online gaming enterprises.

In 2019, the Curacao Gaming Control Board assumed the role of the AML-CFT (anti-money laundering and counter-terrorism financing) supervisor for all gaming activities within or originating from Curacao, including online gambling. Additionally, the Ministry of Finance and the Financial Intelligence Unit (FIU), previously known as the Unusual Transactions Reporting Center, oversee internet gaming. Curacao operates on a multi-licensing system, offering various types of licenses to accommodate diverse needs, rather than a single regulatory framework.

Fionza Consultants, an international consultancy firm, specializes in guiding international clients through the process of obtaining a Curacao gaming license. Our comprehensive services encompass securing a Curacao gaming license, establishing a Curacao company, opening a corporate bank account, legal support, and all other essential services necessary for the seamless operation of your gaming venture in Curacao. Leveraging our team of licensing experts’ vast experience, you can confidently navigate the licensing and corporate establishment procedures when establishing your online casino in this highly sought-after jurisdiction of Curacao.

Advantages of obtaining a Curacao Gaming License

Securing an online gaming license from Curacao offers numerous compelling advantages for online gaming companies. Here are some key benefits:

Global Recognition and Trustworthiness: Curacao’s gaming license is highly regarded globally, instilling trust and legality in online gambling operations. This reputation can attract a broader customer base.
Tax Advantages: Curacao provides a tax framework that is exceptionally favorable to online gaming enterprises. These companies typically pay only 0-4% of their net income in taxes, significantly lower than in many other regulatory jurisdictions.
Cost-Effective Licensing: Obtaining a Curacao gaming license is cost-effective in comparison to other licensing locations. The application process is straightforward, and the associated fees are generally more affordable.
Efficient Application Process: The application process for a Curacao gaming license is streamlined and can be completed within weeks. This simplicity is especially advantageous for smaller gaming businesses that may lack resources to navigate complex legal procedures.
Regulatory Flexibility: Curacao’s regulatory environment is adaptable and aligns with the interests of online gaming enterprises. This flexibility allows gaming companies to adjust their business activities to match their preferred business model.
Access to Payment Processing: Online gaming companies holding a Curacao gaming license have access to a variety of payment processing services. This simplifies financial transactions for their customers.
Geographic Convenience: Curacao is located in the Atlantic Time Zone, strategically beneficial for businesses operating in both Europe and the Americas. Additionally, being an English and Dutch-speaking jurisdiction facilitates smoother communication with the government and clientele.

Securing a Curacao gaming license is a strategic move that can help online gaming companies thrive in a competitive market while enjoying favorable financial, operational, and regulatory conditions.

Issuing authority of a Curacao Gaming License

The Curacao Gaming Control Board (GCB) is the governing body responsible for gaming regulation in Curacao. Established in 1999, the GCB oversees and supervises gaming activities both within and outside Curacao. Originally created to regulate the land-based casino industry and issue licenses for lotteries and charity bingos, its role has expanded to include the oversight of Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) measures for all gaming, including online gaming.

Previously, the Curacao e-Gaming Licensing Authority held jurisdiction over the online gambling industry since 2002. However, on December 18, 2018, the Minister of Finance announced the government’s intention to entrust the regulation of the online gaming sector to the Curacao Gaming Control Board (GCB). This transition was formalized on February 15, 2019, when the GCB was appointed as the AML/CFT inspector for all gaming sectors operating within and from Curacao, including online gaming.

The primary objective of the Gaming Control Board is to safeguard the public interest and ensure the stability of the Curacao gaming sector. They achieve this by enforcing ethical and transparent gaming practices while eliminating illegal and fraudulent activities from the industry.

Laws governing the issuance of a Curacao Gaming License

Curacao has a long history of regulating the online gaming industry, dating back to 1993 when it enacted some of the world’s earliest statutes for this purpose. In 1996, the government established the Gambling Licensing Authority, responsible for granting licenses and overseeing the sector. The issuance of the first license increased Curacao’s appeal as an online gambling licensing jurisdiction, leading to further developments in related laws.

To ensure adherence to legal frameworks and standards of conduct, the Curacao Internet Gaming Association (CIGA) was formed in 2001, promoting a responsible gaming environment. Today, Curacao stands as a prominent global hub for online gaming registration. Its attractiveness is attributed to its minimal licensing requirements and straightforward procurement process. Additionally, the presence of a robust financial services industry, well-developed internet infrastructure, and political and economic stability further solidify its status as a preferred destination for iGaming entrepreneurs worldwide. Notably, Curacao maintains a reputation as a “tax haven” while adhering to international tax standards, including the EU Code of Conduct.

The regulatory framework governing online gaming licenses in Curacao is anchored in the National Ordinance Offshore Games of Hazard (OOGH), enacted in 1996. This legislation aimed to regulate the burgeoning offshore gaming sector and establish a legal foundation for online gaming. Subsequent updates in 2001 and 2014 reinforced the regulatory framework, imposing stricter requirements on gaming operators, such as the necessity for a physical presence on the island and robust anti-money laundering (AML) and counter-terrorism financing (CTF) programs.

The Curacao Internet Gaming Association (CIGA) plays a pivotal role in representing the interests of the online gaming industry and collaborating with the government and regulatory authorities to maintain an up-to-date and effective regulatory environment.

The modern licensing regime classifies gaming licenses into several types, including Master License, Sublicense, IP License, Hosting License, B2B License, and B2C License, providing flexibility for gaming businesses. The Curacao gaming board is presently responsible for issuing and regulating online gaming licenses, continuously adapting the regulatory framework to keep pace with industry developments and safeguard player interests.

To obtain a gaming license in Curacao, companies must meet specific criteria, including physical presence on the island, robust AML and CTF measures, secure and audited gaming platforms, transparency, player fund and data protection, and financial stability.

In conclusion, Curacao’s regulatory framework for online gaming licenses prioritizes fairness, transparency, and player protection while accommodating the needs of gaming businesses. This business-friendly environment, coupled with its strategic advantages, has solidified Curacao’s position as a global leader in the online gaming industry.

Types of Curacao Gaming Licenses

Curacao has emerged as a sought-after jurisdiction for online gaming companies seeking licenses for their operations. The licensing options in Curacao come in two primary forms:

Master License: This license grants the holder the authority to operate and offer a comprehensive range of online gambling and gaming services to players worldwide. It allows for a broad spectrum of offerings, encompassing sports betting, casino games, poker, lotteries, and more. Obtained directly from the Curacao eGaming Licensing Authority, this license empowers the holder to operate independently.
Sub-License: A sub-license is acquired through a partnership arrangement with a Master License holder. It permits the sub-licensee to provide a specific category of online gaming service, such as sports betting or casino games, while operating under the umbrella of the Master License holder. Sub-licensees leverage the gaming platform and infrastructure of the Master License holder for their specialized gaming service. However, their operational scope is limited to the designated service.

In essence, a sublicense functions as a subsidiary license derived from a Master License. It allows the sublicense holder to function within the framework established by the Master License holder. Typically, sublicense holders are smaller operators or specialized service providers that collaborate with larger entities holding the Master License.

The principal distinction between a Master License and a sublicense lies in the degree of autonomy and the extent of gaming services that can be offered by the licensee. Master license holders enjoy a broader spectrum of operations and can provide a wider array of gaming services. Conversely, sublicense holders are confined to the specific gaming service authorized by the Master License holder.

Both Master and Sub-Licenses are issued by the Curacao eGaming Licensing Authority, responsible for regulating and overseeing the online gaming industry in Curacao. The licensing process necessitates meeting specific criteria, including demonstrating financial stability, showcasing technical capabilities to manage an online gaming business, and undergoing thorough background assessments.

What are the activities allowed under a Curacao gaming license?

A Curacao online gaming license offers licensees the flexibility to provide a diverse array of online gaming services to a global player base. The scope of services available under a Curacao online gaming license may vary based on the type of license acquired, but typically encompasses the following:

Gaming Software: Licensees are empowered to develop and distribute gaming software, encompassing offerings such as casino games, poker software, and sports betting platforms.
Payment Processing: Licensees have the capability to manage financial transactions associated with online gaming, including deposit and withdrawal processes.
Hosting Services: Licensees can provide hosting services for online gaming platforms and websites, ensuring the smooth operation of gaming websites.
Affiliate Marketing: Licensees can engage in affiliate marketing programs to promote their online gaming services, expanding their reach through strategic partnerships.
White Label Solutions: Licensees are equipped to offer turnkey solutions for online gaming operators. This includes services like website design, software integration, and customer support, facilitating the establishment and operation of online gaming businesses.
Regulatory Consulting: Licensees may offer consulting services focused on regulatory compliance and licensing requirements tailored to the needs of online gaming operators.

It’s crucial to acknowledge that the specific services enabled by a Curacao online gaming license can be contingent on the type of license obtained and the parameters set by the licensing authority. License holders bear the responsibility of ensuring full compliance with local laws and regulations governing online gaming. This encompasses adherence to tax regulations, safeguarding consumer rights, and protecting sensitive data, all of which are essential components of operating a reputable online gaming business.

Regulatory requirements for applying for a Curacao Gaming License

Obtaining a Curacao gaming license involves meeting a comprehensive set of requirements to ensure the responsible and secure operation of online gaming services. These prerequisites, mandated by the Curacao eGaming Licensing Authority, are in place to safeguard players and uphold industry standards. Fionza Consultants, a team of licensing experts, possesses hands-on experience in guiding clients through the Curacao gaming license application process, providing up-to-date insights into regulatory demands and resource necessities. This proactive approach aims to prevent potential rejections by the authorities.

Key regulatory requirements for obtaining a Curacao online gaming license encompass:

Curacao Company Incorporation: The entity pursuing a gaming license must be registered in Curacao and maintain a physical presence in the country. Corporate structures may vary based on the license type and authorized operational scope.
Capital Requirements: While Curacao’s gaming authority doesn’t specify a minimum capital amount, having sufficient funds, typically around US$5,000, is advisable to ensure smooth business operations.
Board of Directors: Companies must establish a Board of Directors responsible for overall management. While a local director isn’t mandatory, having a nominee director in Curacao is recommended for representation during the license application process.
Shareholders: Companies should have shareholders of any nationality who hold ownership stakes in the company.
Compliance Officer: Appointing a compliance officer, regardless of nationality, is necessary to oversee adherence to local laws and regulations related to online gaming.
Technical Team: A technical team is essential for developing and maintaining the technical infrastructure required for online gaming operations.
Registered Office: A physical office in Curacao with adequate staffing and infrastructure to support online gaming operations is mandatory.
Local Agent: A local agent in Curacao, authorized to act on behalf of the company and ensure compliance with local gaming laws and regulations, is required.

Additional operating requirements encompass:

System Measures: Maintaining relevant gaming procedures and systems to align with regulatory changes and protect user interests.
Anti-Fraud Measures: Implementation of measures to prevent fraudulent transactions and safeguard players from financial losses.
Compliance with Local Laws: Strict adherence to all local laws and regulations related to online gaming, including tax laws, consumer protection, data privacy, and financial reporting.
Operational Funds: Maintaining sufficient operational funds to support online gaming operations.
Technical Infrastructure: Provision of a secure and reliable technical infrastructure, including servers and data centers.
Gaming Software: Utilization of gaming software meeting the standards outlined by the Curacao eGaming Licensing Authority.
Know Your Customer (KYC) Procedures: Establishment of adequate KYC procedures to verify player identity and age.
Anti-Money Laundering (AML) Procedures: Implementation of robust AML procedures to prevent money laundering and financial crimes.
Player Protection Measures: Introduction of measures for responsible gaming, dispute resolution, and financial protection for players.

Banking and payment procedure requirements include:

Bank Account: A Curacao-based bank account for all financial transactions related to gaming operations.
Payment Processing: Reliable payment processing systems to facilitate deposits and withdrawals.
Payment Methods: Offering diverse payment methods to players, including credit cards, e-wallets, and bank transfers.
Secure Payment Processing: Ensuring secure payment processing with encryption and other security measures to protect player data and financial information.

It’s crucial to note that corporate structures and residency requirements may vary based on the license type and operational scope. Aspiring Curacao gaming license applicants are encouraged to consult with Fionza Consultants, experts in licensing and regulatory matters, to ensure full compliance with all necessary prerequisites.

Documents required to apply for a Curacao Gaming License

When applying for a gaming license in Curacao, entities must diligently prepare two sets of documents: one for each director, shareholder, and beneficiary, and another for the company itself. The specific document requirements may vary based on the type of license sought and the extent of operations permitted by the licensing authority. Nevertheless, here are the essential document categories:

Personal Documents for Directors, Shareholders, and Beneficial Owners:

Copy of Valid International Passport: Each director, shareholder, and beneficial owner must provide a copy of their valid international passport.
Confirmation of the Legality of Funds: Shareholders and beneficiaries are required to furnish documentation confirming the legal source of their funds.
Certificate of Non-Conviction: Applicants must supply a certificate affirming their lack of criminal convictions.
Copy of Utility Bill: A copy of a utility bill, no more than three months old, serves as proof of residential address.
CV/Resume and Letters of Recommendation: Comprehensive CVs/resumes and letters of recommendation, such as those from banks or employers, are typically requested.

Corporate Documents:

The specific documents necessary for a Curacao gaming license application may vary based on license type and operational scope. However, these are general requirements:

Certificate of Incorporation: Proof of the company’s incorporation or registration as a legal entity.
Business Plan: A comprehensive business plan outlining gaming activities, target markets, and marketing strategies.
Corporate Structure: Details of the corporate structure, including names and particulars of all directors and shareholders.
Financial Statements: Financial statements demonstrating financial stability and the ability to support gaming operations.
Technical Details: Technical specifications of the gaming software and hardware used in the gaming platform.
Gaming Licenses: Information regarding any prior or current gaming licenses held.
Anti-Money Laundering (AML) Policy: An AML policy delineating procedures for detecting and preventing money laundering and terrorist financing.
Know Your Customer (KYC) Policy: A KYC policy outlining procedures for player identity verification and age verification.
Responsible Gaming Policy: A responsible gaming policy elucidating measures for preventing problem gambling.
Privacy Policy: A privacy policy articulating data protection and privacy procedures for player data.
Payment Processing Procedures: Details of payment processing procedures, encompassing accepted payment methods and security measures.
Technical Certifications: Certifications for gaming software and hardware from independent testing agencies.

These requirements provide a comprehensive framework for the Curacao gaming license application process. It is imperative to engage with a reputable regulatory consultant to ensure that all essential documents are meticulously prepared and submitted to the licensing authority. Such consultation aids in a smoother application process and a higher likelihood of approval.

Procedure to apply for a Curacao Gaming License

The Curacao gaming license registration procedure is a strict mechanism designed to ensure that operators adhere to the requirements set out by the Curacao eGaming Licensing Authority. By obtaining a gaming license in Curacao, operators may have access to a reputable and well-regulated gaming sector, as well as lower taxes and a favorable business environment. Operators that wish to launch an online gaming business should thus consider applying for a gaming license in Curacao.
It takes a certain sequence of activities, including the registration of an entity to get a gaming license in Curacao. If you have the assistance of knowledgeable professionals like Fionza Consultants’ team of experts in the fields of international law and licensing, you can comprehend the complexities and subtleties of fixing this issue more quickly.

Step 1: Curacao company incorporation

If you are interested in a Curacao gaming license, the first and foremost requirement for obtaining it is the registration of a legal entity in this jurisdiction. The most preferred form of legal entity for a Curacao gaming license depends on various factors, such as the scope of operations, management structure, liability protection, tax considerations, and regulatory requirements. However, the most common and popular form of legal entity for a Curacao gaming license is a Limited Liability Company (LLC).
An LLC is preferred by many gaming companies due to its flexible management structure, limited liability protection for its members, and simplified tax reporting requirements. Additionally, an LLC can be formed relatively quickly and easily, making it an attractive option for startups and small gaming companies. However, it is important to enlist the help of experts to determine the most appropriate form of legal entity for a Curacao gaming license, based on the specific needs and circumstances of the gaming company.
Fionza Consultants team of business setup experts assist with the registration of local entities with the Curaçao Chamber of Commerce & Industry by providing services with respect to the provision of registered address, local agent/company secretary, and/or local nominee director (if required). All in all, we expect to complete the entity registration within 2 weeks.

Step 2: Corporate bank account opening

Fionza Consultants will proceed with the process of corporate bank account opening with a reputable banking institution. The minimum paid-up capital mandated to secure the license will be deposited into this bank account.
You can leverage our vast banking network as well as rely on our banking team to secure a corporate bank account within a period of 4 weeks.

Step 3: Preparation of documents for the Curacao gaming license application

Fionza Consultants’ legal experts will draft the required documents for the licensing application. These documents will include a detailed business plan with details of the games, rules, terms, and conditions, as well as software systems, financial statements, and other documents such as AML/CFT policies, as required by local regulations.
After the documents have been drafted for review, Fionza Consultants will deliver the prototypes. We will then send them to you for e-signature before moving forward with your license application.

Step 4: Meeting local economic substance requirements

Fionza Consultants will assist you in meeting the requirements of the local regulator, such as having economic substance including a local registered address, and approved qualified candidates, for example, for the post of Compliance Officer. Our team can also assist with the hiring of qualified local employees.
Shortlisting and initial interviews for key personnel, including the compliance officer, will be conducted by Fionza Consultants’ HR team. After that, you can compress down the final list of candidates to recognize who is the best fit for the team. Fionza Consultants will assist in the preparation of a contract of employment with the agreed-upon terms and conditions once the candidate has been selected.
In addition, our team will compile a list of physical offices and send it to you. We will include important factors like monthly rental, location, and size so you can figure out which one is best for you. Fionza Consultants will prepare the rental agreement for you and the landlord to sign once the office has been selected.

Step 5: Submission of license application

Fionza Consultants will submit the application to the local regulator, Curacao Gaming Control Board (GCB) once the aforementioned is concluded. Before receiving a license, you may be asked to attend an interview with the regulator and withstand a series of audits, depending on the quality and background of the existing gaming entities. Fionza Consultants will train you for the interview and aid you with the regulatory follow-up actions that are required.
If all goes well, your company will be granted a gaming license in Curacao and will be required to begin operations within a certain timespan in a way to sustain the license.

Step 7: Post-application compliances

After you have obtained the necessary approval to conduct your gaming business, Fionza Consultants will support you in ensuring that you are in compliance with local laws.
We will help you meet your yearly compliance obligations, such as submitting annual audited financial statements to local regulatory authorities and keeping track of your tax and accounting obligations.

Timeline of obtaining a Curacao Gaming License

The timeframe for securing a Curacao Gaming License can fluctuate due to multiple variables, including application completeness, business model complexity, and regulatory workload. The Curacao Gaming Control Board (GCB) might also request additional data, which can extend processing duration.

Providing an exact timeline is challenging due to these variables. It’s advisable to seek guidance from our team of legal and regulatory experts for a clearer understanding of the specific requisites and an estimated application processing period.

Fionza Consultants will furnish you with a project plan outlining deadlines for company registration, document preparation, and license application before initiating our engagement. This ensures transparency and alignment between all stakeholders.

Cost of obtaining a Curacao Gaming License

The expense of obtaining a Curacao gaming license is subject to variation, influenced by factors such as license category, business magnitude, and the extent of services necessitated from the licensing authority. It’s vital to acknowledge that maintaining a Curacao gaming license entails ongoing expenditures encompassing renewal fees, compliance, and audit costs. These costs can diverge contingent upon the specifics outlined by the licensing authority and the scale of the gaming enterprise.

For comprehensive information regarding the precise costs and prerequisites associated with acquiring and upholding a Curacao gaming license, it’s advisable to consult with a specialist or expert well-versed in gaming licenses. Fionza Consultants prioritizes transparency in our service costs. Upon assessing your business objectives and requirements, we will provide a consolidated breakdown of the total expenses linked to obtaining a gaming license in Curacao, ensuring you have a clear understanding of your investment.

Tax implication of obtaining a Curacao Gaming License

Gaming companies operating within Curacao must be aware of their tax obligations, which include corporate income tax on profits at a rate of 22%, applicable to taxable profits exceeding ANG 200,000 (approximately USD 112,000). Nevertheless, these companies may qualify for various tax deductions and exemptions aimed at reducing their taxable income and overall tax liability. Notably, gaming firms with economic substance established in Curacao can benefit from reduced tax rates ranging from 0 to 4%.

In addition to corporate income tax, Curacao imposes a turnover tax, functioning as a value-added tax (VAT), based on a company’s total revenue. Presently, this turnover tax rate stands at 6%, encompassing all goods and services, including gaming services. Nevertheless, specific exemptions and reductions are accessible for select categories like food, medicine, and education. Gaming enterprises may also be eligible for reduced turnover tax if they meet specific criteria, such as maintaining a turnover below a predefined threshold.

The tax implications for gaming companies in Curacao can fluctuate depending on their unique circumstances and activities. Hence, it’s imperative for gaming firms to engage tax experts or legal advisors to ensure compliance with prevailing tax laws and regulations in Curacao. Many gaming entities in Curacao choose to partner with Fionza Consultants for Curacao accounting and tax services. We offer guidance on available tax deductions and exemptions while assisting companies in optimizing their tax structure to minimize their tax liability. Staying informed about the latest tax developments allows gaming companies to remain competitive while fulfilling their tax obligations in Curacao.

Our services

At Fionza Consultants, our primary commitment is to deliver top-tier services to our clients, leveraging our extensive experience and expertise to unlock the full potential of their businesses. With years of hands-on involvement in the gaming industry, gained through collaborations with gaming companies and the utilization of cutting-edge technological solutions from software enterprises, we have honed our capabilities. Our portfolio includes a diverse array of consulting projects at managerial, functional, and regulatory levels.

Our proficiency spans the entire spectrum of operator activities, encompassing licensing, corporate strategies, SEO optimization, customer support, mergers and acquisitions, legal counsel, financial management, operational excellence, online gaming legislation, compliance, and anti-money laundering (AML) measures. We take immense pride in our status as one of Malta’s premier iGaming service providers, with a track record of assisting businesses in obtaining gaming licenses in coveted jurisdictions such as Malta, the Isle of Man, and Curacao. Our commitment to excellence in service delivery is unwavering.

Find out more!

Contact us to find out more about how to get a Curacao gaming license. Our team of experts will revert within the next 24 hours.

FAQ

Is there a minimum capital requirement to obtain a Curacao gaming license?

No, there is no minimum capital requirement to obtain a Curacao gaming license, making it an accessible option for smaller operators.

What is the reputation of the Curacao gaming license?

The Curacao gaming license has a mixed reputation. While it is recognized worldwide, some critics argue that the licensing standards are lower than in other jurisdictions, which could potentially pose risks for consumers.

What is the duration of a Curacao gaming license?

A Curacao gaming license is typically issued for a period of five years, after which it can be renewed.

What are the requirements for maintaining a Curacao gaming license?

To maintain a Curacao gaming license, operators must adhere to specific regulations, including implementing responsible gaming measures, ensuring the integrity of their operations, and submitting regular financial and operational reports.

What are the consequences of operating without a Curacao gaming license?

Operating without a Curacao gaming license is illegal and can result in significant fines and penalties, as well as damage to the operator’s reputation.

Are there any ongoing fees associated with a Curacao gaming license?

Yes, there are ongoing fees associated with a Curacao gaming license, including annual license fees and fees for specific services, such as hosting and compliance audits.

Curacao Gaming License