Gambling License in Curacao
A gambling license in Curacao is a promising and affordable solution due to the fast opening time, favorable prices, low taxation, and other advantages. Gofaizen & Sherle will provide professional business licensing support with a guaranteed solution within 6 weeks
If you are planning to run a legal gambling business in one of the most stable jurisdictions - you must obtain a Curacao license. For this purpose, you need to register a company, collect the necessary package of documents, pay the state fees and fulfill the simple demands of the jurisdiction.
Curacao is a small self-governing state that is a part of the Kingdom of the Netherlands. This union strengthens the jurisdiction's image and allows it to enter the EU markets while creating its own laws and taxation norms.
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To start an online gambling business you will only need 1 license and it will be suitable for different types of activities. There are 2 types of licenses in Curacao: master and sub-license. However, each of them covers all types of games and allows you to officially operate in the jurisdiction. The only difference is that the master licensee has the right to open sub-licenses to others.
Advantages of the Curacao Gambling License
- Fast and profitable
Compared to other jurisdictions, Curacao takes record time to process a gambling license application: the entire licensing process takes up to 6 weeks, and the license fee is several times lower than in other jurisdictions - from $4500. - No complicated rules
The licensing process in this country is remarkably quick and simple. Entrepreneurs who plan to apply for a Curacao gaming license have the opportunity to test their business ideas in practice, bypassing the complex and lengthy procedures that usually accompany obtaining a license in other jurisdictions. - One license
A gambling license in Curacao opens up the opportunity to obtain a one-stop license that combines various types of gambling services, including casino, sports betting, lottery, poker, and more, under a common Curacao license. Companies will be able to save time and resources by focusing on developing and improving the gaming experience for their customers. - Easy start for startups
Lower licensing costs and flexible requirements make this region attractive for young entrepreneurs looking to start their own gambling business. The lower financial cost of licensing means that startups can allocate more funds to developing and advertising their gaming products. They have a competitive advantage in the market and the ability to quickly catch up with other companies while minimizing financial risks. - Tax advantages
Curacao offers an attractive tax environment for the gambling industry. This includes low tax rates and the ability to exempt certain types of income from taxation. Curacao offers a 0% rate on value-added tax (VAT), which provides additional financial advantages for gaming companies. In addition, corporate tax is only 2% of net income, which is one of the lowest rates in the international gambling industry.
Disadvantages of the Curacao Gambling License
Barring the many benefits and low cost, you should understand that obtaining a Curacao gambling license may not meet your requirements.
- You will not be able to provide services to the Netherlands, USA, and France markets.
- For example, the Isle of Man or Malta gambling license will offer more opportunities. However, this also affects the cost of opening a gambling company in these jurisdictions.
- Data protection and privacy standards may be less stringent than in more regulated jurisdictions, which may cause players to be concerned about the security of their personal data.
Requirements for Obtaining a Curacao Gaming License
- Register a gaming company with a local representative in the registry
- Draw up a detailed description of all types of games
- Add "Terms of Use" to the gambling site
- Create your domain
- Use physical servers of the company (at least one) in Curacao
- Develop and implement AML policies
- Conduct software maintenance audits
- RNG (Random Number Generator) certificate, which confirms the transparency and fairness of games involving a random number generator.
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Types of Curacao Gaming License
There are only 2 types of gambling licenses in Curacao - master licenses and sub-licenses:
Master Licenses
- Who issues licenses: Ministry of Justice. It is quite difficult to obtain such a license, at the moment, only 4 companies have managed to do it.
- License validity terms: 5 years
The Master License gives the holder broad powers, including the ability to grant sub-licenses to other companies. This opens up the possibility to create your gambling network and receive additional income from partnership agreements.
Sub-Licenses
- Who issues licenses: Sub-licenses are issued by the holders of the Curacao Master License.
- Duration of licenses: usually corresponds to the duration of the master license under which they were issued.
A Curacao sub-license lets companies provide gambling services on their platform under the license of the master licensee. They get access to the infrastructure and technical support of the master licensee, which facilitates the process of launching and managing an online casino or other gambling service.
The main difference between a Curacao master license and a sub-license is that only the master licensee has the authority to grant sub-licenses to other companies. This makes it more attractive for entrepreneurs who are looking to establish a gaming proprietary network and expand their presence in the market. A sub-license, in turn, allows operators to get access to the already installed infrastructure and technical support of the master licensee, which reduces the time and costs of opening a gambling business.
Regulating the Gaming Industry in Curacao
As of 2018, the Gambling Control Board (GCB) is responsible for overseeing gambling activities: both physical casinos and online. The GCB does not issue licenses or accept applications. The opening of sub-licenses lies with the 4 master license holders:
- 1668/JAZ – «CEG»
- 8048/JAZ – “Antillephone N.V.”
- 365/JAZ – “Gaming N.V.”
- 5536/JAZ – “e-Management N.V.”
The Master License is issued by the Department of Justice and establishes rules to ensure that the holders of these licenses monitor the transparent and honest activities of their sub-licensees.
The main responsibilities of the Gambling Control Board are to ensure compliance with legal requirements, oversee the implementation of AML/CTF policies, protect player funds and privacy, and respond to violations of the law.
As part of the GCB's activities, an additional online gambling regulator, the Curacao Internet Gaming Association (CIGA), has been established. Since 2021, it has overseen more than 30 online gambling operators.
The gaming sector is also regulated by the Ministry of Finance and the Financial Intelligence Unit.
Law update from 2023
In 2022, the government announced global legislative changes in gambling regulation. The aim is to comply with international standards, GCB's independent status to regulate all gambling in the jurisdiction and empower it to issue B2B and B2C licenses to replace existing sub-licenses. A transitional period of up to 18 months will be granted for existing sub-license holders.
In addition, the application fee will be 4,000€ and the license fee will be 12,000€.
The law is due to come into force in the second part of 2023.
Renewal of a Curacao Gaming License
You do not need to renew your gambling license in Curacao, as this is automatic as long as you comply with the requirements and sign an official annual contract. The license will remain valid as long as the master license of the owner from whom you opened it is valid.
At the same time, in case of illegal actions, the master license holder has the right to revoke the sub-license.
Suspension or Revocation of a Curacao Gaming License
The following violations may result in the revocation or restriction of a Curacao gaming license:
- serving players from the USA, Netherlands, France
- admission to gambling of minors
- lack of information on the gambling site "Rules of use of the site" and warning about gambling addiction
- facilitation of money laundering
- financing of terrorism
- violation of certain rules set forth by the master license holder when entering into a partnership
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