Rosloto offers its customers to open a casino with a Curacao gaming license at an affordable price. Start your project in this tax jurisdiction without your personal presence in the shortest possible time. We have vast experience of working with legal offshore zones. Our company always strives for the best result. This article is aimed to clarify the advantages of such a solution and help you understand why the gambling license Curacao is so profitable.
The Caribbean island is a self-governing territory within the Kingdom of the Netherlands. Such a fact allowed this territory to become part of the EU. At the same time, it has a simplified taxation system and low tax rates compared to European countries.
The economic attractiveness of the territory was developed historically. A group of Netherlands Antilles was discovered by Dutch sailors that were moving from the European continent to South Africa. Therefore, trade relations have always flourished here due to loyal tax rates.
The beginning of the 90s was marked by the active development of offshore zones. However, the gambling commission Curacao (Curacao eGaming Association, CIGA) began to issue permits for gambling activity only in 2001. Each Curacao casino license must be approved by the Curacao Justice Department.
The Commission combines several basic functions, such as legislative direction, licensing, and some regulatory tasks. The CIGA organizational structure has 30 different branches and subsidiaries for performing all these assignments.
The Curacao gaming license has the following advantages:
There are two types of Curacao casino permissions:
Businessmen are interested in the second type of gambling license Curacao. It can be obtained quite easily and quickly without overpaying fabulous amounts. The only thing that needs to be done is to pay an additional fee to the owner of the Master License.
Despite the relatively simple licensing procedure, a businessman needs to go through several necessary steps.
All created companies have the prefix N.V. or Naamloze vennootschap, which is equivalent to a limited liability company.
Registration is preceded by an approval letter from the government. It is enough to prove the legitimacy of the business and the focus of e-commerce in favour of customers outside Curacao (the provision of gambling services to local residents is prohibited by law). At this stage, it is necessary to open a commercial account in a bank located on the isle.
Successful fulfilment of all these requirements will make it possible to apply for preferential taxation. It is 2% of income. This amount is meager compared to American or European rates.
All documents must be translated into English and notarized:
The consideration of the application may take up to 30 working days.
After analysing all the requirements for the applicant and the stages of obtaining permission, you can calculate the approximate amount of investment.
Cost, $, thousand
Opening a commercial account
One-time state duty
34 (one-time fee) + 4.8 (every year)
Annual maintenance of servers (rental, maintenance, administration)
Other company expenses
Thus, the Curacao casino license requires at least $57.3 thousand for initial investments. This amount does not take into account the cost of gambling content, the integration of payment modules, and marketing promotion. However, you do not need to worry. Statistics confirm that all expenses are paid back in the first year of the company operating.
In November 2022, at the annual SiGMA Europe Summit, the Minister of Finance of Curacao Javier Francisco Antonio Silvania, announced that the government plans to update the gambling regulatory framework. A little later, at the ICE conference in London (in February 2023), the ministry presented a key action plan aimed at modernising the legislation.
The regulatory changes are expected to come into effect in Q3 2023.
At the moment, the Ministry of Finance has adopted a draft version of the bill and sent it to the Social Economic Council (SER) for approval. Then, the document must be approved by the Council of Advice (RVA) and the Parliament of Curacao.
The main reasons for innovations are as follows:
The text of the bill is not yet available to the public. However, the Curacao government issued several press releases addressing key changes in the field.
The Curacao Gaming Authority (CGA) will be responsible for registering licences and monitoring the activities of their holders.
The CGA will be responsible for issuing:
In addition, the regulator will be able to revoke the permit if the licensee fails to fulfil its obligations (for example, not checking the age of a gambling site’s visitors).
The legislation implies the elimination of the old system of licences (Master Licence and Sublicense). Instead, two versions of documents will appear:
The conditions for obtaining a licence will not change a lot. The government will strengthen control over the security of monetary transactions and information about investors and beneficiaries of iGaming projects.
The main innovations are as follows:
Besides the mandatory registration in the E-zone, operators must open physical offices on the island and employ at least one full-time local worker. This may be a company director, administrator, manager, AML officer, and another employee in a key position.
Within two years, the entrepreneur needs to hire two more workers. The office cannot be closed down for 5 years after obtaining a licence
Responsible Gambling principles
The government plans to add new mechanisms and control procedures to make the play more transparent and secure.
The list of innovations includes the mandatory certification of software and the passage of an independent audit. In addition, CGA promises to provide a procedure for resolving disputes between operators and users and instructions for filing complaints about the work of online casinos
The Due Diligence procedure
This is a multi-level verification of individuals — shareholders of a licenced company.
CGA will review applicants' sources of income and payment operations to ensure they are legitimate
The goAML system
The software is designed to combat various kinds of financial violations, including money laundering, sponsoring of terrorism, and transactions with individuals from the sanctions lists
The government of Curacao announced that it has been consulting with the leading banks in the jurisdiction for several months.
The purpose of the negotiations is to improve communication with operators who previously had difficulties with onboarding (adapting the casino system to the requirements of local banks)
As part of the updated rules, the exchange of digital assets for fiat money will be allowed. Acceptance of bets in cryptocurrency remains in question. The government of Curacao has made it clear that it is also working on this issue
The price of the permit will not be known until the publication of the law. Nevertheless, the Ministry of Finance has already stated that the cost of the licence will remain competitive in comparison with other countries.
Curacao is appreciated by entrepreneurs for its minimal taxes. After the adoption of the bill, this feature of the jurisdiction will remain relevant.
Moreover, the authorities announced two fiscal initiatives for the gambling business:
When hiring qualified foreign experts, the operator will be able to work in expatriate mode. It is characterised by reduced wage rates in the conditions of the complete filling of the quota for local specialists.
The procedure for issuing a document depends on the current activities of the entrepreneur — whether the businessman is a Curacao licensee or just plans to launch an iGaming project in this jurisdiction.
The government has provided a tax concession period for companies — 18 months from the date of signing and publication of the law.
The scheme for obtaining a new permit looks as follows:
The procedure consists of two parts.
The actions of the entrepreneur at the first stage are as follows:
The first stage takes 8-12 weeks, depending on the completeness of the information provided. In addition, within 14 days from the date of applying to the CGA, the regulator must send a response letter and request a start-up package of documents.
Only after passing the first stage, the entrepreneur can register a legal entity in the E-zone, open a local office, and hire employees. In the second stage, it is necessary to submit a package of technical documentation and pass an interview with a CGA officer.
The registration of a Curacao licence is characterised by minimal terms. Thus, according to the draft law, the second stage of verification cannot last more than 90 days. Upon expiration of this period, the regulator is obliged to issue a full-value licence or a preliminary permit (it is valid for up to 6 months).
A decision to obtain a Curacao casino license can become your clear advantage. It will bring a decent profit and make your business competitive. Low taxes, ease of getting the document, and the possibility to work around the world make the legalization of casinos in Curacao extremely attractive to investors.
You can buy a ready-made online project with a Curacao casino license from Rosloto. We offer a full-fledged product that can be launched the next day.
Our experts provide a wide range of services related to licensing, for example, preparation of documentation, bank account opening, as well as assistance in registering your company, development, and rental of online slots for your business.
We propose you to contact the Rosloto team and learn more about the benefits of working with us.
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