An introduction to the process of becoming an Online Gaming Operator in Curacao
Building an online gaming platform or online casino is one of the most profitable and revolutionary industries you could possibly get into right now. The industry for iGaming is growing at a constantly accelerating rate and generating unforeseen amounts of revenue, which explains why the market is flooding with all kinds of companies and operators dipping their toes into such a lucrative opportunity.
Currently, laws revolving around gambling across the world are at a shaky state, where while some countries have taken a rather relaxed approach towards it, other countries still have it completely illegal. This does not mean however that there aren’t any countries which have completely taken advantage of the lucrativity of the gambling and i-gaming industry. Some countries like the UK, Malta, and Curacao have very big world renowned gambling commissions that host igaming companies that are accessible from almost anywhere in the world. In this article, you can see what it takes to become an online casino operator in Curacao.
Comprising more than 500 licensed iGaming operators, Curacao might just be the longest remembered and most famous places to go for an online gambling license. This owes to the comfortable environment the country has for iGaming companies with impressively low renewal fees and gambling taxes. It’s almost a no-brainer to pick Curacao over other countries when it comes to deciding where to build your online casino, and the process to apply isn’t even that difficult.
What are the main advantages of setting up shop for your iGaming company in Curacao?
- An income taxation of just 2% is all that organizations are charged, which is a very competitive rate compared to competing iGaming giants like Malta (with a corporate tax rate of 5%), and the UK (with an income tax of 15% and can to increase to 50% if not properly registered)
- Taking earnings out of an investment portfolio is not subject to any restrictions, which means you can withdraw as much money as you like from your company account without any questions being asked no matter what.
- Company registration is simple and quick, if done with the help of We Form Online.
- iGaming Establishments provide top-notch customer assistance, which can even help you throughout your company-building endeavours.
- It is not necessary to have an actual office registered within Curacao’s borders, which means you can operate from wherever you like in the world, while still taking advantage of Curacao’s financial comforts. This can also save you from constantly having to travel to and from Curacao to keep your business up and running.
What does one need to be able to build an iGaming operation company?
In the year 1993, Government Regulation on Overseas Games of Chance came into effect in Curacao, legalizing internet gambling. Federal court authorizes grant for igaming licensing. To ensure that internet gambling is properly licensed & regulated, the Ministry of Revenue was thus given this responsibility.
The Curacao Gambling Board of control (GCB) was given authority to regulate the internet gambling industry by the authorities on the 18th of December, 2018. It would be in February of 2019, that the GCB became the Anti money laundering regulator for all gambling activities in and out of Curacao, including the igaming industry.
Online gambling in Curacao is governed by the Federal Regulation on Overseas Games of Chance (Landsverordening buitengaatse hazardspelen, PB 1993, no. 63).
Starting off your own iGaming company in Curacao Is going to cost you an initial investment of at least 50,000 to 100,000 Euros, which would include the cost of a license and all the other requirements which are going to be mentioned below.
How to register for a Curacao Gaming license?
We Form Online makes this process easy for you. Not only to make sure you have everything prepared, but also to help consult you with any information you may need along the way, as well as offering a handy online program to help you keep track of all your data and progress. The following are the requirements needed to be able to obtain a license from the CGB (Curacao Gaming Control Board);
- First and foremost you need to have a registered company in Curacao. Registering a company here is not that difficult and only requires a few documents, some income information and general company information, as well as a recommendation from the bank.
- You will also need a local resident to represent your companies well as one physical server of the company within the country.
- It is necessary to prepare proof of domain ownership, as well as a full business plan and a detailed description including technical audit of the games & systems you want to feature.
- You will also be obliged to present a set of terms & conditions for the consumer’s use of the website (which include the restriction of access for anyone below the age of 18 or anyone from the USA), as well as implementing trustworthy verification systems for your users.
- Finally you will need to apply for a certificate that confirms your adherence to RNG standards.
The iGaming industry is anticipated to generate an approximate revenue of around 30 billion Euros by the end of the next year. The use of online gambling sites as well as other wagering games has risen to be among the most popular forms of leisure among European citizens in recent years. Possible reasons for the growing demand of gambling-related hobbies may be marked by significant advances that have become part of everyone’s daily lives. Numerous other variables are contributing to this surge, including the use of sophisticated gadgets, improved internet speeds, and the adaptability of financial organizations that have adopted electronic financial practices.
It’s not an easy task to build your own iGaming provider business, but nothing in life which pays off is easily achievable. If you work hard enough, anything is possible. Don’t let anything hold you back from following your dreams, and if you think you have what it takes to build your own company, iGaming could be the industry that makes you rich for the rest of your life.
If you would like to know more our team will be happy to assist you. Please email: [email protected]