There are several operators who choose Curacao for getting a gaming license. One of the reasons is its affordability. The reasonable requirements also attract most operators. Some operators find license applications daunting. This basic guide will help you with the license acquisition process in Curacao.
Benefits of a gaming license
There are several online gaming operators who take gaming licenses for granted. They are not aware of the benefits they can enjoy with such a license.
Most software and payment service providers choose to work with licensed operators only. Players choose operators with plenty of partnered software and payment service providers. It lets them play more casino games and Judi bola.
An operator goes through a vetting process before obtaining a license. Most players use a gaming license as a basis for legitimacy.
Possession of a gaming license lets you open a merchant account. Financial institutions ask online gaming companies for a license before opening an account.
Having a gaming license helps create a fair and transparent gaming industry. It somehow contributes to the internet gaming ecosystem.
A gaming license lets operators feel more secure. It gives them a certain peace of mind. They can do business without worrying about legal repercussions.
There are many jurisdictions with online gaming regulators and licensing bodies. Operators choose Curacao for the following reasons:
It covers all types of gambling. No need to get various licenses for separate types.
It offers to license issuance at a lower price than most jurisdictions.
An operator can receive a license in about six weeks.
Curacao accepts crypto payments from compliant operators.
A Curacao license holder only needs to pay a 2% tax on net gains and no corporate income tax.
The process is less complicated than in other jurisdictions.
The major documents applicants need to submit include the following:
- Copy of passport;
- Original bank reference letter;
- Original certificate of good conduct;
- Original utility bill not older than three months;
- Professional reference letter;
- Resume or CV; and
- Second ID.
Applicants have to assemble and review all documents required before submitting the application. Even a small mistake could result in rejection.
License fees depend on several factors but are usually lower than in other jurisdictions. Aside from the initial application fee, there are some associated costs. These include the incorporation of a local company in Curacao and legal office fees. Administration fees, domiciliation fees, and representative fees are also included.