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Online Gaming License in Curaçao: The easiest path towards your e-Gaming business

calendar 6/11/2020 8:00:00 AM
author Aldemaro Financial and banking
Curaçao is one of the Caribbean's hidden gems.

If you superficially follow the offshore industry, you know most of the top destinations in the Caribbean: St. Kitts and Nevis, Dominica, Belize, St. Lucia. However, one jurisdiction you probably haven't heard of, unless you're a hardcore investor in e-Gaming, is Curaçao.

This gorgeous island, formerly a member of the Netherlands Antilles along with Aruba, Bonaire, and other minor islands, is part of the Netherlands. In fact, it is the largest of the Dutch Overseas Territories and has almost 150k inhabitants.

Curaçao was the first financial service hub in the Caribbean. In 1828, the Central Bank of Curaçao and Saint Marteen was the first central bank to be established in the Americas.

Curaçao isn't exactly a tax haven, but it boasts impressive tax benefits and simple licensing processes for e-gaming. Curaçao has been giving e-gaming licenses since 1996, making it one of the pioneers of the business in the whole world.

Moreover, as Curaçao is part of the Netherlands, it must observe the EU Code of Conduct against harmful tax practices because it is considered an EU OCT (Overseas Countries and Territories). That means that even though it's not a member of the EU, it has to comply with its regulations, its nationals are citizens of the EU.Curaçaoan products have preferential access to the EU without import duties.

Even as some pressure by the OECD led the country to make significant changes to its corporate and tax legislation, there are still plenty of benefits to enjoy from investing and obtaining a license in Curaçao.

One of the advantages of Curaçao is that it has one vital difference than other Caribbean islands: The touristic industry isn't its primary source of income. Yes, to be sure, it's significant, as thousands of tourists are attracted to the island's heavenly beaches and the picturesque old town center of Willemstad. However, the main drivers of the economy are oil and financial services.

That means the island has a service-driven economy, with specialized service providers, an adequate telecommunications structure, and a robust legal framework for investors and those willing to obtain an e-gaming license in Curaçao.

The island has almost 25 years of experience dealing with e-gaming. Online gaming in Curaçao is nearly as old as e-gaming itself. As financial services in Curaçao are so essential for its economy, it has cutting-edge IT connectivity, which includes a tier IV data center, plenty of direct satellites and submarine optic fiber cables. All this means Curaçao has one of the best internet speeds in the whole Western Hemisphere.

Curaçao holds some of the best-known names in the gaming industry. It offers a reliable system of gambling licences such as gambling per se, betting, and ability-based games. Through a license and sublicense system, Curaçao provides a set of authorizations that englobe all kinds of services of e-betting.

A master licensee can sublicense his rights to execute an e-gaming operation to other service providers that may operate under the sponsorship of the master license. That means that a series of a few main licenses allow a deep platform of sublicense operations that cover a large variety of games and services such as betting, casino, poker, software supply, and more.

Some of the key benefits of the license are that it has an indefinite validity, a swift, 45 days process, and all games are authorized under one license.

However, you might be thinking that there's a small issue to solve: Curaçao is part of the Netherlands, which means that Papiamentu (the local language) and Dutch are the languages most of the population speak. Well, that's not necessarily the case. English is also an official language in Curaçao, and Spanish is widely spoken due to the close historical and commercial ties of the island with Venezuela and Colombia. That means language will be far from an issue for you.

The best of all? A microscopical flat 2 % corporate tax rate (at least until 2026), without additional gaming taxes.

So, you have:

  • A well-established e-gaming jurisdiction with over 20 years of experience in the business
  • A 2 % corporate tax rate
  • A simple registration process (when compared to other gaming jurisdictions)
  • Top-notch telecommunications and IT infrastructure

Have we got your attention?

 

Why Curaçao? Five Reasons to Start your Online Gaming Business in Curaçao

Oneaffordable and straightforward license for all your services

Most e-gaming jurisdictions require different licenses with different costs and different requirements to run your business. That means you usually need to apply to at least two separate licenses and some additional permits to run your business legally. That's not the case with Curaçao: one umbrella license allows you to provide all gaming services.

Likewise, the process is simple for gambling licences in Curaçao. It doesn't require months of preparation and kilos of paperwork. In fact, the licensing process per se takes only around a couple of weeks (albeit the complete process takes more time, more on that ahead). When compared to other jurisdictions, the fees of the Curaçao license make it a winner. It's one of the most affordable in the whole world.

Lifetime license

Once you get the license, it's yours to lose. That means you don't have to updated or pass through bothersome re-approval processes from time to time. As long as you play by the rules (fair play for all, self-exclusion policy, prohibition of underage gaming) and keep solid financial records, you won't have any issues to continue operating.

Tax benefits

You can enjoy a reduced 2 % corporate income tax rate for your operations until 2026. You read that right. Furthermore, your VAT rate is zero percent. Again, you read that right. Curaçao has a free trade policy for foreign investors in e-gaming where it takes a small portion of their income for allowing them to operate from the island, but that is amazingly beneficial for them.

Sub-licensing

If you hold a master license, you can grant sub-license for different gaming services and operations to other companies. That means you can basically lease your license as an umbrella license that covers many different sublicenses, which creates an additional income for your company. However, you must take into account that you'll be held responsible for the activities of the sub-licensees. It will allow you to offer packages that includes the sub-license, business license, and hosting services for a competitive price.

Top IT infrastructure

Curaçao has one of the fastest internet speeds in the Americas and has a cutting-edge technological infrastructure. The country relies significantly on financial services and fintech and, thus, has invested a ton in sustaining a decent infrastructure. This means you won't have any web hosting issues while operating your business from Curaçao.

A comparison of the benefits: Malta vs Curaçao

To help you understand the benefits of Curaçao's gaming license, we'll compare it to one of the best-established jurisdictions on the planet: Malta.

Malta also got to the e-gaming world early, and has been a pioneer country on financial licenses and services. Its favorable tax system, state-of-the-art technology, and robust legal and regulatory framework, has turn it into one of the top service providers in the whole world.

Curaçao is an affordable licensing spot, and master licenses usually come with hosting services. That means it's a good place for small operations and larger-scale businesses.

Malta is generally targeted for larger players. That means the licenses usually have way larger costs and, in fact, the taxes the e-gaming companies pay, the activities they can conduct, and the requisites they must comply with, depend on the kind of license you obtain.

Want to know more about the Maltese financial licenses? Read our Country Focus Page right here !

Curaçao is simpler in that regard. It has a flat 2 % corporate tax rate without additional gaming taxes and has one-size-fits-all license for all services.

So, yes. Malta is a more reputable jurisdiction. It has stringent regulatory levels of compliance and anti-money laundering. That means that a Maltese license speaks for itself. A Curaçao license usually means you have to earn a reputation old-style. Because of its simplicity, many players and businesses don't rely exclusively on the fact you're licensed, but want to know that you're a legit business and gaming service provider.

However, if you're just entering the business, want a more favorable tax regime, and/or reduced operational costs and legal fees, then Curaçao is your way to go.

 

Curaçao advantages over Malta

So, to sum it up, what advantages does Curaçao have over Malta?

  • Affordable setup
  • Simple application process
  • One-size-fits-all license
  • Better tax optimization opportunities

 

Who are we, and what can we do for you?

In Mundo Offshore, as part of NTL Trust, we have more than 20 years providing corporate, banking, and investment services for high net worth individuals and investors around the world.

Our core value is freedom: we believe you should have the freedom to do business, to invest, and to protect your legacy.

That has led us to be one of the top providers of financial services in the Caribbean.Curaçao isn't an exception.

We can help you get your e-gaming license in one of the top gaming jurisdictions in the Caribbean and the whole world.

Work with Mundo and get a swift gaming license that'll allow you to pay a minuscule 2 % corporate tax rate!

Now, let's get into details.

 

 

Requirements for a gaming license in Curaçao

What are the key requirements to get the license?

  • The applicant must establish an e-zone company in Curaçao with a local administrator.
  • The company must also show standard due diligence information and documentation related to the beneficiaries and the business.
  • The hardware must be located in Curaçao.
  • The solicitant must have a registered web domain for its gaming operations
  • A software agreement to create a e-gambling business in Curaçao. It must detail the games the company will offer and how the software will be updated and secured once it starts working.
  • Certificate of Random Number Generation Test (RNG)

In general, aside from the above-mentioned, you'll be required to submit the following (take into consideration that the authorities may ask for additional documents and information) documents:

Of all owners of the company (all documents must be of less than three months old):

  • Police clearance
  • Certified passport copies
  • Original banking references
  • Original professional references from an accountant or lawyer
  • Proof of residence
  • CV
  • Description and details of the games to be offered and the software to be used
  • Geographical target market
  • Copies of the terms and conditions, which must include:
  • Gaming policies for underage
  • Responsible gaming policies
  • AML policies

Holding of at least one security copy of the client and transaction database in Curaçao

 

The process for establishing a gaming license in Curaçao

Now, let's talk about the setup process.

  • Establishing the holding company for the sublicense and the contracting and trading company (6-9 weeks)
  • Obtaining the sublicense (1-2 weeks)
  • Credit card merchant account and corporate bank account (6-9 weeks)

Thus, the whole process, from the preparation phase to the final setup where the company is ready to operate, takes between 12 and 20 weeks.

Likewise, Curaçao has a list of restricted countries to which you cannot provide services to. If you contact us, we'll let you know the full list, among other details.

Now, what can we do for you? We can help you conduct every single step of the process for a competitive, market-conscious price.

Our whole package includes a series of products you'll need in order to get your e-gaming business running. That means we don't limit ourselves to aiding you to get the license. That, in general, is fairly simple. However, establishing a robust organizational architecture that gets the most out of your business and helping you set up a merchant account to process payments and a corporate bank account is somewhat complex.

 

Our services includes:

And we're here to help you with everything. Our package includes:

  • Incorporation of your company in Curaçao
  • Incorporation of a trading company in the EU (usually Cyprus, which boasts terrific tax benefits, as it has a 12.5 % corporate tax rate)
  • Establishing a tax-efficient corporate structure
  • Obtaining an e-gaming sublicense in Curaçao
  • Establishing a merchant account that accepts Visa and MasterCard credit card payments
  • Establishing a corporate account
  • Assistance for all applications
  • Local representative in Curaçao
  • Local secretary in Cyprus

One of the main advantages of our package is the establishment of a trading company in the EU. This will allow you to:

  • Offer your online products across the world, except the above-mentioned restricted markets (USA, France, Netherlands, among others).
  • Reach deals with commercial services and software providers
  • Open and operate bank accounts anywhere in the world where gaming companies are accepted, which opens fantastic tax planning and asset protection possibilities for your business.
  • Own intellectual property rights such as web domain names, software, URL, and such
  • Partake in marketing activities for your business and the business of your partners

Why work with us? During our more than 20 years of experience, we've built an unmatched network of experts and partners around the world to offer only the services and products you deserve. This has led us to an incredible success rate and a network of satisfied clients that come to us for more of our services.

Our experts in Curaçao have decades of experience in the gambling business with a high success rate and unparalleled integrity and utmost confidentiality. This has helped us create an unrivaled service package. The process of obtaining an e-gaming license in Curaçao is simple. However, you need the help of an experienced partner if you want to get the most of your business.

That's why we are here for you.

Want to obtain an online gaming license in the top jurisdiction of the Caribbean with astonishing tax benefits? Contact us right now!


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