Complying with Curacao gaming licenses is an ongoing part of running an iGaming business, but it often gets forgotten about once administered. But it’s risky to forget about it since a simple red tape mistake can cost you your license and set your business back. There is a lot you should be doing to make sure that your Curacao gaming license stays intact, not least business compliance measures in the workplace. But what else do you, as a business owner, need to do to keep your Curacao gaming license maintained and in place while you work? Take a look at our guide to be sure of no mishaps.
Store and track everything
The best way to make sure you don’t slip up when it comes to your Curacao gaming licenses is to keep a thorough track of everything. Every document, every update, everything should be stored and kept track of. If nothing else, it means that if regulators need something pronto, there isn’t a panic trying to get it to them and risking getting your license suspended until the matter is solved. Gather everything, including your existing license and licensing footprint into the one portfolio and include a list of all the information that needs to be reported on in each filing.
You might want to even storyboard your process. Review how your current Curacao gaming license compliance is operated and how effective it is at meeting the needs of your business in order to identify problems in compliance and update as you go.
Don’t wait for renewal notices
Waiting for a renewal notice to land on your desk is a good way to cause delays in your business operations. A lot of gaming licenses expire after a certain amount of time, which will be communicated to you from the start. This is useful. It means you can get ahead of the problem. Don’t rely on the authorities to keep you updated on when your Curacao gaming license needs renewed or any other deadlines, ordinances or fee changes. They’re an overworked government department: things will go wrong. Instead, get through the paperwork for your renewal process and make sure you don’t slip through the cracks. Keep a calendar of expiration dates on your iGaming business licenses so that you know when something is coming up. For example, if your Curacao gaming license is up for renewal in the next year, you’ll want to get ahead of that or have your online casino shut down until it is renewed.
Display all your permits and licenses
It might not be mandatory to display all of your permits and licenses, but it will definitely be required by the given authority for some of them. However, it is good business practice to display all your licenses and permits for the sake of the public – including your headquarters and any websites including your online casino. This will both please an inspector that might stop by, but also improve loyalty in customers who appreciate transparency.
Be aware of new business license triggers
There are some things that, if they take place, might require another business license or a renewal, such as changing the name of your business, ownership changes, remodeling, changing your address, new product launches, mergers or acquisitions, closing a location, or foreign qualifications.
