Curacao is one of the oldest iGaming regulatory locations in the world, operating and giving out licenses since 1996. Business startups and entrepreneurs looking for a gaming license usually turn to Curacao due to its many advantages.
On that note — is the process of applying and obtaining a Curacao gaming license complicated? Since many consider Curacao to be one of the most accessible jurisdictions globally, the process itself shouldn’t be that challenging. Nevertheless, we’ll go over the whole license application procedure to prepare you for what’s coming. Let’s dive in!
Basic Info
Curacao is one of the most popular places in the world for getting a gaming license, with over 450 companies currently holding one. After a thorough application process, the Ministry of Justice issues every license at its sole discretion. There are two types of Curacao gambling license — a master and a sublicense.
However, only four master licenses have been issued since Curacao started issuing them, so don’t hold your breath for this one. It carries the power of granting sublicenses as the holder, so it’s not frequently obtained. On the other hand, a sublicense is much more common. We’ll go over the process of applying for one below.
Why Do You Need a License?
One of the main reasons for obtaining a Curacao gaming license is operating a legal and trustworthy online casino. Such a license allows the online platform to offer its services internationally, although Curacao gaming license countries restrictions on GBO are possible. This is something you should thoroughly check before obtaining a gambling license.
Online casinos that operate without a license operate illegally and are at risk of being shut down or facing prison time, large fines, and major reputational damage. So, getting a license is a must.
Requirements for Obtaining a Curacao License
Naturally, as with any application process, the applicant needs to go through a series of requirements. First of all, the operator needs to submit documentation about the company’s funds, the residential address of the owner, the results of personal health tests, and the aim behind the startup.
Aside from that, the applicant needs to submit the following:
- Resume or CV
- Certified passport copies
- Original or certified utility bill copy
- Original or certified copy of a clearance certificate from the police stating there is no criminal record
- Original banking references and additional documentation
- Original professional reference letter from a lawyer/accountant
- Proof of domain ownership
- Details of software providers
- Third-party certificate of an RNG application
- Copies of terms and conditions (underage gaming policies, KYC policies, and responsible gaming policies)
Once you’ve submitted these documents, you have to go through a waiting period. The verification process lasts only a few weeks (typically four to eight), and if it’s successful, the company is provided with a license valid for a specific time.
However, note that a breach of any policies would lead to the loss of the license in the future. That’s why it is crucial to maintain your legal status, but you can read more about it here. Once the license expires, you are eligible to renew it if you have not breached any terms and conditions mandated by the Curacao gaming jurisdiction.
Curacao License Cost
Lastly, most operators wonder about the Curacao license cost and how big of a hole it would leave in their budget. Luckily, the Curacao gaming license is one of the most affordable ones. Let’s break it down.
The original price for first-time applicants is €21,900 (per 2021 data). On top of that, operators need to pay a 6% sales tax. However, there is no need to pay VAT, which is a huge bonus for the applicants. The price may vary depending on additional factors, but it shouldn’t exceed a total of €25,000. The renewal license cost is priced the same as the original license.
All in all, the Curacao gaming license will not cost you an arm and a leg, as it’s among the cheapest ones out there. What’s more, the license obtaining time is much shorter than with other jurisdictions, further enticing operators to apply for this license.
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