If you’re an operator looking to legalise your online business with a proper gambling licence, you might be in a bind choosing the appropriate jurisdiction. And Curacao provides one of the most popular licences due to its many advantages and low cost. However, that might not be enough to persuade some operators to opt for a Curacao gaming licence. So, to see what else this licence offers, let’s dive deeper into the topic.
Curacao Licence Characteristics and Cost
Interestingly, Curacao was the first country to legalise online gambling. Situated just off the coast of Venezuela and part of the kingdom of the Netherlands, Curacao has been granting licences since 1996. It has been a staple in the iGaming industry, primarily due to its political stability.
Nevertheless, other factors apply when it comes to the Curacao gambling license. The first is the low cost of the licence, which is currently priced at €21,900 per year + 6% sales tax. The same numbers apply for licence renewal costs.
For that price, operators receive:
- The licence itself;
- Professional consultation;
- Two domains and one validator;
- Control over complying with licensing requirements;
- Administrative and legal service;
- Assistance in opening bank and processing accounts;
- Servers rent, and many more things that you can find listed on the official website.
Advantages of Curacao Licence
Although obtaining a Curacao licence comes with plenty of advantages, we have to mention the four key ones:
- One licence is enough to run all types of gambling operations.
- The process of obtaining a licence is straightforward.
- The period of obtaining a licence is relatively short — four to eight weeks.
- Operators do not need to pay VAT.
For these and many other reasons, the Curacao jurisdiction has gained worldwide recognition and trust in the iGaming industry. If you still need some help with the process, you can rely on gbo-intl.com to complete it in no time.
Process of Obtaining a Licence
The Curacao regulating authority comes up with the licence requirements. It’s up to the operator to preserve all financial records and provide a thorough and correct description of the company’s activity. This also means the operator must register their company inside the country’s E-Zone, with all servers and hosting remaining in Curacao.
To receive a licence, the operator will have to go through the following process:
- Fill an application.
- Provide a thorough report concerning point 7 of the eGaming IP licence and the requirements compliance regulation.
- Fill in the IP application form.
- Make the application payment.
- Wait for approximately six weeks for approval.
If something does not adhere to the appointed authority’s standards, the gambling commission will provide a checklist of necessary approval points to the operator.
Furthermore, note that audits are conducted regularly. So, to avoid any penalties, the operator needs to keep all of its services, links, domains, and more in line with the commission requirements.
Can You Obtain a Licence for Crypto Projects?
This is a relatively common question in today’s crypto-obsessed iGaming world. Thanks to the increasing popularity of cryptocurrency users, many operators have thought about opening crypto-specific gambling platforms. And for a good reason — making payments through crypto enables players to preserve their anonymity, pay smaller fees, and receive funds faster.
For that reason, operators that want to obtain a licence for crypto projects can do so. Although the process is quite similar to getting a regular gaming licence, a few things are different. Due to those differences, the process of obtaining a licence that would allow them to offer games based on blockchain or process transactions using cryptocurrencies is longer and more expensive.
Yet, that shouldn’t scare you, as the Curacao gambling authority makes all processes headache-free. All you need to do is contact them to receive the correct steps to follow.