If you know anything about gambling and gaming licenses, you might have heard only two gaming authority names off the top of your head: your own national gaming authority and the Curacao Gaming Control Board. That is because the Curacao Gaming Control Board is one of the biggest distributors of gaming licenses in the world. Why? What makes the Curacao gaming license so coveted by online casino operators? We explore here.
A wider reach
A Curacao gaming license is an offshore license, which offers a lot of benefits up front. It can be obtained on top of or instead of your business’ national gaming license, offering you more areas to expand. With a Curacao gaming license, you can target an audience looking for offshore casinos almost anywhere in the world, rather than being confined to your original audience. Your business is sure to expand with players paying to play from various countries. There are some forbidden countries to the Curacao gaming license, including Curacao itself, Belize, the UK, the US, Germany, and the Netherlands, but other than those players from other countries are able to play on your online casino.
An easier application process
The Curacao gaming license was designed to be a lot simpler than typical gaming licenses from governments. There are less documents, no need for a physical presence, and lower up front application fees. All this makes for a more attractive application process to business owners when compared to other national gaming licenses that ask for high upfront fees and high ongoing taxes.
One size fits all
The Curacao gaming license is also defined by its one size fits all nature. Where other gaming licenses hand out separate permits for slots, lotteries, sports betting, etc. Curacao covers it all in one license. If you want to expand your gambling options to attract more customers, a Curacao gaming license will allow you to grow your business without reapplying for different licenses.
Lower taxes
The Curacao Gaming Control Board also asks for a tax rate of zero from gambling companies operating in Curacao and 0% on corporate tax. Any revenue you make outside the country will be untaxable. Plus, these tax rates are still within international rules. As long as you remain within the parameters of the compliance regulations of the Curacao Gaming Control Board you will be doing everything above board. Your operation will be, and remain, legal and will be able to continue operating under the Curacao gaming license.
Conclusion – A good option for start ups
All of these points bring us to the conclusion that the Curacao gaming license is a good option for entrepreneurs looking to get into the iGaming business. Online casino startups can get their first foot on the ladder with the use of a simpler application process and lower application fees to get started. Once they have that foot on the ladder the fact that a Curacao gaming licence is an offshore license will be beneficial to you in attracting new customers from all over the world with a low tax rate which helps your business grow.
