How Much Does the Curacao Gaming License Cost?
Online businesses and companies wanting to operate or manage any gambling activities lawfully require a license. Such a license allows its holder to run an online operation within a certain jurisdiction, such as Curacao. However, such licenses can prove extremely costly due to their many benefits. That’s why we’ll focus on delivering thorough information about one of the most sought-after licenses in the online gambling sector, including its cost. Let’s dive in.
What Is a Curacao Gaming License?
Curacao is a well-known gambler’s paradise. The island’s government founded the Curacao Gaming Control Board (GCB) in 1996 with the purpose of regulating and overseeing all gaming activities taking place on and from the island. As one of the oldest jurisdictions in the industry, it has issued over 400 licenses worldwide, and that number continues to grow.
So, what makes this license so special? Well, among numerous reasons, the Curacao gaming license cost prevails. Let’s find out more.
Curacao Gaming License Types and Costs
Before we move on to the actual cost, take a look at the two types of licenses you can obtain from this gambling authority:
Master license — This legal document gives its holder permissions to both operate a gambling business and issue sub-licenses to other operators within the jurisdiction of Curacao. All third-party operators who hold sub-licenses will be subject to the same terms and conditions and share the same license number. Master licenses are very hard to procure as only four have been obtained in more than two decades.
Sub-license — This permit grants its holder the right to run an online gambling business within the Curacao jurisdiction but not issue sub-licenses itself. So, this type of document is sometimes referred to as a single-instance license.
Cost of Curacao Gaming License
The cost of a Curacao gaming license varies based on demand. It ranges from around $17,000 to $23,000, depending on the size of your business and the services you offer.
This amount covers the costs of an offshore company registration, a European bank account, hosting services and server space, the company’s management during the first year, and other administrative fees. In addition to this, licensees have to pay an annual fee for holding and maintaining the permit, and also its renewal.
Furthermore, there are a few other tax-related expenses that iGaming startups need to cover. Every country has its own taxation system, some more and some less rigorous. Fortunately, Curacao’s jurisdiction belongs to the second group with fairly flexible tax laws. Its corporate income tax is 2% and its sales income tax is only 6% per year. You’ll be able to see how affordable this rate is if you compare it to that of other similar jurisdictions.
How to Apply for a Curacao Gaming License?
Applying for an online gaming license can be a long and exhausting process. While Curacao might not have extremely strict terms as some other regulators, you still need to meet numerous conditions. So, a huge number of up-and-coming gambling companies choose to get help in this department. GBO licensing specializes in helping new operators fulfill all the necessary requirements and get the mentioned permit easily. You can get more information about all its services on its website if you want to speed up this tedious procedure.
If you’re new to the gambling laws and licenses world, you can read more about them here and then come back to make your final decision. Not only does the Curacao jurisdiction have a long-standing history in the industry, but it also offers affordable permits. The mentioned expenses include the legal document itself and several other services to help manage your new business. However, Curacao’s low income and sales tax rates are what seems to seal the deal for most.
There’s no need to rush, though — take your time to find out what’s right for you. We’re sure you’ll conclude that Curacao looks like a great option.
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