Receiving a gaming license on the island of Curacao.
Curaçao - a beautiful island on the Caribbean Sea, is part of the Kingdom of the Netherlands. The state of Curacao has a long and successful relationship with the gambling industry. The gambling industry on the island dates back to 1993 when the national gambling ordinance came into force. Just three years after that, in 1996, the island authorities start issuing gambling licenses. Low taxes, fast-growing iGaming sphere, high-quality infrastructure, all allowed Curacao to become an ideal offshore center for gambling business, as well as one of the most popular and respected jurisdictions for online casino licenses.
There are two types of licenses: basic and sublicenses. In the case of the basic license, the Minister of Justice is personally in charge of deciding on its issuance. In turn, holders of basic licenses have the right to issue an unlimited number of sublicenses at their discretion. The basic license issued once every 5 years, the sublicense is in turn tied to the owner of the basic license. Since 1996 there have been and still are only 4 base license holders, hence all online casino operators can probably only hope to get a sublicense.
Receiving a gaming license from Curacao is quite a complicated process, although the requirements vary depending on the holder of the basic license. So what does one need to provide to obtain this license? Owners of online casinos need to prove their level of trustworthiness and seriousness of their intentions in this business, as well as gather the necessary list of documents. In simple words, you should be an organization with a clear income and a reputation of a serious business partner. Sometimes, even the smallest detail can be a reason for the refusal in receiving the license, so be careful and check all the documents thoroughly.
The process of applying for a license consists of several stages, the first of which is the registration of a business organization on the island of Curaçao. Next, you are required to gather the entire list of necessary documents, submit an application, and pay the fees. Next, the organization with the basic license to which you have applied comes into play. It is up to them to deny or approve your application. If all the requirements are met, and your case successfully reviewed, you can start your online casino.
Gambling establishments licensed from the island of Curaçao have quite strong advantages compared to their competitors. It is security, the ability to conduct business legally, and a guarantor of reliability in the view of users. Having a license right away makes your business attractive in the eyes of partners and software vendors. The license of the island of paves the way to the possibility of opening a fully legal iGaming resource, of course, it is not a guarantee of 100% honesty of the organization, but it has become part of the ecosystem of the gambling business, and whether to get it or not is up to you to decide. We have tried to tell you about the advantages and downsides of this license, as well as how to get a gaming license in Curaçao in 2021.
