A guide to iGaming companies in Curacao

Are you thinking of starting your own online gambling company? If so, you are making a smart move as the industry is booming, and there are plenty of great opportunities to be snapped up. But one of the first things you will need to do is get a gambling license to enable you to offer legal gambling to your players. There are many jurisdictions that offer gambling licenses, but one of the most popular is Curacao. Here is all you need to know about the Curacao gambling license and what you need to do to get it.

What do you need to set up a company?

If you want to set up a company in Curacao that will be linked to your gambling license, you need to provide a number of specific documents. These include an application, data on the source of income, a letter of reference from your bank, proof of address, ID documents and information about the company's activities. You will also need a company name that complies with local rules, company documents, a business establishment permit, a director’s license, details of your locally registered office, and a legal representative. Of course, requirements can always vary depending on your specific situation, but these are just some of the obligations you may be asked to fill. Be sure to check with your corporate service provider before you get the process underway.

What do you need for a gaming license?

The Curacao online gambling license is one of the most straightforward, cost-, and time-efficient. For startups and established brands alike, it offers reach, flexibility, and plenty of great benefits. You need a Curacao company to get it and go through the application process. This includes providing certified passport copies, proof of address, a police clearance certificate from your home country, a copy of your CV, a banking reference, a professional reference and details of the software you will use. This can include software agreements, licenses, and details of random number generator certification by a third party. You should also offer up proof of domain ownership and a copy of your underage gaming policy, responsible gaming policies and those relating to KYC and AML.

What is the process?

The process will depend on whether you go for a turnkey solution or a custom-created one. Either way, you will likely have to follow some of the steps below, although perhaps not all and not all in the same order.

1. First, you need to be sure that Curacao is the right jurisdiction for you. This decision should be based on your needs, requirements, vision and business plan, and who you want to target. It should also be decided with the expert guidance of a corporate service provider such as Fast Offshore.
2. Next, you must gather all the relevant paperwork to open a company and apply for a license. The documents are mentioned above, but there may be additional or less than discussed here. It is important to note that all should be translated into English, certified and apostilled where necessary and no older than three months.
3. All documents, applications, and relevant fee payments must be submitted to the authorities via your corporate service provider.
4. After the appropriate processing period, as well as any clarifications or additional requests being dealt with, the company and license will become active.
5. You can start operating your online casino!

How much does it cost?

In terms of cost, Curacao is one of the most efficient there. Setup and ongoing maintenance costs are affordable and accessible to all budgets, particularly those just starting. The total cost depends on whether you have a custom or turnkey solution and what kind of corporate services you require. Our turnkey solution is a great, cost-effective package that includes an offshore corporation, a European contracting company, a Curacao gambling license, a corporate account, a merchant account, payment processing accounts, and ongoing personalised assistance.

How long does it take?

From the moment you contact Fast Offshore to the moment you receive the go-ahead, it should take no longer than six weeks, but in some cases, it can take just two. This, of course, depends on your unique situation and the exact requirements you have. It also depends on you compiling all your documents correctly and submitting them to us on time.

What are the benefits?

There are numerous benefits to having a Curacao gambling license. They include:

• Quick set up time of between two to six from start to finish;
• One of the most cost-efficient licensing regimes both at the set-up the stage and in the long run;
• One license to cover all kinds of online gambling companies with no need for additional permits or licenses;
• A relatively simple set-up process, easy on bureaucracy and with easily achievable obligations;
• A hands-off regulatory approach meaning while there are rules in place, they do not hamper growth or place an unnecessary administrative burden on companies;
• Has a good reputation internationally;
• Zero tax payable on income derived outside of the country, just 2% on net gains;
• Payments for gambling sites are available with crypto and fiat;
• Opportunity to open bank accounts with the license in hand;
• No VAT;
• Progressive legislative system, strong legal system, political and economic stability;
• Great infrastructure and a well-established gaming services sector.

A Curacao gambling license is the perfect choice for startups or those who are looking to expand their business into other jurisdictions. Fast Offshore has been helping iGaming entrepreneurs for over 25 years, and we are well-versed in which jurisdiction is right for which kind of business. To discuss your options and your own personalised package for getting your online gambling company off the ground, contact us today!