Do you want to run an Online Gambling Website?
This license allows you to legally offer every eGame you can think of
As one of the first countries in the world Curacao offered gaming licenses to international entrepreneurs. This license is tried and tested; and is relatively easy to get.
It allows you to offer on your website every type of online game you want. If you're interested in running an online casino or any type of online gaming website, Curacao has a very attractive offer for you!
Advantages of the online gambling license in Curacao:
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Offer every type of online gaming product with just one license;
-> online casinos, sports betting, lotto, poker, bingo, and more.
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Profit from your gaming site with little taxes.
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Save money. Curacao is the least expensive of the big 3 licensing options.
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Save time. The license is easy to get. A fast and logical procedure.
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Keep your site humming for years with low annual fees and little paperwork.
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Benefit from innovative IT infrastructure—run your website without down-time.
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Do business under modern, compliant, well written and fair regulations
(written by people from- or trained in the Netherlands).
What is the Curacao E-Gaming Licence?
Curaçao E-Gaming is one of the oldest and most reputable providers of regulated E-Gaming services. Since 1996, Curacao E-Gaming has proudly served some of the most highly regarded E-Gaming operators and providers of services.
The island has a unique status as part of the Kingdom of the Netherlands. It offers the regulatory benefits of the EU, without being a part of the EU. More importantly, without being subject to Europe’s high tax rates.
Unlike other countries, Curacao offers one E-Gaming license that covers everything. How it is organized, is that there are only four organizations holding a ‘Master-License’. They act as franchises, and are responsible for issuing and overseeing sublicenses.
No new Master Licenses are approved, and the only real, and widely used option is what the industry calls a ‘sub-license’. However, the correct term is ‘IP’ (Information Provider). Through our long involvement in the industry, we work directly with three of four Master Licensors.
The Curacao E-Gaming IP license covers all forms of electronic gaming including games and services of skill, chance, betting, lotteries and casinos.
Types of products you can offer under this license:
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Online casino games (roulette, blackjack, slots - as examples)
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Sports betting Peer to peer games (poker, backgammon, Mah-jong, etc.)
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Mobile phone games, betting
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Live dealing
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Bingo
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Fantasy football (or similar)
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Various trading activity
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Pari-mutual and pool betting
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Network gaming
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Lotteries
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Trivia
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Common platforms
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Affiliate’s, Skins, Marketing services
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And more...
What do you need for this license work
We advise all our clients to start a company in one of the free zones on the island. This is the easiest and most tax efficient way to apply for the license.
If an “e-Zone company” holds the licence, this allows you to benefit from:
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0% tax on gross bets
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Favourable income tax*
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No VAT, Sales Tax or import duties
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No restriction on dividend withdrawals
So besides having the ability to offer every game imaginable, you can also start enjoying your (passive) income with very little taxes.
*Tax rules
As of January 1 st , 2020, Curacao changed from a worldwide tax system with exemptions for foreign permanent establishments and sales to foreign buyers, to a stricter territorial system where only income from a domestic enterprise is included in the taxable basis.
To determine whether income is considered domestic or foreign, the profit before indirect cost is allocated based on direct foreign and direct domestic expenses. For this reason the income tax rate is variable and depending on the set-up. We can ensure that Curacao remains a favourable tax regime. Make sure to ask us for the details.
Processing agent
Due to ongoing regulatory scrutiny, it is now next to impossible for offshore companies in jurisdictions such as Curacao to accept online payments, or open bank account to receive those online payments. Given the fact that you need to accept payments on your website before people can start playing, you need this crucial element: a payment processing agent, also known as a Payment Agent Company.
A processing agent is a company that is part of the structure which processes payments for your website. For this, it receives a small fee (to satisfy local tax rules). The best jurisdiction has a low tax rate, has experience with such arrangements, and offers access to a variety of credit-card payment providers. The best option for this is Cyprus.
Cyprus is a EU country and it has one of the lowest corporate tax rates of the developed world. It allows access to payment systems and its regulatory body accepts these set-ups. In order to start a business here you do need local substance, such as a director, a company secretary, and an accountant.
You might also consider using an experienced company to handle the day-to-day administration and management of the corporate structure; this way you can focus on the important matters promoting the platform and driving up revenues!
To summarize the structure
For this structure you need to set-up a company in Curacao, which acquires the license. This company then becomes the shareholder of a Cyprus company, which is set-up to process payments.
All the income in this structure passes through Cyprus, but flows directly to Curacao. Of the total income 3% is invoiced as management fee by the Cyprus company, which is then taxed at 12.5%. This is an effective tax rate on total income of 0.375%. The income of the Cyprus company is than distributed to the Curacao company. All profits in Curacao are taxed according to the arrangement mentioned above. From there, your profits can be freely distributed to you without withholding taxes on dividends.
As you can see, to offer gaming services requires some planning. But for the serious entrepreneur, this structure offers a solid low-tax legitimate way to offer gaming products that are massively in demand at the moment.
The Curacao E-Gaming Licence process
Step 1. Preliminary review of the activities
The first step is to complete a review of the activities done by us. This includes providing basic information about your activities, territories you will be targeting and domains/applications/software you are looking to license. This is a preliminary review and approval of your activities which is granted within 24 hours.
Step 2. Pre-Approval IP Application Form Submission
Upon confirmation that the activities are permitted a pre-application is submitted with the supporting documents to the Curacao E-Gaming authority together with a non-refundable fee. Depending on the Master Licensor the fee can range from 750 to 1,000 Euro..
Step 3. IP E-gaming License Approval
Once the approval is granted by the E-Gaming authority, applicants are required to settle all necessary one-off fees and deposits.
Step 4. Application Evaluation
At this stage we proceed to incorporate the e-Zone company through our authorised E-Gaming service provider.
While the e-Zone company is being incorporated, we work on gathering, preparing, reviewing and submitting all the required documents for the licence. At the same time, tech-teams proceed with the technical requirements.
Once the application is evaluated and all the requirements have been met, the license is approved and the authorities will issue the sub-licence certificate (game providers are required to have an RNG certification).
Step 5. Incorporation of Cyprus Payment Processing company
As a final step we set-up the Cyprus company, and proceed approaching Payment Processing Service providers depending on your target markets.
We are up to date with current trends and we also offer solutions for Crypto Payment processing. Once we are preliminary approved for the merchant accounts we proceed opening bank accounts for both Companies.
Congratulations. You are now in business!
If everything is done properly, we expect that the entire process can be done in 4 weeks.
Requirements
As this is a regulated business, there are requirements for this kind of operation. Of every authorized person, director, shareholder or beneficial owner of the structure, the following is needed:
Of the people involved:
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Certified Copy of Passport
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Original utility bill (or certified copy)
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Original bank reference letter (Relationship must be longer than 2 years)
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Original professional Letter of Reference (from accountant or lawyer, relationship must be longer than 2 years)
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CV
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Proof of no criminal record
Of the business:
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Details of gambling software and website ownership
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Copies of legal pages including responsible gaming policy, privacy policy, payment policy, and a plan to prevent under-age gambling and money-laundering
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Submit annual financial statements and reports
Why choose Internet Incorporate to obtain your E-Gaming Licence?
We’ve been working with the people in Curacao almost every day this past seven years and have come to know what they want and how they want it and pretty much the whole process by heart.
We can assist you with setting up just the right corporate structure to suit your needs. We guarantee a hassle-free application
We work fast and at reasonable costs. We assist you with bank and merchant account opening through our extensive network of banks and payment processors
Are you interested in obtaining a license for your online gaming website and want an experienced agent to help you obtain it?
...Then contact us by filling in the form below.