LRS Global can assist clients with the license application including the setting up of a company and submission of all forms, manage all KYC requirements, draft the AML procedures, responsible gaming measures and make sure that the client follows high standards of player protection.   LRS Global can also assist with white label casinos and all banking requirements.

REASONS for CHOOSING CURACAO

• Fast processing of application and relatively easy to set up (6weeks to 8 weeks);
• Competitive license fees;
• Favorable tax regime;
• One license for all gambling services including Casino, sports betting and lottery;
• Jurisdiction of reputation and flexibility.

FROM NOOGH to LOK

Curacao is the oldest and largest online gaming jurisdiction in the world. Since 1999 thousands of operators have made Curacao their base. After serving the industry for so many years, the government of Curacao is currently in the process of modernizing the regulations, so they are in line with today’s standards and practices.

Throughout the year 2023 a new regulatory framework in gambling was being discussed followed by the presentation of the legislation to Parliament in December 2023.  Over the upcoming weeks in line with standard parliamentary process there will be two readings of the bill and subsequently a vote of passage.

In the meantime, the Gaming Control Board, the body responsible for licensing in Curacao opened its doors to gaming licenses last November, ending the long-established arrangement structure of Master Licensors / sublicensee.

From this point forward new applicants will have a direct relationship with the regulatory – and of course enjoy all the benefits of this.  Presently the term “sublicensee” is a misnomer as the setup is merely a contractual arrangement with the actual license holder.  This means that the actual operator is not in full control of their players or their funds.  Direct licensing changes this and puts all the control in the hands of the actual business owner.

Anyone who wishes to operator in Curacao can now obtain a gaming license directly from the Gaming Board.

REQUIREMENTS

• Incorporate a Curacao company;
• Appoint a local director;
• Complete three application forms and submit them on the GCB’s Online Portal:
  1. Online Gaming Application: A summary of business operations and processes.
  2. Personal Declaration: Identity and verification of UBOs of the Curacao entity who hold 10% or more of the business.
  3. Business and Corporate Information on the licensed entity (i.e., The Curacao registered company applying for the license.
• The forms are uploaded on to a Licensee Account, along with supporting documentation including for example information on the identity and source of wealth of the UBOs, a business plan with three year financial forecasting along the standard identification documents for the key individuals (passport, proof of address, criminal record, etc.);
• Gaming descriptions are required along with proof of domain ownership;
• Provide detailed gaming descriptions;
• Proof of domain ownership;
• Policies required by license holders are:
  1. Anti-Money Laundering
  2. Player Account Management
  3. Information Security
• Once a fully completed and correct application has been received the GCB will respond with their licensing decision within 8 weeks.

THE PROCESS

• Company incorporation;
• Appoint local representatives;
• Prepare all forms and documents and file an application;
• Open a bank account.

FEE STRUCTURE

The Total Annual fee amounts to 120,000 ANG.   There is no Gross Profit Tax or revenue share. A further 500 ANG is paid annually for each domain.  A company can have an unlimited number of domains.

NOTE: The ANG is pegged to the US Dollar at 1.79