In-depth Analysis of Curaçao Gambling Licenses
Curaçao is amongst the most popular on line casino and politically stable iGaming regulators globally, having issued over 450 licenses to gambling operators through the entire years. We has vigilantly analyzed the advantages and disadvantages of utilizing a Curaçao gaming license and has established this article to clarify all of the areas of playing on a casino that works together with them.
At first sight, the Curaçao license offers exactly what a gaming platform needs – cost-efficiency, low renewal cost, no gambling taxes, And cryptocurrency payments.
But centered on our experience, this kind of license rarely adds to the standing of a casino and is considered weaker compared to the well-renowned Malta Gaming Authority license.
Without further ado, let’s jump right into the complete analysis of Curaçao gaming licenses:
History of online casinos in Curaçao
In 1993, the government of Curaçao enacted the first legislation in the world that was targeted at regulating the web gambling industry. In 1996, they created the Gaming License Authority, accountable for issuing licenses and supervising existing operators.
After the first license was granted to an on line gambling operator, the interest in Curaçao as a casino regulator increased, and lots of iGaming businesses started collaborating with them. By 2001, the federal government created the Curaçao Internet Gaming Association, which ensured that all casino operators were compliant with the code of conduct and the regulatory framework.
Nowadays, Curaçao is recognized as one of the primary regulators global, mainly because of its affordability, strong financial service sector, and easy acquisition. The us government has invested money and time to produce a business-friendly environment where offshore gambling corporations could have flexible structures and zero taxes.
Fun fact: Curaçao is commonly known as a tax haven, and it is qualified as an intermediary for the IRS and is compliant with the European Code of Conduct, which prevents unsafe tax practices.
Why does an online casino need a license?
Any reputable on line gambling operator that desires to operate internationally must hold a valid iGaming license. This way, they can provide their services to the majority of countries, create corporate settlement accounts, register with well-known banking providers, and fundamentally gain their consumers’ trust.
Operators who don’t choose to go for a license are essentially running their business illegally. They might get fined and even imprisoned. On top of that, most gamblers know already the risks of playing on an unregulated gaming platform, so their reputation will be stained, often producing a total shut down of the company.
Five reasons for operators to get a Curaçao license
You will find a large number of jurisdictions offering online gambling licenses. Still, Curaçao remains the first choice and one of the very recommended regulators. Let’s find out why!
- Fast and cost-effective – Predicated on our analysis, the acquisition process for a Curaçao license is the quickest one, provided that the applicant submits all the required documents correctly. The licensing process usually takes up to two business days following the papers have now been compiled. Businesses with tight deadlines will dsicover Curaçao the most efficient gambling regulator, especially because the maintenance costs are low and the setup is practically instant.
- It covers all the needs of a gambling operator – In comparison to other regulators who need you to obtain a license for specific casino games or include add-ons that really must be purchased to provide additional game classes, the Curaçao license covers most of the existing gaming activities within a license.
Including slots, lotto, poker, sports betting, eSports, scratch cards, and even live table games. Want to find out more about live dealer games? Check out our live casino section to get an in-depth overview of the most entertaining games available on the market.
- No taxes – All operators that get a Curaçao license will not pay any tax on the revenue, provided that all of the income is generated beyond your country. Despite having less zero tax rate than other jurisdictions, the international rules still apply. They’re fully compliant with the international taxation techniques.
- Easy to obtain – The procedure of applying for a license may be daunting since there is a whole lot of paperwork and supporting documents that take some time and extra money to compile. With Curaçao, the bureaucracy is limited, so that it makes the method of having licensed excessively simple.
- Ideal for startups and small businesses – Since its relatively simple for entrepreneurs to obtain practical a Curaçao gaming license, it is strongly recommended for anyone that are just starting to collaborate with them, since you get the likelihood to try the platform and get a customer base without having to pay a lot of money in taxes or additional fees.
Which institutions can issue Curaçao licenses?
The Curaçao Minister of Justice has exclusive control in granting licenses for on the web casinos issued by the overall Governor of Curaçao. Any operator wishing to obtain a gambling license has to apply for a sublicense.
In a nutshell, a sublicense is a one-size-fits-all deal that will permit the on the web casino to perform all sorts of gambling activities and get all of the necessary peripheral activities, such as for example service and software providers, network and platform operators, affiliate deals, advertisers and white-label operators.
Since its inception in 1996, the Curaçao Ministry of Justice granted only four On line Gaming Master Licenses to private companies, which may have the proper to issue the operator a sublicense.
Here are the four private license holders:
- Cyberluck Curaçao N.V. – found in the footer of the casino as license no. 1668/JAZ, this provider was fined before for allowing operators to provide their players pirated games with modified odds, along with advertising to people that were enlisted in self-exclusion programs. That is a red flag for players ready to join on the web casinos licensed by Cyberluck since it shows deficiencies in long-term involvement with the business.
- Gaming Services Provider N.V. – identified as license no. 365/JAZ, the corporation doesn’t inform you if they accept player complaints, despite the fact that their information is public on their site. After having a closer examination, we've identified that their official website doesn’t have SSL encryption, potentially a sign of a poorly administrated company. We’ve learned they have taken action against pirate casinos attempting to cheat the machine.
- Curaçao Interactive Licensing N.V. – found in the footer as license no. 5536, the corporation may be the least known from the list. Unlike other license providers, Interactive Licensing doesn’t offer an authenticity validator where people can check if the license is legit, which automatically minimizes the casino’s trust level. Instead, the casino operator attaches the contract they sign with the company. Still, there is no way to prove its authenticity. This demonstrates this license provider isn’t serious about its relationship with the casino. We weren’t even in a position to find their information.
- Antillephone N.V. – found in the footer as license no. 8048/JAZ, Antillephone N. V. may be the most common private licensing provider in Curaçao, but based on our analysis, we’ve identified that they are also minimal involved in the business. There's absolutely no method of ing their team or fill a complaint form, and they're going to issue licenses to anyone, so long as they are hosted in Curaçao, and so they pay their license fee promptly.
Regions where the license is valid
Despite being perhaps one of the most popular regulators globally, the Curaçao license isn't eligible using Curaçao. All jurisdictions have their legislation that can potentially limit the operator’s power to run their business under this license.
For example , in some countries, Curaçao casinos won’t have the ability to use local payment gateways or advertise their business without a valid local license, which means that you will have additional operational costs. Generally speaking, payments are an ever-moving target, therefore the rules may change overnight.
Based on the official Curaçao government internet site, the license may be legally used in any jurisdictions, except the next, where it is forbidden to work under Curaçao law: Aruba, Bonaire, Curaçao, France, Netherlands, Statia, Saba, Singapore, St. Maarten, And the USA.
As mentioned above, certain countries must have a local gambling license, including Poland, Hungary, the UK, Russia, Mexico, Bulgaria, Cyprus, Slovakia, and Norway. Failure to conform to the neighborhood regulations may possibly bring about the payment companies blocking funds from these regions.
Recommendation: Before you join a Curaçao licensed on the web casino, be sure you check its validity by tapping the license badge in the footer. If the license is invalid, you should avoid joining that platform.
What are the requirements for getting a license?
Casino operators which can be regulated by Curaçao must fulfill specific requirements before being issued a license. At CasinobonusCA, we review all of the on line platforms that operate under a Curaçao license. We use the government’s official requirements to determine if they're accordingly regulated.
Here are the papers that operators are required to provide to get a gaming license:
- Notarized copies of Passport;
- CV or resume;
- Certified copy of a utility bill;
- Proof of domain ownership;
- Original banker reference (the relationship must be longer than two years);
- Certificate of no criminal record;
- Professional Letter of Reference from a lawyer or accountant (relationship longer than two years);
- Software details, including agreements and third-party certification of RNG and fairness;
- Copy of the Terms and Conditions that must include responsible gaming policies, player KYC and underage gaming policy.
Please note: All the documents must be translated into English and not older than 90 days.
In addition , before trying to get the license, operators must have a Curaçao-based company, apply for a sublicense from a Master License holder, get approved on e-wallets and payment providers, and buy most of the necessary hardware and hosting services.
The cost of a Curaçao license
As the Curaçao gambling license costs might vary depending on the company’s exact requirements and needs, there is certainly a choice for every type of budgets. The us government of Curaçao realizes that every company is exclusive and has different structures, obligations, and procedures. Ergo, they created a flexible license which can be customized in line with the operator’s business needs.
The regulator will consider the product, the company’s goals, deadlines, and the budget and can create a custom package. Of course, the operator will offer full transparency on the cost and can do not have additional prices for services which are not required. The cost of getting regulated by Curaçao ranges between $4500 and $12500 annually and a one-time application fee of $1500.
Despite the fact that the Curaçao gaming license is highly efficient and lots of operators choose it due to the accessibility, we consider that this kind of regulation rarely enhances the on the web casinos’ trustworthiness.
We recommends avoiding casinos that operate under Curaçao gambling license whenever feasible or at least decide to try looking for a platform regulated by multiple gambling authorities.
In the event you still want to get a Curaçao licensed casino, ensure you check their footer and verify the license’s validity. If the license just isn't valid, you ought to avoid it at all costs, since an operator that couldn’t even hold a Curaçao license, that will be less limiting compared to the the others, can’t be trusted at all.
- Fast offshore – Curaçao gaming license
- Curaçao Egaming’s Official Website
- Curaçao Webhosting’s guide for getting licensed
- Offshore license – Obtaining a gambling license
- Yogonet – Quick guide for getting a Curaçao gambling license
- Curaçao sublicense company gets fined by Dutch regulator