The gaming license is the first thing you should consider if you’re thinking about launching an online gambling business. A proper license will not only make your company legal but also show your customers they can trust you.
Now that we’ve resolved that, you might wonder where you can get such a permit and how much it will cost. Don’t worry; you’re in the right place. This article will discuss one of the most popular and revered gaming license issuers in the industry — Curacao Gaming Control Board — and the cost of its services.
What Is a Gaming License?
A gaming license is a legal document that allows its holder to run a real-money online gambling business legally. State authorities, like gaming control boards and commissions, are in charge of issuing permits for gambling activities within their jurisdictions. Each jurisdiction’s law stipulates a number of rules the licensee needs to follow to obtain and retain a license. Users tend to look for permits like these as a guarantee that the internet casino where they’d like to play is legitimate and financially stable.
Many countries, including the US, do not have any legislation regulating online gambling. So, a considerable number of internet gambling companies operate remotely. These businesses acquire their licenses from different regulators around the world. One of the most well-known gambling authorities of this type is the Curacao Gaming Control Board mentioned above.
Curacao Gaming License
Curacao is a small Dutch island in the Southern Caribbean Sea. The island legalized online gambling in 1993 and founded the Curacao Gaming Control Board in 1999. Since then, this regulatory body has overseen all gambling activities in the Curacao jurisdiction.
Today, the Curacao gaming license is one of the most coveted licenses in the industry. While there are many reasons behind its popularity, its cost might be the most relevant one.
How Much Does a Curacao Gaming License Cost?
Curacao gaming license cost depends on a variety of factors. It varies depending on how in-demand it is at a particular time, the size of the applicant’s business, and the scope of the services it offers. While we cannot give you an exact number, the price you can expect to pay for this gaming license ranges between $17,000 and $23,000.
This fee covers a whole set of services besides the actual permit. It includes the price of the process of opening and maintaining a banking account in Europe, registering an offshore company, hosting and servers rent, data storage services, management and consultation, and so forth.
Moreover, Curacao has a fair taxation system, so you won’t have to worry about high tax rates. The island’s corporate income and sales tax rates are only 2% and 6%, and there are no value-added taxes or taxes on bets. Plus, Curacao boasts an excellent legislative system and long-standing political stability, which adds a layer of trustworthiness.
Obtaining a Curacao Gaming License
As we mentioned in the beginning, there are numerous requirements that a business needs to meet to be able to obtain this type of document. Thankfully, some companies specialize in making this process easier for iGaming startups. For instance, GBO Licensing is a famous provider of this type of service. The Curacao gaming license cost, benefits & process by GBO is made simpler, quicker, and much less stressful. Visit this company’s site and learn more about the details behind their work if you’d like help with getting your license.
Having a valid gaming license is a must if you’re considering managing an online casino. The Curacao gaming license is an excellent choice because of its impeccable track record, reasonable fees, and low tax rates. If you’re still on the fence about this regulator, you can compare it with a US-based one here and make a more informed decision. There’s no shame in wanting to be sure. It’s your business, after all.