OBTAINING A CASINO LICENSE

OBTAINING A CASINO LICENSE

A casino is an entertainment establishment that brings big profits to the owner. But in order to engage in the gambling industry legally, you need to obtain a license. The document is issued by special gaming commissions in various jurisdictions.

A gambling permit allows you to do business without the risk of fines or criminal penalties. Today we will consider the nuances of obtaining a license for an online casino.

Offshore jurisdictions have many advantages:

1. Attracting foreign players, accelerates development and increases the income of the institution.
2. Getting rid of double taxation has a positive effect on business.
3. Introduce more different currencies and payment systems to be used for depositing funds.

The best jurisdictions for casinos: are Curacao, Great Britain, Costa Rica, Latvia, Malta, Montenegro, Alderney, Romania, Antigua and Barbuda, Isle of Man, Kahnawake, and others.

In different countries, the requirements for the applicant are different, and the price of a casino license varies widely. The documents required for obtaining a license and the terms of consideration also differ.

Offshore casino license

To start gambling activities, you need to register a company and obtain a license agreement. To do this, it is better to contact experienced lawyers in order to avoid delays and problems due to minor nuances.

Top Jurisdictions

Malta. One of the most interesting jurisdictions belongs to the European Union. Allows you to connect to a merchant account and pay little taxes. Malta provides 4 types of licenses that cost from $ 50,000. You will also have to keep financial records and regularly pay taxes.

Alderney. The license allows direct processing from VISA and MasterCard cards. The document costs from 30,000 €, but it needs to be renewed annually, paying another 2,000 €. In order not to lose the license, it is necessary to provide casino reports and pay two taxes.

Kahnawake. Difficult jurisdiction, requires a lot of documents, payment of fees, and taxes. An activity permit costs 40,000 local money, as well as 40,000 are fees collected by the state. Renewal of the document costs 10,000 Canadian dollars – you need to pay every year. The main plus is high prestige.

Antigua and Barbuda . Allows you to obtain a license for various types of the gambling industry, and does not require the presence of a registered authorized capital. If the casino will only work with non-residents of Antigua and Barbuda, you will not have to pay taxes.

$ 25,000 and you will have to pay another $ 50,000 in fees every year. License renewal is paid. The high price of the document is necessary to attract honest entrepreneurs who will create a large project and guarantee the players the honesty and transparency of the game.

Isle of Man. Allows you to get a gambling license and pay 0.1–1.5% of the casino income. There is no capital gains tax.

The requirements for obtaining are standard – registration on the Isle of Man, the presence of two officially registered directors, mandatory registration of players on the servers of this region, and holding only certified games. In addition, special requirements will apply to owners of more than 5 different companies.

Conclusion

A license for the gambling industry is a valuable document that opens up wide opportunities for entrepreneurial activity. By legalizing a casino in one of the above jurisdictions, you will get the opportunity to openly develop the company, attracting customers from different countries. The risk of incurring responsibility for illegal activities will disappear.

If you do not know how to properly apply for a license and how to organize your business correctly, please contact our lawyers.