Head of International Corporate Law and Fintech Practice
Expert in fintech, crypto, and international corporate law with over 20 years of experience. Specializes in crypto licensing (VASP/CASP), iGaming business support, and international structuring, asset protection, and OSINT analytics for risk assessment and due diligence.
OBTAINING A LOTTERY LICENSE IN CURACAO
Since 1996, the island of Curacao has been considered a territory with loyal regulation of the I-Gaming sphere, which includes, among other things, lotteries. Political stability and transparency of state regulation in this area creates comfortable conditions for companies wishing to obtain a license. Our lawyers are ready to help you with this. We offer both consultations and legal support for opening a license. During the consultation, you can get an answer to all your important questions and weigh all the pros and cons. As for legal support, we work for the result and provide all the necessary legal assistance so that you get a license.
Why Curacao is a Good Choice
- This island is considered one of the most stable jurisdictions for starting this kind of business.
- The cost of obtaining a license permit is quite loyal.
- The island of Curacao has a progressive regulatory system, as well as economic stability.
- The regulation of this business in Curacao is not as strict as in many other countries, which also have a reputation for reliable jurisdictions.
- The IT infrastructure is sufficiently developed to make it profitable to open a company in the online lottery segment.
What are the advantages of a license obtained in Curacao
The lottery license extends, among other things, to the providers of the required software, platform operators and affiliated companies. That is why this jurisdiction is chosen by many clients. And the procedure for obtaining a license is quite clear, transparent and understandable. With the help of our team, everything happens in the following algorithm:
- We draw up an application and send it to the licensing authority.
- Next, we give a corresponding report on compliance with all requirements.
- We fill out and submit the application form with the entire package of related documents.
When all this is done, all that remains is to pay the license fee. Sometimes clients have a question whether it happens that this stage is slowed down or goes wrong. If you carefully prepare all the accompanying documents and correctly fill out the application and the questionnaire, this should not happen. But if there are inconsistencies somewhere that the authorized commission considering the application has found, it sends the necessary improvements to the checklist.
Why our help is useful
We will help you navigate the exact cost of an annual license. It can be from 4,500 to 12,500 euros. By the way, other jurisdictions offer this service much more expensive. You will also need to pay a registration fee of 1500 euros.
In addition to a more favorable cost of granting a license, Curacao offers a loyal tax regime. Our lawyers will guide you in detail in all significant aspects of taxation to make it easier for you to understand.
What are the difficulties in obtaining a license
Despite the loyalty of regulation mentioned above, there are a number of aspects that are difficult to take care of on your own, but should be entrusted to professional lawyers. For example, this is the preparation of documents. Each official and authorized person, shareholder, manager and ultimate beneficial owner of such a business must provide a certain list of documents. Among them:
- Certified photocopies of the passport (pages with photo and signature). This is a key document, the need for which is obvious.
- Certificate of no criminal record. In this jurisdiction, they care about compliance with the law and the reliability of entrepreneurs starting such a business.
- CV / Resume, where all the necessary information will be indicated.
- Original letter of recommendation from an accountant or lawyer (the relationship must last more than 2 years).
- Detailed software information, including copies of software agreements. For online lotteries, this is very important.
- Domain ownership confirmation. Here, the motivation of the inspection bodies is similar to that mentioned in the previous paragraph.
- Copies of the Terms and Conditions, which must include the Underage Game Rules and Responsible Gaming Policy.
It is quite difficult to prepare all this on your own, and our team does it efficiently and quickly, because it has experience in this field.
Summing up
If you want to get a license to operate a lottery company, there are several factors to consider:
Question price. Each state sets its own tariffs for this business.
The reputation of the jurisdiction. It is important that the law operates there transparently, and all business entities are protected before it.
The level of tightening of state regulation of the industry. The more loyal it is, the better for the business itself.
In all these aspects, Curacao is an excellent choice. Prikhodko & Partners specialists will advise you on all necessary issues, as well as help you obtain a license in this jurisdiction.
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