Curacao eGaming - Casino License
Curacao is a jurisdiction that is under Netherland Antilles, off the South American coast. Since 1993, it has been offering eGaming licences and this makes it one of the first jurisdictions to do so. This has attracted companies from other parts of the world as a result of their low tax rates. Click here to find out more about the games.
Rules and Regulations
The rates are an attractive 2% of the profit and not of the turnover, which is a strong reason to operate here. Whilst a number of the casinos that have bad reputation are usually licensed in Curacao, there are also a number of good ones, and there have been some improvements in recent years to the regulation process. Licensing of the eGaming sites is actually one of the simpler processes out there and is outlined below.
Registration Process for Licenses
To get the Curacao eGaming licence, you will need to begin by requesting an application form. You will then need to submit the required documents either in person or by courier. You should also pay the required application fee. After this, the compliance team will begin processing the application. If the documents submitted are not complete or not in compliance with the requirements, you will be advised and provided with a checklist on what you need to provide.
Every applicant is taken through an in-depth assessment so that licences can only be given to the applicants who can show their financial standings and integrity. After your casino has been approved, you will be issued with the licence and they will regularly check to confirm that you are always following rules.
Different Casino Licenses
There are two types of licences that are issued by the relevant licensing bodies in Curacao. The basic licence in Curacao is known as Master licence. There are only 3 Master licences holders whose role is to issue the sub-licences and offer support to the licence holders. The aim of this type of licence is to remove bureaucracy. You can theoretically become a Master licence holder but practically, this is impossible as the market has already being monopolised.
The other type of licence is the sub-licence. There are certain conditions that must be met before the agent can issue the sub-licence. Only a Master licence holder can issue a sub-licence. A sub-licence doesn't allow you to assign rights to other operators. For you to operate gaming activities, only one licence is needed.
Responsible Gambling on the Internet
According to the Curacao E-gaming Licensing Authority, there are many new online casinos that are seeking for a licence to operate in the jurisdiction. Each of these casinos is required to strictly adhere to the requirements of responsible gaming. The casino is also supposed to verify the location or residence of the gamer.
Only players who are over the age of 18 years are allowed to play. If a player is considered to have a history of gambling addiction, the casino is supposed to help the player. As a member of the Caribbean Financial Action Task Force, Curacao has committed to implementing the regulations and recommendations of the body. The goal of these regulations is to improve the quality of services offered by the casino industry.