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The Origins and Growth of Online Gambling in Curacao

By  //  March 15, 2023

Regulating the nascent internet gaming industry, Curaçao enacted some of the earliest laws in the world in 1993. It wasn’t until 1996 that the government established the Gambling License Authority to be in charge of issuing gambling permits and keeping tabs on the business.

The popularity of Curaçao as a location to issue licenses to operate online gaming sites rose after the first license was given, leading to an expansion of the relevant laws. The Curaçao Online Gambling Association was established in 2001 with the goal of making sure all betting companies were following the rules.

It’s one of the biggest web gaming libraries. Reasons for this include low licensing costs and a simple buying procedure. All over the globe, iGaming companies choose this territory because of its powerful financial services industry, advanced telecoms infrastructure, and political and economic security. There are also many long-standing gambling establishments owned by foreign businesses that call the city home.

Curacao’s government has made significant efforts to make the island attractive to foreign gambling firms. This entails allowing for a wide variety of company forms to be established, as well as doing away with taxation entirely. Curaçao may be known as a “tax refuge,” but it actually follows the EU Code of Conduct against abusive tax practices. It is an OECD country that applies CTF and AML conformance and is a part of the Caribbean Financial Action Task Force on Money Fraud; it also has an IRS-approved middleman designation.

Who exactly is responsible for issuing sublicenses in Curacao?

Applying for a “sublicense” is the official means by which one can obtain a Curaçao Gaming License. In the beginning, only four Internet Gambling Master Licenses were issued by the Curaçao Ministry of Justice. These are the four authorized users:

  • Cyberluck Curacao N.V. #1668/JAZ
  • Gaming Services Provider N.V. #365/JAZ
  • Curacao Interactive Licensing N.V. #5536/JAZ
  • Antillephone NV #8048/JAZ

The master licensor will license the applicant if they meet the criteria. These criteria must be met initially and constantly. They cannot issue permits but can use the main license.

This license covers slots, tables, video poker, eSports, bingo, lotto, and bingo. The firm can offer iGaming dealer, software, and network services.

Guidelines for Applying for a Gambling License in Curacao

After choosing Curaçao for your gaming company, study casino permits. Fast Offshore starts with a basic training process to learn about you, your aims, your position, and your initial money. Before registering for online gaming, Curaçao needs this and other information.

You must also pass a “fit and proper” test and have no crime record. This document from your home country confirms that you have never been guilty of a crime. Your online gaming management expertise will be asked for. You can ask Fintech Harbor for help in obtaining a license.

The following papers are required to be submitted by each official, approved individual, stockholder, chairman, beneficial owner, and final beneficial owner:

  • Original Passports or Verified Copies (the pages with photo and signature)
  • Police Clearing Certificate/Certificate of No Criminal Record Authentic or Certified Copy of an Energy Statement
  • Application | Curriculum Vitae
  • Initial Financial Institutions Reference (Relationship must be longer than 2 years)
  • Accountant’s or Lawyer’s Authentic Official Reference Letter (Relationship must be longer than 2 years)
  • Information about the program, like copies of the license agreement and/or an independent verification that the random number generator works as advertised (if applicable)
  • Validation of name registration documents
  • Documents of the Terms and Conditions, which must include a policy on juvenile gambling, a policy on responsible gambling, and a know your customer (KYC) clause.

All paperwork must be in English and no more than 90 days outdated. Official English versions must be provided for any papers that are not written in English. https://prnt.sc/B22A99j79GZL.