Curaçao is a small island located off the coast of Venezuela. The Curaçao region is an excellent jurisdiction for new players in the online gambling market, one of the leaders in terms of quickly obtaining a license for conducting gambling activities.
The jurisdiction of Curaçao provides the most suitable conditions for small organizations that launch their first project in the world of online gambling sites. The controlling department introduced a small tax percentage, and in addition reduced market restrictions, which is well accepted by all companies. The key advantage is a simplified entry into jurisdiction, a quick license.
Curaçao Online Casino License
The game commission of Curaçao offers its customers specialized service packages, providing the opportunity not only to purchase a license, but also hosting the server at the lowest cost. The license is issued about 2-3 weeks after application. Of course, in special cases the process may be delayed.
Type of company organization in the field of virtual gambling: Limited liability company or private limited liability company.
On the island of Curaçao, a law is in force under which all online sites registered in this jurisdiction are required to pay 2% of their profits. In addition, do not forget about the separate tax on import duties and sales tax.
The current tax percentage (2%) will not be changed until 2026, when hearings on possible changes will be held. In addition, there is no additional game rate on the island.
Minimum authorized capital for a company
A minimum authorized capital is required for integration into the jurisdiction system of Curaçao. The amount of capital is prenegotiated at the stage of processing the application for a license. Almost always – this is a rather small amount, which positively affects the interest of small companies that have long wanted to launch their own online casino.
All security, including software protection, is guaranteed by the Master license (the holder of the Master license is the person who licenses all playgrounds in Curaçao).
If attackers find a loophole in the security software and use it to steal user deposits, the holder of the Master license guarantees a refund to all affected users.
The cost of the license is formed at the discretion of the owner of the Master license, and usually ranges from 1000 to 5600 dollars.
Curaçao’s current jurisdiction rules imply a 5-year license.
If the client is going to extend the license further, he will also have to pay, as for receiving a new one, the amount will be from 1000 to 5600 dollars. If over the past 5 years no serious violations have been recorded in the operation of the online casino, the extension can be activated automatically. The only factor that affects this is compliance with the laws of jurisdiction.
Bandwidth and server. Available bandwidth types:
● Multi-gigabit channel;
● International fiber optic lines;
● Self-healing network (operates 24/7, 365 days a year);
● Ability to copy and backup data.
The regulator, during the execution and submission of an application for a license, offers its customers its own facilities for hosting a casino site. In recent years, IT structures have been rapidly developing in Curaçao, so each server is equipped with a cluster security system, which has a positive effect on information security.
● The Random Number Generator must be certified.
● The Minister of Justice must authorize the integration of software on your institution’s website.
● The administration of the online casino is obliged to timely update the software and introduce new technologies.
● Protection of user information and contributions.
Financial operations taking place on the playground, in addition, the results of communication between users and the online institution (win transfers, correspondence with technical support, transactions, etc.) should be saved, and if required by the regulator, it should be provided for study.
Money laundering, fraud and other illegal actions in relation to online casinos
Any, even the smallest violation, is recorded by the supervisory authority and is immediately transferred to higher authorities for verification of compliance with the adopted legislation. Money laundering and other fraudulent schemes fall under the KYC policy, which applies to all online casinos located in the jurisdiction of Curaçao.
Do not forget about the territorial restrictions on the distribution of gambling content. Gambling and advertising on this subject is permitted exclusively in the Netherlands Antilles.
Government Department Contact Details:
Address: Ministry of Justice of the Netherlands Antilles.
Wilhelminaplein subway station, Curaçao, Netherlands Antilles.
Contact person: Herbert Kofi.
Email: [email protected]