Gibraltar is a small country located on the Iberian Peninsula. For the first time in Gibraltar began to issue licenses for gambling back in the 90s of the last century.
At the moment, Gibraltar – has independent legislation, is a member of the EU and is a jurisdiction where the licensing of online gambling establishments is considered one of the most developed and prestigious in the world. Back in 2005, the Gambling Act was issued – which controls and directs the work of companies and regulates the entire gambling business in this jurisdiction. In addition, after the adoption of this act, the country began to issue licenses for online gambling.
And after the adoption of this bill, Gibraltar quickly became one of the leaders in the European gaming industry.
Price policy. Tax rate
There is no fixed price for licensing; it ranges from 30-70 thousand dollars. It all depends on the size of the institution and the business plan. After approval, the institution receives a license for 5 years. Of course, then it can be easily extended. This pleasure costs only 2800 dollars.
Also pleased with the low tax rate, only 1% of the institution’s annual income, but cannot exceed 425 thousand pounds.
Gibraltar Value Added Tax (VAT) – NO
Of course, you can get a license for both online casinos and virtual halls with slot machines, sweepstakes, poker rooms, bookmaker services and so on. Corporate tax rate is set upon request, as soon as the institution is launched. This request is sent to the Office of Finance and the Development Secretariat.
Benefits of licensing in Gibraltar jurisdictions:
● You can become a full member of the EU market in the field of gambling, which will significantly increase the reputation of the owner of the institution.
● Tax of 1% of annual income.
● Owners of a facility in Gibraltar can use any type of bandwidth.
● Close cooperation with the administration of the country. Each owner of a large playground can count on benefits and guarantees from the leadership of Gibraltar.
● Licensed institutions may not think about possible amendments to the laws of the country. The most stable conditions and a reliable economy contribute to the rapid development of your project.
● Operators who want to buy a license for their institution may not worry about financial secrecy, they will be given access to the merchant account.
● Most of the payment transactions are not entered into the system, so they will never receive publicity.
● You can use not only the banks of the country, but also any other. Gibraltar is an ideal offshore zone where government agencies are trying to help develop any gambling business.
Every year, an increasing number of online gaming platforms are launched in the country. Over the past couple of years, many famous brands have moved to this jurisdiction.
For example, in 2013 alone, 25 companies appeared in the country that launched their own projects online and provided jobs for more than 2,000 people. Of course, the authorities could not help but react to this, making obtaining a local license as accessible and fast as possible. Of course, this does not cancel the existing rules and regulations, as well as the documents that need to be provided for licensing.
By the way, there is also issued an “indirect” license for Internet sites. Thanks to her, you can open a company acting as an intermediary. For example, an organization for installing software, creating slot machines, designing a portal, and so on.
Gibraltar Online Casino Licensing Requirements
Of course, the licensing supervisor has certain requirements and criteria. Almost always, when checking a potential candidate, attention is drawn to the financial situation of the organization and bank accounts, and after that a decision is made whether to license the project or not. In addition, the following requirements are presented:
● You must specify the name of all the creators of the company.
● Disclose detailed information about the head of the company (attach a copy of the charter of the founding meeting, where there will be information about the appointment of a person to a managerial position).
● Copies of passport pages of all holders of securities and founders of the company.
● Provide information on the availability of open bank accounts.
● Indicate the domain name of the site, inform which country the servers are located in. All technical part should work in a normal mode 24/7.
● Certificate of audit, which will indicate the high quality of software on your site.
● Recommendations from respected individuals associated with the financial industry of a non-resident country will not interfere.
Gibraltar is the perfect jurisdiction for any gaming business. Often this country is compared with Malta and other offshore states. In addition, the local administration is doing its best to help develop gambling companies and allows them to earn money.
Address and contact details of the regulatory body or government department
● Contact person: Executive Secretary for Financing and Development
● Address: fifth floor, 23 John Macintosh Square, Europort Office Center, Gibraltar
● Phone: (+350) 200072166
● Email: [email protected]