The good news is that many jurisdictions on the web offer offshore licenses for online casinos, and their number is increasing. Each regulator comes with certain benefits and a couple of disadvantages that you should consider.
However, many experts agree that industry newcomers should start with Curacao as the best possible option. Curacao is cost-effective, meaning you’ll have to pay a lot less to get a license, compared to some other regulators. Moreover, this jurisdiction has a lot of experience with licensing online platforms, so it’s safe to say that you’ll get your license in a record amount of time.
Curacao’s most important thing is that it’s a reputable online gambling regulator, meaning this jurisdiction licenses a lot of popular platforms. Overall, players usually trust sites that possess a Curacao license.
Why Should You Get a License?
Every online gambling platform needs to be licensed and regulated by an official regulatory body. That way, it can show that there’s an authority that controls its operations, meaning no illegal operations are going on.
Moreover, having a license is required by law, as only licensed platforms can do business with other online gambling companies, such as software providers and more.
Ultimately, you’ll have an option to open settlement accounts, and even use many payment processors on your site.
What Do You Need to Get a License?
Obtaining a license means dealing with a lot of paperwork, and this also applies to Curacao. You’ll have to get a police clearance certificate and provide several ID documents. You must also submit a utility bill, a reference from a banker, and a letter of reference written by your accountant or lawyer.
On top of that, you’ll have to provide various responsible gambling and AML policies and the proof of domain ownership. Finally, you must submit copies for all software agreements, as well as the certificate for using the third-party RNG.
Costs of Acquiring a License from Curacao
Curacao is one of the most cost-effective regulators out there, meaning you’ll not be able to find a more affordable yet reputable authority anywhere else. Your price can vary depending on the license type and package you choose.
Apart from paying for the license for the first time, you’ll also have to pay small annual and renewal fees.
The best part is that Curacao doesn’t tax online gambling platforms, meaning you’ll have to pay 0% VAT and corporate venue. This is great if you’re a startup or an entrepreneur who is new to online gambling.
Conclusion
Curacao has a long and successful history of working with various businesses in the iGaming sphere. It has a lot of experience in the area and offers a modern working environment. Members of this authority are multilingual and experts in the field of online gambling. They are always ready to help you with obtaining your first license.
