Curacao Gambling License & GCB Approval for online casino operators

Curacao is a part of the Netherlands with its civil law system heavily influenced by Dutch laws. Having a Curacao gaming license is a popular choice among startups. The advantage of this license is a low regulatory barrier to entry and economic benefits.

It is important not to forget about upcoming changes as the government updates its gambling legislation. This is especially true for remote gambling to ensure that everything works in accordance with international standards and does not allow illegal gambling. The Curacao Gambling Authority is a new independent regulatory body, showing what these changes entail. In addition, existing Curacao license types will be revised.

Advantages of working with Prifinance:

Advantages of a Curacao Gambling License

A modern business environment with excellent infrastructure, telecommunications and the Internet is all about Curaçao. In addition, it guarantees reliable financial services and an attractive legal system. The process of establishing a licensed gambling company has minimal bureaucracy and, most importantly, is fast.

Tax environment

• The tax system is highly competitive and complies with international rules.
• In the online e-zone, companies have to pay a 2% tax that is applied to net profit, while gross gaming income is not taxed.
• In addition, there is a VAT exemption.

Payment options

• With a Curacao gambling license, you can access secure payment methods such as credit and debit cards, check deposits, and cryptocurrencies.
• Thanks to cryptocurrencies, operators can avoid commissions.

Technical requirements

Gambling licensees can use beta-tested slots and RNG.

Freedom of Enterprise

• Before operating in a stricter jurisdiction, beginners can try out their business ideas in a regulated environment.

You can reinvest more funds in business development, iteration of gambling products, and product range expansion without having to hold multiple licenses.

Curacao Gambling Regulations Overview

The Curacao Gaming Control Board (GCB) oversees land-based casinos, lotteries, charity bingo, and online gaming operators, ensuring compliance with anti-money laundering and counter-terrorism financing regulations. The aim is to uphold industry stability, integrity, and public interests, fostering honest and competitive gambling practices.

Applicable Legislation and Regulations

• National Ordinance Curacao Casino Sector (AB 1999, No. 97) – Land-based casinos
• Lottery Ordinance 1909 (AB 1965, No. 85, z.g.) – Numbers lotteries
• Goods Lottery Ordinance 1909 – Goods Lottery
• National Ordinance Games of Hazard II 1988 – Bingo, Bon ku Né, and others
• National Ordinance on the National Lottery 1949 – National Lottery
• Online Gaming National Ordinance on Offshore Games of Hazard (P.B. 1993, No. 63) – Online gambling
• National Ordinance on Identification When Rendering Services (LID)
• National Ordinance on the Reporting of Unusual Transactions (LMOT)
• Regulations for Anti-Money Laundering and Combating the Financing of Terrorism 2016
• Regulations for Card Games 2016
• Regulations for Live Bingo Operations 2016
• GCB License Regulation on Sports Betting 2013
• GCB-Guideline Responsible Gaming 2012

AML/CFT Regulations

• Detail customer identification and due diligence procedures
• Specify policies for unusual transactions
• Mandate the appointment of a compliance officer
• Establish other relevant processes and requirements

Each casino‘s senior management must issue a policy statement committing to combat misuse for money laundering and terrorist financing, fostering trust in the industry and the jurisdiction for enhanced business success. The Ministry of Finance and the Financial Intelligence Unit are also responsible for supervising the gambling industry.

Features

There are two types of gambling licenses – the Master License and the Sub-License:

Master License:

1. Valid for five years.
2. Authorizes all gambling activities.
3. Allows granting Sub-Licenses.
4. Not available for new applicants.

Sub-License:

1. Authorizes all gambling activities.
2. Valid as long as linked Master License is valid.

Master License Holders (Authorized since 1996):

1. Antillephone N.V. #8048/JAZ
2. Curacao Interactive Licensing N.V. (CIL) #5536/JAZ
3. Cyberluck Curacao N.V. (Curacao-eGaming) #1668/JAZ
4. Gaming Curacao #365/JAZ

Consumer Protection Policies:

1. Master licensees have individual policies for consumer protection.
2. Antillephone N.V. is considered the most reliable, pioneering cryptocurrency payment.

Benefits of Curacao Gambling License:

1. Acquire software from leading manufacturers.
2. Integrate customized payment systems for diverse transactions.

Build customer trust, signaling the ability to pay out winnings.

Curacao and Malta Gambling Licenses

To obtain a Curacao gambling license, establish a local gaming company, provide detailed game descriptions, add “Terms of Use” to the site, create a domain, use at least one physical server in Curacao, develop AML policies, conduct software audits, and obtain an RNG certificate for game fairness.

For a Malta gambling license, legally establish the company in Malta, develop a robust infrastructure, deploy an MGA-compliant risk management framework, maintain a reputable status, possess adequate financial reserves, implement privacy safeguards and AML protocols, submit to regulatory audits, and ensure a significant portion of operations and assets are in Malta.

Curacao Gambling License Requirements

Getting a license to open a casino in Curacao is straightforward, especially for startups. Here are key points to consider:

• Establish a new company in Curacao.
• Identify involved persons, business model, residence, and fund origins.
• Fees vary based on Master License holder requirements.
• Applicants must be at least 18 years old.
• Have at least one server in Curacao.
• AML/CFT Compliance: Implement internal processes aligned with regulations.
• Use certified gaming software.
• Conduct audits for software and hardware.
• Directors and shareholders undergo suitability tests.
• Implement processes following relevant regulations.
• Appoint an internal officer for AML/CFT compliance.

Document Requirements:

Shareholders, directors, and beneficial owners need to provide various documents:

• Passports
• Proof of address
• CVs
• Financial standing proof
• Police certificates
• Bank and professional reference letters
• Personal license application forms

Company Documents:

• Memorandum of Association
• Articles of Association
• Business plan
• Software agreements
• Proof of domain ownership
• Game descriptions
• Terms & Conditions
• Jurisdiction list.

Establishing a Company and Applying for a Curacao Gambling License

Establishing a New Company in Curacao

Company Types:

Choose between N.V. (Public Limited Liability Company) or B.V. (Private Limited Liability Company) for your company.

Requirements:

1. At least one Curacao-resident director.
2. At least one shareholder (no residency requirement).
3. Local point of contact for business correspondence.
4. Hold an annual shareholders’ meeting in Curacao.

Steps:

1. Choose a compliant company name.
2. Prepare the required documents.
3. Obtain a registered business address in the e-zone.
4. Submit the registration form and documents to the Curacao Chamber of Commerce.
5. Appoint a local representative or resident managing director.
6. Required Documents:
7. Certified copies of passports for shareholders and directors.
8. Proof of address for shareholders and directors.
9. Proof of registered office address in Curacao.
10. Articles of Association.

Applying for a Curacao Gambling License

1. Prepare all required documents.
2. Complete fit and proper tests and background checks.
3. Submit application and documents to the GCB.
4. Transfer the application fee.
5. Finalize domain name, server, and gambling platform if applicable.
6. Master License holder’s technical compliance team reviews software and hardware if applicable.

Once verified, a Sub-License is granted.

Curacao’s Gaming License Evolution

In 2023, Curacao will update its gambling licensing system and introduce B2C licenses for operators and B2B licenses for providers. This emphasizes global standards, as the change will replace the previous system of Master and Sublicenses.

1. Local Presence Requirements:

A shift to three or more key personnel requiring a physical office in Curacao within five years.

2. Transition Period for Existing Licensees:

• A generous 18-month grace period granted for existing licensees.
• Application for new Curacao online gambling licenses required three months before the law change.

3. National Gambling Ordinance (LOK):

• LOK Gaming License introduced for online gaming.
• Establishment of the Curacao Gaming Authority (CGA) for regulatory oversight.

The new structure aims to achieve a balance of attractiveness for clients with international standards starting September 1, 2023. The transition phase will take the necessary steps to maintain professional relationships with existing licensees. Since the law’s adoption, an 18-month grace period is granted to qualified companies for applications for new licenses within three months. To promote a safe and regulated gaming environment, the CGA simplifies the application process, with decisions made in 8-12 weeks.

Changes (Post-September 1, 2023)

The GCB (Curacao Gambling Control Board) is taking a new approach to licensing. Thus, new Curacao gambling licenses will be issued directly to operators, with the exception of sublicenses.

1. New license holders cannot issue sub-licenses, adhering to tightened industry rules.
2. The National Gambling Ordinance (LOK) enforced comprehensive reforms.
3. Emphasis on anti-money laundering, fraud prevention, and player protection.
4. Introduction of a new regulatory body, the Curacao Gaming Authority.
5. Focus on preventing and mitigating undesirable and illegal actions in the industry.
6. Finance Minister Javier Silvania emphasized transparency in fund sources.
7. Operators are urged to comply with authoritative jurisdictions and international laws.

Before the September 1 implementation, the Advisory Council reviewed LOK, reinforcing Curacao‘s commitment to align with evolving industry standards. The slow-paced reform in Curacao, a constitutional monarchy within the Netherlands, seeks to balance industry dynamics with enhanced transparency and accountability, especially against money laundering.

FAQ

What is the Key Difference between Curacao and Malta Gaming Licenses?

In the case of a Maltese license, all expenses will require more money, including opening, government fees, and taxes. In addition, Malta has four main licenses, each responsible for different activities, unlike the Curacao gambling license.

What Difficulties May Arise in the Licensing of Gambling Businesses in Curacao?

The country has a fairly simple licensing process, but one way or another, everyone will be thoroughly checked and subject to clear requirements. If you are well prepared, follow the rules, and demonstrate a commitment to conducting this activity responsibly, it will be easier to obtain casino license in Curacao.

What is the annual fee for a Curacao gambling license?

It all depends on the type of gambling activity and how many transactions will be carried out.

Is the Curacao gambling business subject to audit?

Yes, regular audits are required for holders of the license for commercial online games in Curacao. The license issuing authority conducts inspections to ensure compliance with regulatory requirements and ensure the integrity of games.