Publication date: 06 Mar 2023
To conduct gambling activities, you must obtain a license. One of the countries offering its licensing services is Curacao. It is an island in the Caribbean sea with an offshore minimal taxation zone. International gambling licenses have been issued here since 2001. The regulatory body for the gaming industry is the Curacao Internet Gaming Association (CIGA).
In 2020, Curacao began its online gambling reform. Amendments to the legislation are made on the basis of the Landspakket (State Package) agreement on financial support during the COVID-19 pandemic signed with the Netherlands. The reason for the necessary changes was the dubious reputation of several thousand operators who work under Curacao licenses around the world.
As part of the agreement, by March 1, 2021, the Curacao authorities must prepare a plan to create a single regulatory body in the gambling sector. Further licensing and application of sanctions to operators will be carried out by the same body.As part of the agreement, by March 1, 2021, the Curacao authorities must prepare a plan to create a single regulatory body in the gambling sector. Further licensing and application of sanctions to operators will be carried out by the same body.
There are currently two types of Curacao license: basic master license and sub-license. The difference is that the sublicense cannot be transferred to third parties. The rest of the license rights are the same. Most gambling business owners prefer the second option and more often get a sub-license from operators holding the main license. With both types of licenses, you can work around the world, except for Curacao itself, the USA, France and the Netherlands. The requirements for obtaining a casino license are minimal (getting a license in Malta is more difficult), the whole process takes from 2 to 4 weeks.
By September 1, 2021, licensed Curaçao providers operating outside the Kingdom must comply with the gambling laws of Curaçao and the country in which they operate. Thus, online casinos with a Curacao license will only be able to serve players from Curacao and several countries that have ratified the jurisdiction’s gambling license. The consequence of this may be a reduction in the sales market from billions of users to 160 thousand inhabitants of Curacao.
The third reform will affect the tax rates for operators’ profits. Under the terms of the agreement, the fiscal authorities of Curacao are required to levy gambling tax, corporate tax and license fees from all licensees.
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