GCB Curacao Gambling License
The gambling license issued by the Curacao authorities is one of the most profitable and affordable permits you can attain for starting your iGaming business. At TRUEiGTECH, we offer you the required support for obtaining the GCB Curacao Gambling License.
If you have plans to start your online gambling business in one of the most reputed jurisdictions, obtaining the GCB Curacao Gambling License can be your best bet. With low processing time and minimal tax rates, this license will align with most of your business requirements. To obtain this license, you must register your company in Curacao, prepare all the necessary documents, and abide by the rules of the regulator.
- Detailed Analytics & Reporting
- Improved Business Productivity
- Player Segmentation Supported
- 1005 Ownership of the Software
Everything About GCB Curacao Gambling License
Firstly, you must know thatCuracaoo is one of the self-governing states that falls under the Kingdom of the Netherlands. Due to this, the international exposure of Curacao is high, which opens its access to the European markets. But at the same time, Curacao also maintains its independence by curating its own tax policies and laws.
With respect to online gambling, Curacao grants only a single license that covers almost all types of gaming activities. Recently, the licensing system was reformed and a temporary license was made available. It goes by the name NOOGH or National Ordinance on Offshore Games of Hazard. Later, this license will convert into a full-fledged permit by the LOK or Landsverordering op de Kansspelen.
Master licenses are no longer being issued, and only this new format is being implemented by the gaming authority of Curacao.
Want to Know More? Let’s Connect & Discuss
Benefits of Availing of the GCB Curacao Gambling License
Faster Processing
Flexible and Simple Rules
Acquire a Universal License
Data Security and Legal Oversight
Taxation Perks
Insightful Monitoring & Reporting
Limitations of the GCB Curacao Gambling License
Alongside the perks, there are certain limitations of the GCB Curacao Gambling License that you must be aware of:
- With just this license, you won’t be legally fit to provide your services across the markets of the USA, France, and the Netherlands. This is because these countries do not recognize the GCB Curacao Gambling License. Instead, you can avail of license from jurisdictions such as Isle of Man or Malta for entering wider international markets.
- The new LOK framework of Curacao does strengthen the security and data protection measures. However, some players might still prefer platforms with jurisdictions that have even stricter security and privacy standards.
Requirements for Acquiring the Curacao Gambling License
Some priority requirements that you must consider in order to apply for and obtain the GCB Curacao Gambling License are:
- Your company must undergo registration with the Curacao registry. Following that, you must have a physical office address and a representative to discuss your licensing attributes with the regulatory authorities.
- You must provide a detailed description of all types of casino games that you offer, and make sure that they comply with the security and transparency requirements of GCB.
- Your iGaming website must also include terms & conditions, responsible gambling features, usage rules, restrictions for Curacao residents & minors, and complaint procedures.
- Uniquedomainsn is to be formed and registered with the GCB, as the license covers up to 40 major domains and opens the p scope of adding extra ones.
- Your iGaming company must also have AML (Anti-Money Laundering) and CFT (Countering the Financing of Terrorism) policies implemented. All the player accounts as well as transactions should be subject to being monitored regularly.
- Technical audits are mandatory for determining the present software status and reporting it to the GCB. You are required to report any security incidents or critical changes in periodic intervals.
- RNG (Random Number Generator) certificate is considered mandatory by the GCB for all the games that go into your platform. This certification ensures that the game outputs are all random and free from manipulation.
Process to Apply for GCB Curacao Gambling License
If you have decided to apply for your Curacao Gambling License to get started with your iGaming business, here are the steps that you must follow:
Register Your Company within Curacao Jurisdiction
The first step towards applying for the GCB Curacao Gambling License is to establish a legal company in the jurisdiction. It is because the license can only be issued to the companies that are legally registered to operate in this jurisdiction. You must also have a physical office address.
Prepare & File the Documents
Moving on, your company needs to prepare a complete set of documents, including business plans, incorporation documents, owners’ data, reputation references, and others. Following that, it is also important for you to provide information on business ownership structure and financial sources.
Apply Online Through the GCB Online Portal
Once you have the documents ready, you can submit your application through the online portal of GCB. In this step, you will be filling out forms, registering main domains, uploading documents, and completing other such tasks to finally send out the application for review.
Validation & Due Diligence Process
The GCB will then conduct a thorough due diligence process for verifying all the documents as well as the individuals associated with the organization. It is an important step to determine the financial stability, reputation, and security efforts of your iGaming company. This process involves thorough checks to validate security standards and prevent money laundering.
Pay the License Fees
To complete the licensing process, you must pay the required fee. The standard fee is around AND 120,000 per year, and can be paid at monthly installments of ANG 10,000. If you want to include additional domains, there will be an additional fee for the same.
Installation & Inspection of the iGaming Equipment
Your license must demonstrate that all the popular gaming software or equipment you use is adhering to international standards of security. Such solutions must also pass all the information security checks. This step is conducted on both virtual as well as physical equipment that you will be using for running your casino games.
Periodic Reporting & Timely License Renewal
Upon completion of all the steps, you will be provided with a one-year license, and you must renew it annually before the last date. Following that, you are also required to submit your regular reports to the GCB, and also comply with all the specified conditions, including updates on key persons and financial statements.
TRUEiGTECH is At Your Service to Guide You in acquiring a Curacao Gambling License!
FAQ's
The GCB Curacao Gambling License is an official permit or authorization for gambling firms to operate legally within the jurisdiction. Having this license will give a gambling business the reputation it needs to operate within the region, without any penalties due to violations.
To obtain a Curacao Gambling License, you must register your company in the jurisdiction and send out an application to GCB through the online portal. You can also request additional assistance from TRUEiGTECH, as our experts will guide you through the entire application process, and make sure all parameters are correctly highlighted.
Yes, online gambling is legal in Curacao. The government in the jurisdiction regulates the online gambling sector and ensures that all iGaming companies are adopting fair practices for conducting their businesses.
Depending on the application and the details submitted, it might take up to 2 months of time for you to obtain the Curacao Gambling License. In case of any information discrepancies, the time span might also increase.
No, players do not need any permit or license for gambling in the jurisdiction of Curacao. The licensing requirements are exclusively meant for the iGaming operators or businesses.