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.

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.

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Benefits of Availing of the GCB Curacao Gambling License

Faster Processing

With the new licensing process adopted with respect to the Curacao Gaming Authority, the regulators aim to speed up the overall process. Due to the reformation and suspension clauses, the gambling license issuance process was slowed down for quite a while. But now, with the approval from NOOGH, the process has become swifter. There is an online portal available for operators to submit their licensing applications.

Flexible and Simple Rules

Curacao offers the new as well as established iGaming businesses a very lenient licensing system. Post this reform, the idea of authorities here is to simplify and modernize the procedures for all online gambling business operators. Thus, all the potential complexities associated with applying for a GCB Curacao Gambling License are removed.

Acquire a Universal License

With LOK in action, there are active plans for issuing a single GCB Curacao Gambling License that can cover diverse gambling activities across various jurisdictions. All gambling activities such as poker, lotteries, sports betting, and casinos can be offered with just a single license, eliminating the complex sub-license system. Thus, the Curacao license is now more centralized and structured.

Data Security and Legal Oversight

The Curacao GCB or Gaming Control Board looks after the strict requirements associated with the Curacao Gambling License. Protection of player data and availability of security features are priority requirements that are overseen by the GCB. Beyond that, it is mandatory for operators to ensure that all games are accessible to players in a secure environment.

Taxation Perks

Curacao offers tax conditions in favor of the iGaming operators. The overall tax rates are low, and there is no provision for VAT. Due to this, you will have a better chance of increasing your profits and utilizing the available resources for better development. It is one of the key reasons why the GCB Curacao Gambling License is popular in the industry.

Insightful Monitoring & Reporting

All the GCB Curacao Gambling License holders in the region are requested to maintain a distinct record of all the games and submit timely reports. Beyond that, they must also comply with all the administrative reporting necessities. Due to these rules, you can ensure that your iGaming business guarantees transparency and also complies with international standards.

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:

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:

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!

At TRUEiGTECH, we have all the required resources and knowledge to help guide you on how to acquire your Curacao Gambling License. Starting from sourcing all the required documents to filing the application, our experts will assist you throughout all the steps. If you are partnering with us to curate your custom casino software, we can include licensing assistance as part of our service package.  So, if you are new to the gaming world and are planning on establishing a legal entity in Curacao, TRUEiGTECH can help you in the process. Reach out to us to know more.

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.

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