How to get a Curacao iGaming License in 2023?

how-to-get-a-curacao-igaming-license-in-2023?

Applying for a gaming license can be a disheartening experience with a shedload of bureaucratic requirements and annoying policies. Nonetheless, the Curacao gaming license does not fall into the same line. Because of its effectiveness and affordability, Curacao can be an ideal choice for startups and new operators setting their foot in the iGaming market. In this article, we will explain how to get a gambling license in Curacao and its main advantages and benefits. 

Curacao is one of the most hassle-free and accessible jurisdictions for licensing your online casino. The time for the license acquisition is one of the shortest and does not require lengthy, tedious procedures. Furthermore, Curacao offers a universal, all-including license, which fits all types of games and does not compel you to get different licenses for various casino services, such as sports betting, live games, e-sports, slot games, etc.

All of this, combined with cost-efficiency, creates a favorable and supportive environment for new operators willing to enter the online gaming market legally and as soon as possible. Suppose you are counting your first steps in the blooming iGaming industry. In that case, a Curacao gaming license is probably the perfect fit for your business, which can turn your aspirations into reality in the shortest amount of time. 

Application process

The application process itself is easy. It might take as little of your time as 1-2 weeks or might require 6 weeks at maximum. The first thing that you need to do is to find the master license holder, which can grant you access to the Curacao igaming sublicense. After contacting the master license holder, their technical compliance team will thoroughly review and test your website. There will also be a fit and proper test to verify that you are qualified enough to run and operate an online casino.

Currently, there are four companies that possess the master license:

After paying the application fee and submitting an application for a Curacao gaming license, you just have to wait for the final result while all the necessary tests are conducted and checks are made.

You are paying the application fee to one of the master license holders. However, the Finance Minister of Curacao has stated that the procedure might change from 2023 – there may not be the necessity to apply to master license holders to acquire the Curacao license, and the government will directly issue B2B and B2C licenses to overhaul the process of iGaming licensing.

Eligibility Criteria

Licensing process for Curacao is easier than in many other jurisdictions, but the application process is not a never-failing initiative. If you won’t be careful and omit some important eligibility criteria details, your application can be turned down. To get a license, you must incorporate a business in Curacao, which means that your business must be registered under the jurisdiction of the Island. Then, you’ll need to collect all the paperwork, submit the application, and pay the application fee. Below you can see all the eligibility criteria that have to be met to obtain a license:

  • Your iGaming business must be registered in Curacao
  • You need to have a local representative
  • Domain ownership
  • At least one physical server needs to be located in Curacao
  • Presentation of the full description of the games
  • Technical audit of the software and gaming system
  • Software certification – RNG certificate
  • Compliance with anti-money laundering measures and programs for each player
  • Fit and proper test to assure that you are a person of good conduct

Required documents and information

Before commencing the application process, you need to present several documents, which are the prerequisites for starting the application process.

  • A copy of your passport
  • Second ID
  • Original Utility Bill that shouldn’t be older than 3 months
  • Resume (CV)
  • Bank reference letter (original)
  • Professional reference letter
  • Certificate of good conduct
  • Proof of domain ownership
  • Documents related to software, such as certification of RNG application, other 3rd party certifications, and software agreements 
  • Casino license application form and etc

You can see the complete list of additional documentation on the website of one of the top companies – Curacao eGaming – which holds the master license.

Fees and renewal process

One of the main benefits of the Curacao license is its’ low cost. The gambling license cost will vary depending on different factors, one of them being the exact requirements, needs, and circumstances of your business. Besides the initial application fee, other associated costs may include the establishment of the local company in Curacao, office fees, and first-year local representative fees. 

Moreover, curacao has favorably low taxes. There is only a 2% net gains tax. Otherwise, the operator is free from the burdens of high taxation that can be executed on a regular basis in other jurisdictions. 

Specifically, the cost of the Curacao Gaming License may vary between €15 000 to €25 000, depending on your requirements and the exact corporate structure of your company. This cost encompasses all the mandatory steps that need to be implemented in order to get your online casino up and running. 

Nonetheless, if you need an approximate blueprint of the costs, you can look at the table below:

Topic Topic Fees
Banking Search for the accepting banks in the EU $ 2 700
Corporate Register a company in Curacao $ 8 580
Corporate Purchase or start an EU-registered corporation for banking contracts $ 3 970
Corporate Compliance, KYC & UBO audits Encompassed in Corporate services
Electronic Money Institutions Allow the receipt of PSP funds Encompassed in Banking services
Gaming License Cost Cost of the Curacao Gaming License $ 16 900
Merchant payment Opening of PSP accounts to process money transfers to & from customers Encompassed in banking services

Curacao gaming license does not necessitate renewal, as it is automatically renewed after signing the official 1-year contract if you don’t have any violations. And if the company does violate the rules, master license holders have the authority to respond with the proper measures.

Conclusion

If you are new to the iGaming industry or want to build and launch your online casino as soon as possible without heavy expenditures and long-time lags, Curacao Gaming License is the best choice for your plans. The jurisdiction of Curacao has a long history in the iGaming business. Thus, with the benefits that we have discussed above, you also get the service of an experienced and trusted authority. 

However, the future of the Curacao license is a little blurry because, as we’ve mentioned above, the government may streamline the application process by directly issuing the B2B and B2C licenses. Nonetheless, some kind of halt or lag still slows progress. Specifically, the government entities in Curacao must pass the recommendations about the new regulatory guidelines to the Netherlands for authorization.

While this may happen, it won’t be the last step of the process because Dutch authorities have to review recommendations and send back feedback with the request for additional changes. Thus, it is possible that the process will take longer than it is expected, and government entities in Curacao will have to wait until the final result is declared.

Nonetheless, it must be mentioned that Curacao is still the best outlet for iGaming start-ups. The process of acquiring the license is not complicated and does not involve unnecessary requirements and heavy stacks of paperwork. Curacao provides a simple, effective, inexpensive solution that covers all gambling activities under one license. 

Frequently Asked Questions

How long does it take to get the Curacao Gaming License?

The process of application approval might take 6 weeks at maximum. In the given time, if everything is going smoothly, you’ll be able to pass over the necessary stages and get the Curacao license.

What’s the overall cost of the Curacao License?

The cost of the Curacao Gaming License is $ 16 900, but with additional requirements and details considered, the overall price relies on the policies of the master license holder.

What types of gaming licenses are offered in Curacao?

Curacao offers B2B and B2C sublicenses. These sublicenses enable the operator to run and organize all types of iGaming activities, including slot games, live casino, and sports betting.