Gaming License – Curaçao GCB
What is the Curaçao GCB and what does it do?
The Curaçao Gaming Control Board (GCB), since 1999, serves as the primary regulatory body for the gaming sector both within Curaçao and for operations extending beyond its borders. GCB’s mandate is to be the leading authority in gaming regulation within Curaçao, distinguished by its commitment to maintaining public confidence. Attaining this involves ensuring that all gaming activities are carried out with integrity, accountability, and fairness, while preventing any involvement in criminal or corrupt practices. Its mission focuses on safeguarding public interests and upholding the integrity and stability of the gaming sector in Curaçao.
Why acquire a Gaming License in Curaçao?
Being a holder of a Gaming License in Curaçao entails a wealth of benefits, including:
- Curaçao’s favourable tax regime with its competitive corporate tax rates, specific incentives for international companies and tax holidays without withholding tax on dividends, interest, or royalties.
- A cost-effective gaming licensing process with a quick start of operations.
- No minimum regulatory capital requirements
- A stable and diversified economy with tourism, international finance, logistics and trade as its key sectors.
- Curaçao’s strategic location with proximity to major shipping lanes, enhanced connectivity to North, South America and Europe. Additionally, its deep-water port serves as a significant logistics and transhipment hub.
- Embracing a business-friendly regulatory framework, based on Dutch law, deeming it a reliable and transparent commercial environment.
- A highly skilled and multilingual workforce along with reputable educational institutions.
- Curaçao’s high standard of living, encompassing excellent healthcare and a vibrant international community.
- The support for global trade and banking by the island’s active membership in international organisations and a well-developed financial services sector.
- An advanced telecommunications infrastructure, supporting digital and tech-based businesses.
Types and Features of Gaming Licenses
In Curaçao, the regulation of the gaming landscape is managed through two primary licensing options, the Master License and the Sub-License. The following table provides a thorough comparison of these two licensing categories, emphasizing their distinctive features and the usual application fees:
| Type of License | Features | Business Activity | Application Fee |
|---|---|---|---|
| Master License | • Primary License • Holder of Master License can also issue Sub-License to other operators • Master license holders are responsible for ensuring that sub license holders comply with regulations and maintain fair and legal operation of gaming services. | • Sports betting • Casino games (slots, table games, etc.) • Poker • Lottery • Bingo • Affiliate Marketing • Master License holders can run their own gaming operations or provide platform services to sub-licensees. | 5, 000 EUR |
| Sub-License | • Allows the holder to conduct online gaming activities under the framework and oversight of the Master License holder | The following services are provided under the regulatory umbrella of the Master License holder: • Sports betting • Casino games (slots, table games, etc.) • Poker • Lottery • Bingo • Affiliate Marketing | 5, 000 EUR |
Application Requirements
The primary requirements for securing a gaming license in Curaçao are distinguished in human and technical requirements, as showcased in the table below:
| Requirement Category | Regulatory Requirements |
|---|---|
| Human Regulatory Requirements | • At least one shareholder, • A local point of contact for business correspondence, who must reside in Curacao, • At least one Director, who must reside in Curacao, • Compliance Officer. |
| Technical Regulatory Requirements | • Company Incorporation, • Business plan of at least 3-year forecast, • Proof of domain ownership, • Physical Office, • Accounting Audit, • AML and KYC policies, • Payment processing procedures, • Certified Gaming Software. |
Application Timeframe
The duration of the entire application process, from the applicant’s initial interaction with GCB to the start of operations, largely hinges on the applicant’s choice of the License Type and the remote gaming services and products to be offered. Usually, the application process is concluded in 6 to 8 weeks. However, the complexity of the proposed business model and activities, along with the applicant’s readiness to comply with GCB’s specified requirements, significantly impacts the timeline.
Annual Fees
The annual contributions payable to the GCB vary based on the type of license.
Obtaining a Curaçao GCB Gaming License with SALVUS
The SALVUS Gaming Services Licensing team is comprised of experienced professionals who are dedicated to assisting you throughout the entire process of applying for a GCB Gaming License. Our specialists use top-tier project management techniques to help you choose the ideal gaming license type and structure that aligns with your business goals and vision.
Due to the fact that Curaçao’s licensing framework is under reform, the above information is subject to change. Contact us at info@salvusfunds.com if you are interested in obtaining a Gaming License in Curaçao or any other jurisdiction.