Gaming License – Cyprus NBA
What is the NBA and what does it do?
The National Betting Authority (NBA) in Cyprus is the regulatory body responsible for overseeing and regulating the betting industry in the country. Established under the Betting Law of 2012, the NBA ensures that all betting activities are conducted fairly, transparently, and in compliance with the law. NBA also plays a critical role in ensuring that the betting industry of the island operates within a well-regulated framework, balancing the interests of operators, consumers, and the broader community.
Why obtain a Gaming License in Cyprus?
A Gaming License in Cyprus benefits from:
- Cyprus’s unique combination of memberships including among others the European Union, Eurozone, Council of Europe, United Nations, World Bank, World Trade Organisation, International Monetary Fund, British Commonwealth.
- Cyprus’s proximity to 3 continents.
- The country offers a beneficial tax regime, with a corporate tax rate of 12.5% and various tax relief measures, making it a tax-efficient hub for iGaming businesses.
- Cyprus’s attractive tax regime, which is one of the lowest among the EU member states and includes more than 60 double tax treaties.
- Cyprus is home to a skilled, multilingual workforce, especially in the gaming sector.
- A cost-efficient plan of administrative, operating, and living expenses.
Gaming License Types
According to Betting Law of 2012, the two main types of licenses tailored to different betting activities are as follows:
- Class A Bookmaker’s License
- Class B Bookmaker’s License
Gaming Services and Capital Requirements
The details of each Gaming category, indicating their differences and features are provided in the table below:
| Features | Class A | Class B |
|---|---|---|
| Key Differences | Land-based activities | Online activities |
| Gaming Services | Sports betting, poker, and other gaming activities, except horse races. | Online gambling, exchange betting and other non-traditional betting services, including virtual reality. It is not applicable for slot machines, lotteries and online casinos. |
| Minimum Regulatory Capital Required | 500,000 EUR | 500,000 EUR |
Application and Renewal Fees
The fees payable to the NBA for the examination of an application vary based on the type of gaming license selected and the chosen validity period, which may be either one or two years.
Application Timeframe
The duration of the entire application process, from the applicant’s initial interaction with NBA 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 2 to 3 months. However, the complexity of the proposed business model and activities, along with the applicant’s readiness to comply with NBA’s specified requirements, significantly impacts the timeline.
Obtaining an NBA Gaming License with SALVUS
The SALVUS Gaming Services Licensing team is composed of dedicated professionals who are equipped to assist you throughout every phase of your gaming license application with the NBA. Our specialists bring top-tier project management expertise and are prepared to help you choose the most suitable type and structure of gaming license, aligned with your business goals and strategic vision.
We collaborate closely with our clients and their teams to gather and prepare all required documentation, ensuring the submission of a thorough and timely application to the regulator. Additionally, we offer ongoing support and advice to help you meet all post-registration regulatory requirements, facilitating a smooth and successful start to your operations.
Contact us at info@salvusfunds.com if you are interested in obtaining a Gaming License in Cyprus under the NBA.