New Curacao Rules for Online Gambling

August 1, 2022
gambling licenses cw banner

Curacao authorities have announced the procedure for virtual casinos licensing will be reviewed soon. It happened because for a long time the island has been criticized for a liberal procedure for getting licensed permission. According to new Curacao rules for online gambling licensed owners must employ min 3 resident workers.

New Curacao Rules for Online Gambling: How It Effects Companies

It has been noted by the Regulator that a new authority will be formed. A newly formed gaming company in Curacao will maintain for a more sophisticated verification procedure and will liaise with relevant international representatives. This change will be performed to prevent the activities of illegal virtual casinos.

Curacao is part of Holland, and since the Dutch authorities decided to regulate the functioning of gaming establishments in state, internal government began to put more pressure on such structures and insist on creating a strict licensing framework for illegal gaming establishments.

Now island authorities apply a system of general permits, and only 4 gaming organizations may act as separate licensors. Such businesses have the right to sublicense any casino providers on their terms. This means that the island authorities cannot keep under control those who have been issued a sublicense.

New Separste Auyhotiry for Curacao Gaming Regulation

The new bill, which is passed by the general apparatus of the island, proposes the formation of a completely new separate state-type unit – Curacao Gaming Authority. Such a regulative formation would be able to issue permits to B2C and B2B companies. According to preliminary data, payment for license getting will be about 12 thousand euros per year, plus every month the company will have to pay 250 euros for each domain under the license. The additional required registration fee is 4,000 euros.

Those service providers that have sub-licenses are now being scrutinized and must subsequently be placed on a waiting list for new permits. Such companies must fully comply with the new requirements if they wish to maintain their status and commercial field of activity. The list of new gambling rules in Curacao builds on stricter anti-money laundering protocols and the provisions that each licensed enterprise must employ a minimum of 3 resident workers there. This requirement is likely to contribute to the fact that a large percentage of current organizations with licensed permissions, nevertheless, will leave jurisdiction.

CGA will work with other regulative representatives to limit ability of virtual casinos to illegally target whole activities in regions where there is no licensing for such activities at all.

If you are interested in starting your own business in this direction, you can view current “Bookmakers and Gambling” for sale.

Related insights

Money services license in UK

The global economy must be able to assign money`s abroad. Such services have permanently been popular, but they are particularly in demand in countrysides with stable economies and good earning opportunities. This includes the UK, where billions of dollars are transferred abroad every year. To furnish such money-transactions, you ought services that will furnish such…

Read more 06.06.2023

Kazakhstan Payment Services Provider License

Establishing a solid foundation for your company goes beyond innovative technology and cutting-edge solutions. One crucial aspect that often presents challenges is setting up bank accounts for cryptocurrency exchanges. Unlike traditional e-commerce businesses, crypto businesses face unique hurdles when it comes to banking, compliance, and legal requirements. In this article, we will explore the complexities…

Read more 05.06.2023

Financial services provider in New Zealand

New Zealand, known for its stunning scenes and flourishing economy. A vigorous and dynamic monetary administrations area can be offered by Financial services provider in New Zealand. As a center point of development and dependability, the nation draws in both neighborhood and global financial backers looking for solid monetary arrangements. In this article, we dive…

Read more 30.05.2023

AEMI license in Latvia

Persons who received it have the right to issue e-money, transfer and exchange it. The AEMI permit is issued for an indefinite period. It allows conducting business related to virtual money within the EU Economic Area. One permit is enough to work in all states included in the EEA. Which services you could supply You…

Read more 24.05.2023

AEMI License in Lithuania

Organizations dealing with virtual monetary forms are firms offering specific services and being engaged in e-funds handling and processing. Holders of a permit as AEMI license in Lithuania get official right to conduct business-activities throughout entire EEA without necessity to get supplementary permissions in other countries. It’s also possible to get a limited permit, with…

Read more 22.05.2023

Slovakian cryptos regulation

The jurisdiction that we will review today is included in the list of states that already identify Bitcoin and additional digital currencies. However, in 2018, the state strengthened its position regarding virtual money and firms interested in it. Slovak banks have begun liquidating the accounts of firms associated with crypto at the initiative of the…

Read more 21.05.2023

Offshore bank license in Vanuatu

If you looking for the perfect place to starting an interaction, founders of corporations analyze various markets. Mostly corps-owners look at the Caribbean`s or European countrysides. But experienced businessmen know that there are also good countries in Oceania where obtaining licenses is fairly quick. One such option is the miniature but economically robust island-nation of…

Read more 15.05.2023

Offshore bank license in Dominica

The Dominica`s is an almost flawless place to extend an offshore`s bank. This country provides maximum clients and this allures considerable co-owners. This is one of the few countries where the strictness of the law works in favor of customers. That is why numerous seek to get an offshore bank license in Dominica. The acquiring…

Read more 15.05.2023

PSP permission in Lithuania

Money favors in Lithuania are quite developed and available for local residents, as well as for foreign tourists and business travelers. The state has a well-developed structure and technologies that allow providing fast and convenient payment services. Country has a stable economy and favorable conditions for biz. The jurisdiction has a fairly low level of…

Read more 09.05.2023

PSP license in Dubai

If you are researching a place you would like starting an interaction, one of the best options would be Dubai. It is a true paradise for businessmen in different industries. The region is one of the top 10 best financial centers in the world. Therefore, to get PSP license in UAE is considered to be…

Read more 09.05.2023

Forex broker license in Bulgaria

Despite the wide choice of EU member states to acquire a permission, there are jurisdictions that offer a faster and more efficient request procedure, one of which is state. An additional advantage for currency brokers of working with a permitted brokerage firm is relatively lower costs compared to other states. We will tell you everything…

Read more 09.05.2023

Fund management license in Singapore

Storage of money can and should be implemented in the countryside with a positive acquisition climate. One such place on our planet is Singapore. After the creation of a great economic miracle, the government in the region is trying to do everything to continue the flow of investment into the country. In particular, it created…

Read more 09.05.2023