Curacao license is a great solution for newcomers to the market. The jurisdiction offers ready-made solutions that will only stimulate the development of any newly organized company. The controlling entity offers low tax rates as well as no hard market restrictions. Perhaps the main limit can be considered the lack of the status of “state” for sublicenses (3 stars). Let’s see all aspects about Curacao casinos online.
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Curacao is a small island located just off the coast of Venezuela. The gambling industry has been developing since 1996. Within the jurisdiction of Curacao, there is only one license, which is granted for all types of gambling entertainment.
The main advantage is the ability to easily enter the jurisdiction. Low tax rates, combined with the absence of market restrictions, encourages new companies that appear in the field of online gambling to acquire a license in Curacao. The availability of specialized service packages allows you to purchase a license and hosting at a more than affordable price.
Curacao licensed casinos
Curacao license is a great solution for newcomers to the market. The main advantage is the ability to easily enter the jurisdiction. Low tax rates, combined with the absence of market restrictions, encourages new companies that appear in the field of online gambling to acquire a license in Curacao. The availability of specialized service packages allows you to purchase a license and hosting at a more than affordable price.
Available type of company organization in the online gambling sector:
Limited liability company or private limited liability company.
Corporate tax rate:
According to the current tax laws in Curacao, each site is required to pay a fee of 2% of gross profit, excluding import and sales tax.
The size of the additional game bet:
Security requirements, as well as reimbursement of player deposits:
The requirements for security and compensation for lost deposits to the player due to flaws in the protection system are assigned to the holder of the Master License.
The cost can vary in the following price range: from $ 1000 to $ 5600 at the discretion of the holder of the Master license.
The period of validity of the purchased licenses:
A sub-license can be valid for a predetermined period by the holder of the Master License, which, in turn, has a specific validity period in accordance with the jurisdictional rules – 5 years. It is worth noting that the Master license can be automatically renewed if all the requirements of the online platform are met, and there were no complaints from the regulatory authorities during the period of work.
Processing game transactions through the computing power of local banks:
Local banks do not support work with companies in the gambling sector. Although foreign banks can be attracted, ready to cooperate on the terms of jurisdiction.
Available bandwidth types:
- Multi-gigabit channel;
- International fiber optic lines;
- Self-healing network (operates 24/7, 365 days a year);
- Availability of the possibility of full data backup.
Requirements for testing the software used:
Random Number Generator (RNG) Certification: The Minister of Justice must give approval for its integration into the online platform.
Reporting requirements to be met by online casinos and financial regulators:
The results of any communication between the casino and the player (payments on winnings, correspondence, etc.) must be recorded and made available to the controlling organization on demand.
Online Casino Money Laundering Prevention Policy:
International standards apply to the fight against money laundering through gambling. The KYC policy applies to all sites operating within the jurisdiction of Curacao.
Territorial restrictions on the distribution of gambling content:
Advantages for players
Players can benefit from playing in gambling establishments with Curacao license because:
- the verification process is simplified: most often it is required only when the winning amount is very big;
- high limits on withdrawals;
- players don’t need to submit a declaration about sources of funds like in casinos with licenses from other popular jurisdictions.