Curacao Gaming License: The Ideal Solution for Startups
For startups and entrepreneurs looking to branch out into online gambling, Curacao is perhaps the most obvious choice. The Curacao gaming license is one of the world’s most popular with some 450 online gambling operators licensed and operating from within the jurisdiction. But what makes it so popular?
Firstly, Curacao is considered as by far one of the most accessible jurisdictions for licensing. It also has one of the shortest processing times and offers a one-size-fits-all license, regardless of the game type. This, combined with its cost-efficiency, means it is the perfect location for startups and those taking their first step in the online gambling business.
Benefits of the Curacao Gambling License
The acquisition of a Curacao gambling license brings with it many benefits for the holder. These include benefits related to the operation of a gambling company as well as corporate and fiscal incentives.
Quick and cost-effective
The process for acquiring a Curacao license is the shortest out of all gambling licensing jurisdictions. Of course, this hinges on the applicant submitting all documents in a quick and timely manner. It also means the documents should be in-date and notarized where applicable. In some cases, the process can take two business days, not including the time needed to compile the documents. This makes Curacao great for entrepreneurs who’ve got a tight deadline and need to be live and profitable as soon as possible.
In terms of cost, Curacao is one of the most efficient there is. Setup and ongoing maintenance costs are affordable and accessible to all budgets, particularly those that are just starting.
Easy and hassle-free
The application process for a gambling license can be a bit daunting. Think masses of paperwork, application forms, and supporting documents which take a lot of time and money to compile. This is not the case in Curacao. There are still requirements that need to be met, but the amount of bureaucracy is limited meaning it’s much less of a headache for those that apply for a gaming license.
Curacao remains as perhaps the quickest and easiest jurisdiction to get a gaming license from. With a straightforward process and easy ongoing maintenance, it provides entrepreneurs with a great sandbox opportunity to test their concept before tackling a tougher licensing jurisdiction.
One license covers all
Some jurisdictions have different kinds of licenses depending on what games you’re offering. Some have add-on permits for different game classes. This means if you want to offer games such as slots, live table games, casino games, lotto, and bingo, you may need to go through the licensing process multiple times. This is not the case with a Curacao gaming license.
The Online Gaming License covers every kind of iGaming-related activity in one, single, license. Game providers, software developers and providers, operators, and games such as sports betting, online casino, lotto, online poker, eSports, live games, scratch cards and games of chance are all covered. This offers high levels of cost-effective flexibility to gaming companies who may want to diversify their portfolio of offerings in the future.
Operators that acquire a Curacao gambling license are not liable to pay any tax on their revenue. Of course, all income must be foreign sourced (generated outside of the country) to benefit from this fiscal incentive and any applicable economic substance and/or permanent establishment rules must be met. This zero rate of tax is significantly lower than in many other jurisdictions. The great thing is that this is still within international rules and is fully compliant with international taxation best practices.
Great for startups
As a startup taking the first step towards online gambling, a Curacao license is the most sensible choice. It allows the company to test the concept, get a client base, and reinvest funds without having to pay a fortune in costly applications, taxes, and fees. Furthermore, it supports holistic growth and allows the company to diversify into other market segments, games, and areas without taking a financial hit.
DLD will usually recommend the Curacao gaming license to startups setting up their first online gambling platform. It provides the flexibility to explore, develop, and experiment without investing a large amount of capital. Once the business is running and in good shape, there is always the option to expand into new markets. This can mean applying for a license elsewhere and we can also assist in that transition.