Curacao, an island in the Caribbean Sea and a country within the Kingdom of the Netherlands. The country is situated 60 km north of the coast of Venezuela. Curacao and neighboring islands off the northern coast of South America are usually considered to constitute the southwestern arc of the Lesser Antilles. The capital is Willemstad.
Curacao has an open economy, with tourism, international trade, shipping services, oil refining, storage (oil and bunkering), and international financial services being the most important sectors. Schlumberger, the world’s largest oilfield service company, is incorporated in Curacao. Curacao has its own currency and its economy is well developed, supporting a high standard of living, occupying the 46th place in the world in terms of GDP per capita and 27th in the world in terms of nominal GDP per capita. Curacao has a high-income economy, as defined by the World Bank.
Although tourism plays an important role in Curacao’s economy, it is less dependent on tourism than in other Caribbean countries. Presently, the unique status of the islands as a part of Dutch territory provides them a unique advantage of being able to provide the benefits of being in the European Union without actually being subject to the high tax rates of mainland Europe. This has led to the development of a number of industries including gaming and banking and investment.
The government of Curacao offers casino operators, software, and service providers in the gambling industry, with a gambling license that allows gambling operators to conduct business related to casino, lotto, and other gaming-related activities. Curacao Gambling License is one of the most popular licenses for online casinos worldwide.
Curacao was one of the first jurisdictions to regulate online gambling. Since it started offering an Online Gambling License in 1996 and for the past few decades, Curacao has established itself as one of the most respectable jurisdictions from where to obtain a gaming license. Curacao’s infrastructure offers a wide array of services for online gaming operators and providers, such as high-capacity private racks, private cloud services, custom dedicated servers amidst other hosting options.
Curacao has long been recognized as one of the preferred locations for Online Gambling operators to base their operations. This success has been due to a combination of factors, such as a progressive legislative system, political stability, first-rate telecommunications facilities, and a well established financial services industry. A wide range of gambling sites operates out of Curacao including sports betting, casino sites, poker, bingo, and more.
Curacao Online Gambling Regulations
Starting from 2002 legislative system of Curacao considers online gambling as a separate variety of the industry. Curacao Online Gambling is officially regulated by the National Decree on Gambling – “National Ordinance Offshore Games of Hazard”. Online Gambling in Curacao is regulated by the Curacao Gaming Commission, which is associated with the government of Curacao.
The regulatory body in charge of handling the Curacao Gaming Commission is known as the Curacao Internet Gaming Association (CIGA). Established in 2001, CIGA controls approximately 30 online gaming operators and as a member of the Interactive Gaming Council (IGC) it is bound by its code of conduct. National Anti-Money Laundering Regulations, Unusual Transactions Act, Counter-Terrorism Financing Regulations and Know Your Customer Policies are applicable to all Curacao Gambling Companies.
As part of its duties, the Curacao Gaming Commission monitors gaming businesses and services to ensure that they operate according to the standards and regulations of the Government of Curacao. Compliance audits are conducted on a regular basis to ensure that the terms of the license are met. Licensees must maintain a complete audit trail for each player making a deposit with an operator, including financial transactions and individual bets.
Gaming systems, including back-end software logs, must be made available to third-party auditors. Gaming rules, results of the games, and pay-outs are to be made available to the Regulator or supervising authority for five years.
Let’s talk more about the benefits by understanding the reasons why obtaining a Curacao igaming license may be ideal for you.
How to Start An Online Gambling Business in Curacao
When starting a Curacao Online Gambling Business, first of all, it’s important to think about one of the most essential procedures, that is company registration and acquisition of the license. Curacao Gambling License gives many excellent opportunities to each licensee and makes their business profitable.
Since 2001, Curacao has established special zones called E-zones or Export Zones which allow the formation of special companies called E-zone companies that enjoy an extremely favorable tax rate. Curacao imposes a mere 2% tax rate on E-zone companies and this rate is guaranteed until 31 December 2025. Curacao has a low corporate income tax of only 2%, has no tax on bets, no sales tax, and no VAT.
Curacao has political stability, first-rate telecommunications facilities, and a well-established financial services industry. In addition, it maintains an attractive environment for international online gaming companies. Curacao Gambling License is recognized by many countries all over the world, so you will have a large potential customer base after getting it.
In order to obtain a Curacao Gambling License, the decision to approve the application is at the discretion of the Minister of Justice, based on the documentation submitted by our experts. The Curacao Gaming Commission issues one Online Gambling license which covers all gaming operations, igaming service providers, network operators, affiliates, white-label operators, and igaming software suppliers. With this Curacao Gambling License, online gaming companies can operate legally.
Each applicant undergoes a thorough assessment, ensuring that licenses are only awarded to those applicants who are able to demonstrate such a financial standing and integrity as to preserve the international reputation of Curacao as an online gambling hub. In case something does not correspond to requirements, the gambling commission will provide a checklist of necessary improvements. There are monthly licensing fees for the first two years. After the first two years, a new license fee can be determined.
No need to apply for various types of Online Gambling Licenses or long setup process. A Curacao Gambling License covers all forms of online gambling including Casino, eSports, Poker, Sports Betting, Lotto, Bingo, Horseracing, Bitcoin Casino, Fantasy Sports, Games of Skill, and other gaming-related activities without being required to obtain one license for each individual product. Curacao Gambling License enables companies to operate all over the world except in Curacao itself, the Netherlands, France, and the USA.
Curacao Gambling Requirements
Residence in Curacao. Operators wishing to offer their services to Curacao gamblers must be residents of Curacao, EU, or EEA and they must obtain the relevant licenses and authorizations from the Curacao Gaming Commission. In case the company is a foreign entity, it must appoint a local authorized representative, whose domicile is in Curacao, to deal with the competent authorities in the country and have the power to conclude contracts on its behalf
Opening of a bank account with one of the banks in Curacao where the operator would need to deposit the players’ money. Licensed remote gaming operators will only be allowed to make payments to players through the payment processors that have been approved by the CGC
Requirements regarding the minimum share capital of the company depending on the type of game it offers
A monthly declaration giving details regarding income from games of change as well as the fees due will have to be submitted to the CGC on a standard form
Compliance with the principles regarding the protection of minors as well as with the content of the promotional material used and the locations where they can be displayed
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