The New Curacao Gaming License Cost, Benefits & Process 2024

The New Curacao Gaming License Requirements – a GBO Analysis

Curacao is reorganizing its gambling industry and is ready to issue new licenses to operators in November 2024. Our analysis suggests that this projected change, referred to as “essential” by Finance Minister Javier Silvania, is similar to the Malta gaming licensing system.

What aspects of Curacao’s gaming licensing laws are changing?
Information is still developing. We have, however, stated several requirements following our review of the new criteria and procedure. These will likely be improved once the licensing arrangement is clarified. The new regulations emphasize compliance and AML. AML rules, company setting, banking, and merchant services are all part of our full license package.

Key Conditions

1. Licensees are required to constantly uphold information security standards. They must deliver audited security policies to the GCB within six months of receiving a license, according to the GCB’s specifications, employing an auditor that the GCB has approved. Additionally, they need to have their hardware and software security checked by a third party with GCB approval.
2. Licensees must maintain player account policies and submit audited versions of those policies to the GCB upon request and within six months of licensing.
3. It is crucial to have consistent payment transaction protocols. Upon request from the GCB and within six months, audited policies must be provided with the GCB.
4. Licensees must maintain responsible gaming practices and present audited plans to the GCB whenever requested and within six months.
5. For fairness, every game operated by the licensee requires independent lab approval.
6. Within six months of receiving their licenses, licensees are required to submit certification proof to the GCB upon request and in accordance with GCB policies.

Our services comply with these requirements, guaranteeing that you fulfill all requirements for licensure.

The new Curacao license application and gaming laws

As of 2.10.2023

Getting a new Gaming License in Curaçao

In the rapidly evolving domain of online gaming, obtaining a legitimate license is paramount for any business aiming to operate with credibility. The licensing process under the National Ordinance on Offshore Games of Hazard (NOOGH) in Curaçao ensures that gaming operators adhere to international standards and best practices.

Core Objectives of the Licensing Process

The NOOGH-based licensing is grounded in a few internationally accepted objectives:

1. Prevention of Unlawful Activities: This encompasses the deterrence of fraud and other illicit activities related to online gaming.
2. Player Protection: Ensuring the safety of players is paramount. This includes safeguarding minors and assuring that player winnings are duly paid.
3. Prevention of Gambling Addiction: Addressing the potential pitfalls of online gaming, particularly gambling addiction, is a central tenet of the licensing process.

To meet these objectives, Curaçao emphasizes a gaming environment that is:

• Safe: This pertains to the safety of games, gaming equipment, and systems, ensuring they are secure from risks like theft, malware, and cybercrimes.
• Responsible: It’s imperative that players are treated fairly. The licensing process looks at measures to prevent gambling addiction and protect vulnerable groups, including minors.
• Reliable: The integrity, stability, and continuity of the gaming provider are evaluated. This reliability extends to ensuring no association with money laundering or terrorism financing.
• Transparent: Gaming providers’ operations should be clear, accountable, and maintain proper records.

Evaluation Parameters by the GCB

During the licensing application process, the Gaming Control Board (GCB) of Curaçao primarily focuses on:

1. The integrity of the applicant, which extends to its beneficial owners, stakeholders, directors, managing directors, and compliance officers.
2. The financial integrity of the applicant’s organization.
3. The accessibility of the gaming channels from the perspective of the players.

Post the granting of the license, operators must submit critical policies and procedures to the GCB within six months. These should be audited as per the GCB’s guidelines and can be requested by the GCB subsequently.

Business Plan For The New Curacao Gaming License

The delineated business plan serves as a conceptual structure to furnish a comprehensive synopsis of the requisites and strategies associated with obtaining a Curacao Gaming License. This is merely an introduction; for a comprehensive, customized business plan that complies with the most recent Curacao gaming regulations and facilitates the successful application for a new gaming license, please get in touch with us.

• Executive Summary: Overview of business and goals.
• Business Description: Legal and operational details.
• Market Analysis: Customer and competitor insights.
• Marketing Strategy: Promotion and retention plans.
• Operational Plan: Workflow and technology requirements.
• Management and Personnel: Team structure and duties.
• Regulatory Compliance: Adherence to local laws.
• Financial Projections: Revenue and profit outlook.
• Risk Management: Identifying and mitigating risks.
• Technology Plan: Infrastructure and security specifics.
• Product Portfolio: List of gaming services.
• Player Protection Measures: Safety and ethical strategies.
• Exit Strategy: Future business transition plans.

Decision Timeline

Post the submission of a complete application, the GCB commits to a decision within two months.

License Duration

Once granted, the license has a validity of up to one year. However, this can be subject to change based on new or transitional provisions in future Curaçao legislations.

Stipulations Attached to the License

There are general conditions tied to every license. Specific conditions related to licenses granted directly by the GCB to operators catering to the international market via online means can be found here. Depending on unique circumstances, additional conditions may be affixed to individual licenses.

In conclusion, securing a gaming license in Curaçao is a meticulous process, ensuring that the online gaming environment is safe, transparent, and trustworthy. This not only protects players but also establishes the legitimacy and credibility of the gaming operators.

The GBO team, active since 2009, offers a comprehensive suite of services for those looking to acquire a Curacao e-Gaming license through the Curaçao Gaming Control Board (GCB).

We cover all aspect of Curacao’s New Licenses Applications

From guiding through the application process and business establishment in Curacao to providing white-label solutions across Europe and Asia, we ensure a seamless journey. We also specialize in facilitating banking and high-risk merchant accounts in Europe. The GCB, under the National Ordinance on Offshore Games of Hazard (NOOGH), upholds rigorous standards for licensees, emphasizing player safety, ethical operations, and robust fiscal practices. Applicants are expected to adhere to these stringent criteria and, once licensed, maintain them to the highest degree. For detailed insights and resources.

Obtaining an Online Gaming License: In 2019, the responsibility of online gaming licensing and oversight was assigned to the Minister of Finance of Curaçao. However, by March 2020, this duty was transferred to the Curaçao Gaming Control Board (GCB). Starting November 15, 2023, the GCB will manage and process applications from operators aiming to secure an online gaming license. It’s important to note that licenses will be granted exclusively to Curaçao-based online gaming companies. For detailed information on the application procedure, licensing terms, and to access application forms, follow the links provided.

Licensing Perspective:

The GCB’s licensing framework is built upon internationally recognized standards:

• Adopting a strict stance against any deceptive or unauthorized gaming activities.
• Prioritizing the rights of players, especially younger participants, and ensuring they receive their rightful earnings.
• Actively working to prevent issues related to gambling addiction.
• It’s essential for gaming providers in Curacao to maintain a high standard of safety, ethical conduct, transparency, and consistent reliability.

Key Points for Curacao License Application:

• Applicants must be established and recognized entities in Curacao.
• Those focused on player and financial management are the ideal candidates.
• Applying necessitates the submission of specific forms, such as the Online Gaming License Application Form, Business Disclosure Form, and an in-depth Personal History Disclosure.
• During the evaluation, the GCB emphasizes the applicant’s trustworthiness, financial stability, and effectiveness of their service delivery. After obtaining the license, the licensee must share certain policies with the GCB within a set six-month period.

The New Curacao master gambling license

Several steps are required to obtain a master certificate in Curacao under the new regulations:

1. Verification of the personal information of directors and authorized individuals; Comprehensive business checks; Verification of the organization’s compliance with key policies and conditions.
2. Post-Licensing Phase: Observation of license-holding operators;
3. Within six months of receiving a license, licensees must conduct the necessary tests and provide the GCB with data;
4. Validation of the trustworthiness of new licensees, directors, and other authorized individuals;
5. Significant incidents are discussed in the report.

The specified data may include the following:

1. Details about the applicant; Brand name; Used domains; Business model; Type of gambling activity; Player account information; Fund management details; Currencies utilized.
   monetary transactions (directly or via intermediaries);
2. Location of the server; Gaming delivery channels (PC/mobile);
3. Details regarding game providers;
4. Positions held by the applicant;
5. Information about the applicant’s criminal record; Information about the applicant’s address and citizenship.
6. Specific details about local representatives;
7. Information about the company (name, local address, registration number, date of incorporation, etc.);
8. Company history (founding, business expansion, relocation of operations from another jurisdiction, and current Curacao-licensed activities);
9. Source of capital;
10. Within six months of obtaining a Curacao license, licensees are required to verify all player data, accounts, funds, game integrity, and information security, and provide this information to the GCB.

Master License Application submission requirements documentation

1. Birth certificate, either original or certified copy;
2. Passport and/or identity document (original or certified copy);
3. Original or certified copy of the applicant’s recent police clearance and/or protocol (certificate of no criminal record); Each jurisdiction in which the applicant has resided for more than six months within the past two years must be documented.
4. Copies of any and all gaming licenses issued to the applicant in any jurisdiction;
5. Original or certified copy of a letter from a credit institution or bank, or a bank statement (issued within six months of the application date);
6. Original or certified copy of a utility bill or bank statement bearing the applicant’s current address, or any other document validating the applicant’s residential address
   Declaration and confirmation of the shareholders’ source of funds and source of income.

A master license and a sub-license. While both cover gaming operators and allow the same essential rights for e-gaming operations, there is a distinction between the two.

It licenses e-gaming operations for the holder and provides the possibility to sell sub-licenses to other third parties, which are subject to the same restrictions and covenants of the Master license.
Master licenses are issued at the discretion of the Minister of Justice, and it has become extremely difficult to obtain a master license in Curacao.

It offers the same rights to operate online gambling activities in a legitimate manner but is a single-instance license. A sub-licensee cannot sell additional sub-licenses to third parties.

NOTE: There is strong anti-money-laundering legislation in force in Curaçao.

All online gaming operators must obtain a sub-license in order to run internet gambling operations in Curacao. The Curacao gaming laws require full compliance with all the relevant regulations before you can operate. Let our expert team at GBO take care of the necessary procedures to obtain the license, set up your company and banking accounts. Check with us for the current applicable charges.

To operate properly in full compliance with the Curaçao gambling law, a company offering online e-Gaming services in Curaçao must obtain the proper licensing, banking, and corporate entities. GBO can give you all the assistance necessary, including oversight by a qualified Curaçao gaming lawyer so that you can structure all the necessary licensing, company formation, bank accounts, gaming payment solutions and more.

Curacao Gaming License Cost & Requirements: What You Need to Know

To run an online gambling or e-gaming operation, a sub-license is required. This sub-license can only be issued by organizations that hold a master license, which is where GBO comes in.

It has become increasingly difficult to obtain a master license, but we have gone through these processes for you, making it that much easier and more cost-effective to obtain a Curacao gaming license.

Our trusted network of experts and proven infrastructures have made it possible for us to offer competitive licensing fees that include all the necessary procedures and requirements.

How Much Does a Curacao Gaming License Cost?

You can expect a Curacao gaming license to cost between €15,000 to €25,000, depending on the exact corporate structure. This fee includes all the necessary steps to be undertaken to get your online gaming operation up and running, including:

• Incorporation of a holding company.
• Acquiring the Curacao gambling sub-license.
• Setting up merchant payments and accounts

Curaçao e-Gaming Corporate Setup Costs

A company must be registered in Curacao as the holder of the gaming  license. The company should be located in the special e-Zone in order to qualify for the minimal rate of corporate tax on profits.

The incorporation process includes company formation, drafting of incorporation documents, government fees, preparation of the required AML/KYC/CFT documentation, submission of the records of UBOs and all other sets of documents, courier fees and all other associated costs.

The initial fees charged for all services by GBO include the first year’s operations of the Curacao online casinos from the date of registration of the company. 

European Corporate Setup Costs

A company must be registered in Europe to act as the financial channel for banking activities. 

The incorporation process includes company formation, drafting of incorporation documents, government fees, preparation of the required AML/KYC/CFT documentation, submission of the records of UBOs and all other sets of documents, courier fees and all other associated costs.

The initial fees charged for all services by GBO include the first year’s operations of the holding company from the date of registration. 

Banking Setup Costs

The European holding company should be set up with merchant banking and virtual bank accounts that allow customers to receive, transfer and withdraw funds globally, mobile banking, IBAN accounts, ForEx swaps and all the other necessary financial transaction facilities. GBO’s fees include identifying and negotiating the whole package of financial services with recognized European EMIs.

Curacao Gaming License Acquisition Cost

It is not possible to register for a Curacao Master Gaming license. The current holders of existing master licenses can issue sub-licenses that offer exactly the same scope for gambling online as their own licenses. However, holders of sub-licenses cannot themselves sell further sub-licenses to other companies. 

There is a one-to-one relationship between the sub-license and online casino. The company that holds the license can only operate a single online casino from its registered website.

The exact cost of the sub-license is subject to negotiation with the master license holder. GBO will act on your behalf to get the best possible deal fora fully activated Curacao gaming license.

Total costs for setup of Curacao online gaming site

When you negotiate the deal through GBO, the whole package is bundled so there are no extras. We include the full Curaçao gaming license cost, setup of the Curacao gaming company, setup of a European holding company and opening the necessary banking and payment services accounts. 

The table below set out the current pricing for the services. This is not a binding quote. You should discuss this with a GBO officer in order to negotiate a final quote and contract for the full services.

Recurring and renewal costs for a Curacao gaming operation

The initial fees charged for all services by GBO include the first year’s operations of the Curacao holding company from the date of registration.

After the first year, there are several recurring charges and fees, including:

• Renewal of the Curacao company license, including government fees, legal fees and stamps
• Renewal of the European company license, including legal fees, government fees and stamps
• Renewal of the sub-license on contract from the Master License holder
• Payment of Curacao resident agent fees
• Payment of Curacao registered office costs and all the other associated business costs
• Renewal of general liability insurance, professional liability insurance and other associated insurance covers

These charges are bundled into GBO’s fees for annual services.

The table below set out the current pricing for the services. This is not a binding quote. You should discuss this with a GBO officer in order to negotiate a final quote and contract for the full services.

Updates on the modernization of the Curacao online gaming legislation. (last update 28.12.2022)

The regulation of online gaming in Curaçao has undergone several updates and modernizations in recent years. In 2018, the Curaçao Gaming Authority (CGA) introduced a new licensing regime for online gaming operators, which included new requirements for obtaining and maintaining a license, as well as increased oversight and stricter penalties for non-compliance.

In 2020, the CGA announced further updates to the online gaming legislation in Curaçao, including the introduction of a new licensing category for “skin betting” operators (companies that allow users to bet on the outcome of eSports matches using virtual items as currency).

In addition to these updates, the CGA has also been working to improve its transparency and accountability, including by providing more information about its licensing processes and decisions on its website.

It’s worth noting that the regulation of online gaming is a rapidly evolving area, and further updates to the legislation in Curacao may be made in the future. It’s important for gaming companies operating in Curaçao to stay up to date on the latest developments in this area

There are certain guidelines to be followed and requirements to be met for a company to receive a license from the Curaçao Gaming Commission. The company must submit all the necessary documents of the shareholder(s) for the Curaçao company to be formed. This includes an application for the Curaçao Department of Justice to proceed to conduct an investigation of the company and a request for registration with the Curaçao Chamber of Commerce as a locally formed legal entity. Once the investigation is concluded and all relevant documentation approved, a provisional license subject to a number of conditions is issued. One such condition is the ability to provide a set guarantee deposit. Generally, after submission of all application documents, it takes about a fortnight for the license to be issued.