Things to consider about Curacao Gambling License01.02.2022
Are you looking forward to starting your own casino like Flexepin Australia? Then you should obtain a gambling license. That’s where most people take a look at the Curacao gambling license. Continue to read this article and we will share more details on what it is all about.
What exactly is Curacao, and why has it become the location for obtaining a casino license?
Curacao is a gorgeous nation centered on the island of the same name, which is located in the Caribbean Sea to the south of Venezuela. It is officially part of the Kingdom of the Netherlands, which has the same privileges in this union as the well-known European nation with its capital in Amsterdam.
Curacao is, in effect, a little autonomous island nation with its own laws and corporate practices. This state cannot depend on agriculture and associated sectors due to a shortage of drinkable water and inadequate rainfall. Even though it has a refinery in its capital city of Willemstad, it only accounts for around 15% of the country’s total GDP. In such a case, the regarded state was compelled to seek other funding sources. This is the primary reason they began selling gaming licenses.
What is the Curacao gaming license?
Curacao is likely the most apparent alternative for businesses and entrepreneurs wishing to expand into online gaming. Curacao’s gaming license is one of the most popular in the world, with around 450 online gambling businesses registered and operating from the jurisdiction. But what is it that makes it so popular?
For starters, Curacao is often regarded as one of the most easily accessible licensing countries. It also has one of the quickest processing speeds and a one-size-fits-all license, regardless of game genre. This, paired with its low cost, makes it an ideal place for startups and those making their initial foray into the online gaming industry.
The Advantages of a Curacao Gambling License
The purchase of a Curacao gaming license entails several advantages for the holder. Benefits associated to the functioning of a gaming enterprise, as well as corporate and fiscal incentives, are examples of these.
- It is quick and inexpensive.
The application procedure for a Curacao license is the quickest of any gaming licensing country. Of course, this is contingent on the applicant providing all required paperwork in a timely and efficient way. It also implies that the paperwork be up to date and, if necessary, notarized. The procedure may take up to two business days in certain situations, not considering the time required to prepare the paperwork. This makes Curacao ideal for businesses on a tight timeline who need to be up and running and profitable as quickly as feasible.
- Benefit number two is that it is simple and hassle-free.
The application procedure for a gaming license might be difficult. Consider the amount of paperwork, application forms, and supporting papers that must be compiled, which takes a significant amount of time and money. In Curacao, this is not the case. There are still standards to be satisfied, but the amount of bureaucracy is restricted, making it considerably easier for individuals applying for a gaming license.
- One license covers everything.
Depending on the games you’re selling, several countries need various types of licenses. Some have add-on licenses for various game classes. This implies that if you wish to provide games like slots, live table games, casino games, lottery, and bingo, you may have to go through the licensing procedure more than once. With a Curacao gaming license, this is not the case.
- There is no tax.
Operators that have a Curacao gaming license are not required to pay any taxes on their profits. To benefit from this tax incentive, all revenue must be foreign sourced (produced outside of the nation), and any relevant economic substance and/or permanent establishment restrictions must be satisfied. This zero-percentage-point tax rate is much lower than in many other countries. The good news is that this still falls within international standards and is entirely compatible with international taxes best practices.
Now you know what Curacao gambling license is all about. If this gambling license is a perfect fit for your online casino, you may go ahead and get it.