Change in the issuance of gambling licenses in Curaçao 2022

Change in the issuance of gambling licenses in Curaçao 2022

12 Jan    Business, Finance News

Gambling licences in Curaçao have changed.

Currently, the Curaçao iGaming license is one of the cheapest and easiest to obtain in the world. Nonetheless, in 2023 it can become a bit harder to get the local permit.

The fact is that local authorities, under pressure from the world community, decided to revise the policy of issuing licenses in the jurisdiction. Let’s go into details.

According to the new law, which is expected to be put to Parliament by the end of the year, the new body will be created in Curaçao. The Curaçao Gaming Authority (CGA) will issue both b2b and b2c permits. As you all know, today the country issues only master licenses (there are only four such permits), and the owners of these permits, in turn, decide on the issuance of sub-licenses. This system is very convenient for operators, because the sublicensed business is practically not controlled by the state.

During the long period of time other jurisdictions and world gambling society criticized the too liberal licensing procedure in Curaçao. New legislation will allow Curaçao to tighten requirements for applicants and cooperate with other jurisdictions to prevent illegal gambling.

How to get a Curaçao iGaming license in 2023?

After upcoming changes will come into force, those wanting to obtain a Curaçao permit will be required to submit an application to the CGA. Applicants are expected to pay around €4,000 for submitting. After getting a license, there will also be an annual fee of €12,000 plus a monthly fee of €250 per URL.

There will also be several new requirements for operators. The main ones are the implementation of the AML policy and hiring of a minimum of 3 key employees based in the island state. Other requirements are expected to be the same as earlier. Nonetheless, it is better to wait for the final redaction of the new regulations.

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New rules for Curaçao gambling license holders

What about operators who already have a license? The local government has begun registering existing sub-licensees who will have an opportunity to migrate to the new system through 1-year transition licenses. To continue operating with an island permit operators are obliged to ensure their businesses compliance with new rules.

Is it still profitable to obtain a Curaçao license?

Yes, it is. New legislation will certainly raise the entry threshold for newcomers, but it will eventually increase the reputation of the jurisdiction. The number of money laundering and other connected crimes will decrease due to the strict control of the CGA, which is also good news for the honest operators. Finally, even with the new licensing costs, a local permit will still be one of the cheapest in the industry.

Feel free to contact Licensing Aid for the latest information on licensing in Curaçao or any other jurisdiction. Our experts will answer your questions and help with obtaining any permit.

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