Registration of an online casino in an offshore jurisdiction
According to statistics, one of the most profitable online structures is gambling. It is casinos that account for about 90% of the total number of online transactions. In order for the start of your gambling business to be successful, and the business itself soon began to bring high stable profits, you need to pay attention to many nuancesApply
In which offshore jurisdiction to register an online casino?
In many countries, registration of an online gambling business is prohibited. Moreover, in such jurisdictions, this detail is subject to the strictest control of the relevant authorities, which leads to the blocking of resources that distribute such content. That is why the founders of virtual casinos resort to alternative options, in particular, to registration in offshores. There are a number of countries that are ready to establish an offshore, through which the Internet gambling business will exist. They offer quite favorable terms.
In this jurisdiction, four types of licenses are issued, the term of which is 5 years. The cost due for registration is from 50,000 euros. The tax rate on profits is 5%. In addition, this state is becoming a part of the European Union and provides an opportunity to connect a merchant account.
The cost of the license is 30,000 euros. In order to renew the license for the next year, you need to pay 2,000 euros. Among the advantages of this jurisdiction, one can single out rather comfortable conditions offered for cooperation with European banking institutions, as well as the absence of the need to pay an initial payment.
However, there are also disadvantages. In particular, they consist in the payment of two types of taxes – on gambling and income taxes. In addition, it is necessary and extremely important to conduct an audit. Licenses are only issued to companies with a good reputation and financial standing.
The license cost is 15,000 dollars, and renewals for each subsequent three months will cost 1,500 dollars. If a company accepts rates from non-residents of Costa Rica, it is exempt from paying taxes. However, registration presupposes the obligatory presence of a local representative, office, obtaining a license from the municipality and staff.
Antigua and Barbuda
On these islands, a special department – FSRC, licenses the gambling business. Registration will cost 25,000 dollars, and license renewals will cost up to 5,000 dollars. In addition, it will be necessary to pay an additional 70 thousand dollars annually. Any capital is suitable for starting a business. If a company accepts rates from non-residents, it is exempt from paying taxes. However, the FSRC strictly controls gambling activities; in particular, it makes sure that there are a sufficient number of warnings on the resource about the possibility to use the playing area only to persons who have reached the age of 18.
Isle of Man
Here, obtaining a license will cost only 1,000 pounds. The annual renewal is 20 thousand. Non-British companies can also conduct their business on favorable terms; however, there is a requirement to pay tax at a rate equal to 1.5% of profits.
Other popular jurisdictions that provide an opportunity to register a virtual casino are Seychelles, Curacao, Great Britain, Cyprus, Alderney and others. In addition to the above jurisdictions, several zones that are not typical for offshore business issue gambling licenses. They are Czech Republic, Denmark, New Zealand, Kazakhstan, France and many others. It is worth noting that the registration of a virtual gambling business in the European Union requires an initial capital of at least 100,000 euros.
Obtaining a license for gambling activities in Curacao requires, first, the establishment of a local limited liability company – N.V. or B.V.
The legislation states that a company in Curacao must have a registered address in Curacao in the e-zone and, in addition, be registered with the chamber of commerce. The firm must also employ a local agent to act as a representative of the company, who will manage the firm’s activities within Curacao. Alternatively, instead of an agent, the company can appoint a local managing director who would be a resident of the jurisdiction.
Curacao does not divide the gambling industry into classes and types. Due to this, the entrepreneur gets the opportunity to obtain one permit covering all types of entertainment. For example, if you apply for a license for bingo or lottery, then the certificate you received gives you the right to diversify your gambling establishment with poker, slots and all sorts of other games.
For local entrepreneurs and non-residents, the application processing cost and period have been reduced to a minimum.
Companies that operate in the online environment and are registered in the e-zone do not pay any tax, with the exception of income tax, which is 2%.
*All the prices of company registration and obtaining the licenses are approximate, for current prices please contact our specialist.