Curacao is a part of the old group of islands called the Dutch Antilles meaning that basically they are a part of the Netherlands. The islands are located near the coast of South America and have traditionally developed as a trading destination. They are also historically significant as a point of stop over for ships travelling between South America and Europe. 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 main land Europe. This has led to the development of a number of industries including egaming and banking and investment.
Curacao Egaming License Empire
Overview of Curacao Egaming Sector
The Online Gaming Sector in Curacao is regulated by Curacao E-Gaming, the renowned eGaming License and IP (Information Provider) for all Curacao based online Casinos (https://www.curacao-egaming.com/). The egaming licenses were separated from Land based gaming licenses in 1996 and since then Curacao E-Gaming has provided licenses to entrepreneurs across the world to start egaming operations out of Curacao. Land based gaming in Curacao is now controlled by the Gaming Control Board, Curacao (www.gamingcontrolcuracao.org/ ).
Measures to promote Egaming license in Curacao
Curacao has tried to promote Egaming in Curacao through a simplified licensing process and a simple and transparent Taxation scheme.
a) Ezone companies
Since 2001, Curacao has established special zones called E-zones or Export Zones which allow the formation of special companies called E-zone companies which enjoy an extremely favorable tax rate and can be used as a holding company. The process can generally be completed within 2-3 days. Curacao imposes a mere 2% tax rate on E-zone companies and this rate is guaranteed until 31 December, 2025.
b) Simplified licensing processes
There is the requirement of only a single type of eGaming and IP License to operate all forms of online games from Curacao. This provides a one stop simplified licensing solution which is suitable for introduction of a variety of games and to create new and innovative games
Process of Applying for Online Gaming License in Curacao
The process for applying for an online gaming license in Curacao is divided into the following five steps:
Stage 1: Completion of a Pre- approval process.
The applicants who seek to apply for a Curacao License are first required to seek pre-approval through a Corporate Service Provider (e.g. Empire ) to apply for an egaming and IP License. The Pre-approval is normally granted within 24 hours.
The pre-approval application process is completed on submission of basic information and a non-refundable fee of EUR 1500.
Stage 2: Submission of Application Form
The completed IP application form along with the required supporting documents are to be submitted to Curacao eGaming along with the prescribed fee.
As of now, eGaming IP License fee is €4800/yr. or €700/mo.
On receipt of the application fee, the evaluation process will begin.
Approved applicants will be required to provide payment of all necessary onetime fees and deposits.
Stage 3: Evaluation of application
If the IP application and the required attachments are incomplete or is not compliant to the IP eGaming compliance requirements, Curaçao eGaming shall advise the IP applicant together with a checklist indicating the lacking or non-compliant items. On fulfillment of all requirements, the license will be issued.
Stage 4: Starting operations and Independent audit
On completion of all the three stages mentioned above, the applicant is permitted to implement the plan and start his operations within 60 days of the permission. The Curacao E-Gaming authority on the other hand keeps a close tab of violations and in case of fake license claims, it immediately moves to terminate them.
Broadly, a one-time prepaid application fee of €1500 is required for starting the process to obtain an eGaming IP License. Once the application process is complete, the monthly or yearly fees mentioned above needs to be paid.
In case all the documents are in place, the process can be completed within a period of 2-4 weeks.
Establishing a local Company
Although, a Curacao egaming license can be applied by most companies from across the world, but it is recommended that to receive the maximum benefits from the business, a local Curacao E-zone company is established.
The basic essentials for registration of a Curacao E-zone company are:
The company’s administration must be performed exclusively in the E-Zone;
The company’s employees must perform duties exclusively for it;
Only a negligible part of the company’s activities may be carried out by persons not employed by a company established in an E-Zone;
The company’s offices, work-floor and/ or warehouses in the E-Zone must be operational on regular workdays from at least 9 a.m. to 12 p.m. and from 2 p.m. to 4:30 p.m;
The E-Zone company must, in principle, display its goods and offer its services in or from the E-Zone
The E-zone Company must have a bank account in Curacao
Local directors need to be appointed (Fiduciary directors are available).
Empire can assist with the complete process of establishing a local E-zone company as the first step for applying for a Curacao Egaming license.
Taxes, Fee and Costs for a Curacao Online Gaming License
There are no taxes to be paid for any income arising in Curacao for Ezone companies and only a profit tax of 2% will levied on the companies. This makes Curacao a preferred licensing and establishment partner for corporate wishing to expand into the egaming sector.
White Label Licensing
With its highly favorable tax rate and easy application process, Curacao allows you to have white label licenses which you can further distribute if the applicants provide the necessary documents. Broadly Curacao white label solutions are possible for clients and can be established in the future. The cost for master licenses to further provide white label solutions is higher than a normal egaming license.
Use of License Seals
As a mark of authenticity, licenses operators of a Curacao egaming license are allowed to display the Curacao egaming license seal on the website.
Assistance for a Curacao Egaming License
Curacao is an excellent jurisdiction for online gaming entrepreneurs particularly for those who wish to offer a number of varied games on a single license and wish to secure benefits out of tax exemptions for the sector. Empire has a team of experts who can guide you through all the stages of licensing while you can focus on your business. The Gaming experts at Empire will assist you at every step and posses the necessary on ground experience. You can reach the Online Gaming License experts at Empire through our website www.empireglobal.partners and or by email at email@example.com. We offer clear written contract agreements clearly mentioning the applicable charges including the refund policy, in the unlikely event that the application is unsuccessful