Belgrade, Serbia: On a sunny spring evening while I sip a cup of Coffee in the “White City” Belgrade, I recall the sights and sounds of the day which make Serbia one of top 10 countries to visit in the world. Situated in the banks of the confluence of Sava and Danube rivers, Belgrade is a unique city storing in itself the history of long medieval era battles and the promise to emerge as the next business hub in Central Europe.
The Government of Serbia has tried to promote the growth of businesses in the country and also promote foreign investment and entrepreneurship. The forward thinking attitude of the Government can be realised from the fact that it saw a potential for online gambling way back in 2004 when the industry had not even been properly established.
As a prominent tourism and entertainment hub, Belgrade and Serbia as a whole had immense potential even for gambling sector and for operating casinos. To regulate the industry, the Government promulgated the Games of Chance Act, 2004 which was a comprehensive piece of legislation covering even nascent industries like online gaming. The Act also established a regulator called “The Games of Chance Board” to regulate the sector and provided the types of games which can be considered as games of chance as:
- Classic games of chance (lottery, sports betting, lotto, keno, tombola, fonto);
- Special games of chance;
- Prize-winning competitions in which prizes are awarded in goods and services.
Laws and regulators in the Jurisdiction:
The licensing of Casinos and online gaming websites in Serbia is now regulated by the Administration for games of chance of Republic of Serbia and the Games of Chance Board, both of which function under the Ministry of Finance.
The Serbia Online Gaming licenses are now governed by Acts on Games of Chance, 2011, Rules on types of Games of Chance, 2013 and Rules on the characteristics of IT equipment for games of chance via means of electronic communication, meeting the conditions and manner of their analysis, 2013. The entire licensing and application process for an online casino in Serbia is covered by the Rules on the method of determining the conditions for obtaining approval to organize games of chance via means of electronic communication, 2013.
How do I get a Serbian Online Gaming License
Serbia provides an unique challenge for any entrepreneur willing to obtain a license in the jurisdiction owing to language issues and lack of actual on ground information. However, Empire can assist you in your application. Exactly how!! We cover that later.
It is first essential to know that to apply for a Serbian online gaming license; you have to be a company based in Serbia and fulfil the following preliminary conditions:
- A minimum capital of € 250,000.
- A Bank Guarantee Deposit of € 150,000 kept in a bank in Serbia.
- A risk deposit of € 10,000 maintained by the company.
In case, you fulfil these conditions you can then submit your application to the Games of Chance Board, Ministry of Finance with the following information/ documents:
- Name and seat of the applicant;
- Player registration and identification methods;
- Demonstration of the disaster recovery procedure,
- Description of the backup storage system;
- A study on the prevention of the harmful effects of online gambling,
- Proof of ownership or right to use the appropriate premises;
- Evidence of compliance with the requirements set out in Act (mentioned above);
- Rules of the game or the games of chance that will be organised.
After, you acquire the initial permission; you have to take approval from the Military and Technical Institute in Belgrade for the equipment which will be used for the online gaming operations.
It is also essential that you are aware of the fee requirements and the tax payments to be made. For obtaining a Serbian Online gaming license which covers all E-games of chance, a fee of EUR 2,500 per month has to be paid per month.
A tax of 15% on the Gross Gaming Revenue (Difference between amount collected and payout) has to be paid for online betting and 5% for other games. The total amount of tax cannot be lower than EUR 7,500 per month
The process of license issuance is normally completed within 3-4 months.
The Fastest Way to your License
So, you are excited that Serbia can be the ideal destination for your online casino, but slightly concerned about the detailed application process. As I told before! Fear not, for you are at the right place. The Empire team has the requisite on ground experience and knowledge to cover all your doubts about the process. The team at Empire will guide you through the entire process of application to certifying your machines and software for starting your website. The gaming law experts at Empire can be reached through their website www.empireglobal.partners or by email at firstname.lastname@example.org
For more information please visit:
Administration for games of chance of Republic of Serbia
To know more about the country, please visit: https://www.serbia.travel/
You can also visit https://www.youtube.com/watch?v=IaC94ZP4OQc to know more about Serbia.
For more information on the legislations behind the program, please visit:
The Laws section of the Games of Chance Administration: (https://www.uis.gov.rs/zakoni_lat.php?&lng=lat )