Belize City, Belize: Every city and country that I visit provides me an insight into something new about the people and culture of the country, but today was much more than that. I saw the brimming potential of a country to develop as a global financial services destination. Although famous for its crystal clear beaches, jungles and scuba diving, Belize has the potential to be much more. It is a country that is located so centrally located from the major economies in the Americas with such a vibrant tourism industry and stable Government that can be the next major business hub on the lines of Singapore or Dubai.
The Government of Belize has tried to tap this potential and promote the services industry as a means to diversify from its traditional Petroleum and agriculture-based industries. Membership of major international organizations such as CARICOM has aided this process. It has also tried to imbibe the globally successful models such as Free Trade Zones for the promotion of industries.
Due to a large number of tourist inflows into the country, promotion of the Gambling industry was an expected decision on part of the Government and it introduced the Gaming Control Act, 2000 as primary legislation. The next major development was the introduction of the Gaming Control (Online Gambling) Regulations, 2004. Belize was one of the first destinations in the Americas to promote regulated Online Gambling and the Gaming Control Board of Belize was entrusted to regulate the functioning of the industries.
Gaming Licenses in Belize:
There are three main types of gaming licenses issues in Belize-
- Gaming Licenses for Land-Based Casinos
- Gaming Machine License for land-based gaming machines such as poker machine, slot machine or any other electromagnetic machines.
- Online Gaming License which is also called the Belize Online Casino License.
The Online Gaming License allows the operation of all forms of games including:
- live dealers entertainment,
- sports betting,
- Slot machines or other gaming programs.
Details about the licenses are available at https://empireglobal.partners/belize-online-casino-license/
Determining Eligibility for a Belize Online Casino License
Belize is a preferred destination for all investors in the Online Casino Industry and there are good reasons for it. The investor-friendly legislation and business process make it an ideal licensing destination. The process of licensing however is divided into three major stages. And we will cover that later in this blog.
To start off with, the first requirement for a license is the registration as a local company in Belize and acquiring personal information of all key individuals involved in the functioning of the company.
It must be kept in mind that there are a few prescribed disqualifications for people seeking to apply for licenses and most of them relate to a conviction for crimes. A detailed list of the disqualifications is available on the Empire website.
Now, let us move into the different stages of licensing.
The applicant at the beginning has to submit an application to Empire stating that he wishes to apply for a Belize Online Gaming License. Empire would immediately get in touch with him for an appointment and provide him with a guidebook on payment of a small fee. The application guidebook contains The Belize IBC Application (Domestic Belize Corporation), Belize Gaming Trade Association & Club Dues and an online gaming license application form.
The applicant will be informed about the supporting documents for the application form. Among the important documents which are required are:
- Complete Company Probity Form
- Complete Personal Probity Form: about the applicant
- Payment vouchers for prescribed fees
- Business Plan
- Passport or Visa copies (including current and previous passports)
- Citizenship Certificate
- Certificate of Non-criminal Record
Now, the filled in application form has to be submitted to Empire PLLC. On receipt of the application form, Empire will evaluate the form and ensure that all questions are answered, all supporting documents are enclosed and all requisite fee amounts have been paid.
In this stage, the application form is first screened by the Government in a process called the “Administrative Completeness Check” and is normally completed within 8-16 weeks. Empire also provides an option for expedited check where the decision is normally taken within 4-6 weeks on payment of a small additional fee.
The second part of the Government evaluation process is the ‘Initial Evaluation Process’ by the Gaming Board and the parallel Background Check on the applicants. In case, the applicant does not fulfill certain conditions of application, it will be conveyed to the applicant. The applicant can then submit the additional documents and call for an extended evaluation.
In case, the applicant does not request for extended evaluation or fails in the extended evaluation, then the application is rejected. In case, it fulfills the initial or extended evaluation, it moves on to the final stage.
The last stage of the process is final approval of the application by the Gaming License Review Committee on the basis of the evaluations. The decision of the committee is then informed to Empire who then conveys it to the applicants.
The process of license issuance is normally completed within 4-5 months. More details about the entire process can be obtained from https://empireglobal.partners/belize-online-casino-license/
Fee for a Belize Online Casino License
The cost of the Belize Online Gaming License involves a number of components and the costs can vary according to the type of license.
The first part of Fees is the “One Time Fees” which are as follows:
One Time Fees
|Sl. No.||Type of Fee||Details about the Fee||Fee amount|
|Guidebook Application Fee||Fee for an application form and Guidebook to submit the application||500|
|Offshore Company Application Fees||The fee to apply for a Belize IBC||2000|
|Belize Gaming Trade Association & Organisational Dues||Special Fee to be paid for operations||5000|
|Gaming License Application and Admission Fees and Legal Advisory Fees||Fee for application and services||On Request|
The second part of the Fees is the Annual Fees and they have to be paid every year. The Annual Fees are as follows:
|Type of License||Amount in USD||Details about the Fee|
|Offshore Company Renewal Fee (Annual)||500||Fee for renewal of the Belize IBC initially formed|
|Belize Gaming Trade Association & Organisational Renewal Fee||5000||Fee for Membership of the Organisations necessary for Gaming Licensees|
|Online Gaming License Renew Fee (Annual)||15000||Annual Fee to be paid for the Online Gaming License charged by Govt.|
The Third Part of the Fee is for running the operations in the Free Trade and Free Development Zone. They are as follows:
Free Trade Zone Fee
|Turnover of the Licensee (in USD)||Amount of Fee (in USD)|
|0-15 Million||0.07% of Turnover|
|15-50 Million||0.06% of Turnover|
|Above 50 Million||0.05%|
|Annual Renewal Fee in Total||30,500 + Development & Construction Fees|
The Fastest Way to your License
By now you should be convinced that Belize is the ideal destination for licensing your online casino. But for the cautious investor in you- Any further queries? The Empire team has the requisite on-the-ground experience and knowledge to cover all your doubts about the process. The team of Gaming experts at Empire will guide you through the entire process of applying to ensure that your licenses are expedited. 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:
Empire: Belize Online Casino License Page: https://empireglobal.partners/belize-online-casino-license/
Official page of Beltraide: https://www.belizeinvest.org.bz/gaming-control/
To know more about the country, please visit: www.belize.gov.bz/
You can also visit https://www.youtube.com/watch?v=ABIZKkNgVM8 to know more about Belize.