Montenegro-empire legal

By Lionel Iruke, Esq. Managing Attorney EmpireFollow on Twitter @RealEmpireLegal

Podgorica, Montenegro, March 29th, 2016E-GAMBLING MONTENEGRO two words when fused together, brings up visions of James Bond, fast cars, beautiful women, and amazing gadgets. In 2016, obtaining an online gaming license in Montenegro has made that Bond-Esque vision not too far off from reality.  The rapidly growing Balkan nation of Montenegro has carved a niche for itself as one of the most stable economies of the region which has made it a preferred investment destination for investors from across the globe.

A central European Nation on the shores of the Adriatic Sea, Montenegro is a must-visit destination for anyone looking for a slice of medieval charm and history. Few authors have called it a slice of Adriatic heaven and as I look through the new skyline of Podgorica, I see the desire of a country to create a balance between modern infrastructure and preserving its rich heritage.

Precisely, keeping this target in mind, this delightful country has looked for ways to modernize its economy and Montenegro has encouraged reforms at a rate much faster than the other Balkan countries. From a low-income tax rate of 9% to accept the Euro as the currency, the country has tried to make it as smooth as possible for businesses to flourish in the country.

No surprises then that Montenegro also saw an opportunity in developing it as an Online gaming hub.  It brought about the Decree on Promulgation of the Law on Games of Chance, 2007, one of the first legislations recognizing online gaming in the world. The industry in Montenegro, on the other hand, is regulated by the Games of Chance Administration (Gambling Authority). The Montenegrin License is highly prized as it allows conducting multiple games on a single license providing flexibility and value to its holder.

In 2011, online gambling was given full licensing power in order to operate, meaning financial hosting and services are all independently run by the companies running online casinos in Montenegro; ushering in one of the most progressive mindsets towards online gambling. Registration is usually a fast process, with licenses given out under 2-3 weeks time, at most. Moreover, taxes are low in order to drive revenue.

In 2015, Bitcasino.io, the became the world’s first legally licensed and regulated online Bitcoin-only casino gaming and sportsbook operator, and integrated the first-ever video themed slot designed for Bitcoin players and expanded its portfolio with the addition of a further 20 games for mobile and desktop. With the help of Empire, several other Bitcasino projects are in the works, utilizing Montenegro as a primary place to launch.

As an overview the main steps before applying for a license are:

  • Forming a Company in Montenegro
  • Registering with the Tax Authorities
  • Preparing books of accounts and opening bank accounts.
  • Designing a website and arrangement for payment processing.

Details about the license procedures are available at https://empireglobal.partners/montenegro-license/

How do I get a Montenegro Gaming License?

At first glance, most of the steps for application look intimidating. But fear not! Empire has started a special medium called the “The Integrated Package” which is now the preferred option for almost all license seekers as it makes the entire process hassle-free and simple by completing all necessary formalities from forming a company to payment processing. It also enables you to start your business within 4 months under most situations.

Keeping in mind the needs of the applicants, the integrated package starts with registering a company and tax registration. This is followed by an introduction with a bookkeeping firm in Montenegro that will assist you with your yearly account preparation. The package also takes care of banking and payment processing needs which are also essential to start with your business.

The package is designed to ensure that your business is ready to start and it is no surprise that it also includes an assistance option for the applicant enabling him to receive assistance as per requirement.

Trust Empire for your Montenegro Gaming License

Your business plans should not be delayed anymore. Empire ensures that you have a ready to operate the business and all ends of your licensing needs are covered. You are free to focus on your business and even in any remote circumstances that you have a hurdle; personal guidance is available for every question. The experts at Empire can be reached through their website www.empireglobal.partners or by email at info@empireglobal.partners

For more information please visit:

Empire: Montenegro Gaming License Page: https://empireglobal.partners/montenegro-license/

Sources: Gaming Authority Montenegro (https://www.upravazaigrenasrecu.me/1/index.php/en/homepage/item/55-games-of-chance-administration)

To know more about the country, please visit: https://www.gov.me/en/homepage/

For more information on the legislation behind the program, please visit:

Decree on Promulgation of the Law on Games of Chance:  https://www.upravazaigrenasrecu.me/1/images/EN/Law on Games of Chance.pdf

PLEASE CONTACT US TO GET MORE INFORMATION!

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By Lionel Iruke, Esq.Managing Attorney Empire

SAN JOSE, COSTA RICA: It is the most visited country in Central America and is considered to be one of the greenest countries in the world. The country frequently leads in environmental sustainability indexes and has carved a niche for itself through ecotourism endeavors. The forests of Costa Rica provide relaxation for many tired American minds so much so that the tourism program of the country now reads “Costa Rican Animals for Overworked Americans!”

But beneath the ecotourism programs and tourism, the Government of Costa Rica has tried to promote businesses in the country both in the manufacturing and the services sector. And among the measures is the promotion of the online gaming business in the country. Since the early 2000’s due to the flexible policies of the Government and the large scale popularity of internet-based gaming, from 5DIMES to BODOG a large number of online Casinos have selected Costa Rica as a hub for their operations and there is no reason that it stop anytime soon.

Eligibility for acquiring a Costa Rica Gaming License

Notably, since there is not an official governmental framework governing online gambling, no “official” Costa Rican E-gaming License exists. However, there are official Costa Rican company structures that permit most online activity including E-Gaming. The first step for acquiring a license is the formation of a local Costa Rican company normally in the form of a “Corporation (Sociedad Anonima or “S.A.”)”. The process of registering a company normally involves a number of processes which include:

(a) Registering the name of the company
(b) Payment of registration Fee and depositing capital in bank
(c) Registration with taxation authorities

The next step is obtaining a Data Processing License for starting your business. This license is specifically issued for operating servers for the gaming business in Costa Rican territory.

For a detailed explanation of the registration requirements please visit:

Costa Rica License Technology Company

Advantages of a Costa Rica Gaming License

A Costa Rica Gaming License is highly preferred as there is no need for compliance with any second regulator specifically for the purposes of the gambling license and compliance with company laws is sufficient. The fact that there is no need to pay any taxes on the global income also makes it an attractive business destination.

The absence of a second regulator also means a large degree of freedom in operating a number of innovative forms of games and possibilities for the introduction of new games at a faster rate. This ultimately translates to greater satisfaction both for the customers and the business owners.

Let Empire guide you to a Costa Rica Gaming License

The fastest and most efficient way to a Costa Rican gaming company structure is with Empire and their team of Gaming experts. The experts at Empire reduce your hassles and take care of all the steps including company and tax registration. With less time required for the licensing process, you can focus on building your business and maximize your earnings through a unique product. All of this is possible due to the flexibilities provided by Costa Rica and the experts at Empire who can be contacted at info@empireglobal.partners

For more information, please visit:

Costa Rica License Technology Company

Sources:

To know more about the country, please visit :

https://www.visitcostarica.com/ict/paginas/home.asp?ididioma=2

For more information on the regulators, please visit:

Costa Rica Commerce, Industry and Economy Ministry

PLEASE CONTACT US TO GET MORE INFORMATION!

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