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.
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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 firstname.lastname@example.org
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