Casinos Regulated by Curaçao Gaming Control Board
How it Works?
Curaçao
Available type of company organization in the virtual gambling sector:
A limited liability company or a private limited liability company.
Corporate tax rate:
According to the current tax legislation in Curaçao, each platform is obliged to pay a levy of 2% of gross profits, excluding import duties and sales tax.
Additional gaming levy:
None.
Minimum share capital for a company operating in the gambling sector:
A minimum amount of share capital is required to integrate into the Curaçao jurisdiction.
Security requirements and reimbursement for player deposits:
Security requirements and compensation for lost player deposits due to protection system flaws are imposed on the holder of the Master License.
License fees:
The cost can vary in the following price range: from $1000 to $5600 at the discretion of the Master License holder.
Validity period of purchased licenses:
A sublicense may be valid for a period pre-determined by the Master License holder, which, in turn, has a specific term of validity in accordance with jurisdictional rules – 5 years. It is worth noting that the Master License can be automatically renewed if all requirements are met by the online platform and there have been no complaints from regulators during operation.
Processing of gaming transactions through computing facilities of local banks:
Local banks do not support work with companies in the gambling sector. However, foreign banks willing to cooperate under the jurisdiction’s conditions may be engaged.
Available types of bandwidth:
- Multi-gigabit channel;
- International fiber-optic lines;
- Self-healing network (operates 24/7, 365 days a year);
- Possibility of full data redundancy.
Requirements for testing the software used:
Certification of the Random Number Generator (RNG): The Minister of Justice must give approval for its integration into the online platform.
Reporting requirements that online casinos and financial regulators must satisfy:
The results of any communication between the casino and the player (payouts, correspondence, etc.) must be recorded and available to the supervisory authority upon first request.
Anti-money laundering policy for online casinos:
International standards are applied for combating money laundering through gambling. The KYC policy is applicable to all platforms operating within the Curaçao jurisdiction.
Territorial restrictions on the distribution of gambling content:
Netherlands Antilles.
Contact details of the government department or regulatory authority:
Address: Ministry of Justice of the Netherlands Antilles Metro station Wilhelminaplein, Curaçao, Netherlands Antilles Contact person: Herbert Coffie Email: [email protected]