GBO offers a full service in Curaçao: company setup, licensing, AML policies, compliance, audits, system setups, banking, and integrating crypto wallets and merchant accounts.

 

  1. According to the recent update from 16.1.2024
  2. Curacao Gaming Authority license renewal and convert sub-license to master license

 

We offer a complete package according to Curacao’s Gaming Control Board and LOK new requirements:

License Application Process:

  1. Curacao Gaming License Applications: Handling new applications, including submission and preparation.
  2. Document Management: Collection and preparation of necessary documents for license application.

Comprehensive Legal Services:

  1. AML Framework: Implementing Anti-Money Laundering frameworks.
  2. Compliance Officer and Policies: Provision of compliance officers and development of compliance policies.
  3. Regulatory Audits: Conducting audits under new regulations, including IT audits.

Corporate Structure Setup:

  1. Company Formation: Establishing a Curacao company.
  2. Local Director Provision: Appointing a local director for regulatory compliance.

Financial Services:

  1. Banking Solutions: Setting up bank accounts in European financial institutions.
  2. Merchant Accounts: Establishment of merchant accounts for transaction processing.
  3. Cryptocurrency Solutions: Integration of cryptocurrency wallets for digital transactions.

Technology and Platform Solutions:

  1. White-Label Casino Solutions: Offering white-label online casino platforms.
  2. Gaming Software: Provision of diverse gaming software options.
  3. Gaming Platforms: Developing and integrating various gaming platforms.

Licensing of a Full Range of iGaming Products:

  1. Comprehensive licensing services for all iGaming products including online casinos, mobile apps, sports betting, poker, lotteries, and bingo.

Contact Our Experts About Your New Curacao Gaming License:

WhatsApp us: +972504938469, email us: info@gbo-il.com

    We’re experts in obtaining both the New Curacao gaming license B2B and New Curacao gaming license B2C. We offer a comprehensive range of services, including bank account opening, software procurement, and merchant account acquisition, to facilitate the seamless commencement of your online business.

     

    With a proven track record of success and a deep understanding of the local regulatory landscape, GBO has established itself as a leading expert in all aspects of the Curacao gaming industry. From licensing and company formation to assistance with online casino white labels, GBO offers a comprehensive package of services that enables clients to achieve their goals in this highly competitive market. As the new regulations for Curacao gaming licenses are set to be implemented in the summer of 2023, GBO is well-positioned to continue its leadership in providing top-tier corporate services to gaming operators in Curacao

    As of 21.12.2023

    Revised Legislation Update

     

    1. Introduction of the LOK Law in Curacao Parliament
      • Curacao is introducing a new law, known as the LOK, to its parliament. This law is set to bring significant changes to the licensing process for online gaming.
    2. Mandatory Individual Licensing for Sub-Licensees
      • The main goal of the LOK law is to require all sub-licensees to obtain their individual licenses by the end of March. Failure to comply risks losing their license once the LOK law is enacted.
    3. Deadline for Sub-License Registration and Direct License Applications
      • Sub-licensees must register on the GCB portal and apply for direct licenses before the 31st of March, 2024. Post this deadline, the opportunity for such applications will no longer be available.
    4. Changes in Renewal Process for Current Gaming Licenses (Master Licensees)
      • Moving forward, there will be no further extensions or renewals for existing Master Licenses. Master Licensors can continue operations and allow their sub-licensees to operate only until the current license renewals expire or until the LOK law is enforced, whichever is sooner.
    5. Notification Requirement for Master Licensors
      • Upon the implementation of LOK or when there are 12 weeks or less remaining on their current renewal (whichever comes first), Master Licensors must inform the GCB about which sub-licensees are still contracted with them.
    6. Future Licensing for Master Licensors
      • Master Licensors interested in continuing their operations after the implementation of the LOK law will need to wait until its enactment and then apply for a new license under the new regulations

    As of October 2, 2023

    Revised Legislation Update

    Portal Access and Guidelines

    Every operator, be it new or currently operating, is mandated to have an individual account on the designated portal. An account corresponds to a singular operator and is not to be used for varied applications or registrations. These operators should legally operate under the purview of Curaçao laws. They might already be active participants in the online gaming ecosystem under a NOOGH-based license or might be new entrants aspiring for an online gaming license.

    Legislation Evolution

    Curaçao’s government is on the path to revising and contemporizing its online gambling regulations. A forthcoming act, termed as “Landsverordening op de kansspelen” (Lok), is slated to supersede the existing National Ordinance on Offshore Games of Hazard (Landsverordening buitengaatse hazardspelen, P.B. 1993, no. 63) or NOOGH.

    *In view of the imminent Lok enactment, Curaçao’s Finance Ministry has resumed the licensing procedure under the established NOOGH guidelines.

    Current Operators and Licensing

    In light of the impending Lok, the government is deliberating on transitional provisions for operators that currently hold a NOOGH license. This initiative aims to offer them an interim operational window without the immediate compulsion of a new license acquisition. This primarily concerns operators under a sub-license. They will need to align with the online portal, ensuring they furnish accurate details to ascertain their legitimate establishment in Curaçao.

    Expectedly, the registration interface will be operational from November 1, 2023, with no associated registration charges.

    Licensing Procedures for New Entrants

    Prospective licensees are advised to initiate their formalities by registering on the designated portal and collating the required documentation. These can be sourced from this link. The stipulated forms include:

    • The Online Gaming Application Form
    • Details regarding Business and Corporate affiliations
    • A comprehensive Personal History Disclosure Form

    It’s worth noting that the “Personal History Disclosure Form” is essential for:

    • Principal shareholders with a stake of over 10%
    • Executive board members
    • Key personnel, inclusive of roles like the CEO or Compliance overseer.

    All submissions need a digital format, with manual submissions being non-compliant. Digital signatures, where required, can be appended using tools like Acrobat Reader or Acrobat Pro.

     

     

    As of 12.7.2023

    Updates regarding the Curacao licenses:

    Starting from September 1, 2023, Curacao sub-licenses will no longer be renewed, which means if your company has one, it won’t be valid. But don’t worry, we have a great alternative license that is quite similar to Curacao. You can contact us on WhatsApp or send us a message for more details.

     

    What is the difference between B2B VS B2C licenses?

    Curacao is a well-known jurisdiction that grants online gaming licenses to operators. Curacao eGaming Authority is the regulatory body in charge of issuing the licenses. Curacao eGaming licenses are going to be  divided into two types:

    1. Curacao gaming license B2B
    2. Curacao gaming license B2C

     

    Companies that provide gaming services to other companies are granted B2B licenses, whereas companies that provide gaming services to players are granted B2C licenses. The primary goal of this research is to investigate the differences between the Curacao gaming license B2B and B2C, as well as their features, requirements, and benefits to licensees.

     

    The benefits of Curacao B2B and B2C gaming licenses

    B2B Curacao Gaming License:

    A Curacao gaming license B2B is issued to companies that provide gaming services to other companies. These services may include software development, game hosting, and other related services. The licensee may provide gaming services to other businesses without obtaining a separate license. The following are the primary requirements for obtaining a B2B license:

    1. The business must be registered in Curacao or have a representative office there.
    2. The company must have a well-defined business plan as well as financial projections.
    3. The business must have a valid operating agreement with its customers.
    4. The organization must have a strong anti-money laundering and responsible gaming policy in place.
    5. The organization must have a secure and dependable IT infrastructure.

    The following are the primary advantages of a Curacao gaming license B2B:

    1. Tax rates are low in comparison to other jurisdictions.
    2. Application procedure that is both quick and efficient
    3. There is no requirement for physical presence in Curacao.
    4. Access to a variety of payment options
    5. Low operating expenses

    B2C Curacao Gaming License changes:

    Companies that provide gaming services directly to players are granted a Curacao gaming license B2C. The licensee is permitted to offer a variety of games, including casino games, sports betting, and lottery games.

    The following are the primary requirements for obtaining a B2C license:

    1. The business must be registered in Curacao or have a representative office there.
    2. The company must have a well-defined business plan as well as financial projections.
    3. The business must have a valid operating agreement with its customers.
    4. The organization must have a strong anti-money laundering and responsible gaming policy in place.
    5. The organization must have a secure and dependable IT infrastructure.
    6. Curacao must have a physical presence for the company.

    The following are the primary advantages of a Curacao gaming license B2C:

    1. Tax rates are low in comparison to other jurisdictions.
    2. Application procedure that is both quick and efficient.
    3. Access to a variety of payment options.
    4. There are no restrictions on the types of games that can be provided.
    5. There is no need for a local partnership or sponsorship.

    Curacao Gaming License B2B and B2C Comparison:

    The target market is the primary distinction between the two types of licenses. B2B licenses are intended for businesses that provide gaming services to other businesses, whereas B2C licenses are intended for businesses that provide gaming services directly to players. B2B licenses do not require a physical presence in Curacao, whereas B2C licenses do. Both licenses necessitate a strong anti-money laundering and responsible gaming policy, as well as a safe IT infrastructure. Both licenses provide low tax rates and access to a variety of payment options.

     

    New updates on Curacao gaming license new regulation by the Curacao Gaming Authority in summer 2023

    Curacao is implementing a new regulation to overhaul the entire licensing system for the island’s gaming industry, set to be launched in the summer of 2023. This will see the creation of an independent regulatory body, the Curacao Gaming Authority, replacing the Curacao Gaming Control Board. The new authority will issue independent B2C and B2B licenses, with already licensed companies under the previous regime having a chance to express interest in a new permission. The consequences of operating without a gambling license are serious, with unlicensed casinos developing a bad reputation among players.

    Contact our experts about your new Curacao Gaming License, we will handle everything

    WhatsApp us: +972504938469, email us: info@gbo-il.com

       

      Licenses for New Businesses

      From November 15, 2023, businesses interested in entering the domain can formally apply for licenses as per the prevailing NOOGH guidelines. The GCB will be the chief regulatory body overseeing these applications through an online medium.

       

      As of July 12, 2023

      The Curacao financial authorities have not released any new licensing framework. This has caused uncertainty for thousands of companies in Curacao regarding their regulation. However, we have a fantastic solution for licensing, which is similar to the Curacao license. It’s called the Anjouan Gaming license. Please contact us for more information.

       

      Curaçao AML regulations

      Curacao’s AML rules for the gaming industry include a number of rules that are meant to stop money laundering and the funding of terrorism. Gaming operators must get licenses (sub-license from a master license) from the Curacao Gaming Control Board (GCB) and follow strict rules to keep their customers in a safe and open environment. Key parts of these rules, which are not specific to Curacao but to all other regulated jurisdictions, include putting in place procedures called “Know Your Customer” (KYC) and “Customer Due Diligence” (CDD) to find out who a customer is and get relevant information about them. Operators must report suspicious transactions or activities to the Financial Intelligence Unit (FIU). This makes sure that possible criminal activities are found and stopped as soon as possible.

       

      Also, gaming operators have to keep detailed records of customer transactions and identification documents for at least five years so that regulatory authorities can easily get to them when they need to. Regular training for employees makes sure that they understand and follow AML rules, can spot potential risks, and help keep the gaming environment safe. Risk assessments must be done on a regular basis to find and reduce any money laundering and terrorist financing risks that may be linked to the businesses of the operators. Lastly, operators must choose an AML Compliance Officer to oversee the implementation, monitoring, and updating of the company’s AML policies and procedures in line with Curacao’s regulatory requirements.

       

      New Curacao gaming license costs

      To obtain the new Curacao gambling license, companies will have to pay around 5,000USD application fee and a yearly license fee of 15,000 USD. They will also need to appoint key employees to oversee anti-money laundering activities and responsible gambling policies.

       

      GBO will continue to lead the Curacao gaming licensing and offer a full package for complete gaming operations under the new regulation, including licensing, company formation, bank accounts, merchant accounts, and assistance with online casino white label.

       

      The Curacao Gaming Authority is the regulator for the Curacao land-based and online casino industry, as well as the licensing authority for all lotteries, charity bingo and the licensing authority and supervisor for online gaming. They are also the supervisor for the Curacao gaming industry for compliance with legislation and regulation regarding anti-money laundering and countering the financing of terrorism (AML/CFT). The Curacao Gaming Authority partners with the Central Bank of Curacao and Sint Maarten (CBCS) and the Financial Intelligence Unit (FIU) Curacao as fellow AML/CFT supervisors.

       

      The Curacao Gaming Authority regulates the land-based casino industry and is charged with granting, amending, revoking, and suspending licenses related to the lottery industry, as well as those for the charitable bingo and online gambling. Since February 2019, the board is responsible for the AML/CFT supervision for the entire gaming industry operating on and from Curacao. In March 2020, the board was charged with the licensing for and supervision of the Curacao online gaming sector on behalf of the Minister of Finance. The government is modernizing its gambling legislation to bring it in line with international standards and adopt a responsible gaming policy for all licensed gaming activities in the jurisdiction. The Gaming Control Board will be converted into a new independent licensing and supervisory authority for all games of chance under this new law.

       

      Why did Curacao change the gaming regulations and the legal frame work?

      According to Curaçao’s Minister of Finance, Javier Silvania, there are 3 main reasons:

      1. Economic Advantages:

      Despite having a large number of operators, Curacao earns a disproportionately small amount from the gaming industry compared to other jurisdictions. For example, in 2022, the Malta Gaming Authority reported 82 million euros in licensing revenue, while Curacao earned approximately 250,000 euros. These disparities demonstrate that Curaçao must reevaluate its strategy. A well-managed gaming jurisdiction can have widespread economic benefits, not just from direct revenues but also from mandatory services supporting gaming operations, increased local employment, property leasing, international connections, software development, training, and more. The online gaming industry has substantially contributed to the gross domestic product (GDP) of countries such as Malta, resulting in substantial economic growth.

      2. Social Advantages:

      The purpose of revitalizing Curacao’s legislative landscape is to establish it as a center of excellence for the gambling industry. This provides numerous employment opportunities. By collaborating with educational institutions to provide industry-specific training, the island can acquire specialized skill sets that are currently unavailable. In addition, the emergence of entertainment hubs can revitalize neighboring areas by attracting diverse businesses and fostering economic growth and development. These changes present an opportunity for the general population to acquire a variety of skills, ranging from customer service to cybersecurity, ensuring that the community will not only grow, but also thrive.

      Reputational Advantages:

      The current perception of Curacao as a gambling jurisdiction is not favorable. The intent of the new legislation is to alter this perception. In addition, the Financial Action Task Force (FATF) monitors gambling jurisdictions very closely. Gibraltar was placed on the FATF’s grey list because of deficiencies in its Anti-Money-Laundering (AML) measures. Being on this list has far-reaching consequences, ranging from trade restrictions to difficulties in raising capital. To avoid these consequences and enhance the country’s international reputation, Curacao’s gambling industry must have robust AML laws.

      FAQs

      Where Can You Most Easily Acquire a Gaming License?

      Even though there are some requirements, the process has been made simpler and easier to apply for a gaming license. Curacao is perhaps the most straightforward jurisdiction for securing a gaming license.

      What Are the Different License Types in Curacao?

      In Curacao, licenses are bifurcated into:

      1. Primary Licenses.
      2. Secondary License Agreements. The entire licensing model will undergo an overhaul in the near future, eliminating the provision for secondary licensing.

      What Does a Curacao License Represent?

      Gaming in Curacao is an authority responsible for the licensing and oversight of online gambling platforms. Nestled in the Caribbean’s island nation of Curacao, it has been granting gambling permits since 1996. This authority presents a versatile and economically viable licensing route for online gambling entities.

      Which Countries Recognize the Curacao Gaming License?

      Entities licensed in Curacao cannot cater to players from countries like the USA, France, Australia, the Netherlands, or even Curacao itself. Nevertheless, the only regulatory procedures are the universally accepted KYC, AML, and CFT guidelines that are standard for online casinos worldwide.

      Is Online Gambling Legal in Curacao?

      Only companies based within Curacao’s boundaries are eligible for an online gambling license from the jurisdiction. A singular license from Curacao suffices for all online gaming variants, eliminating the need for distinct licenses for individual games.

      Curacao’s language: Dutch or French?

      Reference: Curacao on Wikipedia is an integral part of the Kingdom of the Netherlands. Alongside Aruba and Bonaire, it’s one of the ABC islands. The Dutch Caribbean is a collective term often used for Curacao, Aruba, and other Dutch-affiliated islands in the Caribbean.

      Languages Spoken in Curacao?

      Curacao acknowledges three official languages: Papiamentu (a blend of Portuguese, Dutch, Spanish, and English), Dutch, and English. Additionally, Spanish has a significant presence on the island.

      What is Curacao’s Gaming License?

      This is a credible licensing mechanism catering to diverse gaming activities, ranging from gambling and betting to skill-oriented games. Through its licensing architecture, Curacao facilitates an extensive array of electronic betting services.

      Is Curacao’s Gaming System Trustworthy?

      Yes. The gaming license from Curacao is not only credible but is also comparatively more accessible for acquisition. Established in 1996, this regulatory authority enjoys a reputation as one of the globe’s most consistent and reliable entities.

      About the Author: Gilad Oren

      With over 25 years of experience, I have cultivated a career marked by entrepreneurial spirit and deep financial expertise, particularly in finance and online marketing. My professional journey began in the private banking and investment sectors, where I sharpened my skills for many years before making a significant pivot. I ventured into entrepreneurship by founding an Electronic Money Institution (EMI) and later incorporated GBO International Financial Services.   At GBO, we have established ourselves as a comprehensive provider of global corporate services, including company formation, banking assistance, and licensing for gaming and crypto sectors, alongside merchant account consultancy and digital public relations. My career is a testament to combining industry knowledge with entrepreneurial zeal to create impactful solutions in the financial and online marketing landscapes.   Let's connect in LinkedIn: https://www.linkedin.com/in/gilad-oren-326231220/

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