The pitfalls of the Curacao license

Curacao licenseWhat are the features of the Curacao license? This document gives the right to conduct any type of gambling business: casinos, bookmakers, etc. The main feature is that the registered office receives not only official permission, but also a net income of 2%.

Curacao is an island that belongs to the Netherlands, therefore it also received the status of a country of the European Union. However, this territory has a simplified taxation system than in other countries. More information can be found here — https://www.begambleaware.org/

How to get permission

This process is divided into several stages:

  1. OK. To do this, you need to collect certain documents and pay a fee of $ 1,500. After that, a request is submitted, which is processed within 24 hours.
  2. Submission of the application. The completed form, together with a receipt for payment of the fee, is sent to the special gambling commission.
  3. Evaluation of use. If the applications do not meet the requirements, then the package of documents will be sent to the applicant for revision.
  4. Getting started. After obtaining a license, the applicant must start their activities within 2 months.

The main advantages and disadvantages of the license

Most gambling establishments prefer to obtain a Curacao license because of the following advantages:

  1. An easy and fast process for obtaining an official permission to conduct a gaming business.
  2. Simplified taxation system of the island. Only 2% of net profit goes to the treasury.
  3. Low registration cost. The operator is required to pay $ 34,000, as well as an additional $ 5,600 each month. The last amount is paid over 2 years.
  4. The main license holder of Curacao can issue sub-licenses, while bearing responsibility for their validity.
  5. A general license is issued for the gambling business, which does not indicate a specific type of gambling.
  6. High quality technical and financial support. Any problems are solved in a short period of time. Especially if gamblers give preference to proven institutions, such as — Fastpay Casino.

The main drawback is that the license has a low status, since any operator can get it. To do this, you need to open a business and have a certain amount of money. In addition, if the gambling establishment disappears, then Curacao is not responsible for the deposited funds.

However, most gamblers do not pay attention to the license. Therefore, they continue to play their favorite games.