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alexsports

New member
Hello,

I am working on an online sportsbook and casino online site with some developers.

However, into some problems.
First, online gaming is illegal in my country.
second is that have to use an offshore company to provide development and services.

Some gambling sites use turnkey systems, but we have developers and we try to build everything we do.
These developers cannot develop in my country. we want to acquire a Curacao license.
we plan to establish a company for development in a country where salary are low and developers are abundant, such as Ukraine or Belarus.

The second is an office for operate the site. I will work passionately. However, it may require a some people.
However, it seems difficult to operate an office in Ukraine with a Curacao license. what should i do?

Finally, the payment system. Basically, we mainly use cryptocurrencies such as Bitcoin, but we also want to integrate systems such as general cards and Neteller.
But unfortunately, my knowledge doesn't get there.

It is basically the picture I chose.

1. Curacao NV (Nominee service required)

2. Costa rica company (for CS or running site)

3. Ukraine branch( Privacy for shareholder) (Costa rica company) (for Developement site)


I am looking for a consultant who understands this situation and can work with me.
want a close relationship with a long breath.
Since my site is in preparation, I am willing to pay consulting fees until then.
 

Sols

Staff member
Mentor Group Gold
Regardless of who you end up working with, here are some pointers...

A common setup for something like this would be Curaçao licensed company which owns an EU company which acts as a payment agent. This is what you see on nearly all other Curaçao licensed gambling websites. The payment agent is nearly always incorporated in Cyprus because Cyprus has lenient transfer pricing rules. The Curaçao company is owned by the founders/UBO but the shares are usually held by the corporate service provider in Curaçao, so as to keep their names away from public record.

In most cases, software developers, support staff, and other operations are hired as third-party contractors or, in some rare cases, are employed by a third company. This third company is in turn a contractor to the Curaçao licensed company. If the developers are in Ukraine they can work as independent contractors and pay very little tax for themselves.

Costa Rica is not a great choice for a new startup. It's popular with some older companies but the reputation Costa Rica nowadays has in igaming will cause problems.

If you build your own games, you may need to get the games tested for fairness. This is easy with sports betting but you need to meet certain criteria.

Finally, Curaçao is about to change a lot in 2020 and 2021 as new laws come into place. It will probably remain the best offshore option but expect regulations to get tighter.
 

nitehawk

Active Member
Sols provided some good advice. I would say the single most important thing is payment processing. Less than 1% of gamblers in the international market will use bitcoin so its almost useless. You should add a 3rd party cashier to your site, they can help you with introductions (that you wont be able to find on your own) allowing you access to alternative payment methods and proper redundancy for cards.
 

alexsports

New member
Regardless of who you end up working with, here are some pointers...

A common setup for something like this would be Curaçao licensed company which owns an EU company which acts as a payment agent. This is what you see on nearly all other Curaçao licensed gambling websites. The payment agent is nearly always incorporated in Cyprus because Cyprus has lenient transfer pricing rules. The Curaçao company is owned by the founders/UBO but the shares are usually held by the corporate service provider in Curaçao, so as to keep their names away from public record.

In most cases, software developers, support staff, and other operations are hired as third-party contractors or, in some rare cases, are employed by a third company. This third company is in turn a contractor to the Curaçao licensed company. If the developers are in Ukraine they can work as independent contractors and pay very little tax for themselves.

Costa Rica is not a great choice for a new startup. It's popular with some older companies but the reputation Costa Rica nowadays has in igaming will cause problems.

If you build your own games, you may need to get the games tested for fairness. This is easy with sports betting but you need to meet certain criteria.

Finally, Curaçao is about to change a lot in 2020 and 2021 as new laws come into place. It will probably remain the best offshore option but expect regulations to get tighter.
Regardless of who you end up working with, here are some pointers...

A common setup for something like this would be Curaçao licensed company which owns an EU company which acts as a payment agent. This is what you see on nearly all other Curaçao licensed gambling websites. The payment agent is nearly always incorporated in Cyprus because Cyprus has lenient transfer pricing rules. The Curaçao company is owned by the founders/UBO but the shares are usually held by the corporate service provider in Curaçao, so as to keep their names away from public record.

In most cases, software developers, support staff, and other operations are hired as third-party contractors or, in some rare cases, are employed by a third company. This third company is in turn a contractor to the Curaçao licensed company. If the developers are in Ukraine they can work as independent contractors and pay very little tax for themselves.

Costa Rica is not a great choice for a new startup. It's popular with some older companies but the reputation Costa Rica nowadays has in igaming will cause problems.

If you build your own games, you may need to get the games tested for fairness. This is easy with sports betting but you need to meet certain criteria.

Finally, Curaçao is about to change a lot in 2020 and 2021 as new laws come into place. It will probably remain the best offshore option but expect regulations to get tighter.
Thanks for your kind advice.
 

alexsports

New member
Sols provided some good advice. I would say the single most important thing is payment processing. Less than 1% of gamblers in the international market will use bitcoin so its almost useless. You should add a 3rd party cashier to your site, they can help you with introductions (that you wont be able to find on your own) allowing you access to alternative payment methods and proper redundancy for cards.
Thank you for your reply

Is it necessary to have a license to link the payment processing?
 

Sols

Staff member
Mentor Group Gold
Let's just say it's a hundred times easier to find payment processing with a license than without. You can do it but it won't exactly be the most reliable processors.
 

Sir Jorah

New member
Hello,

I am working on an online sportsbook and casino online site with some developers.

However, into some problems.
First, online gaming is illegal in my country.
second is that have to use an offshore company to provide development and services.

Some gambling sites use turnkey systems, but we have developers and we try to build everything we do.
These developers cannot develop in my country. we want to acquire a Curacao license.
we plan to establish a company for development in a country where salary are low and developers are abundant, such as Ukraine or Belarus.

The second is an office for operate the site. I will work passionately. However, it may require a some people.
However, it seems difficult to operate an office in Ukraine with a Curacao license. what should i do?

Finally, the payment system. Basically, we mainly use cryptocurrencies such as Bitcoin, but we also want to integrate systems such as general cards and Neteller.
But unfortunately, my knowledge doesn't get there.

It is basically the picture I chose.

1. Curacao NV (Nominee service required)

2. Costa rica company (for CS or running site)

3. Ukraine branch( Privacy for shareholder) (Costa rica company) (for Developement site)


I am looking for a consultant who understands this situation and can work with me.
want a close relationship with a long breath.
Since my site is in preparation, I am willing to pay consulting fees until then.

I am the one you quoted for pm. My ťėIėgrâm Jeremywest
 

boomy

Mentor Group Gold
Without a license for your business you will need to find some of the payment processors around that still able to put your transaction into a mix of other transaction so they get uncoded to the card issuer. If that still works long term I doubt.

If you find a high risk processor taking on your business, be prepared for high rates and fess and you properly will end up with a lost since they will make a Houdini with your money.
 

dirtyharry

Mentor Group Gold
If you find a consultancy firm that is able to help you with the setup of a sportbetting company, licensed, please don't hesitate to come back here and let us know a name.
 

20212022

New member
Hello, try Georgia for your operations. Here you can operate with the Curacao license. Regarding the payment processing, check the cashier software provider who can also provide you the suggestions.
 

Cetme308win

Entrepreneur
If I were you instead of Costa Rica I would incorporate the company in Panama and other in Czech Republic for Payments processing
 

Admin

Forum Moderator
Staff member
Elite Member
If I were you instead of Costa Rica I would incorporate the company in Panama and other in Czech Republic for Payments processing
what would this setup look like?
 

Cetme308win

Entrepreneur
what would this setup look like?
The Panama company owns the Curaçao company as well as the 50% of the Czech company acting as well as the director of both companies...the other 50% shares would be own by the Cuuraçao company ...

You use actually the Czech company just as a payments agent and the Curaçao one for managing the website but doing the real business and receiving most earnings through the Panama company at a 0% tax rate
 
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