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Offshore gaming licenses

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Vouggy

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Nov 6, 2017
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#1
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Hello Everyone,
I am developing a telegram bot that deals with gambling. I want to keep everything legal, but I don’t want to pay $50k for a Gibraltar or Curaçao gaming license. I just want to know if anyone knows of anything cheaper. I did find Costa Rica’s data processing licenses very reasonable ($10k) but would there by any alternatives to this? I know this isn’t offshore banking but I’m just looking for a little help.

Thank you in advance.
-vouggy
 
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#3
Milky Moon said:
1) there us no Costa Rican gaming license, and a data processing license is not needed.
2) you will not get a bank account for a Costa Rican gambling entity, licensed or unlicensed, so unless you go crypto CR is not an option.
Click to expand...

My bot will only work with cryptos but I do want to be within the law if telegram comes after me. What would be the best jurisdiction to help me obtain a gaming license cheaply. I feel like I’m in a spot
 
#4
Curaçao is the cheapest option with the most lax take on gambling in my opinion. As stated above, Costa Rica is a very popular destination for unlicensed casinos (primarily crypto), but good luck with bank operations. Go Curaçao. Incorporate an NV held by a management company, get a gambling license, and have your hosting and financials looked after. Will cost ~€10k right off the bat, and you'll incur monthly / yearly fees associated with management, hosting, and gambling license administration.
 
#5
Seems indeed that Curacao is indeed the right place for gambling and according to the guy @offshorewebhosting that was active the last day.
 
#6
One vote more for Curaçao.


You will find provider around that will do the whole setup (with Sub-License) including first year fees between $15 - $20K including a operating company.
As long you do not plan to resell license, there is no reason to go for a Master license there.

This setup is accepted by credit card merchants, Skrill, netteller, paysafecard ... in case you wan't allow more possibilities to get money.
 
#7
Is Curacao considered a part of EEA since it's the part of Kingdom of Netherlands? I believe it is but would like a confirmation of someone who has solid opinion here.
Does somebody have an experience what this license practically mean? Am I (as a gambling provider) a subject of regular audits and mandatory reporting to some local authorities? Or nobody cares what you do and how?
 
#8
You want to chck out this Cost of a Gambling License they have been active here on the forum last week, they seem to be a valid provider and may know all your questions about Curacao.
 
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#10
I'm dealing with a provider in Curaçao currently as well. Highly recommend their services. They're currently incorporating a new NV company for us, will provide all administration and financial work for the company, and provided us with hosting and compliance solutions. We already had an operating company setup in the EU, so no need for that. They have a very broad spectrum of services they offer, and have been a leading frontrunner in the industry for a very long time. Search up https://www.curacao-egaming.com/. They've been very professional and helpful.
 
#12
Milky Moon said:
1) there us no Costa Rican gaming license, and a data processing license is not needed.
2) you will not get a bank account for a Costa Rican gambling entity, licensed or unlicensed, so unless you go crypto CR is not an option.
Click to expand...
Hi, is there any websites you would recommend to register a costa rica gambling company? thank you
 
#13
#15
void said:
Is Curacao considered a part of EEA since it's the part of Kingdom of Netherlands? I believe it is but would like a confirmation of someone who has solid opinion here.
Does somebody have an experience what this license practically mean? Am I (as a gambling provider) a subject of regular audits and mandatory reporting to some local authorities? Or nobody cares what you do and how?
Click to expand...

Curacao is not part of the EEA (it became an independent country in 2010).
So for instance, when gambling companies require a processor, they will contract via an EU entity (child company) in order to comply with EU regulations which appear to affect pretty much all PSPs.
 
#16
Vouggy said:
Hello Everyone,
I am developing a telegram bot that deals with gambling. I want to keep everything legal, but I don’t want to pay $50k for a Gibraltar or Curaçao gaming license. I just want to know if anyone knows of anything cheaper. I did find Costa Rica’s data processing licenses very reasonable ($10k) but would there by any alternatives to this? I know this isn’t offshore banking but I’m just looking for a little help.

Thank you in advance.
-vouggy
Click to expand...

A Curacao license is not going to cost you $50k, if you have been quoted this you are working with the wrong provider. The actual corporate setup is not that expensive and you should spend around €30k in your first year which includes your hardware, licensing costs, corporate setup costs etc. Year two could be a lot cheaper if you keep things tidy.

Having said that, if you have a game that you want to test out then you should work with GamblingTec.com as per this suggestion:

IAmNotTheTaxman said:
Gambling licensing for game developers | Online casino investors you could also check out GamblingTec., seems like a reasonable solution.
Click to expand...

This is the most reasonable way to get going and at the least, it will cost you around €415 per month, An additional bonus with working with GamblingTec is the people behind it have a lot of experience and infrastructure that you can piggy back off.
 
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#18
When you get your license, you will need to "own" a physical server on the island. This you can host at the local DC or you can work with us. What we do is to offer a VPS server + Shared Server + Host your Hardware for a very competitive fee (typically the same price that the DC will give you for the rack space + bandwidth + power).
 
#20
offshorewebhosting said:
Curacao is not part of the EEA (it became an independent country in 2010).
Click to expand...
So e.g. this article from 2011 is not up to date? http://www.gablemarine.com/blog/eea-territories
For example madeira or the canary islands are in the same section as curacao and they are definitely part of EEA.
 
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