The driving impetus behind this reform is unequivocal: to enhance the transparency of licensees' operations and to foster an environment of robust competition and conscientious gaming practices. Nonetheless, for those currently in possession of licenses, a plethora of questions loom large. At the forefront stands the query regarding the reform's implications for the existing license holders.
Global standards and Curacao online casino licensing
The intricacies of procuring an online casino license in nations like the United States, the United Kingdom, or Malta are significantly influenced by the meticulousness of their legislative frameworks. Securing such a license within these countries necessitates fulfilling an array of stipulations, constituting a formidable challenge. Wagering platforms are compelled to rigorously meet an exacting set of standards, and the entirety of this process can consume a considerable amount of time.
Conversely, when we turn our attention to the Curacao perspective, it becomes apparent that in juxtaposition to these stringent licensing methodologies, companies encounter a wide spectrum of avenues for launching online casinos in Curacao. While Curacao isn't the singular jurisdiction offering a more lenient licensing procedure, its distinction in terms of popularity among operators is undeniable. Within this context, any alterations to their legislative framework assume a unique level of significance.
Let us now delve deeper into the particulars of these prerequisites.
Two levels of Gambling Licensing in Curacao
The primary license allows gembling operators to conduct international activities and host servers outside the island. The Curacao Gaming Control Board issues licenses online and offline in a short time.
Sublicenses are granted by holders of primary licenses to third parties that open access to a variety of gambling games.
Updated Curacao licensing system
In response to risks posed by simplified verification procedures and minimal requirements, Curacao regulators are launching an updated licensing system. This new system will adhere to elevated criteria in the realm of gambling.
Revised Licensing Regulations in Curacao for 2023:
- Starting from September 1, 2023, the transfer or lease of licenses between companies will be prohibited.
- The issuance of both types of licenses will be carried out only by the Curacao Gaming Control Board.
- Audit of all licensees is designed to ensure security.
- Introduction of stringent responsible gambling rules.
Changes in the Curacao gambling industry
Key new rules for personnel selection in Curacao 2023:
- Hiring only locally qualified personnel
- Official employment of all company employees on Curacao's territory
- Competitive salaries for the firm's workforce
Current license holders obtained under previous conditions will be able to express their intention to transition to the new license, having 18 months for adaptation.
Anjouan Gambling company accreditation
One of the viable options in 2023 is obtaining a license in Anjouan. To transition to this jurisdiction, the following conditions must be met:
- Global legislation: Licensees must monitor international norms and laws to avoid offering their services in regions where it is prohibited.
- Thoughtful planning: To acquire a gambling license in Anjouan, a well-developed business plan outlining provided services, marketing activities, and company prospects must be provided.
- Financial data submission: Mandatory submission of periodic financial reports and adherence to financial reporting standards.
- Active anti-money laundering efforts: Licensees must actively work towards minimizing risks related to money laundering and funding criminal organizations, including appointing a specialist in this field.
- Appointed Compliance Controller: Licensees are obligated to designate an individual responsible for ensuring compliance with all norms and requirements, who will also report to the regulator on standards within the gambling industry.
Supervision of gambling enterprises in Anjouan
- Player safeguarding: The regulatory authority places paramount importance on safeguarding player welfare. Gambling entities operating in Anjouan are bound by the duty to uphold equitable gambling procedures, establish clear and transparent regulations, and adeptly handle grievances and disputes.
- Transparency: Operators are mandated to uphold a strong commitment to openness within their operations. This includes publishing information about the license, game rules, payout odds, etc. They are also obliged to act responsibly, preventing excessive gambling behavior.
- Player identity verification: To ensure security and legal compliance, companies must rigorously verify the identity of their customers, ensuring they are of legal age and not participating from restricted jurisdictions.
- Regular reporting: Gambling companies are required to provide regular reports to the regulator. This allows for the assessment of the company's compliance with regulations and the detection of any potential violations.
- Training and support: The regulator provides resources and training for gambling companies to effectively adhere to regulatory norms and requirements.
Anjouan as an optimal alternative to Curacao
In the context of the innovations in the gambling regulatory policy in Curacao, Anjouan emerges as an excellent cost-effective alternative for individuals involved in the gambling industry. Clear regulatory framework, modern technical infrastructure, and favorable tax system make Anjouan a promising location for gambling businesses seeking to operate in a reliable and advantageous jurisdiction.
Key Advantages of Registering a Gambling License in Anjouan:
- License type: Comprehensive license covering all aspects of gambling, from casinos to brand creation (White-Labeling).
- Licensing process: Quick and efficient process based on the quality of provided documents. Online application available.
- Scope of license: Possibility to license both B2C and B2B companies.
- URL addition: Unlimited web addresses can be included in the license.
- Audit: No annual audit required, reducing operational complexity and costs.
- License cost: Favorable pricing policy ideal for startups with low initial funding.
- Tax benefit: No taxation on Gross Gaming Revenue (GGR).
Licensing and regulatory conditions for gambling activities in Curacao, scheduled for September 1, 2023, forced to look for alternative solutions for the gambling operators. In this context, Anjouan stands out as an exceptional option, offering an alternative in the form of cost-effectiveness, license versatility, exemption from annual audits, and favorable tax conditions. Taking all of the above into consideration, Anjouan is affirmed as the optimal solution for those seeking advantageous conditions for conducting gambling business following the upcoming changes in Curacao.
Comparison of jurisdictions: Anjouan and Curacao
Local Employee Requirement
Minimum of 3 local employees
Every 6 months for new companies under 2 years old
Initial fee of $5,000 USD
Annual fee of $15,000 USD
License Renewal Fee
One-time payment upon registration
Physical Presence Requirement
Bank Account Opening
Option to open a corporate account at a local bank for non-residents
This option is not available