Note from Writer and licensing expert.
Without any further due:
A Curaçao license cannot accept players from the USA, the UK, France, Germany, Australia, the Netherlands, FATF blacklisted countries and Curaçao itself.
But it’s not as straightforward as it looks like. Curacao is changing and such changes are important to consider before applying for a license. Check the article to find out about Curacao from the iGaming expert.
Startups and established projects choose Curacao casino license due to its global acceptance, low tax rates, and operator-friendly policies. These advantages have made it a magnet for businesses seeking a reputative license.
However, the landscape has changed. Recent updates to Curaçao regulations, including the introduction of the LOK (National Ordinance for Games of Chance), has started a new era of stricter legal rules. So operators must now be more mindful of the jurisdictions where they can legally operate.
What Is a Curaçao License?
It’s a type of online gambling license issued by the government of Curacao, a part of the Kingdom of the Netherlands in the Caribbean Sea. Thousands of active casino and gambling licenses put the island in the first place of industry. Since 1996, it has allowed holders to organize gambling, table games, sports betting, and lotteries.
The Curacao gaming license is based on a unique master and sublicenses system. Before the recent updates, master licenses were issued directly by the Curaçao government to 4 entities (CEG, Antillephone, CIL and Gaming Curacao). Valid for 5 years and issued by the Ministry of Justice of Curaçao, the master license grants the holder the authority to oversee different gambling activities and issue sublicences to operators. A sublicense has no independent legal standing and remains valid as long as the master license did by meeting the annual renewal requirements.
New Licensing Rules in Curaçao regulations
A new framework replaces the previous system of licensing in Curacao with a direct licensing regime from the government body. And now Master licenses are no longer allowed.
Operators can now only get licenses directly from the Curaçao government, overseen by the Curaçao Gaming Control Board (GCB). But it started in November 2023 and the last license from Masters was issued by March 2024.
The primary supervisor provides gaming control and is empowered to grant, amend, suspend, and revoke licenses, covering all forms of gaming.
New rules make the approval process more complicated and striker, but still stays appealing for businesses seeking reputable jurisdiction. Plus, the gambling licensing offers 0% tax obligations, which is one of the most cost-effective options on the market.
The mentioned LOK changes the costs.
Let’s look into the full price of license with company and agent's fees included during three main periods:
- At the time of Master license holder it was possible to obtain the license within the range from 20,000 EUR to 40,000 EUR.
- When GCB got in charge, in November 2023, it significantly increased up to 80,000 - 90,000 EUR (“Before LOK”)
- And now, after accepting LOK, the fees are staying almost at the same range from 75,000 to 90,000 EUR.
Table 1. Curacao license fees and cost (agent’s fees excluded)
Apart from this, all operators are categorized into B2B license holders and B2C license holders. The first category includes game developers, White Label providers and software providers, for example, Evolution Gaming, or NetEnt that develop casino games. The second one is about online casinos, sportsbooks, poker rooms, or other gambling types with end users as a target audience.
In the past, it was common for dishonest operators to use their B2C status to issue unofficial sublicenses. Instead of officially notifying the Master License holder, preparing proper documentation, and undergoing the necessary compliance checks, these operators would simply add a client’s domain under their license and claim it as their own domain.
While the lower costs of this approach may seem appealing to inexperienced businesses, it comes with significant risks, including an unstable market position and potential legal consequences. Furthermore, regulatory requirements have become stricter, making such shortcuts even more unsustainable. It’s far wiser to follow the proper licensing process to ensure a solid foundation and long-term success in the industry.
The GCB will grant licenses to those operators that comply with AML (Anti-Money Laundering) and KYC (Know Your Customer) laws. A qualified Compliance Officer plays a central role in this process, overseeing the implementation of CDD (Customer Due Diligence), AML and KYC procedures. The Compliance Officer will monitor suspicious transactions, train staff, keep detailed transaction records, and provide all the data for audits.
In addition, AML/KYC regulations require reporting of users whose deposits or withdrawals exceed €2,500, as these transactions are considered higher-risk financial activities; similar to how it works in the UK.
The Process of Obtaining a Curaçao License
The licensing process has changed due to the recently adopted LOK law, which makes it possible to obtain the license only from the GCB. To get a license, operators must meet the following requirements:
- Company Registration in Curacao
Companies must be registered on the island and must appoint a trustworthy local managing director. The whole process of incorporation takes around a month.
- AML/KYC Compliance
Operators holding both B2B license Curacao and B2C license Curacao must comply with the NOIS and the NORUT, appoint a qualified compliance officer with AML experience, and complement the CDD (customer due diligence). Compliance Officer must submit CV and professional certifications such as CAMS or AMLFC to be compliant with requirements of the GCB. To find a suitable compliance officer may take a while so it’s recommended to start looking for them in advance.
- Domain ownership approval
All domains that operators intend to use have to be disclosed with proof of ownership.
- Application submission
Applicants must complete three forms on the GCB portal and submit the necessary supporting documents.
The core documentation includes:
- Corporate Disclosure Form: Details about the group structure, ownership percentages, and country of registration for each entity involved.
- Personal History Disclosure Form: Includes identification documents, residential addresses, and employment history for all directors and key individuals.
- Proof of Funding: Documentation outlining the initial capital source, including loans, shareholder contributions, and salaries.
- Game Certifications: If the operator develops its own games, certifications from approved testing laboratories (e.g., iTech Labs, GLI, BMM) are required. Alternatively, applicants can provide an agreement with gaming providers or aggregators.
- Business Plan: A comprehensive overview of the business structure, management forecasts, market strategies, and risk assessment.
It would take up to 2-3 months to obtain the Orange seal, considering that all documents are ready. While obtaining the Green seal can take up to a year. The LOK makes obtaining a license timeline unpredictable.
The transition from Master License holders to the GCB system, which kicked off in April 2024, has been moving slower than expected. While the GCB is prioritizing transition applications, they've only managed to process 200 out of 741 applications in the past six months (as of December 2024). With this current pace, it’s clear that further delays are likely, so operators should be prepared for a longer-than-anticipated waiting period.
Bank Account Opening with Curacao License
Opening a bank account is the final stage and is only possible after obtaining a license. Banks will not accept the documents beforehand, as the license is a mandatory requirement. The process takes from 3 to 8 weeks, and sometimes even longer, particularly because an operator is classified as high-risk.
So, make sure to consider extra 3-8 weeks for opening a bank account once license is issued.
Benefits of Licensing in Curaçao
Strict requirements do not change the fact that this is the most sought-after license in the gambling industry. Licensing in this jurisdiction still offers great advantages for operators. Let’s explore what makes this online gambling license a popular choice for businesses:
Low Tax Rates: Corporate income tax is 0%, and there is no VAT on online gaming transactions. However, applicants should keep in mind that Curaçao applies additional costs, including annual and monthly fees, domain fees, and one-time due diligence fees.
Global Recognition: Curaçao gaming license has long been globally respected, which is enhanced after the LOK law acceptance. The jurisdiction almost stands as the alternative of the Malta license, providing undeniable credibility to operators. Such a reputation can attract high-income players and simplify building partnerships within the gambling industry.
Ease of Company Management: Having a locally registered entity in Curaçao allows for faster and more efficient communication with authorities, ensuring smoother operations and quicker resolution of any regulatory matters.
Risks and Limitations of a Curaçao License
A Curaçao licence has a strong reputation in the gambling industry, despite having 2 limitations.
- Restricted Countries
The Curaçao license cannot accept players from the USA, the UK, France, Germany, Australia, the Netherlands, FATF blacklisted countries and Curaçao itself. FATF blacklisted countries include Iran, North Korea and Myanmar. Plus there are Grey countries which are not recommended to target, but allowed to do so. Such a list is changing from time to time, and available upon request.
- Compliance changes
The situation with 4 Master license holders created difficulty with trust from players because not all 4 Masters managed to control licensed operators properly. It led to inconsistent AML/CFT measures, weak player protections, and inadequate dispute resolution mechanisms. The transition to the new GCB authority increased operational costs for operators, enforced stricter compliance standards, and introduced measures like the Green Digital Seal and Orange Digital Seal.
Thus, complying with the newly introduced regulations can be a challenging task for new casinos.
Risks
As for risks of Curacao license, it is important to highlight the one with Validators. Curaçao license holders utilize the Digital Seal responsibly. They hold one of the following seal types:
- Green seal (Issued to fully licensed operators);
- Orange seal (temporarily available to sub-licensees awaiting full licensing decisions).
Why Choose a Curaçao License?
The Curaçao license offers some strategic benefits for online gaming businesses. At first, the jurisdiction has a long-standing reputation and is recognised by banks, payment processors, and gaming software providers. A crystal clear direct application system makes it even better, minimizing loopholes to bypass the law. Moreover, compliance with international standards adds credibility to its holders.
The jurisdiction has made the obtaining license process non-bureaucratic, allowing operators to submit applications and track progress online. It makes this casino license easier to obtain compared to other jurisdictions. For example, a Malta license typically takes up to a year, but in some cases, it may take 18 months or 2 years or even 3 years. The exact terms depend on the complexity of the project.
Finally, the Curaçao license has high credibility among players, and big fishes are happily spending tons of money into casinos with this license.
Need help understanding if the Curaçao gaming license is your best option?
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