Located in the southern Caribbean Sea lies the beautiful island of Curacao. Although the island has a small population of just around 160,000 inhabitants, it is well known for it’s remarkable cultural diversity. The population consists of various ethnic backgrounds, including Dutch, Latin American and Asian (to name a few). As a former colony of the Netherlands, Curacao has benefited from the Dutch influence, resulting in a stable political and economic environment. It has therefore become a sought-after destination for businesses, including the thriving gaming industry. So how would one go about setting up an iGaming company in Curacao? Keep reading to find out!
History of Online Gaming in Curacao
The Curacao gaming license has been around since the 1990s, making it one of the oldest and most recognized in the world. The National Ordinance on Offshore Games of Hazard went into effect in 1993, as the island established a regulatory framework to attract online gaming companies and provide them with a legal and secure environment to operate in. This ordinance laid the foundation for the development of the Curacao Gaming Control Board (CGCB), which is responsible for overseeing and regulating the online gaming industry on the island.
Current & Future Status of the Curacao Gaming License
Currently, Curacao has four master license operators who are responsible for granting sub-licenses to online gaming operators who wish to establish their operations under the regulatory framework of Curacao. These operators are responsible for vetting and approving sub-license applications, ensuring that the applicants meet the necessary requirements and adhere to the established regulations.
Fast forward to 2023 and the iGaming regulations on the island are going through some changes. The government of Curacao plans to establish the Curacao Gaming Authority which will be responsible for issuing licenses and overseeing all gaming operations. This will mean that the Master License holders will no longer be in the picture. It is not yet clear when this new legislation will take place, but the government has ensured that they will give existing license holders enough time to transition to the new licenses.
How to get a Curacao iGaming License
Regardless of the changes that may be on the horizon for the Curacao iGaming License, it is still a very attractive option for those looking to enter the iGaming industry as well as for those looking to expand their current businesses. The Curacao license when compared to other gaming licenses around the world are cost friendly and straightforward to obtain. Here are the steps to setting up an iGaming company in Curacao:
- Find a reputable Corporate Service Provider: Partnering with a reputable corporate service provider is instrumental in navigating this process as they can offer invaluable guidance, streamline the incorporation process, and ensure compliance with Curacao’s regulatory requirements.
- Incorporate your Curacao business and gather required information: your corporate service provider can help you with determining the appropriate business structure for your operations, as well as prepare the documents needed for the iGaming License application.
- Apply for the license and wait for a reply: once you have all the necessary information, you can submit the application. Waiting times may vary.
- Start operations: once you have your iGaming license, you can start operating your business! Your chosen corporate service provider will help you with the day-to-day operations of your business.
Contact Wyze for more information
Are you interested in establishing a Curacao iGaming company? Our experts at Wyze can help. With our in-depth knowledge of the industry and extensive experience, we guide you through every step of the licensing journey. Trust us to navigate the complexities of the licensing process, allowing you to focus on growing your business. Contact us to find out more today.
