Curacao, the Dutch Caribbean island that everyone in the iGaming world knows very well, is currently undergoing a transformation process when it comes to online casino licensing as the government implements the national gambling regulation.
The new legislation is accompanied by a new licensing processwhich began in early September when the Gaming Control Board officially launched the license application portal.
The new portal processes new applications in accordance with the rules of current legislation and at the same time registers all sub-licensees who want to continue their operations without interruption when the Gambling Regulation comes into force. Also, when the new law A new regulatory authority comes into force: the Curaçao Gaming Authority.
The new law stipulates that only companies registered in Curaçao can obtain licenses. This results in two main obligations for Online casino operator: You have a registered address in Curaçao and employ at least one director in the country.
Until the National Gambling Regulation comes into force, the government will process all new applications in accordance with current legislation, meaning operators are currently not required to have a physical office on the island or have local staff.
In fact, these two aspects are the most important changes affecting online casino operators applying for a license in Curaçao and current license holders who wish to continue their operations.
The portal set up by the government contains all the necessary information on how to apply for a gambling license as well as instructions on the entire process. Operators can submit their application from November 15th.
Application process in detail
The application process is not very complicated, companies only need to fill out three forms: an application form, a company declaration and a personal declaration. All three forms are available for download on the government portal.
The personal declaration must be completed for every beneficial owner who holds at least 10 percent of the shares in the respective company. The form also applies to high-level executives, such as CEOs.
The government has set a two-month processing window, but this only applies to successfully completed applications. Successful applicants will receive a six-month provisional license and will be required to submit audited policies and procedures during this period.
Once the National Gambling Regulation comes into force, the Government will proceed with transferring all existing applications to the new format, regardless of the stage of the application.
Spring: “What will the transition period look like on Curaçao?”. iGaming business. September 15, 2023
