The New Gambling License in Curacao Opens New Opportunities for Gaming Companies – How You Can Take Advantage of Them
Curacao’s gambling industry has recently undergone major changes that are set to open new opportunities for all kinds of gaming companies. Regulatory changes have come into effect as of September 1st, 2023, and there are some important things you need to know about Curacao gaming licenses.
The establishment of the Curacao Gaming Authority (CGA) has changed the way that Curacao casino licenses are issued, how operators are monitored, and the system for taking action against organizations that commit violations. The modernization of Curacao’s licensing infrastructure will open the door to many new organizations that had previously been excluded.
Now, instead of having to go through the traditional master license holder, Curacao Interactive Licensing N.V., organizations can obtain their own licenses directly through the CGA. This removes the control over sub-licensing, creating a fairer landscape and also reducing Curacao gaming license costs.
While these changes have created a more equitable landscape for prospective gaming companies, there are still challenges to attaining your Curacao eGaming license. You need the right support and guidance to navigate the process and ensure that you maintain full compliance within this new regulatory landscape.
Physical Presence Requirements for International Operations
Curacao defines the international eGaming landscape. Its accommodating laws mean that organizations from around the world have relied on traditional gaming sub-licenses to operate their online gambling operations. New licensing requirements mean that these organizations may now have additional duties to fulfill to ensure the legality of their operations.
One of the biggest changes is the introduction of requirements for a physical presence in Curacao. While many operations were completely remote, there is now the need to establish both a physical business space and a representative physically present on the island.
At first, this might seem like an impossible burden to overcome. However, with the right guidance, you can establish a corporation to meet those requirements at surprisingly little cost. You can ensure that your organization meets those requirements for at least one full-time employee and a physical business space on the island. However, doing so efficiently takes a thorough understanding of the law.
eGaming Licensing Standards
Alongside the new physical presence requirements, the CGA also introduces a variety of additional standards that organizations must meet. Your operations must implement effective measures to address these areas if your application is to be successful and your license is to be maintained.
In most cases, these standards are moved closer to their counterparts throughout the European Union and other jurisdictions. Organizations face increased player protection requirements. Responsible gaming measures are another area where many organizations must now make changes.
Among the most important changes are the introduction of new anti-money laundering (AML) and know-your-customer (KYC) requirements. This increases the burden on organizations to ensure that their eGaming infrastructure isn’t being used for criminal purposes or being accessed by individuals who aren’t authorized to engage in gambling activities.
The new licensing requirements spell out specific standards, but these can be difficult to navigate. Consulting with a lawyer to ensure that your business meets these requirements is the best course of action to ensure that your application is successful.
Which Countries Are Allowed With Curacao Gaming License?
While these new requirements may seem daunting, a Curacao gaming license is still an incredible asset to open your eGaming doors to countries around the world. Investing in the right support and guidance to navigate the initial licensing process is well worth the new opportunities your business can unlock.
Curacao gambling license countries essentially encompass every country except those that are specially forbidden. That means that there are no limitations on the majority of nations to access your eGaming services. Curacao license permitted countries with zero restrictions include much of Europe, Canada, the Caribbean, and more.
Curacao Gaming License Restricted Countries
Countries with restrictions for Curacao gaming licenses are few and far between. Your license opens the door to providing services to almost every country in the world. However, there are a few notable examples of restricted countries.
The United States is well-known for having some of the strictest international gambling laws in the world. Your Curacao gaming license won’t allow you to provide eGaming services there. It’s not just about violating US law, either. Curacao has specific treaties in place with the US that require their licenses to exclude US customers.
Similar agreements exist between Curacao and Australia, France, and the Netherlands. Your license also prevents you from providing eGaming services to citizens of Curacao, limiting your efforts to international markets.
Some countries have rules within their own jurisdictions that prohibit access to eGaming services. While these don’t impact your license, you may require legal guidance if you have any presence in those countries.
Covering All Your Bases for Your Curacao Gambling License
If you’re interested in acquiring a Curacao gambling license or need help navigating the new requirements for an existing license, you need practical legal support to cover all your bases. Let’s talk today about finding a solution for your unique international eGaming legal requirements.