Why are Many Online Casinos Registered in Curacao?

If you have taken a look at a range of online casinos, the chances are that at least one you have seen will be registered and licensed in Curacao. This is a popular place with online casinos, but why is that?

Curacao is one of the oldest licensing locations as well as being one of the most popular. There are over 450 licensed online casinos there and one such online casino and sportsbook is 10cric, owned by Chancier B.V. and registered at an address in Curacao.

Since 1996, casinos have been taking their license out in Curacao, and we are expecting to see this happen for many more years.

The Positives of Holding a Curacao Gambling License

There are many positives to holding this license and these come from the ease of owning one. It is known to be one of the most cost effective, which helps attract a lot of newer casinos, and those that hit the ground running can take advantage of the low fees when it comes to renewal.

Setup costs are one of the biggest strains when reading the latest business news, so it is no surprise for new casinos to go with the cheaper option.

The costs to claim a Curacao gaming license is around 23,500 Euros. This includes the license, the creation of structures and setting up banking and payments. When the license has expired it must be renewed for the company to remain legal, and there is also a cost associated with this. These vary depending on the renewal but are known to be lower than elsewhere.

Anyone wanting to apply can do so in a short period of time, the process takes just a few weeks from start to end. Lastly, something else to mention is that all compliant operators are allowed to accept cryptocurrencies from their players as payment. Some of the newer casinos are crypto only, so this part of the service is definitely important for them.

Like in some other jurisdictions, there are no gaming taxes here for companies to pay, another obvious pull for those looking to set up. The fact that Curacao offers 0% VAT and 0% tax on corporate profits is a big pull for any company, but especially one that is in the competitive gambling industry wherever penny counts.

Why do You Need a License?

If you want to operate a casino, you need a license, this is the law. When you get a license, you are able to offer the casino services you have internationally, so a Curacao license can be used elsewhere, not just in that particular area.

Aside from making sure everything is above board and escaping the prospect of being closed down and going to prison, the other reason for needing a license is trust.

Casino operators know the competition out there is fierce. To get to the top of the tree, they need to attract people by the power of their brand, this only begins to arrive when the company has proven they can be trusted.

The first step of that journey begins with getting a license and following the law.

This article does not necessarily reflect the opinions of the editors or management of EconoTimes