In our endless pursuit of information, we recently got our hands on the regulations for operating an online gambling website in Curacao. The law is written in Dutch, but it's complemented with an informative summarization in English.
In order to establish an online gaming site within Netherlands Antilles, potential operators need to licensed by the governor, pursuant to the National Ordinance Offshore Games of Hazard (Official Gazette 1993, no. 63). General information about licensing requirements are listed below.
The regulations provide for:
- screening of applicants and all parties involved;
- a certificate of registration with the Chamber of Commerce as a locally formed legal entity;
- a detailed business plan;
- a five-year financial feasibility study;
- two legal opinions by recognized legal authorities that state the business plan is not in contravention of the National Ordinance Penalizing Money-laundering;
- and a statement from a U.S. lawyer explaining that the activities do not contravene U.S. laws regarding games of hazard;
Applicants may apply for licenses from more than one island in the Antilles, but each island must be named in the application. A monthly licensing fee of NAƒ10,000 for the first two years of the license is required. Each island territory may ask for up to 2 percent of net gains of licensee in that island territory. Licensees will also need to submit financial information yearly to the Minister of Justice.
License applicants are required to obtain temporary residence for six months initially, which will be converted as needed.
Finally, the profit tax for offshore and tax holiday enterprises ranges between 2 and 3 percent annually.
View "General Information Concerning Online Gaming/Gambling"