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Antigua and Barbuda Licensing for Online Gambling

Antigua and Barbuda LicensingFor the most part, areas of the world that are known for offering licensing for Internet gambling operations do so through a special department of the government that is designed to specifically handle those matter. When it comes to Antigua and Barbuda licensing, however, it’s all done through the Ministry of Finance. This is because their International Business Corporations Act of 1982 includes terms for how all types of offshore banking and other activities are handled on the regulatory level. Even though this is the case, they still have a strong licensing program.

About Antigua and Barbuda Licensing for Gambling

The main motivation for companies to form what are called international business corporations, or IBCs for short, in Antigua and Barbuda is that the taxes are typically much lower than other areas. In fact, they have the process for forming such a corporation streamlined to the point that it can often be done within a day or two if the proper personnel like laywers and accountants are used. As far as licensing goes, getting the corporation started doesn’t necessariliy mean that you’ll get a gaming license, but it’s the very easy first step.

Focus on Freedom of Business

If you want to talk about a jurisdiction that will really work hard for the industry, then Antigua and Barbuda are at the top of the list. They will go after anyone who tries to use what they believe are unfair trade practices, and a great example of this is how they went after the United States for breaking the General Agreement on Trade Services over how they were handling online gambling at the time. The World Trade Organization even ruled against the United States and in favor of Antigua and Barbuda in their 2004 ordeal. Because of things like this, a lot of companies want to be regulated and licensed by Antigua and Barbuda.

The Value of Their Licensing Process

Some jurisdictions have an ongoing process of just granting a license and then not really checking up on the companies involved after that. With Antigua and Barbuda, a license has to be renewed on a yearly basis and financials have to be reviewed every six months. This means that at least twice a year, the accounting statements and financial records of the operator or software company applying for the license will be reviewed on a very detailed basis, and this helps to keep out shady businesses that would tarnish the reputation of the license.

Other Protections

The licensing process from Antigua and Barbuda is designed to protect players and the integrity of the business in a number of different ways. For example, they have very strict guidelines that have to be followed to prevent fraud in terms of confirming the identity of players before deposits and withdrawals are accepted. They also make their operations prevent money laundering and the availability of their services to under aged players. Along these lines, they make security a priority whether it’s on the level of the operator or software developer.

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