A Comprehensive Look at the Curacao Online Gambling License
The Netherlands Antilles are a group of islands off of the coast of Venezuela. Curacao was the largest of these islands until late 2010 when they became their own country. While this might seem like a somewhat random lesson in history and geography, it’s an extremely important set of information to know when looking at the Curacao online gambling licensing process and its rich history. This history helps to make Curacao one of the premier places for online casino software companies and gambling site operators to become licensed for operation.
Curacao Online Gambling License History
Since Curacao is now its own country, they are able to set their own rules and laws on how the online gambling industry and licensing processes are regulated. In the past, they were subject to all kinds of legislation passed by the Netherlands Antilles as a whole even though they were the only island to offer online gambling licenses. This is a pretty big deal because they have been offering licenses for Internet gambling businesses since back in 1993, and that makes them one of the oldest jurisdictions in the world for doing so. With such a long history in this particular part of the industry, they have developed the experience and reputation for handling things well.
The Types of Internet Gambling Licenses Available
Back in 2002, Curacao made a very important decision. They saw that they were becoming an extremely important place in the online gambling world, so they split off a special board for the regulation of online gambling from the Curacao Gaming Control Board. This put some much-needed space between the Internet and land-based operations in the country. This Internet-focused board has a reputation for keeping things relatively simple, so they have two basic types of licenses that they offer.
The first is a master license. This is a license for a company that will be running operations of some sort whether it’s as an operator or a software company. They also have a sub-license that they can grant, and this allows companies that hold a master license to run multiple businesses under one banner. A great example of this could be a group that runs several different online casinos that all have oversight from the same company. The company itself would need a master license while each of its individual operations would have sub-licenses.
Advantages of Licensing in the Region
Curacao is known for being one of the most important licensing jurisdictions in the world. Their long history is one reason for this, but there are other advantages. They have very favorable tax rates when compared to other places, and they also have a reputation for handling disputes with their licensees fairly.
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