Licenses

Curacao Gambling license

Curacao Island is located in the south of the Caribbean Sea near the coast of Venezuela. On the 10th October 2010, the island became a self-governing state within the Kingdom of the Netherlands.

Curacao gambling license is well known among online casino companies.

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There is no gambling business classification on the island - you simultaneously get a bookmaker license, as well as a license for online casinos, poker, sports betting, lotteries and bingo.

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One of the main advantages of the island Curacao is the most simplified and prompt procedure for licensing the gambling business in comparison with other jurisdictions.

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There are two types of Curacao licenses – master license and sub-license, both of which are granted to gambling operators and provide the same basic rights for different types of gambling businesses. But still, there is a clear difference between them: by purchasing a master license, the operator can offer sublicenses to other companies, while the holder of the sublicense cannot do this.

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Master license: It allows authorizing the activities of third parties through sublicensing, taking into account the responsibilities and conditions prescribed in the master license.

The master license can be obtained on the basis of the decision of the Minister of Justice, the adoption of which is based on the submitted documentation by the Legal Counsel of the Netherlands Antilles. Recently, it has become extremely difficult to obtain a master license in Curacao.

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Sublicense: Provides the same rights to organize and conduct online games in accordance with the procedure established by law, but does not give the possibility of providing a sublicense to third parties.

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Company registration and submission of documents for obtaining a license.

Registration of the local company is the first step in obtaining a license in Curacao. Our company offers comprehensive services related to the preparation of all necessary documents for obtaining a sub-license in Curacao.

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Please get in touch with us and get your free consultation.

Malta Gambling license

Malta offers a great opportunity to obtain a license for gaming industry regulated by The Malta Gaming Authority (MGA).

In order to obtain a license you need to do the following steps:

• To incorporate the company in Malta

• To collect the corporate documents

• To be Fit and Proper

• To prepare a Business Plan, the operational policies and procedures, the games and the gaming and control systems, the technical setup, including system, network and application architecture, the rules, terms, conditions and procedures of the games, and other documents which might be required.

Licensee is subject to minimum issued and paid-up share capital requirements.

• Gaming Service License with aType 1 and 2 approvals are required to retain a minimum share capital of€100,000.

• Gaming Service License with a Type 3 and Type 4 approvals are required to retain a minimum share capital of €40,000.

• Critical gaming supply license holders are required to retain a minimum share capital of €40,000. Companies with multiple types are required to meet the above share capital requirements cumulatively up to a minimum capping of €240,000.

The above three components constitute the desk-based audit of the application requirements. Inconsistent and low quality applications will be dropped and the applicant will be subject to re-application.

Please contact us to get your free consultation.

Cysec Forex license

Cysec- (Cyprus Securities and Exchange Commission) The Cyprus Securities and Exchange Commission controls the activities of investment companies, brokers, dealing centers and other organizations operating in the financial sector.

Today, CySEC is a well-recognized, global financial regulator whose licenses are the guarantor of the honest work of the organization. The high European standards mean that the activities of brokers and investment companies are strictly controlled.

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Benefits of obtaining a brokerage license in CYPRUS:

1. Cyprus is a member of EU. Obtaining a license allows you to conduct financial activities in all territories of the European Economic Area (in accordance with the 2004 EU Directive (MIFID)).

2. One of the lowest income taxes in the EU - 10% (Cypriot operations) and 0% (operations outside the country).

3. The legislation of Cyprus on the regulation of financial activities is harmonized in accordance with EU directives and contains specific criteria for persons wishing to obtain a license. Binary options and forex are legally regulated.

4. There is no income tax for foreign employees.

5. Relatively fast and inexpensive procedures for obtaining a forex broker license.

Cyprus brokerage legislation: Markets in Financial Instruments Directive 2004 (MIFID), Cyprus Investment Services and Activities and Regulated Markets Law of 2007.

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Requirements:

• The company’s office must be located in Cyprus and its main activities must be carried out in Cyprus.

• The company has paid the required fee through the Central Bank of Cyprus. The amount depends on the range of services provided by the company and on the type of activity. The Cyprus Association of International Investment Firms (ACIIF) membership fee must be paid.

• In order to obtain a brokerage license in Cyprus, you need to submit a certificate (among other documents) from the bank confirming the existence of the account.

• The company requires a Compliance officer, risk manager and an internal auditor in the company's staff. Also, the company must have a board of directors, a secretary, an accountant, heads of the brokerage, financial and IT departments and traders. It is allowed to combine some positions; qualification requirements are imposed on persons in the position of a director.

• Company business plan.

• Three year financial plan.

• The organization must have an anti-fraud and anti-money laundering policy and a KYC (Know Your Customer) policy.

• Certificates of no criminal record of each employee.

• Information about the absence of bankruptcy status for each employee of the company.

• The person has opened a bank account without the right to withdraw money for the term of the license. CySEC must be sure that you have an authorized capital. The size of the authorized capital, depending on the type of activity, is:

  • If you are a broker-agent - 125 000 EUR

  • If you are a liquidity provider (market maker) - 725 000 EUR​

Failure to comply with at least one point means that the organization will not receive a license from CySEC. The Cyprus Securities and Exchange Commission is obliged to make its decision within 6 months after receiving the application. Most often, the process takes 4 months.

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Please contact us and get your free consultation.