Curacao

Curacao Gaming Jurisdiction

Curacao, an island in the southern part of the Caribbean, off the coast of Venezuela, is part of the group of islands known as the Netherlands Antilles – a self-governing part of the Dutch Kingdom. Curacao has a stable economy and is considered a highly attractive option for online gambling operators. In fact, it was one of the first jurisdictions in the world to regulate online gambling, which has been a central industry in the country since the decentralization of online gaming from the Curacao Gaming Control Board in 2002.

The longest standing internet gaming license was granted to Cyberluck Casino under old laws in 1999, and this casino has been the Master License Authority designated by the Department of Justice since then.

The are many reasons why operators are drawn to Curacao, among them a favorable tax regime, excellent technology across the board, part of the Dutch Kingdom, very little red tape and the fact that the island is situated outside the notorious hurricane belt. Curacao also has multiple fiber optic cables to facilitate the easy transfer of information, and has enough bandwidth offered at good rates. Combine all this with an outsourced network operation center that works around the clock, call center facilities and professional infrastructure in place such as banks, legal and audit firms, and it is easy to understand the attraction of Curacao.

Operators who wish to obtain a license from Curacao need to meet the strict requirements of the island state. Firstly, they need to register with the Netherlands Antilles Chamber of Commerce as a local, legal entity, stating the island territories from where they wish to operate. The Curacao Department of Justice then conducts an investigation into the company – a procedure that takes approximately 6 weeks.

A provisional license is granted to companies who manage to pass the Justice Department’s investigation, subject to certain conditions, including a guaranteed deposit of around $35,000. Sublicenses are also available in order to run internet gaming operations from the Netherlands Antilles. Partner companies can share existing gambling licenses, again, subject to conditions. Licensees pay a monthly fee for two years, and a new license fee will be determined after this time period. A certain percentage of the company’s net gains is usually taken as a subsequent monthly fee.

In May 2007, Curacao announced that it would be updating its e-gaming legislation and regulations in order to compete among the world’s leading jurisdictions. Part of this move was to ensure that the island state would eventually be accepted onto the United Kingdom’s prestigious ‘white list’ – a list of offshore jurisdictions that may operate within the UK market under the country’s new gambling laws. To date, despite an application to be accepted onto the list, the UK has not granted Curacao white list status, but the country is working hard to move towards this goal.