We are experts with Curacao gaming company formation
It’s essential when you are setting up your own online casino in the popular jurisdiction of Curacao, to be starting with the most suitable corporate and finance infrastructure so that you get running as soon as you get the license.
Through GBO’s wide network of gaming-friendly banks and payment processors, and our great expertise, we will help you through all the hurdles. We have over twelve years of experience in Curacao and other countries, and have hundreds of satisfied customers.
We can help you obtain your Curacao Gaming License, please contact us
Curaçao online casino formation price
GBO helps you to perform all of the preliminary steps that will get your casino going. These steps are made up of the three essential “must-have” components:
- A company must be set up with the Curacao company register with residence inside the e-zone Curacao
- The Curacao offshore company formation must be properly registered so that it can register a sublicense for e-gaming in the Curacao gaming license register
- A holding company must be established somewhere in the EU banking domain as the legal entity that sets up and controls the necessary financial accounts:
- A bank account that caters for high-risk payment processing companies
- A merchant account/payment service provider (PSP) designed to optimize i-gaming payment processing
- Associated EMI (Electronic Money Institution) accounts that channel the PSP transactions
Curacao company formation costs
|Corporate Services||Register a Curaçao company||$7900|
|Acquire or create an EU-registered corporation for banking accounts||€3650|
|Perform compliance, KYC & UBO audits||included in Corporate services|
|Banking Services||Locate banks & PSPs in the EU||€2500|
|Setup Electronic Money Institutions to allow for receipt of PSP funds||included in Banking services|
|Open Merchant Payment/PSP accounts for processing money transfers to & from gaming customers||included in Banking services|
Why should you get the license from GBO?
What is the unique service we offer?
GBO gets you the sub-license that permits your Curaçao casino to offer the full range of egaming activities – sports gambling, roulette, table games like poker, blackjack and baccarat, as well as bingo and lottery. With our assistance, you will have in place the company structure that you need to register the license and get going. And the payment processing merchant accounts necessary for your customers’ deposits and withdrawals will be ready in reputable European EMI service providers.
Why go elsewhere, when we can do it all for you at such a great cost.
Trusted by clients around the world
GBO is a market-leading Curacao Gaming license services provider
Step 1 – Curacao company setup
The legislation governing online gaming in Curacao stipulates that only local resident companies may operate within the jurisdiction. Furthermore, the Curacao Gaming Control board will not register a sub-license to a foreign entity.
Because it is legally part of The Netherlands, Curacao is included in the OECD safelist, which dictates the type of companies that can be formed. With GBO’s help, a BV holding corporation will be set up that qualifies for registration in the E-Zone, meaning you will be taxed at the very lowest possible rate, which is 2% on profits. Specific requirements to open an offshore company in Curacao are:
- Activities are located out in the E-Zone to qualify for lowest tax rate
- The company must have a registered address there
- The company must register in the Chamber of Commerce
- The company must have a resident director or must appoint a resident local agent who will manage its affairs.
Setting up Curacao company requires the following:
- Company’s name for registration – must be unique, and may not include certain reserved words
- Declaration of the type of business
- Directors’ details – citizenship and country of residence, current address with a notarized copy of passport or other such official identification
- If a local agent is appointed, the same ID documentation is required
- Company beneficiary’s details – ID same as for directors, plus a signed letter of intent
- Some proof of locality, like power and phone bills, bank statements with their names.
Step 2 – Curacao company registration procedure
The following are the standard procedures for registering your Curacao company. GBO is with you every step of the way:
- KYC (Know Your Client) completion
- Due diligence documentation
- Submission to the Notary
- Chamber Of Commerce registration;
- Registration with the Tax Authorities;
As well, any liaison with the process of acquiring and registering your gambling sub-license will be managed by our specialist team.
Step 3 – Curacao offshore company formation
Many banks lack knowledge of the online gaming industry and regulations, so they are already hesitant to open accounts for e-gaming companies. Most e-gaming operators have experienced difficulties finding a reliable service provider of bank accounts and merchant account facilities necessary for credit card transaction processing.
Because Curacao is nominally a part of the EU, its jurisdiction is recognized by all European banks. That creates the opportunity to set up the corporate banking structure inside Europe with an EU-based payment processing agent providing high-risk merchant account payment processing. Although it falls outside the EU taxation regulations, Curacao has been accepted as complying with global standards like CTF and AML.
The essential step is to create a holding company somewhere in the EU banking domain as the legal entity that sets up and controls the necessary financial accounts – bank, EMI and merchant / PSP.
Why should you get the license from GBO?
Setup of specialized banking and merchant accounts
Online gaming companies trying to establish the necessary financial structure with bank accounts and the merchant account facilities necessary to accept online payments have in the past encountered significant obstacles. Regulatory scrutiny and their classification as a ‘high risk’ enterprise limit their ability to accept payments from some jurisdictions.
The GBO solution is to create a structure combining a locally registered Curacao e-gaming company. Then you can register its egambling sub-license, with a merchant account located anywhere in the EU, which recognizes the validity of Curacao e-gambling licenses without also having to impose the ancillary financial restrictions.
GBO has in many such cases assisted in setting up the banking and merchant account facilities inside the EU, with online gaming activities based in Curaçao, as well as credit card processing and the movement of funds between customers and the e-gaming operator.
What is the level of Curacao corporate taxing?
A BV company operating in Curacao’s E-Zone today can pay a corporate tax rate of just 2%, with no restriction on the distribution of dividends. It’s essential, though, to get the structure right from the very beginning, so you should let our experts guide you from start to finish. At present there is no Curacao gambling tax.
What taxes apply to gambling operators?
Of all the major online gaming jurisdictions, Curacao offers the most favorable gaming tax provisions of any in the world. Most international e-gaming operators are double taxed. The GGR (gross gaming revenue) tax is levied on the net profit on the actual gaming (bets minus payouts), and can range as high as 25%. Next, companies are taxed on their own net profits (income minus expenditure) and are lucky if that can be lower than 15%.
Curacao does not levy any tax on gaming profit (or rather, the GGR tax rate is zero.) Companies set up with our guidance with the proper corporate structure only pay 2% tax on net profit, and can redeem 98% in tax-free dividends to shareholders.
Where is the Curacao E-Zone
The E-zone (economic zone) is a government-designated area inside Curacao. Only companies doing export-oriented business are allowed to establish themselves in the economic zone. The customers of these companies must be located outside Curacao, which is also a requirement of the e-gaming sub-license, which forbids access to Curacao residents.
Is Curaçao turnover subject to VAT in the EU?
Yes, but this is dependent on the nature of the turnover. VAT is payable on whether you sell goods or services, B2B or B2C, and on the level of sales in individual countries. It’s best to get professional advice from our experts, because this issue can be avoided with the proper corporate setup.
The authority is maintaining fair practice governance over online providers. Full paper audit trails of every player are kept, with their personal details and movement of funds.