Let Us Assist You With Your New Curacao Structure

1. According to the recent update from 31.12.2023
2. Curacao Sub-licenses are to be renewed until the beginning of 2024.
3. We will assist with obtaining licenses under the new regime, once the new regulation is announced.
4. New jurisdiction – Anjouan eGaming License. For details: [email protected] or WhatsApp us below.

Companies and private investors looking to establish a presence in Curacao’s booming online gaming industry can experience difficulties when trying to establish the necessary financial structure with bank accounts and the merchant account facilities necessary to accept online payments. As well, it is important to have in place the right corporate structure in order to maximize the tax benefits that Curacao has put in place to encourage foreign investment and to be able to acquire the necessary Curacao gaming license.

That is why you should rely on the services of GBO, who have been helping investors like you gain a foothold in this very attractive market for many years.

We Can Help You Obtain Your Curacao Gaming License.

WhatsApp us: +972504938469, email us: [email protected]

Why do conventional banks avoid online gaming operators?

Many banks lack knowledge of the online gaming industry and regulations, so they are hesitant to open accounts for e-gaming companies. Financial institutions often impose strict requirements on e-gaming companies before allowing them to open high-risk merchant accounts in Europe.

As e-gaming companies are considered high risk, they are often rejected by banks and instead have to work with a high-risk payment processor familiar with the i-gaming industry and already provides gaming merchant services. One of the main reasons banks and payment service providers reject e-gaming companies as new gaming merchant account customers is the issue of chargebacks. Banks also consider e-gaming companies high risk because of the danger of disputes over bonus claims and the risk of gambling addictions. Regulatory scrutiny and their classification as a ‘high risk’ enterprise limit their ability to process payments in some jurisdictions. 

The proper solution

Our solution is to create a structure combining a local Curacao e-gaming company, which holds the gaming license, with a merchant account located somewhere in the EU. Because Curacao is legally part of the EU, falling under the jurisdiction of The Netherlands, it enjoys some special privileges, such as having the validity of Curacao e-gambling licenses being accepted automatically, without having also to impose the financial restrictions that go with EU full membership. 

In a few of the cases we have dealt with, we set up the banking and merchant account facilities in the UK or Cyprus, with online gaming activities based in Curacao, as well as credit card processing and the movement of funds between customers and the e-gaming operator.

The 5 steps in setting up the infrastructure for an e-gaming business in Curacao

For any e-gaming company there are five essential “must-have” components:

1. Curacao company formation –  that is the holder of a sublicense for e-gaming
2. A bank account for gambling company that caters for high-risk payment processing companies
3. A merchant account/payment service provider (PSP) designed to optimize i-gaming payment processing
4. Associated EMI (Electronic Money Institution) accounts that channel the PSP transactions
5. A holding company somewhere in the EU banking domain as the legal entity that sets up and controls the necessary financial accounts – bank (which is not mandatory), EMI and merchant / PSP.
6. Curacao casino bank account – your newly Curacao company will need to open a bank account for managing their operational funds and also for plyers funds account. we can assist with that

FAQ

How to open bank account for Curacao casino?

the process of open a Curacao casino bank account is not easy. yes, its can be quite complicated as fewer and fewer banks and EMIs don’t approve to Curacao company to open an account as it is above their risk appetize. In order to open the account, the company should be in order and manage properly with AML procedures, beneficial owners documentation and other important policies. We can assist with opening bank account to Curacao company.

What makes Curacao special?

Curacao presents some specific advantages to investors looking for opportunities in online gaming, along with general corporate advantages like low tax rates on corporate and gaming profits (see below). Because Curacao is nominally a part of the EU, its license 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, it has been accepted as conforming to the Code of Conduct for business taxation as well as compliance with other global standards like CTF and AML.

Why are payment service providers so important? 

Gaming businesses need to have the proper payment solutions for their customers. Online gaming companies must have a gaming merchant account in order to accept card payments.

Not all payment processing services accept clients from the e-gambling industry. Gaming is considered high risk because of the heavy traffic, high transaction volume, vulnerability to fraudulent activity and chargebacks. Gaming websites have to use a service to process incoming bets and payouts to their players. Gaming payment processing services must provide real-time identification of fraudulent transactions and fast card payments from players worldwide in multiple currencies.

An effective payment processing agent as part of the structure of processing payments for the website offering the online gaming services is definitely required. 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.

What is an online casino casino payment agent company?An online casino payment agent is a company that in most common cases incorporated in Cyprus that accepts payments from the merchant account and card processing company. It is a part of the gaming corporate company structure.