The New Curacao Gaming License Cost, Benefits & Process 2025

The New Curacao Gaming License Requirements – a GBO Analysis

Curacao is reorganizing its gambling industry and is ready to issue new licenses to operators in November 2024. Our analysis suggests that this projected change, referred to as “essential” by Finance Minister Javier Silvania, is similar to the Malta gaming licensing system.

What aspects of Curacao’s gaming licensing laws are changing?
Information is still developing. We have, however, stated several requirements following our review of the new criteria and procedure. These will likely be improved once the licensing arrangement is clarified. The new regulations emphasize compliance and AML. AML rules, company setting, banking, and merchant services are all part of our full license package.

Key Conditions

1. Licensees are required to constantly uphold information security standards. They must deliver audited security policies to the GCB within six months of receiving a license, according to the GCB’s specifications, employing an auditor that the GCB has approved. Additionally, they need to have their hardware and software security checked by a third party with GCB approval.
2. Licensees must maintain player account policies and submit audited versions of those policies to the GCB upon request and within six months of licensing.
3. It is crucial to have consistent payment transaction protocols. Upon request from the GCB and within six months, audited policies must be provided with the GCB.
4. Licensees must maintain responsible gaming practices and present audited plans to the GCB whenever requested and within six months.
5. For fairness, every game operated by the licensee requires independent lab approval.
6. Within six months of receiving their licenses, licensees are required to submit certification proof to the GCB upon request and in accordance with GCB policies.

Our services comply with these requirements, guaranteeing that you fulfill all requirements for licensure.

The New Curaçao Gaming License: Updated Application Process and Regulations

In the evolving online gaming landscape, obtaining a legitimate license is crucial for businesses seeking credibility and compliance. Curaçao’s regulatory framework has undergone significant updates with the introduction of the National Ordinance on Games of Chance (LOK), which came into effect on December 24, 2024. This new legislation replaces the previous National Ordinance on Offshore Games of Hazard (NOOGH) and establishes modernized processes and requirements for licensing.

Key Changes Under the LOK

1. Transition Period:
   • Applications submitted before December 24, 2024, will be processed under the NOOGH regulations.
   • Applications submitted on or after December 24, 2024, must comply with the updated LOK provisions, which include:
     • Payment of an application fee.
     • Completion of revised application forms.
2. Provisional Licenses:
   • Existing NOOGH licenses will be automatically converted into provisional licenses under the LOK.
   • Specific conditions for these provisional licenses will be announced soon by the Gaming Control Board (GCB).
3. Temporary Suspension of New Applications:
   • From December 24, 2024, at 12:01 AM Curaçao time, the GCB will temporarily halt the acceptance of new applications.
   • A date for reopening the application process under LOK will be announced.
4. New Application Requirements:
   • Revised application forms and additional requirements will ensure enhanced compliance with global standards.
   • Further details on the updated requirements will be published by the GCB.

Core Objectives of the Licensing Process

The Curaçao gaming license aligns with internationally recognized standards, focusing on:

• Prevention of Unlawful Activities: Mitigating risks such as fraud, money laundering, and terrorism financing.
• Player Protection: Safeguarding players, including minors, and ensuring responsible gaming practices.
• Fairness and Reliability: Ensuring the integrity and transparency of gaming operations.
• Compliance with International Standards: Meeting updated KYC, AML, and CFT requirements.

Business Plan for Curaçao Gaming License Applications

A well-structured business plan is a critical component of the licensing process under LOK. This includes:

1. Executive Summary: Outlining business goals and vision.
2. Business Description: Legal and operational details.
3. Market Analysis: Insights on customer segments and competitors.
4. Marketing Strategy: Plans for player acquisition and retention.
5. Operational Plan: Detailing workflows and technological infrastructure.
6. Management and Personnel: Team structure and responsibilities.
7. Regulatory Compliance: Strategies to adhere to Curaçao’s gaming laws.
8. Financial Projections: Revenue and profitability forecasts.
9. Risk Management: Identifying and mitigating business risks.
10. Technology Plan: Infrastructure and cybersecurity measures.
11. Product Portfolio: Description of gaming services.
12. Player Protection Measures: Policies for responsible gaming.
13. Exit Strategy: Planning for future transitions.

Decision Timeline and License Duration

• Application Decision: The GCB commits to processing complete applications within a specified timeline under LOK.
• License Validity: Licenses granted under LOK will be subject to updated durations and conditions, which will be clarified as part of the new regulations.

Summery ok LOK

The introduction of the LOK represents a transformative step for Curaçao’s gaming sector. By modernizing its regulatory framework, Curaçao ensures that gaming operators meet global standards while fostering a safe, transparent, and trustworthy environment for online gaming. Businesses seeking a Curaçao gaming license must adapt to these changes to maintain compliance and credibility in the competitive online gaming industry.

Curaçao Gaming License Requirments and Conditions

1. Eligibility Criteria:
   • Companies must be registered in Curaçao.
   • A local director is required for legal compliance.
   • Transparent disclosure of ultimate beneficial owners (UBOs) is mandatory.
2. License Scope:
   • Covers a broad range of online gaming services, including sports betting, casinos, and lotteries.
   • Allows up to 40 domains under the standard license.
3. Compliance Requirements:
   • Operators must implement anti-money laundering (AML) and counter-terrorism financing (CTF) measures.
   • Comprehensive policies, such as responsible gaming, data security, and financial transaction transparency, are mandatory.
   • Regular reporting to the GCB is required.
4. Termination and Revocation:
   • The GCB reserves the right to suspend or revoke licenses for non-compliance.
   • Licenses are subject to renewal based on adherence to regulatory requirements.

Curaçao Gaming License Requirements

1. Company Registration:
   • A company must be established under Curaçao law with a registered office in Curaçao.
2. Director and Shareholder Details:
   • Transparent identification of ultimate beneficial owners (UBOs).
   • A local director is mandatory for compliance.
3. Compliance Policies:
   • Required policies include Anti-Money Laundering (AML), Responsible Gaming, and Information Security.
4. Operational Guidelines:
   • Safe storage of player data and secure transaction processing.
   • Regular maintenance of gaming equipment and software.

Restricted Countries for Curaçao Gaming License

The license prohibits offering gaming services to:

1. Residents of Curaçao.
2. Individuals under 18 years of age.
3. Players in countries where online gaming is restricted:The Curaçao gaming license has minimal country-specific restrictions. License holders are prohibited from accepting players from a few countries, including the USA, France, Australia, the Netherlands, and Curaçao itself. Beyond this, compliance primarily involves adhering to standard KYC, AML, and CFT regulations, similar to those governing online casinos worldwide.It is important to note that Curaçao casinos are not responsible for tracking players who register from unrestricted regions and access the platform via VPN connections.

Key Benefits of the Curaçao Gaming License

• Cost-Effective: Competitive pricing compared to other jurisdictions.
• Ease of Setup: Streamlined registration and compliance process.
• Global Reach: Ability to operate internationally, subject to local laws.

Why Choose Curaçao for Your Gaming License?

With its straightforward application process, transparent requirements, and comprehensive regulatory framework, Curaçao is an ideal choice for startups and established businesses in the online gaming sector.

How Much Does a Curacao Gaming License Cost?

You can expect a Curacao gaming license to cost between (Mandatory Services): EUR 73,400–88,900, depending on the exact corporate structure. This fee includes all the necessary steps to be undertaken to get your online gaming operation up and running, including:

The New Curaçao Gaming License fees

Establishing your presence in the gaming industry with the new Curaçao Gaming License involves a streamlined process with the following services and costs:

Company Formation Services

• Holding Company Incorporation: Establishing a holding company to manage your license.
  Price: EUR 3,300 (includes corporate documents and courier services).
• Annual Maintenance: Covers registered office services and a resident agent in Curaçao.
  Price: EUR 2,800 per year.
• Local Executive Co-Director: Required by Curaçao law for company operations.
  Price: EUR 2,800 per year.

Total for Company Formation: EUR 8,900.

License Application Fees

• License Preparation and Management: Includes registration, compliance, and due diligence processes.
  Price: EUR 3,000.
• Business Plan Preparation (Optional): Creation of a business plan and financial forecasts required during the application.
  Price: EUR 5,000.
• KYC Policies Development (Optional): Preparation of nine required policies for regulatory compliance. This includes Information Security, AML, and Responsible Gaming policies, among others.
  Price: EUR 9,000 (includes 60 hours of legal work; additional hours charged at EUR 100/hour).

Total Application Costs: EUR 3,000–17,000 (depending on optional services selected).

License Fees (Curaçao Gaming Commission Board – GCB)

• First Year:
  • License Approval Fee: Payable upon approval.
    Price: EUR 18,500.
  • Annual License Fees: Payable monthly in advance.
    Price: EUR 3,600/month (EUR 43,200 annually).
• Second Year and Onwards:
  Price: EUR 5,000/month (EUR 60,000 annually).
• Domain Inclusion: Covers up to 40 domains. Each additional domain costs ANG 500.
• Optional Services Total: EUR 34,900–42,300 (includes nominee shareholder, nominee director, power of attorney, local Curaçao director, physical office, corporate account opening, and crypto merchant account opening).

Total Price Calculation

Mandatory Services

• Company Formation: EUR 8,900
• License Application Fees: EUR 3,000–17,000
• First Year License Fees: EUR 18,500 (approval) + EUR 43,200 (annual fee)

Subtotal (Mandatory Services): EUR 73,400–88,900

Recurring and renewal costs for a Curacao gaming operation

The initial fees charged for all services by GBO include the first year’s operations of the Curacao holding company from the date of registration.

After the first year, there are several recurring charges and fees, including:

• Renewal of the Curacao company license, including government fees, legal fees and stamps
• Renewal of the European company license, including legal fees, government fees and stamps
• Renewal of the sub-license on contract from the Master License holder
• Payment of Curacao resident agent fees
• Payment of Curacao registered office costs and all the other associated business costs
• Renewal of general liability insurance, professional liability insurance and other associated insurance covers.

These charges are bundled into GBO’s fees for annual services.

The table below set out the current pricing for the services. This is not a binding quote. You should discuss this with a GBO officer in order to negotiate a final quote and contract for the full services.

Curacao Sublicense Gaming License Validity and expiration:

The GCB hereby reiterates that the Master Licenses will not be renewed or extended beyond their current expiration dates.

Master licensor (ML) Expiry license

1. Gaming Services Provider NV 18-Aug-2024
2. Cyberluck Curaçao NV 01-Oct-2024
3. Antillephone NV 28-Nov-2024
4. C.I.L. Curaçao Interactive Licensing NV 31-Jan-2025

If an operator’s master license expires and the operator has submitted a complete application for a direct GCB license but has not yet received a decision, the operator is eligible for a temporary Certificate of Operation issued by the GCB to continue operations.