Curaçao’s Gaming Alter Board (GCB) has opened the utility job for operators wishing to receive unique online gambling licences from the regulator.
From nowadays (1 September), operators can salvage entry to licence utility kinds from the GCB’s unique online portal, which also affords information on the licensing job. Downloads and guidance notes are also readily in the market.
Submissions of accomplished applications will open in November 2023.
The outlet of the portal comes as Curaçao prepares for the Nationwide Ordinance for Games of Likelihood (LOK). This regulation will change how international online gambling operators are licensed in Curaçao.
The unique licensing job doesn’t reform the Nationwide Ordinance on Offshore Games of Hazard – Curaçao’s existing legislation – nonetheless provides to it.
The utility portal is open to both unique operators and holders of existing sublicenses. Then again, the latter would maybe well fair continue to plan uninterrupted below their most modern arrangements.
After November, operators which are current for a licence will be issued a provisional licence from the regulator. This will be self-discipline to offering audited policies and procedures within six months of its issuance.
Operators which are current for a licence just isn’t going to dangle to re-apply below the LOK. Their location will be transferred to the unique authority.
Utility job for brand spanking unique online gaming licences
The LOK is determined to be huge for a market as soon as notion of as to be passive when it came to regulation. In July 2022, after it was noted that the unique, greater licensing standards would maybe well peep operators withdraw from the jurisdiction, Javier Silvania, Curaçao’s finance minister talked about he seen “no narrate” with the matter.
Curaçao’s most modern regulation mandates operators to use to indubitably one of 4 existing master licensees to receive a sub-licence. Once the LOK comes into drive, sub-licensees can dangle three months to put up a unique utility with the GCB for a relate operator licence.
At iGB L!VE in July, Sixiènne Jansen, staunch advisor to Curaçao’s ministry of finance detailed how the unique licensing regime would work. She also outlined the utility job, which includes three kinds. Every of the categories would require relevant supporting documentation.
The first is a web gaming utility, wherein the applicant will provide projections for business operations and strategic targets. The 2d is a non-public declaration, detailing information about key figures indignant by the business.
A provide of funds test will be performed on any enthusiastic individual with better than 10% help watch over of the business. The last non-public includes company and business disclosures.
