Costa Rica: Online Gambling License. Laws and Cost
Obtaining a license for conducting any business makes it legal. The same can be said about the sphere of gambling. We know that it is a very lucrative business, which brings its owner high income, this is why today so many people want to open a casino.
However, in many countries gambling is prohibited, and the number of land-based gambling establishments is reducing. But instead online casinos are extremely popular nowadays, and it is possible to register this profitable business after buying an online gambling license.
According to experts it is better to buy a casino from Online Casino Market. This company is known as a successful provider and supplier of gaming equipment.
Experts offer to buy a casino license from the brand, ensuring that all documents will be made out in a short period of time and immediately sent to the jurisdiction of Costa Rica.
Currently, companies (entrepreneurs) which want to buy a casino realize that they need to pass through a casino licensing process and think of where is better to do it.
Today the best option is a purchase of a casino license in offshore countries where taxes are low or there is none of them at all. Besides, authorities of such countries have established loyal gambling laws, and now they are trying to create favorable conditions for the development of the gaming industry.
Among the offshore countries where it is better to obtain an online gambling license we can name: Alderney, Curacao, the Isle of Man, Gibraltar, Malta, and many others. In this article we offer you to pay attention to Costa Rica, a state with stable economical and political conditions, which allow international companies to operate without any problems in different areas, in particular, in the area of gambling.
The fact that the Republic of Costa Rica has no gambling laws that set strict requirements for casino owners allows this business to develop freely and independently.
Costa Rica issues not the same casino license as in other jurisdictions. Gambling companies can carry out their activities only after the receiving a special commercial license (Data Processing License), which gives them a right to provide gaming services, such as: online casino, online poker, bingo, sports betting and other types of betting.
In total, more than 200 online casinos have registered in Costa Rica. These gambling establishments provide players with an opportunity to use their services and enjoy having fun in various gaming clubs and online casinos. Every company, which has registered in Costa Rica and has obtained an online gambling license, can offer such services. It will be free from any testing and regulation conducted by the regulatory authorities.
Besides, businessmen do not need to pay any income taxes, and it is considered to be the main advantage of the jurisdiction of the Republic of Costa Rica.
The Costa Rica online casino license grants a lot of privileges to owners of gambling establishments, as this country guarantees economic reliability and complete freedom of action.
The advantages of buying a casino license in Costa Rica:
- stable political and economic situations in the country;
- acquisition of the status of an international company;
- ability to enter into agreements with US and EU companies;
- absence of strict requirements in respect of online casino software;
- permit for a placement of servers in every country;
- right to open banking accounts abroad;
- loyal requirements for the companies’ management teams;
- ability to operate without the income tax;
- absence of audit, as well as accounting and financial reports;
- opportunity to open a merchant-account;
- provision of legal advice;
- business registration and casino licensing in a short period of time (from two to five weeks).
Documents needed for receiving a Costa Rica online gambling license:
- data on the company’s registration in Costa Rica;
- copies of passports of owners of the organization;
- copies of additional documents, identity cards;
- complete information about the company (goals, objectives, etc.);
- characteristics of all games (title, rules, winning percentage, etc.);
- detailed business plan with the calculation of investments and income.
Subsequently, after receiving a casino license the business owner should make a right decision connected with the issue of the opening of an online gambling establishment in Costa Rica. In order to do it he will need to take a number of actions and pay for some services.
To open a gaming company and become a holder of Costa Rica online casino license it is necessary to take the following steps:
- prepare the Articles of Association;
- make a list of directors and shareholders of the company;
- send the Articles of Association and the conclusion of the meeting of shareholders to the Supervisory Commission;
- invent a title of the company and verify the possibility of its registration;
- pay a registration fee for the casino licensing;
- conclude a lease agreement in respect of an office in the country;
- open a banking account for online gambling;
- register a postal address in the offshore;
- receive a permission from the Ministry of Health of Costa Rica;
- effect policies of insurance for employees who work for your organization in the republic;
- register the company's employees in the executive body of the country.
An additional requirement for registration of the company and the issuance of an online gambling license is the presence of a Power of Attorney for resolving the owner’s issues and administering the company’s affairs in Costa Rica. It is necessary to title this document in the name of a specialist who will be given special powers to meet your interests while acquiring Costa Rica online casino license. The document must be signed by the responsible consul of the republic.
Speaking about the cost of services and the online gambling license in Costa Rica, it is important to remember that any company which has registered in this jurisdiction pays a single tax of about 68 colons. This requirement is obligatory and is based on the desire of authorities to replenish the state budget, and additional funds will be spent on the fight against crime and terrorism.
The casino license itself cost $ 24 000. However, this amount may vary depending on various factors, such as services for the urgency or the opening of additional accounts.
After receiving an online gambling license each casino owner gets an opportunity to operate games and to offer customers a huge amount of his products. The only thing that will limit the quota of players is a ban on the provision of gambling services to residents of Costa Rica.
The company registered in the country will receive an international status and will be able to conduct its business on a global level. It is also possible to extend the duration of the company for a small fee once a year.
Currently, it is possible to buy a casino license without any special costs, and without spending your time and energy. Specialists from Online Casino Market will help you to collect a package of documents to be sent to the jurisdiction of Costa Rica in order to receive its online gambling license. Specialists of the company will send you them back after the confirmation of the issuance of the license by the registering authority of Costa Rica.
Online Casino Market also offers to buy a turnkey casino, which is ready for use, along with a casino license, and professional advice workers will share with you some valuable tips on how to conduct gambling activities successfully.
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