Dominican Republic online gambling license
The Dominican Republic is situated in the Caribbean Sea and is dividing two islands: Hispaniola and Haiti. Authorities of the country offer foreign companies plenty of profitable opportunities to conduct business. The taxation regime in this country is grounded in the territorial principle and seems very interesting to many entrepreneurs.
The local gambling market is closely connected with the tourism industry. It has made the country a successful gambling and entertainment resort. The affordability of casino games has attracted about four million gamblers to the Dominican Republic 8 years ago.
Firstly its gambling market was focused only on international travelers. But the growth of demand has prompted authorities to open up the market for local residents as well.
Today we can name over sixty land-based gambling establishments in the Dominican Republic. Besides, among the local members of the market we can see over 24 thousands of lottery operators. Sports betting is considered to be another area of gambling in the country, which provides its strong and competitive position.
Gambling activities are carried out in compliance with the republic’s legislation that has the aim to have a handle on the expansion of the gambling market and the introduction of limitations on new sports betting and lottery agencies.
The casino department of the Ministry of Finance regulates the operations of providers of gambling services, it also involved in casino licensing for carrying out gambling activities.
All activities in the lottery sphere are monitored by the state lottery Loteria Nacional, which also had a right to issue special types of licenses connected with the same gambling area.
The main source of gambling regulation in the Dominican Republic is the law № 351, passed in 1964, according to which gambling is recognized as a source needed to attract tourists.
How to buy an online gambling license in the Dominican Republic?
The way with the help of which the government carries out its policy has attracted international gambling operators. Following the recent trend of a liberal attitude towards the legalization of online gambling, 11 years ago the Ministry of Finance has received a right to grant licenses for those who involved in gambling activities, that is playing casino games, including their electronic versions.
Such permissions are granted by the casino department and under the Minister’s signature. However, the final summation of applications is conducted by the National Casino Commission, which reports to the Minister of Finance (acting as its chairman), as well as to the Secretary of Homeland Security, to the Director General of Tourism and to the Director General on internal taxation.
What are specifications needed to obtain a casino license?
Today it is possible to receive such a license only if you own land-based gambling establishments. However, the casino department is expected to issue guidelines that must be followed by those who would like to get an online gambling license.
As for now, operators of land-based casinos need to satisfy the following requirements to be able to obtain a casino license:
- to own or to be licensees of the first class hotel. At the same time, they may delegate control to someone else, who will need to uphold the gambling law and pay all necessary taxes;
- location of gambling establishments needs to be attractive for tourists;
- to be solvent, and to have an unchallenged reputation (as well as partners of the operator).
An application for a casino license must be written in the name of the Minister of Finance, and it is very important to attach the following documents to your letter:
- the list of games, which are planned to be installed, their description and character;
- access conditions to your casino;
- the list of limitations on the placed bets;
- working hours;
- the list of bonuses;
- a receipt for payment of the state duty (RD 4.00);
- a feasibility report: plan of the project, investment, infrastructure (drawings, photographs, etc.), plan of the installation of gaming tables and slot machines, project of the attraction of tourists;
- copies of all documents which are connected with the creation of your casino;
- a certificate confirming that the managing company has no outstanding debts to the Department of Development and Project Finance of the Central Bank;
- the description of an administrative staff machinery –names, professions, addresses and identification documents of CEOs and managers, as well as any changes in the administrative staff machinery;
- members of this administration can’t be replaced by others (individuals or companies) in the absence of permission of the casino department. Besides, the casino license can’t be granted without the decision of the National Casino Commission.
It an application and submits a report with its opinions, and only after these executive bodies can make their final decision. If the gambling establishment conforms to all parameters, it has all possible chances to receive a casino license.
Licenses may be changed or cancelled by the government if there is a threat to the public order or if authorities find a serious breach of provisions named in the law №351.
Gambling among minors is strictly prohibited in the country.
Casinos can provide their services from 16:00 to 4:00. In light of the purpose of the Decree №308, passed in 2006, it is possible to provide players with alcohol drinks from 00:00 of Saturday until 02:00 of Sunday.
At the moment, casinos are allowed to perform their operations in any currency.
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