Estonia: Online Casino License
Any activity of the company is not possible without permission from authorities, means, without registration certificate. When it comes to casino this is about online gambling license.
Nowadays you can buy casino license from many companies, for example, like Online Casino Market, their experts will advise you for free on any question. For those who want to open casino specialists from Online Casino Market will offer to buy casino with license so you do not have to waste your time on this.
|Table of Contents:|
- The first important feature of receiving online gambling license is possibility to carry on legal business – this document is a pledge of justice.
- Gambling business owners can conclude agreements with foreign partners and banks. Company has an international status.
- Gambling venues enhance their image at the market and among players who are guaranteed a protection which is very important.
- Casino owners get EU individual number.
- Gambling venue activity is non chargeable.
- Processing an application for casino licensing and receiving documents is done within a short time.
- Company does not have to prepare financial reports (almost in all offshore countries).
It is not so easy to get an online gambling license because you need to meet some conditions and requirements of special registering committees. Today such jurisdictions are situated in offshore countries with loyal gambling legal system that ensures gambling development.
Such committees usually ask licensees for documents confirming their pass-through financial activity, honesty and competence of the company.
The list of offshore countries include: Curacao, Isle of Man, Italy, Costa Rica, Alderney and twenty more countries. All of them differ from each other by small areas, population, peaceful political atmosphere and sustained economy. Jurisdictions that issue online gambling license enable to maintain economy and replenish treasury with additional amounts received from registration and gambling taxes.
You should not refer to the first available jurisdiction as all of them offer various conditions and requirements for online gambling license. First of all it is needed to know regulation of the country, prices and rules of controlling authority. If it is difficult and Internet search does not help, you can monitor the sites of gambling companies that already possess online gambling license.
The sites should contain the scan copies of the permits with addresses of issuing jurisdictions. Check carefully the dates, names, phone numbers, etc. Information about gambling venue is also important: country where it is located and gamblers population who visit the site of Internet casino under this casino license.
In brief, you should find out all available information, especially, the cost of online gambling license issued by jurisdictions. The difference between them may be very fundamental.
First of all, big chances for development. Estonia survived recession in 2008 and soon after this government legalized gambling business in order to renew economy.
Since 2010 casino started to operate that brought significant income through gambling taxes. Nowadays gambling industry is emerging and business owners understand that new markets and new possibilities are important for further development so they are interested in Estonia.
According to the most recent official figures Estonia with 1,5 mln population has more than 170 casinos and other gambling venues that were visited by 80% of adult citizens.
Those who are interested in gambling business should know that they need two permits: gambling operating license and Estonia online gambling license. The first casino license enables to arrange casino games, and the second one – to open gambling venues in a certain place.
Casino licensing provides the right to the casino owner who is not a resident of Estonia to use multiple benefits and conduct business free and without any concern.
Estonian government set up the rules for potential licensees and require their fulfillment. Licensee should prove that his business is fair and reliable from financial point of view, and he has enough funds to work in Estonia. Thus, in order to get online gambling license business owner should submit the licensee package that contains documents of special sample. You need to refer to executive powers in Estonia and find out about necessary papers.
Here is a provisional list of requirements:
- registration of legal entity should be done in Estonia;
- company should follow Estonian gambling regulations;
- all founders and employees should have a good reputation (clean record and unregistered gambling business);
- company is obliged to carry on only gambling business;
- financial sustainability of the company is required and its equity capital should be more than 200 mln Estonian krones;
- only that legal entity that received a license can operate under Estonian online casino license (release is prohibited);
- Estonia online gambling license for operative business is issued to the companies that deal with slot machines, totalizators, lotteries and other equipment;
- applications for online gambling business are reviewed in such reputable authorities as tax committee and customs department of Estonia.
Application for casino licensing is accepted only after paying state fees for gambling (50 thousand krones) and the cost of online gambling license is 700 thousand krones that can be paid after approval by committee.
The main requirement for Internet-casino operators is gamblers’ adulthood as this fact is strictly verified by the committee. Users above 21 can participate in casino games and users above 18 may take part in the smart games.
Possibility to receive casino license both for legal and physical entities that can get permission for smart games organization is a distinctive rule.
Package of documents for casino licensing includes:
- information about company founder (name and last name, address, passport scan copies);
- copies of Statute and foundation meeting assigning company management and its name;
- documents proving the office location (receipts for rent and utility payments);
- bank certificates confirming available funds at the account certified by notary;
- list of casino games and their characteristics (names, game rules, etc.);
- proof of fair reward payments (technical features of casino transactions);
- security features applied in gambling venue;
- detailed business plan for the nearest several years with detailed calculations of expenses and estimated income;
- applications for online casino license addressed to tax and customs authorities of Estonia.
Gambling business in this country requires Estonia online gambling license, means, not only one license is needed but as many as the number of objects are planned to open and as many applications should be submitted.
So, the licensee needs to pay about EUR 48 thousand for “operative” online gambling license analysis, EUR 32 thousand for application for casino launching review, more than EUR 3 thousand for an application to open totalizator.
Online gambling venue should pay 5% tax from net income. Tax for casino slot machines is deducted depending on the number and brand of the slots. Lottery activity became more expensive today – 18% from the income. Earlier it was 10%.
Casino license (gambling organization) is issued for 10 years, permit to open casino – for 5 years.
Besides Estonia online casino license government can issue permits for land-based gambling venues and casinos located on Estonian ships or ships under Estonian flag.
It is worth to note the following feature of conducting gambling business in Estonia: all current casino games should contain in their name the company brand, rules of a game, rules of reward payment and contact details of administration for claims and feedback.
The rest of gambling rules are provided by the company that issued permit for gambling business where you can be advised on any question. All the permits are issued by Ministry of finance.
We offer to buy casino license from Online Casino Market company without wasting time for documents collection. Their experts will help to get all the permits in accordance with the requirements of Estonian jurisdiction. Online Casino Market can also offer you an easier way to open casino or buy operational casino with the best license.