Gibraltar: online casino license. Review
License is a key document for any legal activity. Gambling business is not an exception that is why those who want to open casino are obliged to buy online gambling license.
Nowadays it is easy to buy casino license from Online Casino Market. Their experts cooperate with jurisdiction of Gibraltar and will contact them in case if Gibraltar online gambling license is needed. Online Casino Market will also help you to open casino without any issue or buy casino ready for use.
Gambling organizers receive permits issued by special committees from offshore countries: Alderney, Estonia, Curacao, etc. These countries are usually small and peaceful with average economy. That is why government of offshore territories agrees for casino licensing improving conditions for international companies that bring significant income by way of taxes.
Jurisdiction of Gibraltar, region of Great Britain, is one of the most popular registering committees. Small country Gibraltar occupies part of the Iberian Peninsula with population 30 thousand people. However, today Gibraltar is a member of European Union with independent government and one of the most prestigious and reputable jurisdictions in the world.
Gibraltar committee started to issue casino license in late 1990. Then government was slightly changed and in 2005 Gambling Act was accepted that regulated gambling organizations in the country including online gambling licenses.
Gibraltar online casino license
It should be noted that business owners who decided to receive online gambling license in the committee of Gibraltar get lots of benefits, guarantees and other bonuses from regional authorities. First of all this is reliability and excellent reputation thanks to respected and prestigious world-known jurisdiction.
Online casino license in this country is issued by the Department of licensing that differentiates types of gambling activities and provides various permits separate for each of them. Gambling committee regulates gambling business.
Only verified and reliable company has the right to get online gambling license. Jurisdiction controls very strictly the fulfillment of requirements by future licensees and does not accept documents of there is a slight suspicion of criminal activity. Only that candidate can receive Gibraltar online gambling license who has already (or had) gambling business license issued by other reputable jurisdiction.
Experts affirm that the company newcomer can not receive Gibraltar online gambling license: serious recommendations from experts in finance and economy are needed for this.
That is why jurisdiction of this country is considered one of the most reliable and safe in the world and only verified companies, holdings and corporations possess it.
Taxes on Gibraltar
Gambling tax is 1% from total income in this country. This is one of the smallest tax amounts in offshore countries. Maximum tax can not exceed 425 thousand pounds and this fact appeals very much to huge gambling companies. Minimal tax amount 85 thousand pounds is not high as well. Thus, tax payments are similar for everyone and attract participants from the market with different income.
Besides, business owner when submitting an application does not have to pay any fees and the price of online casino license is not exorbitant.
As noted above, each separate activity gets Gibraltar online gambling license. It costs 30-70 thousand dollars and is valid for five years. Business owner pays $2800 for every next year that is much less than any amount for license prolongation in other jurisdictions.
Department issues online gambling license for Internet-casino, poker rooms, bookmaker offices, slot machines, bingo, lotteries, totalizators and other gambling venues with games and bets.
Advantages of Gibraltar online casino license:
- business owner improves his reputation becoming a member of UN market;
- business owner pays minimal tax 1% from total income for his gambling activity;
- no VAT;
- gambling venue owner gets benefits and guarantees from the government of Gibraltar alongside local companies;
- licensee is subject to reliable government with stable economy that provides him with unhampered work and development;
- everyone who wants to buy casino license, soon after – licensee, is guaranteed to keep financial privacy and security and also possibility to open merchant account;
- payment transactions are not controlled by the system and are not disclosed;
- ideal offshore zone is created in Gibraltar where government encourages gambling business development in every way.
Afterwards, a lots of gambling companies are registered in the country, and famous brands move their business under Gibraltar jurisdiction. Thus, only in 2013 25 new online gaming companies were discovered providing 2 thousand working places.
Gibraltar also issues “midline” casino licenses that enable activity of the companies providing intermediary services, for example, offering software to casino operators.
Requirements of casino licensing
As already said, not every applicant for online gambling license can get it as the committee advances strict requests on various categories, particularly, company’s financial status.
In order to receive gambling business license it is needed to submit the following documents to the jurisdiction:
- the names of company founders;
- copy of the Statute and shareholders’ resolution about assignment of the Head of company;
- passports copies of the founders and shareholders;
- bank certificates that confirm accounts with available funds;
- mention domain and web-site that should be operating perfectly to get profit;
- positive results of financial audit proving the high quality of online casino software;
- recommendations from reputable representatives of the country non-resident financial system.
Detailed business plan includes:
- Performance characteristic of the company.
- Goals and tasks of the company.
- Description of all the games (name, game play, profitability, etc.).
- List of payment systems.
- Evidence of financial operations reliability (technical characteristics).
- Forecast for three years – expenses and assumed income.
- Partnership certificate and information about partners (reputation, activity).
Gibraltar online casino license is very important document and it is considered a big success for business owner to get it, in this case he may develop his business at the European gambling market and receive a good income. Loyal legislative system in gambling and strict control of participants enable to improve this work.
Detailed business plan and sufficient financial independence are the key features needed for licensees. Any candidate – no matter if he is a resident of Gibraltar or not – will get benefits. For example, there is no need to pay taxes that run high in other countries.
Online Casino Market offer to their customers to buy casino license because thanks to successful experience and cooperation with committees with almost all offshore countries the experts will help to contact jurisdiction to conclude agreement within short time. They will assist the licensee to gather all necessary documents needed for gambling licensing.
Besides, you can try to open casino with Online Casino Market or buy casino from them in order to save your time and efforts. You can contact Online Casino Market on any matter and they are always ready to help you.