Eternity Law International — News — Dominican Republic Gambling License

Dominican Republic Gambling License

Published:
January 28, 2020

The idea that a pleasant vacation can be a source of profit will delight any vacationer. But when setting up a gambling business, you will need a gambling license. This applies to any jurisdiction, including the Dominican Republic.

There is a real example of this development of events. The authorities of the Dominican Republic do not interfere with the work of active entrepreneurs, and the tax system itself suits many businessmen. Such a favorable environment creates an increased demand for online casino gambling licenses.

A license of this type can be obtained without any problems by contacting Eternity Law International. Highly professional staff will help you arrange the procedure for obtaining a license. All wishes will be taken into account and the most attractive options will be selected.

The gaming business of the Dominican Republic is closely intertwined with one of the most popular industries – tourism. The lion’s share of the number of people who have visited the resort are those who are attracted by the entertainment zone.

Initially, this business was designed only for foreign tourists. After the growing popularity of gambling among local residents increased, the government decided to expand the gambling market. A large number of indigenous people are now licensed to open casinos.

The authorities have passed laws that clearly regulate the operation of the entire gambling industry. The influence extends to the entire market: growth is being monitored, work is being adjusted, and the functioning of lottery offices is being controlled.

Gambling activities are subject to the Ministry of Finance. Only they issue licenses. After obtaining a gambling license by the bookmaker, the Ministry of Sports joins the control.

Loteria Nacional accompanies the progress of all game operations. The main law on gambling in the state states that the gambling business is a good source of attracting tourists to the republic.

Features of the procedure for obtaining a gambling license

Compared to other states, the Dominican Republic is trying to make it as easy as possible to purchase a casino license. This makes it possible to create the most comfortable and understandable conditions for entrepreneurs.

The registration procedure is carried out by the casino opening department of the Ministry of Finance. The assessment result depends on the appointed commission. It consists of the following residents:

  • the Minister of Security;
  • Minister of Finance;
  • General Director for Tourism;
  • General Director for Internal Taxation;

The favorable conditions created by the government for starting up a gambling business help to attract new investors. They are attracted by such moments:

  • for the implementation of entrepreneurial activities there are no special requirements for reporting on the activities carried out;
  • a license can be obtained in a very short time, it is not necessary to be present.

Requirements for obtaining a license

The procedure for obtaining a license for an online casino is the same as for stationary gambling establishments. This is due to the fact that individual requirements have not yet been thoroughly developed. They promise to change the situation soon. The following conditions are imposed on the licensors themselves:

  • the recipient must be the owner, tenant or licensee of a first class hotel; the owner of the license can connect a third party for joint management;
  • the casino must be located in a tourist area;
  • it is imperative to show solvency to shareholders.

But this is not enough to establish your business as promising and profitable. The operator must provide more meaningful information in the application.

  1. Description of games (principle, features of work).
  2. Information about the bonus system.
  3. Copies of documents of all founders.
  4. Certificate confirming the absence of any debt to the Central Bank of the country.
  5. Detailed investment project.

With the help of the above and obtained information, the national commission conducts an examination. The result will serve as a decision – whether a gambling license is issued or not.

The laws in this area are quite loyal. If you want a license for an online casino, then you need to put in a little effort, but then they will be more than paid off with bonuses in the form of permanent earnings.

To speed up the procedure, you can simply buy a turnkey online casino. This is the perfect way to save time and money. Do not deprive yourself of the opportunity to become a successful and independent businessman – contact Eternity Law International and get legal assistance.

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