An organization or company does not have the right to start activities without a registration certificate, which is issued by the relevant authorities, but you need to know the specifics of obtaining an online casino license in Estonia. To open a casino, you need to obtain a gambling license.
Today many companies are allowed to issue such a permit. Experts help to draw up the necessary documentation when buying a casino license and provide consultations on all emerging issues.
For those wishing to start engaging in gambling business, the company provides the opportunity to purchase an operating casino, which already has a license. This saves a lot of time.
Offshore license
The main positive aspects:
- Having a license for gambling, the company has the right to exist on legal terms, since the document was issued legally.
- The company is assigned an international status. This enables the owner of the gambling business to conclude agreements with new foreign partners and financial institutions.
- The institution has a security system that protects gamers. This is an important aspect that strengthens the company’s reputation.
- The owner of the online casino is assigned an individual EU number.
- The company does not pay inflated taxes.
- Documents for obtaining a license for a casino are considered, a decision is made as soon as possible.
- In almost all offshore countries, the company does not prepare regular financial statements.
A license to own a gambling business is issued subject to certain conditions and requirements. They are presented by competent commissions. Modern jurisdictions exist in certain offshore countries, where the gambling industry can be developed without breaking the law.
When starting a business, the commission is required to confirm documentary clean financial transactions and the solvency of the company. The general list of the offshore zone includes more than 20 countries. Among them are Curacao, Maine, Costa Rica, Alderney.
These are small states with a small population. There are no political incidents in these countries, a stable situation is always observed. Existing jurisdictions that issue online casino licenses fill the local treasury. Gambling registration funds boost the economy.
Features of obtaining a gambling license
All jurisdictions offer their services on different terms and have personal requirements. Before visiting a company with questions about starting a gambling business, try to find out the rules of the country, the cost and conditions of the controlling commission.
There is not always enough information on the Internet, so it is worth analyzing the sites of existing online casinos and understanding who issued the license. The site must contain scanned copies of documents where the address of the jurisdiction that issued the permit is indicated.
Pay attention to the date, name, phone numbers. You also need to find out information about the current institution (in which country it is located, the contingent of gamers who take an active part in gambling). Try to familiarize yourself with the information that is available.
A significant point is the cost of a license to conduct gambling activities. The difference can be very significant.
Estonian gambling license
Estonia is one of the promising countries. In recent years, she has made a big step in the development of the gambling business. Having survived the economic crisis of 2008, the authorities changed the legislation. Currently, gambling is allowed on the territory of the country.
This is a significant profit to the treasury, which contributes to the development of the economy. Operating casinos are officially registered and pay taxes regularly. The funds received bring significant income to the state treasury. The gambling business in Estonia is steadily moving forward.
Online casino owners are seamlessly entering new markets. This expands the geographic scope and promotes business development. It is known that with a population of 1.5 million inhabitants in Estonia, there are more than 170 gambling establishments in the country; at least 80% of citizens who have reached the age of majority have visited them.
Obtaining a license in Estonia
Anyone wishing to open a gambling business needs to obtain two documents: one confirming legal gambling activity and an Estonian license, which gives the go-ahead for gambling.
The first document gives the right to start a legal gambling business, the second to open an institution in a certain place. The owner of a licensed gambling business, if he is not a resident of Estonia, receives the right to enjoy the established benefits and “freely” conduct activities.
Obtaining a license in Estonia
Anyone wishing to open a gambling business needs to obtain two documents: one confirming legal gambling activity and an Estonian license, which gives the go-ahead for gambling.
The first document gives the right to start a legal gambling business, the second to open an institution in a certain place. The owner of a licensed gambling business, if he is not a resident of Estonia, receives the right to enjoy the established benefits and “freely” conduct activities.
Rules for obtaining a license in Estonia
For potential owners, the Estonian authorities have introduced some rules and are monitoring their implementation. When opening a gambling business in Estonia, a potential owner must prove the honesty of doing business and document the availability of money to open a casino.
To obtain a license for a gambling establishment, the commission must be provided with a package of documents prepared in the appropriate form. Detailed information can be obtained from the executive bodies of Estonia. They will also provide samples of completed forms and familiarize themselves with the list of basic requirements.
A legal entity needs to register in Estonia. Gambling activities must be carried out at the legislative level of the country.
The reputation of all persons involved in starting a business in the country must be clean (without engaging in unlicensed gambling, no criminal record). The company has the right to engage only in gambling activities.
The initial capital cannot be less than 2 million Estonian kroons. Only the owner of the license has the right to make decisions and conduct gaming activities; transfer to another person is not allowed. Estonian gambling license can be obtained by companies related to slot machines, lotteries, sweepstakes and other entertainment systems.
The application for a permit is reviewed by the Estonian Customs Board and the Tax Committee. Before submitting an application for licensing a gambling business, it is necessary to make a payment of the state tax on gambling. It will amount to 50 thousand kroons.
The cost of a license to open an online casino is 700 thousand kroons. The money must be deposited immediately after the commission notifies of its positive decision. Only an adult player can become a member of the casino.
Compliance with this condition is strictly checked by the commission. From the age of 18, he will be able to play simple games. To take part in gambling operations, a gamer must be at least 21 years old.
The right to open a casino can be exercised not only by a legal entity, but also by an individual. However, there is a significant limitation. An individual can only set up an establishment with skill games.
List of documents to be submitted when submitting an application:
- personal data about the founders (scanned passport);
- confirmation of the identity of the head and the name of the company (copy of the Articles of Association);
- documentary confirmation of the presence of an office (payment notices for renting premises);
- bank confirmation of opening an account and the amount of funds (certified by a notary);
- a list of games with a full description that the casino operates with (name, game rules, bonus terms);
- data on real payouts of winnings (confirmation of financial transactions in the casino);
- a system that ensures the safety of customers of a gambling establishment;
- a detailed business plan for the coming years (taking into account costs and calculating estimated income);
- applications to tax and customs authorities for opening a license.
Peculiarities of issuing a gambling license in Estonia
The gambling business in Estonia has its own subtleties. Valid casino games must include the brand and company name. Be sure to follow all the rules during the game, when paying money. In addition, each client can contact the administrator.
Additional conditions for doing business in Estonia are indicated by the organization issuing a business permit, where you can apply for detailed information.
The cost of licensing gambling activities in Estonia
To conduct a gambling business in the country, an Estonian license is required for each planned object. The number of applications should be equal to him. The applicant undertakes to pay approximately 48 thousand euros for the analysis of the “operational” license.
The cost of considering an application for opening (creating) a casino is 32 thousand euros. Tote orders start at 3,000 euros.
The gambling establishment must pay tax on net profit, which is 5%. The total amount of deductions depends on the number and types of “one-armed bandits”.
The tax for lottery activities has increased in recent years, it is 18% of the proceeds from tickets (previously it did not exceed 10%). The license for the casino is valid for 10 years, and the permit that certifies its opening is 5 years.
In addition to licenses for online casinos, it is possible to obtain permits for land-based gambling clubs, as well as those located on yachts and ships that fly with the country’s flag.
You can buy a casino license from Eternity Law International. You don’t have to waste time preparing documents and searching for information. Professional employees will prepare all documents themselves that comply with the requirements of the jurisdiction of Estonia. Eternity Law International can offer a convenient way to open a casino or buy an existing one, on mutually beneficial terms.