Eternity Law International News Obtaining a gambling license in Austria

Obtaining a gambling license in Austria

Published:
January 29, 2020

Obtaining a gambling license in Austria

In order for a business (regardless of type) to be considered legitimate, a permit must be obtained in the form of a license when registering it. Obtaining a gambling license in Austria is a prerequisite for conducting activities related to gambling.

This is a basic requirement for all types of activity, which is thoroughly and strictly checked. It should be controlled by the governments of civilized countries. At the same time, special attention is paid to the gambling business, since it is not allowed in all countries.

Permits for gambling business are issued mainly by offshore countries. Special commissions are created to regulate, check and control gambling activities. Such a commission also exists in Austria.

Thus, the acquisition of a license to conduct a gambling business must be approached responsibly and deliberately, having previously studied the legislative framework that regulates gambling.

Gambling licensing in Austria

One of the most prestigious gambling licenses is issued by the Austrian government. This is evidenced by the following:

  • it is a state of the European Union;
  • the government of the country is loyal to gambling (supports gambling at all stages of operation);
  • reduced taxes.

It should be noted that since 2010 it has become more difficult to acquire a license, as the requirements have become more stringent:

  • it is necessary to obtain a separate license for each type of gambling;
  • a gambling company must be located no closer than fifteen kilometers from the capital of the state – Vienna;
  • land-based gambling houses are considered the main business, and online casinos are considered a side business.

However, according to the new legislation, gambling sites can be registered in all regions of Austria (previously only in four regions). In addition, a huge number of players trust the Austrian license, which increases the level of trust and the number of customers at a gambling house with this permission.

Registered gambling companies are taxed to contribute to the Austrian treasury. Therefore, the government pays great attention to the legality of the functioning of gambling establishments (both virtual and real).

Gambling license in Austria: requirements and conditions

The main regulations for obtaining permission to legally conduct a gambling business include:

  • compulsory registration in the territory of Austria;
  • only Austrians should be the clients of gambling sites.

It is noteworthy that gambling houses with licenses from other jurisdictions can operate in Austria, but they have fewer opportunities (for example, they are prohibited from advertising their services in the country). Another nuance is closed access to information about the permitting process.

To obtain the necessary information, you can contact gambling houses already existing in Austria or submit a request to the licensing commission.

To obtain a license to the commission that controls gambling activities:

  • documents are submitted confirming the registration of the company in the country (minutes of the constituent assembly, an agreement for the lease of premises for an office, the company’s charter, information about the directors, etc.);
  • a bank account is opened and an extract from this account is provided (to prove solvency);
  • a detailed business plan is presented (at least three months);
  • positive results of verification and testing of software and equipment are provided;
  • a list of all games (name, description, operating principle) and all payment systems used by the organization is submitted.

According to the Federal Ministry of Finance, which regulates the gambling business in Austria, gambling is widely represented in casinos (among them slots, roulettes, blackjack, craps, poker, bets, etc.).

To date, obtaining permission from the competent authorities for gambling activities is a rather complicated and time-consuming business. Therefore, you can contact special companies for registering a business in offshore zones, whose specialists are well versed in this issue, and also know the specifics and all the nuances.

Pros of buying a gambling license in Austria

By registering a gambling business under the jurisdiction of Austria, its owners will receive a number of advantages:

  • increased income (a stable economic environment contributes to business development, which provides a return on investment);
  • entering the European and global business market;
  • access to innovations in relation to modern technologies that allow taking gambling business to a new level;
  • the opportunity to obtain a visa and a residence permit in the countries of the European Union.

Thus, Austria is ideal for gambling. For legal assistance in obtaining a gambling license, please contact Eternity Law International.

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