GAMING LICENSE IN GIBRALTAR
Gibraltar is a small country situated on the Iberian Peninsula. It is an offshore zone under the control of Great Britain and it is a part of the European Union.
Gambling became popular here back in the 90-s, when the authority of the country started issuing licenses for online casinos. Despite this jurisdiction is quite demanding, Gibraltar’s license provides a row of benefits for its owner.
- low and flexible taxes – as well as in other offshore regions;
- high reputation of the license, as it is issued on the EU territory;
- opportunity to become a part of the European market;
- foreigners receive the same guarantees as to the local companies;
- payment transactions confidentiality;
- an opportunity to get a Merchant Account.
TYPES OF LICENSES
There are 4 types of licenses in Gibraltar. You are free to receive a few licenses at once, the main point is to have legal grounds for all kinds of online and offline activities which you plan to provide.
You can apply for:
- Casino gaming, which covers all kinds of luck games: poker, slots, casino, and others;
- Betting: sports and horse race, fantasy games. This license also includes phone bids;
- “Social” gaming.
As a company owner, you also have to define the business direction. You can provide services under the B2C of B2B license. The B2C segment involves serving the players directly. The B2B license need if you plan to become a part of a gambling market with a bias on other businesses serving. In any case, you can get a license as:
- Remote Betting B2C Operator.
- Other Remote B2C Gambling Products.
- Non-Remote B2C Gaming Operator.
- Non-Remote B2C Betting Operator.
- Gaming B2B Support Services.
REQUIREMENTS FOR LICENSE OBTAINING
Gibraltar makes many requirements for those who want to get a gambling license:
- First of all, an applicant has to present a brief outline (for 2-3 pages) of the future activity of the company, a business plan, personal information about each business partner/owner and employees, information about the licenses issued in other countries and the proven gambling experience.
- Secondly, the applicant must present information about the financial position of the company (proofs of its solvency). The company must have a certain capital, which be used for the player’s betting.
- An applicant must guarantee that all the information and advertising presented in the application are trustworthy.
- The company has to receive personal information from players, including their full name, current address and date of birth. The readiness to follow this rule should be display in the application.
- An annual audit is required.
- Real office availability in Gibraltar.
- Bank account in Gibraltar.
- Take measures to prevent access to the website for the minors.
- Full license payment.
THE PROCEDURE OF A LICENSE OBTAINING
All the process includes several stages.
- Company registration in Gibraltar, appointment of a local company representative.
- Drafting a business plan, which includes the business goals, information on all types of games you plan to provide, list of payment systems, projections for the next 3 years.
- Passing a check on business equipment, getting approval.
- Collection and filing of documents.
The duration of the process can be from 14 to 90 days depending on the type of license and license quantity.
A PACK OF DOCUMENTS INCLUDES:
- names of the founders of the company;
- a copy of the Charter of the company and the owners’ decisions on its registration;
- copies of passports of founders and shareholders;
- bank certificates with the information of the accounts availability and the presence of funds on them;
- indication of the domain and site, which you plan to use for the profit gaining;
- positive audit results indicating the high quality of a casino software;
- recommendations from respected representatives of the financial system of a non-resident country.
LICENSE COST AND DURATION
The amount starts with 30,000 British pounds. The exact cost depends on the type of license.
The license is issued for a period of 5 years, the annual subsequent renewal is about $ 28,000.
GAMBLING TAXATION IN GIBRALTAR
Despite stringent requirements, Gibraltar is an attractive jurisdiction in terms of gambling taxation. The gambling tax here is only 0.15% of revenue. Also, there is no added value tax on this country.
B2B license owners have to pay £ 100,000 annually as a license fee.
B2C license owners must pay £ 75,000 annually as a license fee.
Please, contact us to learn more about gaming license in Gibraltar, to receive an individual offer based on your requirements and detailed calculation to obtain a license for your future or existing business.
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