Curacao’s Gaming Control Board has begun the application process to issue new licences for online gambling.
Operators can now access the new online portal of the GCB, which provides information about the licensing process and also includes the application form, starting today (1 September). Also available are downloads and guidance notes.
The deadline for submitting completed applications is November 2023.
Curacao is preparing for the National Ordinance for Games of Chance. This law will alter the way foreign online gambling operators in Curacao are licensed.
The new licensing system does not replace the National Ordinance on Offshore Games of Hazard, Curacao’s existing legislation. It adds to it.
Both new operators and holders existing sublicenses can apply through the portal. The latter can continue to run their business as usual.
The regulator will issue a provisional license to operators who are approved for a licence after November. The provisional licence will only be issued if the audited policies, procedures and other documents are submitted within six months.
The operators who have been granted a license will not be required to apply again under the LOK. The new authority will take over their position.
New online gaming licenses: Application process
The LOK will be a game changer for a market that was once thought to be passive in terms of regulation. Javier Silvania said that he did not see any issue with the matter in July 2022 after it was pointed out that higher licensing standards might lead to operators leaving the jurisdiction.
Curacao’s current law requires operators to submit a request to one of the four master licensees in order to obtain a sub-license. Sub-licensees have three months after the LOK is in force to apply for a direct operator license with the GCB.
Sixienne Jansen was Curacao’s legal advisor and explained the new licensing system at iGB L!VE, in July. She explained the three-form application process. Documentation will be required for each form.
First, the applicant must submit an online application in which he or she will outline their business goals and projections. The second document is a personal statement that provides information on key business figures.
Any person who has more than 10% of control over the business will be subject to a source of funding check. The final form is a combination of business and corporate disclosures.
