Gibraltar

20.10.2020 11:19
0

Beyond all questions, Gibraltar is one of the most demanding countries where casino licenses are issued. Gibraltar is a small island in the Mediterranean sea. For several years it has been a member of the European Union and under the aegis of Great Britain. The issue of licenses for gambling business here started back in 2005, and now, any operator can submit an application. After reviewing it, the regulatory body will take a decision. But in reality, everything is somewhat different, and it is extremely difficult to open a licensed casino in this jurisdiction. The fact is that the regulator considers applications exclusively from large operators who have managed to win themselves a name and reputation. Ordinary mortals can’t get here.

At the moment, just over 30 companies that own large Internet clubs, poker rooms and bookmakers have received a local state license to pursue gambling activities.

Advantages of licensing in this jurisdiction

  • The country’s leadership actively helps to develop the online gambling business by providing guarantees to licensees;
  • The minimal level of taxes;
  • High prestige of the Gibraltar license;
  • Different licenses for all types of gambling are issued in this jurisdiction;
  • A well-judged legal basis formed over the years of working with major operators in the area of online gambling.

More on legislation. Here it is made up in a special way, which allows to gambling companies not only to work, but also to enjoy tax advantages. This allows not only to maintain the highest reputation of the jurisdiction, but also to maintain the attractiveness of Gibraltar for investors.

Licensed casino: types of licenses in the country

In fact, in Gibraltar, all licenses are divided into two types: B2C and B2B. And the difference between them is very considerable. Thus, B2C owners are allowed to provide services to players directly.  First of all, these are land-based and licensed online casinos, bookmakers, lotteries, poker rooms, etc. But the B2B license is necessary for the companies that develop and sell game software.

At the moment in the jurisdiction are presented following licenses:

  • for opening a bookmaker’s office;
  • for mediation in betting;
  • for opening land-based and online casinos;
  • for opening arcade machine club;
  • for lotteries conducting;
  • for the pool promoter;

In order for your application to be considered by the regulatory organization of the jurisdiction, the operator must have a solid reputation, impressive experience in the gambling market, have an adequate business plan and have one (better several) licenses obtained in other countries. As already mentioned, it is almost impossible to get a Gibraltar license. Only 34 companies managed to do this in the beginning of the last year.

The price of licensing

The minimal cost of a license is 30000 pounds (a lot depends on the kind of institution the operator is going to open). You should also understand that if there are several types of  gambling (for example, casinos and bookmakers) on the portal of the operator who provides the services , you will need to buy 2 licenses separately. In such situations, the price is formed individually.

Taxes

By the way, most jurisdictions require payment only for reviewing the package of collected documents submitted by the license applicant. And in Gibraltar – the operator does not have to pay for this, this service is free. Now to the topic of taxes. It was already mentioned above that the taxes are low. And this is true, the tax levy constitutes 1% of the profit.

In addition, the authorities of Gibraltar are helping to attract new operators. For example, the maximum tax fee for gambling is 425000 pounds, and the minimum tax fee is 85000 pounds. Thanks to this, a licensed online casino of any size will be able to operate comfortably under this license. This jurisdiction is extremely profitable for large global companies, because for them 425 thousand pounds is nothing.

The final licensing price is formed individually, but it does not exceed 70000 pounds. The state license is issued at once for five years, during this period of time you have to make annual contributions of 2.8 thousands dollars. This is much less than in most other jurisdictions.

Requirements for obtaining B2B and B2C licenses

  • The office of the casino or bookmaker manager must be located in Gibraltar;
  • Perfect reputation of all founders and managers of the company;
  • Impressive experience at the gambling market;
  • Having a license in another jurisdiction;
  • Opening an account in the local bank;
  • A paid fee.

The process of obtaining a state license

The procedure can be divided into 6 stages. No more than 3 months (excluding document verification time) are allowed for finishing all licensing procedures.

The owner of a gambling business in Gibraltar must:

  • Register the company in the country;
  • Appoint a manager (with a Gibraltar passport);
  • Provide a business plan for the next year;
  • Successfully pass the checking of technical equipment that will be used in the operation of online casino or bookmaker;
  • Obtain multiple work permits from local officials;
  • Submit all documents to the supervision body and wait for a response.