Based on clients’ feedback and our own research, a small set of jurisdictions offer ideal conditions for gaming companies and GameFi projects. We explore structures that ticks all the boxes: fast set-up, reasonable cost, wide range of permitted activities, low or no taxes & ability to deal with crypto.
The gambling industry is an everlasting one, as history shows records of games involving money dating from the dawn of humanity. Internet and now cryptocurrency have brought gaming to an ever growing audience of players and gamblers. No need to go to the casino anymore, one can play on a phone or a computer.
GameFi, for game + finance, is the natural child of bringing gambling online and operating it with crypto. More convenient to design and access, GameFi projects are also subject to regulations throughout the world that are not always clear and, in some case, fairly stringent. With financial services, cryptocurrency and gambling being asymmetrically regulated worldwide, the assistance of LegalBison has helped numerous projects to navigate through the fog of regulation. We have yet to see the first GameFi license, so we compose with gaming and crypto rules.
In this article, we present a popular proven structure and our trend prediction for 2025.
The Costa Rica gambling framework shines as an effective solution for GameFi projects operating in a decentralized manner (or purely with crypto assets). Costa Rica offers a very fast set-up, in less than 2 weeks, and a “hands-free” environment for gambling & crypto companies to operate legally.
LegalBison has successfully supported dozens of projects to get started thanks to a gambling legal entity in Costa Rica, making it a favorite for entrepreneurs and small projects.
When we introduced the Costa Rica Gaming License to our long standing customers, the reception was immediately very enthusiastic.
While being an offshore gambling license, the Costa Rican framework gathers the advantages of a tax-free, permissive offshore jurisdiction and the strength of full fledged license with reputable compliance rules. The outcome is a license that is recognized by banking institutions and allows for hybrid set-ups, suitable for the widest range of gaming and GameFi projects.
LegalBison is cognizant of the needs and expectations of gamefi and gambling operators. This is why our consultants are trained to advise and explain legal solutions that allow your project to jump through all the necessary hoops without having to compromise on the planned activity, nor to multiply your budget to uncontrolled length. Our corporate structures including a Costa Rica gaming license offer the best of all words.
This is a very important question to ask in the first stages of designing the legal structure of your project. The answer lies in the details, but generally speaking, it comes down to a general aspect of your activity: will you, at any point, allow for fiat currency and cryptocurrencies to be exchanged? Another key aspect is in regards to custody of your clients’ funds, whether in fiat currency or in crypto.
The devil is in the details and one should not make assumptions about the need or not for a crypto license, given the possible sanctions for operating without the scope of applicable law. We advise contacting our consulting team for a free assessment and professional advice on the matter.
As we see Costa Rica offering a very convenient legal framework for gaming companies, we expect such jurisdictions to host more and more GameFi companies, while potentially refining their criteria for acceptance. This is where LegalBison can ensure the safe structuring of your gaming or GameFi company: by leading you through the process in a proven manner, and by assessing the best possible structure for your specific project and expectations.
