Professional Legal Services for Acquiring Offshore Gambling License

Setting up a licensed gambling company offshore

Online gambling is not necessarily a fully regulated activity all over the world. There are countries and jurisdictions that either prohibit the existence of such establishments completely, impose severe restrictions, or do not explicitly state their legal position whatsoever.

In order to avoid possible complications in such cases, gambling business owners may stick to operating with simple companies, even though it is subsequently harder to gain the trust of third parties. At the same time, in jurisdictions where online gambling is fully allowed and regulated, an official license is required first and foremost.

When we talk about offshore jurisdictions, we primarily mean those that are marked by a relative simplicity of the licensing process. If you’re just launching your gambling startup, such a license will rid you of innumerable obligations. How to apply for an offshore gambling license? Is it costly? What are the most common pitfalls? Let our legal experts answer these questions for you.

The legality of gambling companies offshore

The first and most important question is whether operating a gambling company offshore is legal. If your business is registered in one of the regulated gambling jurisdictions, such as Curaçao, Cyprus, or the Belize gambling license, it automatically gains better trust from banks, other financial establishments, potential partners, and most importantly, your clients.

At the same time, some countries essentially do not regulate gambling activities due to the absence of corresponding laws or legal restrictions. In that case, you can still run a gambling company registered in one of these countries but the level of trust toward your business will be significantly lower.

For instance, if you decide to register your gambling business in Costa Rica, banks and other third parties are likely to require additional guarantees confirming the transparency and legitimacy of your business. All these documents should be drafted by an experienced lawyer.

Registration: usual requirements

The question on the table is how to get an offshore gambling license? Apart from tailoring your gambling startup so it complies with the requirements of your chosen licensing jurisdiction, you will need to prepare a number of documents that underpin your intentions and trustworthiness. These requirements may vary depending on the country but the usual package goes as follows:

• documents proving the identities of the beneficial owners, such as passport or ID copies;
• financial guarantees for your startup, such as the means of funding and expected expenses and profits;
• a detailed business plan with all the key information about the startup;
• clearly defined measures to be applied to ensure safe gambling activities and prevent addiction;
• a certificate proving the absence of a criminal record of any of the beneficiaries;
• description of the E-gaming software and other gambling services to be provided by your company.

Advantages of registering your gambling company offshore

An offshore gaming license can bring your business lots of advantages. We are sure that you want to give your company a head start and ensure its future profitability at the very first stage. Here are the main perks of an offshore gambling license that will get your startup going.

 Faster process

First things first, obtaining an online gambling license in offshore jurisdictions is a way faster process compared to “onshore” countries — for instance, France. Specifically in the case of countries that do not regulate gambling activities whatsoever. The lighter application requirements take up less time to be fulfilled; as a result, your company will go live and start offering its games to clients around the world way faster than you can expect.

The same goes for regulated countries. Such jurisdictions as Curaçao or Anjouan won’t slow down the license issuing process as soon as you are ready to provide them with all the required documents. A quick licensing process for your company that also complies with legal regulations is possible, effective, and available to all.

Lighter requirements

Offshore gambling licenses are simpler to get. It stands as a fact that the majority of young entrepreneurs resort to registering their casinos under offshore jurisdictions. Compare the process to France: you will rarely see an online casino operating under a French license since the country’s licensing requirements are practically merciless in terms of funding, technical equipment, personnel, and minor but very tedious formal procedures.

On the contrary, offshore licenses are considered way more lenient. For example, the Anjouan gambling license has recommended itself as the fastest and most cost-effective one in the world. The jurisdiction approves applications from every corner of the world, in return granting a speedy licensing process that accords with all the laws and the lowest GGR taxes in the world.

More possibilities

Offshore gambling jurisdictions always work in favor of the entrepreneur and their potential clients. As long as you comply with the comparatively mild licensing requirement, you get to run a gambling business that is both legitimate and far-reaching. Say, these are the main gambling services you intend to provide to customers:

• Online casino;
• Online lottery;
• Poker;
• Sports betting;
• Live sports betting;
• eSports betting.

If you already have a certain expertise and watchfulness in the sphere, then you must know that most gambling companies on the market offer these services under offshore licenses. The reason is simple: it opens all the doors that lead to success.

Such intricacies as managing your gambling business, funding, taxation, advertising, and building a client base won’t pose a challenge anymore. In fact, with an offshore gambling license, you will be in your element even if it’s your first startup ever.

Offshore gambling company: remote creation and operation

Is it possible to maintain a successful gambling business remotely? Totally. The CEO’s local presence within the licensing country is not obligatory.

In most cases, an offshore licensed gambling company can be entirely created, operated, and maintained remotely. What does it mean for you? Usually, no need to hire local employees or rent a local office. But most importantly, you can navigate your business from any part of the world. Perhaps, complete flexibility is the main benefit of an offshore gambling license.

Besides, most offshore licenses are tailored to target worldwide gambling markets. You can often find, for instance, Curaçao-licensed online casinos or bookmakers that offer their services in more than 100 countries of the world. With an offshore license, your business can do it too. Such companies can target potential customers in jurisdictions where gambling activities aren’t explicitly regulated or even partly restricted.

Apart from this, as an employer, you can hire remote workers from different countries of the world. If you already have a strong business strategy, you shouldn’t limit yourself when it comes to the scope of professional and result-oriented workers. Build an efficient and inspired team of experts who will maintain and improve different aspects of your business. You can locate your IT department in India or hire powerful marketing leaders from Canada, thus making your company multinational.

What you must know about gambling licenses offshore

To sum up all the aforementioned points, here are the main advantages of having an offshore gambling license. Mind that not all offshore jurisdictions have equal benefits for licensees. In order to obtain more details that will apply to your specific case, feel free to request a consultation from one of our legal professionals.

• Price: offshore licenses are generally way cheaper than their alternatives issued in the EU or North America;

• Speed: time is money, hence a faster licensing process will account for faster profits;

• Effectiveness: offshore gambling licenses are no worse than their counterparts in terms of the covered markets, approved gambling services, and general maintenance;

• Market freedom: offshore licenses cover multiple areas around the world, both those that allow online gambling and those that do not de facto regulate it. This practically lets your gambling business operate locally without obtaining the license of a specific country;

• Remote operation: when your gambling business is licensed by an offshore authority, you can operate it from any part of the world;

• Marketing: with an offshore license, your casino or betting site can reach and obtain client bases in all countries of the globe that either allow online gambling or do not explicitly prohibit it. This creates more room for advertising and promotional campaigns.

You might want to obtain an offshore gambling license if the requirements set out by the so-called “traditional” licensers are too strict to comply with. Compared to them, the majority of offshore jurisdictions ensure a cheaper and faster licensing process that is as lawful and effective as any alternative.