FAQ - Finlaw

FAQ

In what jurisdictions is a Curacao Online Gambling License valid?

Curacao licensed online gambling operators are expressly forbidden from operating in: Aruba, Bonaire, Curacao, France, The Netherlands, Saba, Statia, St. Maarten, Singapore and the USA. However, each other jurisdiction may have its own rules that limit the ability of a licensed online operator to conduct business in that country. Moreover, one is cautioned to obtain qualified advice regarding the prospect of directing and receiving payments from certain other jurisdictions which may also impact a Curacao-licensed entity to operate.

Does Costa Rica offer an online gaming license?
Costa Rica does not offer an gambling license of any kind. In fact, Costa Rica bans all forms of gambling. However, that legislative structure makes Costa Rica an ideal jurisdiction to establish an offshore casino or sportsbook. Costa Rica does require a Data Processing License which allows gaming businesses to operate from Costa Rica but not serve Costa Rican players. Costa Rican law, unlike nearly every other jurisdiction, states that online gaming occurs in the jurisdiction of the player, not the operator. Therefore, Costa Rica has long been a preferred jurisdiction for online gaming operators.
What is the cost to apply for an Alderney gaming license?
Costa Rica does not offer an gambling license of any kind. In fact, Costa Rica bans all forms of gambling. However, that legislative structure makes Costa Rica an ideal jurisdiction to establish an offshore casino or sportsbook. Costa Rica does require a Data Processing License which allows gaming businesses to operate from Costa Rica but not serve Costa Rican players. Costa Rican law, unlike nearly every other jurisdiction, states that online gaming occurs in the jurisdiction of the player, not the operator. Therefore, Costa Rica has long been a preferred jurisdiction for online gaming operators.
What are the capital requirements for a Forex License in Vanuatu?
Unlike other jurisdictions, Vanuatu does not impose a capital reserve requirement in order to obtain a Vanuatu Forex License. Rather, applicants for the Vanuatu Financial Dealer’ s License, which includes Forex operations, are required to post a surety bond in favor of the Vanuatu Financial Services Commission in an amount up to $50,000.
What is a "blocked" capital requirement?
With respect to offshore license capital requirements, “blocked” capital requirements require the licensee to maintain a specific amount of capital on account at all times. This typically takes the form of a deposit directly with a regulator. For example, in order to obtain a Seychelles Security Dealers License, an applicant must show capital in the amount of $50,000. However, that capital is “unblocked” insomuch that upon proof of funds, the deposit may be deployed and spent to further the business.
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Curacao licensed online gambling operators are expressly forbidden from operating in: Aruba, Bonaire, Curacao, France, The Netherlands, Saba, Statia, St. Maarten, Singapore and the USA. However, each other jurisdiction may have its own rules that limit the ability of a licensed online operator to conduct business in that country. Moreover, one is cautioned to obtain qualified advice regarding the prospect of directing and receiving payments from certain other jurisdictions which may also impact a Curacao-licensed entity to operate.

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Curacao licensed online gambling operators are expressly forbidden from operating in: Aruba, Bonaire, Curacao, France, The Netherlands, Saba, Statia, St. Maarten, Singapore and the USA. However, each other jurisdiction may have its own rules that limit the ability of a licensed online operator to conduct business in that country. Moreover, one is cautioned to obtain qualified advice regarding the prospect of directing and receiving payments from certain other jurisdictions which may also impact a Curacao-licensed entity to operate.