Curacao Launches Online Gambling Application Process
The Curacao Ministry of Finance has officially launched the online gambling application process, as promised. Applicants can either apply for their own license or register to continue as an existing sub-licensee under a master license. The application window for the former opens on November 15, 2023.
There are still some uncertainties, such as the new gambling law and regulations that will supersede the existing regime. Many material changes are expected, but these have not been published yet as the law is still being reviewed by parliament. Until then, the existing “light touch” gambling laws and regulations will apply.
It is also unclear how long a registered sub-licensee can continue operating under another’s license. However, it is clear that existing Curacao operators will need to do something in the next few months to legalize their standing, as many suppliers will want evidence of their intentions.
The license conditions requirements are relatively high-level at this stage, but they lay the foundations for safer gambling and customer protections such as:
- Player-activated deposit and play limits
- Self-exclusions
- Full account information
- Complaints handling
- Marketing opt-outs
Applicants must be Curacao-registered companies. Key persons are defined as the person responsible for the daily management of the operations and the compliance officer. It is not mentioned if these need to be based in Curacao, but it is likely that one of them or another designated person will need to be.
Qualified persons will be required to complete the detailed background application forms, which are likely to be the key persons and UBOs (natural persons with 10% or more ownership or control).
To learn more, visit the new portal.
This article titled “Curacao Launches Online Gambling Application Process” was originally published by Ramparts on 04 September 2023. It is being republished here with permission.
