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Obtaining a gambling license in GibraltarObtaining a gambling license in Gibraltar

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Gibraltar authorities issue licenses to a limited number of applicants. They are reluctant to issue licenses to new companies. Obtaining a gambling license in Gibraltar is quite difficult. Applications are considered only from experienced entrepreneurs, duly licensed, with an impeccable reputation, lucrative financial resources, a realistic business plan. But, there is a possibility of obtaining a license for gambling in Gibraltar, if you plan to perform all operations in this jurisdiction.

Those, who wish to obtain gambling permits, must be provided with a short plan of offers of 2-3 pages, a detailed business plan, which includes details and links to the beneficial owners of previous licenses, the information about the financial situation.

Gibraltar is a pioneer in the licensing and regulation of gambling services. In the 1990s, the first licenses for telephone betting services were issued. Licensing and regulation of online gambling appeared in the early 2000s.

Available licenses

Gibraltar licensing is available for all games, except lottery games. Entrepreneurs may require one or two types of licenses.

Legal advice in obtaining gambling licenses in Gibraltar
To approve your application with the relevant authority you will need:
  • a stable financial position;
  • a realistic commercial plan;
  • an adherence to advertising rules;
  • a confirmation of the availability of means of payment;
  • round-the-clock management;
  • consumer funds should be processed through banks in Gibraltar;
  • annual reports are a prerequisite;
  • a compliance with the Code of Conduct.

The Law on Gambling covers all types of games, except for lotteries, including online. Consideration of applications for permits for gambling lasts from two to six months. The applicant must certify the licensing authority that he can control the viability (business and finance) of the future casino.

A local presence is critical to business licensing. And we draw your attention to the fact, that a consideration of applications may take several months due to a comprehensive legal review.

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A detailed information about potential licensee requirements

The licensor reserves the right to verify such aspects with respect to the Gibraltar gambling license applicant:

  • the honesty and decency;
  • a current financial situation;
  • a well-thought-out commercial plan;
  • an experience in this industry;
  • the ability to maintain the minimum required reserve fund to ensure payouts;
  • a technical infrastructure;
  • website controls (for example, lack of obscene information);
  • a presence of control measures to prevent persons, younger than the age, permitted by law, for gambling;
  • procedures for detecting cases of money laundering.
A license term

Gambling licenses are valid for 5 years. After obtaining a license for an online casino in Gibraltar, you are given the opportunity to renew it annually, after paying £2000 and fulfilling all conditions of the license.

Bans

Lottery permits are not issued in this jurisdiction, except the Gibraltar State Lottery, as well as small fair festivals. The law sets the minimum age for gambling:

  • 16 years to participate in lotteries;
  • 18 years for gambling.
Taxes

Registering a gambling company in Gibraltar, remember, a taxation is regulated by the Income Tax Act. A new corporate rate is 10%.

Under certain circumstances, a parent company is not taxed on dividend income, paid to it by a subsidiary. A Gibraltar company paying dividends does not have to pay tax.

Conclusions

A gambling license is a valuable asset due to Gibraltar's close ties with the United Kingdom. Relatively low taxes serve as another incentive to register a gambling company in Gibraltar.

How to obtain a gambling license in Gibraltar?

IQ Decision lawyers advise their clients on licensing issues, as well as provide assistance at all stages of obtaining a gambling license in Gibraltar remotely.

  • The information outlined in the article is actual at the time of its publication.

  • Please refer to our specialists for checking possible solutions for your business.

  • Still have any questions?

    Fill out the form or contact us as you find convenient: skype, telegram, etc. Our experts will help you resolve the issue.

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