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.
Gibraltar licensing is available for all games, except lottery games. Entrepreneurs may require one or two types of licenses.
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.
The licensor reserves the right to verify such aspects with respect to the Gibraltar gambling license applicant:
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.
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:
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.
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.
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.
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