This jurisdiction is a developing state in Central America, the legal system of which is based on a Spanish civil law. It is a unique state: here companies can conduct business without a special gambling license.
There are no specially developed laws that would regulate online gambling in the state, so licensees cannot be guaranteed security, as in other jurisdictions. Also, many organizations of this type are self-regulatory.
If you decide to start a gambling business in the Caribbean, remember, that getting a special gambling license in Costa Rica is not required. You can work under a license for data processing, which allows you to organize all types of gambling (lotteries, sports games, etc.). Please note, that you do not have the right to provide gambling services to residents of this jurisdiction.
The main advantages of gaming permits in Costa Rica:
- a political, the economic stability of the jurisdiction;
- Costa Rica is not considered an offshore jurisdiction, which gives an advantage for working with clients from the USA and the European Union;
- a developed infrastructure;
- many years of the jurisdiction experience in providing services for gambling organizations;
- reliable telecommunications;
- a highly skilled multilingual workforce;
- a fairly quick, the inexpensive procedure for registering a license in Costa Rica;
- lack of rules for online casinos;
- no direct prohibitions on gambling;
- company servers can be located anywhere in the world;
- the income earned by a firm outside Costa Rica is tax-deductible;
- low operating costs;
- lack of a license fee;
- if you decide to establish enterprises in Costa Rica, you can conduct business around the world;
- there are no requirements for a reporting/auditing;
- it is possible to use the nominee service, when registering a commercial firm in Costa Rica;
- beneficiaries/directors can be of any nationality;
- the minimum authorized capital has not been established (at registration it is necessary to pay at least 25% of it).
Features of obtaining a license in Costa Rica:
- a company registration with the tax authorities of Costa Rica;
- the presence of a local registration agent and officially registered staff is mandatory;
- the presence of an officially registered (with an official rental agreement) office in this jurisdiction;
- all local internet addresses must be blocked (so that no Costa Rican citizen can take a part in online games).
To date, the government is working to create legislation to regulate games in Costa Rica
Please note, a banking system of the state is under a great influence of the United States, local banks are reluctant to cooperate with gambling organizations. That’s why, opening an account with a local Costa Rican bank is quite problematic.
The information outlined in the article is actual at the time of its publication.
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