Obtaining a Gambling License in Costa Rica
Costa Rica is a small country in Central America. It is one of the world’s leading centers of the gambling industry. The country has very specific rules under which gambling is legal. Thus, obtaining a gambling license in Costa Rica is unnecessary, but a company must be registered accordingly. Lawtter Solutions offers clients the opportunity to open a gambling company in Costa Rica as soon as possible.
Services
Advantages
Advantages of Opening a Gambling Company in Costa Rica
Costa Rica attracts a lot of attention from casinos from all over the world. The advantages of the jurisdiction explain it. They are as follows:
Thanks to all these advantages, over 400 casino operators work in Costa Rica.
A casino license is not required in Costa Rica
There are particular types of gambling companies, but going through the licensing procedure is unnecessary.Economic and political stability
Costa Rica is a democratic country with a developed economy based on tourism. Economic and socio-political upheavals are extremely rare here.The opportunity to start operation quickly
The period of company registration is only 3 weeks.Costa Rica is not offshore
The country is on the white lists of the United States and the European Union.Loyal registration procedure
Since a license for a gambling business in Costa Rica is unnecessary, many requirements relevant to other jurisdictions do not apply here.Regulation
How Is the Gambling Business Regulated in the Country?
Formally, there is still a ban on gambling in the country, which has existed for over 100 years since 1922. Nonetheless, in the following years, the government passed several regulations and interpretations of the legislation, which legalized the gambling business.
From the above, it is a logical conclusion that there is no gambling regulator in the country. Gambling is prohibited by law, but in fact, the government legalizes it by interpreting the legislation. Virtual casinos can operate under two conditions:
- They do not have a bank account in Costa Rican banks;
- They do not provide services to residents of the island.
If these two requirements are met, the company can provide gambling services abroad while registered in Costa Rica.
Required Documents for Opening a Gambling Company
Registering a Data Processing company to start a gambling business in Costa Rica is necessary. Besides, you should apply to the registration agent and submit the following package of documents:
Thus, the list of documents to start a business in Costa Rica is minimal.
Requirements
Requirements for Opening a Gambling Business in Costa Rica
The formal ban on gambling is circumvented by creating a company for entertainment on the Internet – Data Processing. Since there is no state regulator on the island and the license for gambling business in Costa Rica is not issued, it significantly reduces the requirements. There are two of them in total:
- At least 2 shareholders are needed.
- The company must have a registration agent.
To open a gambling company in Costa Rica, you do not need to comply with several rules standard to other jurisdictions, such as:
- There are no residency requirements for shareholders, directors, and staff.
- No need to open an account in a local bank (moreover, for online casinos, it is not allowed at all).
- No need to store the company’s servers in Costa Rica.
Accordingly, there are no annual license fees in Costa Rica. There are only fixed corporate fees. Given that the operators of virtual casinos are a priori non-residents (they are prohibited from providing services for residents of Costa Rica), companies can take advantage of the appropriate tax regime. Any income earned outside the island is not subject to income tax.
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