Eternity Law International — News — New gaming regulations in Curacao

New gaming regulations in Curacao

Published:
November 4, 2024

Curacao has been navigating notable alterations to its eGaming certification protocols, creating uncertainty among operators about the evolving rules and associated costs. This uncertainty has often benefited rival jurisdictions like the Isle of Man, which continues to attract a substantial influx of new business. However, Curacao has recently made strides by revealing the proposed costs for its new Curacao gaming licence pattern and  revealing the current state of these transformations in the parliamentary process.

This state is in the process of transitioning from the NOOGH to the new LOK. Unlike the NOOGH, which did not specify differences or B2B and B2C operations, the new Curacao legislation requires facilitators to clearly define their operational type. According to the LOK, a B2C licence is necessary for those who interact directly with players, manage player funds, or handle player data, including companies that support these activities (B2B2C).

Conversely, a B2B licence is only necessary if a company working by such a model is based in Curacao. These transformations are segments of the broader updates to the gaming regulations in Curacao.

As the eGaming landscape evolves globally, facilitators are also exploring certification options in other responsibilities. For instance, obtaining a licence in Romania has become increasingly alluring due to the country’s stringent supervisory sphere, which is perceived as offering a high level of credibility and security. Meanwhile, the process of acquiring a gambling licence in Bosnia presents another attractive option, particularly for businesses willing to gain from the country’s favourable fintech regulations and EU membership advantages. Both Switzerland and Lithuania offer distinct regulatory frameworks that cater to different aspects of the virtual betting and financial services sectors, providing varied capabilities for facilitators and financial entities alike.

Minister of Finance Javier Silvania has announced that the National Ordinance has been officially submitted to authorities for approval. Additionally, he has disclosed the fees associated with the new licences, detailed below:

Charges under the current NOOGH statute

– One operating licence (not categorised as B2C or B2B)

  – Total annual licence fee: ANG 120,000 + ANG 500 per domain (beyond 40 domains)

  – Approximate EUR equivalent: EUR 61,700 + EUR 250 per domain (beyond 40 domains)

Fees under the new LOK pattern (as per the current draft, pending parliamentary approval)

B2C

– Total annual license fee: ANG 96,000 + ANG 500 per domain

– Total annual licence fee in EUR: EUR 49,200 + EUR 250 per domain

IMPORTANT NOTE: Companies functioning from a direct authorisation under NOOGH to the LOK will not be required to pay the ANG 48,000 fee immediately. Instead, this amount will be due on the anniversary of their licence. Additionally, the monthly fee will decrease from ANG 7,000 to ANG 4,000, and the per-domain fee will be applied at that time.

B2B

– Detailed charge method for B2B certification will be provided following further updates.

The new protocols in this state also introduce revised guidelines for certification routine. The GCB will predict all licences and certificate owners  under the modern framework, ensuring they function have flexibility pertaining to corporate and certification structures.

Key updates include:

– Licences can be held by multiple accounts and UBOs.

– Each licence can cover unlimited domains.

– Licences would not be extended or renewed beyond their current terms. Licence owners must inform the GCB about their certification and transition to direct licensing under the LOK.

Important Dates:

1st January 2024:

– New Digital Seal policy will be implemented. This seal, issued by the GCB, must be included in the DNS of licensed domains. Operators must ensure compliance among sublicensees.

31st March 2024:

– Enrolling of sublicenses on the GCB portal and new first-hand certification under NOOGH will end. New submissions will be processed under NOOGH until the LOK is enforced.

Any new licence application from an entity that is not currently under any existing licence or sub licence will be processed under the NOOGH pattern. If such applications remain incomplete when the LOK takes effect, they will be treated as sublicensees.

For those holding current sublicences who obtain a new direct licence under NOOGH, their operations will transition straightly to the Gaming Control Board Curacao (GCB)  supervisory sector and will adhere to the modern certification circumstances. Ongoing contractual arrangements with lead certificate owners will be managed independently by the involved parties without GCB intervention.

These updates offer much-needed clarity for operators and suppliers either based in this state or considering the island as a capable hub. In contrast, the additional charges corresponding to the modern pattern remain somewhat unclear. The certification charge is just one part of the overall picture. We are excited to offer support for Curacao licence applications moving forward and have detailed information available for those interested in exploring this opportunity.

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