Eternity Law International News UK gambling license

UK gambling license

Published:
January 27, 2020

Operators in Britain, whose purpose is to provide users with gambling services, must obtain a gambling license in the UK – permission to conduct such a business.

It is issued by the British Commission, which controls the sphere of gambling. The organization issues warnings to unlicensed operators who give access to games to UK citizens, as it is an offense by law.

To legalize the status, an application is submitted to the commission for consideration. An officially certified consent may apply not only to one game, but also to a complex of casinos, bets, lotteries.

If fewer than three people are involved in the gambling business, then they pass the Annex A form and enjoy the benefits of a small business team. Although most often they are not licensed by the commission as small-scale. A separate license is required for spending over EUR50 thousand per year for software development.

Issuance process and cost

Payment for the service for granting an activity permit is carried out immediately after the application is filed. Further, every year within a month after the issuance of the license, another fee is paid. Primarily, the commission examines people who take part in business for a criminal record.

Applicant operators must provide a well-developed business plan, which will indicate the estimated turnover of money and ways of financing the operator. Everything is required in order for the commission to make sure that the applicant does not go broke and the users’ finances are not at risk. Also, the plan should indicate where the equipment will be located.

The license is issued on average after 4-8 weeks from the filing of the application. Although the preparation of a competent application itself also takes a lot of time. After receiving the application, the organization undertakes to follow all the conditions and warn about any facts that relate to changes in the composition of the company and information about the owners.

Safety checks are carried out annually.

Eternity Law International will provide the necessary legal support. The company has been working in the gambling market for a long time and has vast experience in this area. Free consultation of professionals, general recommendations for doing business, sale of gambling licenses are services that the company’s employees provide without problems.

You could be interested

Company Purchase in the USA: A Guide for Aspiring Entrepreneurs

The idea of purchasing a company in the United States is a prospect that has attracted entrepreneurs from across the globe. The U.S. economy, known for its resilience and diversity, has long been regarded as fertile ground for businesses to flourish. In this article, we’ll explore why buying a business in the U.S. can be...

Cyprus Investment Firms (CIF) Licensing

In Cypriot jurisdiction, highly popular mechanisms for investors are firms dealing with finances. Here, a local financial institution principally engaged in holding, managing and investing securities (shortly, CIF) falls under mandatory supervision executed by CySΕC. This is enforceable in line with terms stipulated by Law 87(I)/2017 referring the delivery of services in terms of investing,...

Ukraine joins the European Blockchain Partnership

Aiming to merge its digital financial sector with the EU, Ukraine is expanding its blοckchain collaborations with other jurisdictions: as recently informed by authorities, Ukraine joins the European Blockchain Partnership in June 2022. A 3rd non-EU nation to obtain a membership in EBP Ukraine has now a new status of the 3rd nation outside the...

Top 5 Best Jurisdictions for SPI license

When planning their trade, corporate co-founders actively look for places where they can open a legal entity and it’s easy to get a license to start your own payment business. To do this, they actively study the laws of the countries study their economic performance, and the requirements of local regulators. If co-founders decided to...

Ready-made company in Romania

The nation has undergone several reforms to facilitate commercial operations and draw international investment since entering the European Union. Romania is therefore one of Europe’s most promising countries for foreign investors, while many other customers prefer quicker transactions and the purchase of ready-made businesses. What is a “ready-made” company in Romania? When someone has a...

The requirements for registering and getting permission to open a small alternative investment fund

Alternatives are becoming core in the investors` portfolios. One of them is a mutual fund called a small alternative investment fund (further mentioned as SAIF). This collectively pooled private financial tool gathers the investors` funds aiming to contribute the gathered mutual funds in line with the predetermined investment policies drawn up for the sake of...
Fill the blank:

Zurich

Dreikonigstrasse, 31A, Stockerhof

Kyiv

Baseina street, 7

London

Grosvenor Gardens, 52

Washington

1629 K St. Suite 300 N.W.

Vilnius

Gediminas Avenue, 44A

Tallinn

Kesklinna linnaosa, Tuukri 19

Edinburgh

Lochrin Square, 1

Nicosia

Jacovides Tower, 5 floor

Riga

Esplanade, 7 floor

Hong Kong

18 Harbour Road, 35/F, Central Plaza, Wanchai

Singapore

Level 42, Suntec Tower Three, 8 Temasek Boulevard

Sydney

20 Martin Place

Porto

2609 Avenida da Boavista
Calls are made only from Portugal

Tbilisi

Revaz Tabukashvili Str., N 45, area N 7