Curacao Master Licences to be Extended with 1 Year

Q: What will change with the new Curacao licensing process?

So far, gambling operators had to apply for a sub-licence from one of the four master licence holders. As of 1st September 2023, the Curacao Gaming Control Board (CGB) will be issuing new licences to operators directly . This is the main difference you can expect from the regulator.

Q: Is the Curacao licensing process trustworthy?

Yes, it is. The Curacao Gaming Control Board is a trusted regulatory body in the industry . Some of the best real money online casinos worldwide hold licences by the CGB. With the latest changes to the regulations and standards, you can rest assured that Curacao licensees provide a safe gambling experience.

July 27, 2023 Tony Christopher

In July 2023, the legal advisor to Curacao’s finance ministry announced that all Curacao master licences would get a 1-year extension. This comes in light of the upcoming changes to the jurisdiction’s licensing regime for foreign operators. Read the full article to learn about the new regulations entering into effect on September 1st, 2023.

Curacao Master Licences Will Get a 1-Year Extension

Within that 1 year, operators will have time to apply for the new Curacao gaming licence. The changes come as a result of the National Ordinance on Games of Chance (LOK) bill approved by the Curacao Council of Ministers. The updates are set to make the regulator’s licensing process stricter.

New Curacao Gaming Control Board Licences

The Curacao Gaming Control Board (GCB) is known as one of the more liberal gambling regulators worldwide. Currently, foreign operators must apply for a sub-license from any of the four Curacao master licence holders. The idea behind the new legislation is to change this process altogether. As of 1st September 2023, the CGB will be issuing licences to operators directly.

To guarantee consistency and a smooth transition, the regulator has ensured that all Curacao master licences will get a 1-year extension. If any of the best online casino sites is unwilling or unable to switch to the new licence within this time, they will, unfortunately, be suspended from the market following the expiry date of the master licence.

How to Apply for the New Curacao Licence

The application process for a new Curacao licence is relatively simple and easy. You must submit three forms – online gambling application, personal declaration, and corporate disclosure. As you will see in the list below, these forms include a comprehensive check of the applicant’s business.

Online gambling application – This includes an analysis of the applicant’s business operations. You must submit information about marketing, distribution strategies, and growth targets.
Personal declaration – The applicant must identify any person with a minimum of 10% business control. You must submit information about sources of wealth and funds and verifiable identity information.
Corporate disclosures – Licences will be issued to Curacao businesses only, so applicants must submit the details to the Curacao Gaming Control Board (CGB).

When the National Ordinance on Games of Chance (LOK) legislation enters into effect, you will have 90 days to submit your application for the new Curacao gaming licence. During the application period, the old regulations will remain valid for up to nine months after the LOK implementation.

Highlights of the New Licensing Regime

Within six months of its Curacao licence being issued, every operator has to submit audited policies and procedures for evaluation by the regulator. The new CGB licensing regime will focus on international quality standards, including responsible gambling, player protection, anti-money laundering, KYC checks, etc.

FAQ

To summarise, all Curacao master licences will get a 1-year extension following the latest changes in the licensing regime of the gambling regulator. Within this time, operators must apply for a new licence to continue providing their services to players. Here’s a short FAQ section with the most common questions on the topic.

1️⃣ Will the master licences get a 1-year extension?

Yes, under the latest changes to the Curacao gambling regulations, master licences will get a 1-year extension. Within this time, operators are expected to apply for a new licence from the Curacao Gaming Control Board (CGB). If you fail to do that, your business will be suspended following the master licence expiry date.

2️⃣ How can I apply for the new Curacao gaming licence?

Operators that want to apply for the new Curacao gaming licence will have to submit three separate forms – online gambling application, personal declaration, and corporate disclosures. They include detailed information regarding the applicant's business operations, growth targets, key people, marketing, and more.

3️⃣ What is the goal of the new Curacao licence regime?

The Curacao Gaming Authority is known to be less strict than other regulators in the gambling industry. The goal of the new Curacao licensing regime is to change that. The focus will be put on responsible gambling, player protection, anti-money laundering, KYC checks, and more. These are the highlights of the Curacao licensing process.

4️⃣ What will change with the new Curacao licensing process?

So far, gambling operators had to apply for a sub-licence from one of the four master licence holders. As of 1st September 2023, the Curacao Gaming Control Board (CGB) will be issuing new licences to operators directly. This is the main difference you can expect from the regulator.

5️⃣ Is the Curacao licensing process trustworthy?

Yes, it is. The Curacao Gaming Control Board is a trusted regulatory body in the industry. Some of the best real money online casinos worldwide hold licences by the CGB. With the latest changes to the regulations and standards, you can rest assured that Curacao licensees provide a safe gambling experience.