Gambling License Costa Rica
A gambling license in Costa Rica The jurisdiction of Costa Rica is not considered an offshore zone for registration of certificates for a particular field of activity, but this does not prevent the state from gaining popularity among non-resident entrepreneurs. An online gaming company can provide gambling from Costa Rica and offer payments and deposits in cryptocurrency. Once the concept of the platform has been proven and any issues have been ironed out, the operator can proceed to acquire an actual license from a jurisdiction such as Curacao, Kahnawake or Malta to operate in a fully licensed manner. The license in Costa Rica will allow your company to conduct legitimate business in the field of virtual gaming services. The legislation of Costa Rica that regulates activities of the companies providing gambling services is one of the most liberal in the world.
Requirements for Costa Rica Gaming License The license from the Costa Rican government for the running of an online gambling institution can be obtained by paying a fee of $15,000. This is the basic fee required to obtain a license, but the institution will have to come up with a $1,500 fee in each quarter to keep the license active. What do you know about Costa Rica as an online gambling licence provider? All the important information about Costa Rica licensing.
Poker Licenses, Sportbook Licence, Lottery and Gaming Licences in Costa Rica
It is permitted for businesses to conduct this activity in Costa Rica but you will need:
- A Costa Rican Corporation
- Registration with the tax authorities - Administración Tributaria
- A commercial license, which we obtain from the local government authorities
These gambling corporations work under a commercial license which can be obtained; Slogold will register the corporation and obtain the permits in all governmental institutions required, and fulfill any other specific requirement.
Once this is done we obtain the legal gambling license in the name of the corporation so the client is sure that his company will have no impediments to develop the intended objective.
Having a gambling license also helps corporations reach intended objectives without impediments along the way. To this end, most corporations set up in Costa Rica obtain a license.
In order to create a corporation in Costa Rica that will allow for licensing, it must deal in network administration or internet administration. All internet addresses from Costa Rica must be blocked from the server, since it is Costa Rica's strict policy that none of their citizens participate in online gambling. One must also create an offshore merchant account to deal with the transactions.
Due to the lack of legislation and oversight for online gambling, companies based in or registered through Costa Rica are not subject to monitoring or other regulations that many offshore companies are. This also means that since there isn't a body to govern gambling, companies are self-regulated and aren't required to pay betting or gaming tax.
Costa Rica Wikipedia
Costa Rica is a rugged, rainforested Central American country with coastlines on the Caribbean and Pacific. Though its capital, San Jose, is home to cultural institutions like the Pre-Columbian Gold Museum, Costa Rica is known for its beaches, volcanoes and immense biodiversity. Roughly a quarter of its area is made up of protected jungle, rich with wildlife including spider monkeys and quetzal birds.
Costa Rica Travel Warnings
Taxes
- Corporate Tax: TBA
- Gambling Tax: TBA
Who manages E-Gambling in Costa Rica?
Online Gambling Companies are self-regulated. Because there is no official organization to recognize license holders, there is no betting or gaming tax.
Overview
Due to the lack of legislation and oversight for online gambling, companies based in or registered through Costa Rica are not subject to monitoring or other regulations that many offshore companies are. This also means that since there isn’t a body to govern gambling, companies are self-regulated and aren’t required to pay betting or gaming tax.
Costa Rica is a popular place to establish online gaming business. Although there is no specific gambling license for gaming activities, corporation may execute online gambling or online casino activities under a “data processing license”. To obtain this license the corporation must have a physical location in Costa Rica.
Gambling License Costa Rica
The license indicates only that the company is able to process data. This is so because there is no specific gambling license in Costa Rica, so all corporations that conduct gambling activities use this “data processing license” or most recently some of them operate using a “marketing license”.
Gaming License Costa Rica
In order to obtain a license in Costa Rica the company must have an office in Costa Rica.
There are two gambling license options:
1. Permanent: This option is used when you need to keep the license permanently up to date. In this case the leasing of the office should be paid annually to keep the office space.
2. Temporary: The same license as in the permanent case, but once the license is issued the client does not rent the office space anymore thus saving the expenses. The office is leased for six months only in order to obtain the license.
Minimum Share Capital for an iGaming Company:
A minimum of 25% of the issued capital must be paid up on incorporation
Licence Fee:
Licenses are only required for land-based operations; i.e. if the corporation has an office within the country.
In order to acquire a license, power of attorney authorizing Costa Rican staff to do the processing is needed. The price of a permanent license is $5,000 USD in legal fees, $500 for administrative and legal costs, $3,600 for yearly lease, and $5,000 for renewal at the end of the year. Temporary licenses are also available, costing similar amounts. Administrative and legal costs are $500, legal fees $5,000, yearly lease $1,200, and a $2,000 renewal fee at the end of the year.
Licence Length:
One year
Reporting Requirements to Regulators:
Costa Rica does not employ a body which oversees the online gambling operations in business there. As a result, there is no regulatory authority, neither is there any third party for players to turn to, should they encounter a problem with one of the casinos based there
Anti-Money Laundering Policy:
All operators must comply with AML legislation in force
Contact Details:
Costa Rica Commerce
Industry and Economy Ministry
Edificio del IFAM
San Jose
Costa Rica 10216-1000
Telephone: +506 235 2700
Website: www.meic.go.cr
Email: uie AT meic.go.cr
Online casinos licensed in Costa Rica
10xaction.com
123 Vegas Win
123Bingo Online
1S Poker
1Spin.com
21 Dukes
3PigsCasino
5Dimes Casino and Sportsbook
724Sports.com
777 Kazino
7Reels Casino
7Spins
95fun.com
ABC Islands Casino and Sportsbook
Ace Live Casino
For more information:
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FURTHER INFORMATION ON CURACAO GAMBLING LICENSES
We wrote an article on Curacao Gambling License which may be of interest to you should you be looking for alternative casino licensing information.