Curacao’s Minister of Finance Announces New License Fees

At the start of September, Curacao initiated its updated application process for online gambling licenses, reaching a critical milestone in the island’s strategy to improve the legitimacy of its online gambling industry.

Now, according to reports from iGamingBusiness, Curacao’s Minister of Finance, Javier Silvania, has officially announced the new fees that gaming operators looking to obtain a license will need to pay under both the current regulations and the soon-to-be-implemented National Ordinance for Games of Chance (LOK). 

Current VS New Types of Licenses 

According to the current legislation, licenses are not split into business-to-business and business-to-customer licenses. Instead, they are classified as a single type of license. 

Gaming operators who wish to obtain this unique license that features up to 40 different domains are not required to pay any fee. The annual fee for the same license is set at ANG36,000 ($20,090). The monthly fee is set at ANG7,000 ($3,884). 

According to the upcoming LOK draft aimed at business-to-consumer licenses, operators will need to cover a license application fee of ANG9,000 ($4,993), along with one-off due diligence fees ranging between ANG250 ($138) and ANG500 ($277) per person. 

The actual amount of due diligence paid will depend on the role of each person.

As for the new monthly fees, they have been set at ANG4,000 ($2,219). The annual fees announced by Minister Silvania are ANG48,000 ($26,633). 

Business-to-consumer licenses feature an unlimited number of domains. A total of ANG500 ($277) must be paid per annum. 

Rules for Operators Making the Switch 

Operators that will come in under the new LOK from the current legislation part of a direct license will not have to pay the ANG48,000 ($26,622) fee once the new law is passed. 

Instead, the fee will be due on the first anniversary of their license. Starting then, the amount of the monthly fee will be decreased from ANG7,000 ($3,884) to ANG4,000 ($2,219).

Also according to the upcoming LOK, all entities need to hold a business-to-consumer license. The list includes companies that directly interact with players and companies facilitating business-to-consumer operations via player data and funds. 

Similar fees will be practiced for new business-to-business licenses under the LOK, with an application fee of ANG9,000 ($4,993), along with the same one-off due diligence fee per person as the one for business-to-consumer licenses.

B2C annual fees have been set at ANG48,000 ($26,633). B2B licenses will not incur any monthly fees. At the same time, no domains will be applicable in this instance.