The Curacao Gaming Commission (CGC), which is associated with the Kingdom of Netherland’s government, has become a prominent and respected name when it comes to providing iGaming license to comparatively less convenient and startup casinos. The Curacao authority is providing this iGaming license since the year 1996.
The clearinghouse and advocate of the CGC are called the Curacao Internet Gaming Association (CIGA), which was established in 2001 and now controls more than 30 online casino operators. CIGA, from its birth, is a part of the Interactive Gaming Council (IGC), and so it is bound by the organization’s code of conduct.
Jurisdiction of Curacao
Curacao was one of the oldest jurisdictions to regulate virtual gambling. Being a part of the Netherland territory and an Overseas Country, it has a special place in the European Union. Online gambling has been a valid and viable business activity in the Netherland ustand its first legislation was first formulated in 1993.
To get a license from CGC, applicants must comply with several strict guidelines and regulations set by the commission; otherwise, they wouldn’t be eligible. Other than that some common regulations that every jurisdiction demands operators to abide by, Curacao has some unique ones, which include being registered under the Netherland’s Chamber of Commerce, having the total ownership of the business, having the center of the business on the Curacao island, and many others. Applicants of the Curacao license must check that they meet all the requirements before submitting their applications.
An investigation by the authority will verify if the company falls short of meeting any of the criteria. The investigation will be conducted by the Curacao Department of Justice. It takes around 6 weeks to complete, and then the company gets its approval and a provisional license under a number of conditions, including 60,000 and guarantee money.
The master license provided by Curacao is based on the National Ordinance on Offshore Hazard Games. This license has two formats.
A master license
The master license is the eGaming company itself, and it opens the possibility to sub-license. Sub-license holders are essentially third parties who are responsible for conducting their operations being under the master license holders.