Where can I get an online gaming permit?

Since gambling is gaining more and more popularity, many are trying to invest their capital in this area of activity. It is due to the stability of income even during periods of economic crisis. We will look at the best countries for receiving an online gaming license.

Gambling business and permitting

To operate gaming projects legally, you need to obtain a special permit – a permit. Many countries issue such a document, and choosing favor of one of the states can be tricky. Therefore, when choosing, it is essential to pay attention to many aspects that will affect the start of the activity and the business in the future. We list the main elements when choosing a jurisdiction:

• stable politics and economy;

• regulatory demands;

• costs;

• terms;

• tax policy for the gaming business.

The main thing is to decide on your priorities – for example, what is more critical for you to obtain a permit faster or to do it at minimal cost. Taxes are also necessary, which will subsequently significantly affect the size of your profit.

Most favorable jurisdictions

Let's list some jurisdictions where obtaining a gambling permit will have several advantages.

Malta

This permit is not the cheapest (€25,000) (compared to Curacao or the Isle of Man) and has strict legal requirements. Therefore, registration can take approximately 5 months. But its validity period is 10 years. But for large investors, such permitting will be an ideal option, especially since this jurisdiction is considered one of the most prestigious in the world. Thanks to respect for such permission for gambling projects, it will be possible to attract a considerable user audience who value the high reliability of the platform and the fairness of the outcome of the games. The tax program allows gambling projects to reduce the rate to 5%, so it is a very profitable choice in terms of financial profit.

Malta is a member of the EU and has a stable political and economic environment for developing financial business. In addition, such a permit excludes double taxation (more than 70 agreements have been concluded). The prestige and worldwide recognition of such permitting allow you to enter the international market and achieve financial success successfully. The presence of developed infrastructure and active government support make this Maltese permit the best choice for large investors.

Isle Of Man

The Isle of Man authorities are the most liberal about the gaming business and have developed favorable legislation. Therefore, the state has created an ideal environment for developing the gambling business – innovative telecommunications are among the best in the world. This permit also has a high reputation among gamblers and attracts new platform players annually. The period is 5 years and includes various gambling games. The tax policy is more than attractive: from 0.1 to 1.5% is taken from gross income, and there is no corporate tax, capital gains tax, or VAT. The licensing period is relatively short and is 3 months. Such a permit will allow you to enter the international gaming industry market, significantly expanding your scope of activity and increasing profits. Since the Isle of Man is an active gaming business, among the local population, it will be possible to find experienced gaming employees who also speak English.

Kahnawake

For almost 25 years, Kahnawake has been issuing gaming licenses. Ensuring a high level of reliability attracts a considerable number of gamblers to such licensed platforms. The application is reviewed in no more than 3 weeks, and activities can begin in 1.5-2 months. It is fast compared to other jurisdictions. Legislative demands are simple, so they will not cause any difficulties when obtaining a license for online games. Because Kahnawake has strict security regulations, the project will be protected from financial scammers and cybercriminals.

Kahnawake is perfect for newcomers to the gambling industry due to its quick start and low costs: applying will cost 15,000 USD, and another 5,000 USD will be required to permit a key person. The annual license fee is 10,000 USD, but if you are denied licensing, this money will be returned to you. It is worth noting that corporate and gross income are absent. And this is a significant profit saving.

In the end

We examined only three of the most favorable jurisdictions for licensing the gambling business. But others that should be considered are Curacao, Estonia, and Panama. It is recommended to study all legal and financial demands and then make the right choice. Set priorities, and the ability to fulfill all conditions, and then the choice of country will become apparent. The success of licensing and the development of your business will depend on the right choice.