Gambling licenses in Gibraltar
Gambling licenses in Gibraltar
Local legislation on gambling is designed for gaming operators to secure tax advantage when carrying out activities and maintaining high level of reputation in Gibraltar, a jurisdiction known to be one of the most economically attractive in Europe.
Benefits
- The main advantages of obtaining a gambling license in Gibraltar include the following:
- Low taxation (for large players);
- Prestige and high reputation of jurisdiction;
- The possibility of obtaining a legal Merchant Account;
- Government guarantees for licensees.
Types of gambling licenses in Gibraltar
It is necessary to admit that any gaming activity should be licensed in a proper legal way. In this case, the judicial pratice of licensing has the option of spliting the online and offline gambling activities. The choice of each depends on the goal and financial option of money-making and how does this correlate to requires of business’ activity.
For online and physical business:
For online and physical business:
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There are four types of gambling activities:
- Casino gaming (such as slots and casino table games: roulette, blackjack)
- Betting (Sports/horse race betting, Fantasy betting)
- Lotteries
- ”Social” gaming
Only companies having impeccable reputation, gambling industry experience, a realistic business plan and license in another jurisdiction are considered eligible for a gambling license by authorized bodies in Gibraltar. Licenses in Gibraltar are often very difficult to obtain. For instance, only 34 licenses were issued on February 27th, 2019.
The licensee must ensure all promotional activities in relation to gambling activities are true and accurate. Bank account(s) and processing must be opened exclusively in Gibraltar.After the personal aimed correlation, the gambling investor needs to take the best categories for it. There are two large categories of gambling licenses - B2C and B2B. The most various versions of it are. The difference between these licenses is B2C licensed companies directly offer gambling (including online), while a B2B licensed company can develop the necessary software for B&C licensed companies and support them.
- Remote Gamng B2C Operator (online casino).
- Remote Betting B2C Operator (online bookmakers and organizations).
- Other Remote B2C Gambling Products (betting intermediaries).
- Non-Remote B2C Gaming Operator (land Casinos) (land-based casinos - slot machines and platforms).
- Non-Remote B2C Betting Operator (land bookmaker) (ground bookmaker, lottery).
- Gambling B2B Support Services.
Gibraltar Gambling License: Cost
Gibraltar Gambling License: Cost
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From 30,000 British pounds (depending on the type of gambling and structure of the company).
If there are several types of online gambling on the website, you must obtain a license for each class. In this case, the cost of the whole range of services is discussed individually.
Taxation
Taxation
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The tax on gambling in Gibraltar is only 0.15% of revenue.
A gambling company with a B2B license must pay £ 100,000 annually as a license fee, regardless of income.
A gambling company with a B2C license must pay £ 75,000 annually as a license fee, regardless of income.
Requirements for B2B and B2C licenses:
Requirements for B2B and B2C licenses:
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- The real presence of the company in Gibraltar (office, directors are located in Gibraltar)
- Impeccable reputation of shareholders and directors,
- Proven experience in the gambling industry,
- A license in a jurisdiction other than Gibraltar
- Open bank accounts in Gibraltar
- Fully paid duty (£ 100,000 for B2C, £ 75,000 for B2B).
The necessary documents for a license
The necessary documents for a license
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In addition to the entire package of necessary corporate documents, the future licensee must provide:
- A copy of the gambling business license and financial reports from other places of business,
- Confirmation of financial solvency (both of the founders and beneficiaries, as well as the sufficiency of the company's funds),
- Identification documents (passport, data from fiscal authorities) and verification of the addresses of owners, founders, directors and authorized persons.
- Confirmation of the authenticity of all these persons (letters of recommendation from banking, financial or other institutions that regulate gambling business).
- Availability of documents confirming the ability to pay out any possible winnings (providing copies of the payments made to the winners).
The process of obtaining a license
The procedure for obtaining the desired license consists of four stages. The recipient must spend from 14 to 90 days to complete all procedures, depending on the license type and the period of document verification by the operator.
Each future license holder must pass:
- The procedure for registering a company in Gibraltar.
- The appointment of a regional authorized company (with a passport or place of permanent registration of jurisdiction);
- Creating a business plan and investment plan in the gambling business;
- Period of inspection of equipment for business;
- Obtaining permission from Gibraltar officials;
- Collection and submission of necessary documents for obtaining a gambling license.
Law and Trust International does not only offer consultations, but also helps with legal, financial and documentary support for obtaining the desired gambling license. Our specialists are ready to help you in any particular case and also provide services as a “turnkey license”, i.e. complete registration and receipt of a gambling license in Gibraltar.
Our clients
Our team
Victoria Zhelezova
Branch Director, HR
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Dariia Grib
Legal secretaries & Receptionists
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