Costa Rica Gambling License
Casino gambling is legal in Costa Rica, and casino operators are required to have a gambling licence to offer gambling services in the country. Casinos are not allowed to. Costa Rica Gambling Licenses Costa Rica is one of the best places to set up online casino and online gambling corporations thanks to the lack of legislation governing online gambling businesses and the excellent infrastructure in the small Caribbean nation. The Costa Rica telecommunications system employees are highly trained and multilingual. In order to start your online gambling business in Belarus, you need to: 1. Own a company registered in Belarus and having a valid license for gambling business and two years of business experience. Purchasing a share (stock) in such a company is your first step in setting up you online gambling business in Belarus.
The Republic of Costa Rica is predominately English-speaking Central American nation. Long known for its exceedingly stable democratic style of government, Costa Rica is not widely recognized as a traditional offshore financial center. In fact, county’s tax structure does not tax offshore corporate income. However, the small nation is widely known for offering a Costa Rica Gambling License.
Since the turn of the century, Costa Rica has taken more deliberate steps to attain status as a bona fide offshore financial center. This has enacting a series of laws favorable to the gaming industry, alongside banking and financial services sector legislation. In fact, at its peak, Costa Rica played host to over 300 offshore casino and sportsbook licensees
Costa Rica is an ideal jurisdiction for obtaining an offshore gambling license. Perhaps surprisingly, Costa Rica does not regulate online casinos, lotteries and sportsbooks directly, but rather requires a Data Processing License in order to operate. Accordingly, the streamlined process for obtaining a Costa Rica Gambling License is ideal for startups looking to gain a foothold in the lucrative gaming marketplace. Moreover, the lack of gaming-specific regulation makes Costa Rica extremely favorable to startup operators seeking to establish their brand in this competitive industry.
The global gambling industry generates revenues in excess of $500 billion annually. The streamlined and cost-effective process of obtaining a Costa Rica Data Processing license can grant you access to this extremely lucrative market in a matter of mere months. As an increasing number of jurisdictions begin to legalize and regulate gambling, Costa Rica nevertheless remains a premier destination for obtain an offshore gambling license.
| License | Data Processing License |
| Time to License | Approx. 2 Months |
| Capital Requirement | None |
| Tax Structure | Zero (0%) Percent Tax on Income |
- Incorporation of Costa Rica or comparable offshore corporation
- Arrange for local registered officer, local directors and local office
- Draft corporate bylaws, minutes and owner share issuances
- Establishment of corporate bank account suitable for gaming operations
- Establishment of merchant service account for accepting credit and debit cards as well as electronic money and cryptocurrency
- Draft requisite business plan, financial statements and financial projections
- Draft requisite Anti-Money Laundering & Know-Your-Customer policies
- Arrange for software providers, affiliate networks and local hosting and servers
- Prepare and process application for Costa Rica Data Processing License
- Representation before licensing regulatory authority, banks and liquidity providers
- Ongoing guidance on operational matters including license passporting
Trust our over fifty year’s combined experience in creating innovative solutions for our clients. Contact the offshore
gambling license experts at FinLaw to begin the process of obtaining your Costa Rica gambling license today.
Our knowledgeable and skilled professionals are pleased to answer any of your questions.
Call (213) 534-8656 for your free consultation or contact us here.
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.
Taxes
- Corporate Tax: N/A
- Gambling Tax: N/A
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 be setup as a gambling company and may hold a “data processing license”. To obtain this license the corporation must have a physical location in 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”.
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
What does it cost?
We can offer two types of opportunities to our clients:
- Costa Rica gambling company incorporation
- White label under our existing Costa Rica company
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
Costa Rica Gaming License
For more information:
Costa Rica Vacation
Get in touch:
FURTHER INFORMATION ON CURACAO GAMBLING LICENSES
Costa Rica Gambling License Cost
We wrote an article on Curacao Gambling License which may be of interest to you should you be looking for alternative casino licensing information.