Costa Rica is a small country in Central America, but it has the richest flora and fauna. ¾ of the country’s territory is covered with subtropical forests, mountains and volcanoes. Two largest oceans wash the country from the west and east, the Atlantic and the Pacific.
That is why the main source of revenues for this country was tourism. The country has world-famous beaches, as well as extensive rainforests with so many animals that it all reminds of Noah’s Ark. 26% of the country’s territory are protected nature areas. Tourists from around the world visit Costa Rica to immerse in its natural beauty and rich history.
Perhaps thanks to this, the policy of international neutrality has been pursued here for many decades. Costa Rica is a democratic and peaceful country that has had no army since 1949 (!). Public order is maintained here by the police. It should be noted that it is doing a good job, as Costa Rica has one of the lowest crime rates in Central America.
Costa Rica is also an attractive country for investment, and offers an excellent potential for establishing large multinational companies thanks to the high educational level of its population, as well as high standards of modern services, social and political stability. In recent years, the government has also contributed to the country’s industrialization and environmental tourism, seeking to move away from the traditional timber production and export business.
It should be also noted that Costa Rica is a full member of the World Trade Organization (WTO), which allows for cooperation with many European countries and the United States.
Costa Rica is also known in the gambling industry for its liberal attitude to online gambling operators in the region. Despite the fact that they have very few specific laws regulating these activities, there are no bans on this type of business either. That is why many companies famous across the world obtained gambling licenses in Costa Rica.
In addition to the attractive costs of opening a company here, and the non-existence of income tax, another important advantage of obtaining a gambling license in Costa Rica is the possibility of further opening of a trading account in the country (merchant account) in order to carry out settlement operations with European countries.
The Government of Costa Rica offers casino operators, software suppliers and service providers in the gambling industry a license that allows them doing casino, lotto and other gambling-related business. The Costa Rica Gambling License has become one of the most popular licenses for online casinos around the world.
The Costa Rica Gaming Law allows companies to have a gambling license and gambling web-sites in accordance with current legislation on online gambling. Due to the large number of gambling web-sites based in Costa Rica, a separate license for Internet gambling was introduced. Thanks to the advanced legislation and liberal attitude of the Government to this type of business, Costa Rica has become one of the best places to establish online casinos and online gambling corporations. The country has long been a major center for online gambling, poker and sports betting.
Some of the largest and most successful gambling industry players are currently located outside Costa Rica. Costa Rican infrastructure offers a wide range of services for operators and online gambling providers, such as private cloud services, dedicated specialized servers and other hosting options. Costa Rica has long been recognized as one of the most preferred destinations in the world for online gambling operators.
This success was achieved with a combination of factors such as an advanced legislative system, political stability, first-class telecommunication facilities and a well-developed financial services industry. In Costa Rica, there is a huge range of gaming sites, including sports betting, casino, poker, bingo and many more.
Costa Rica Online Gaming Laws
Compared to other types of business, the gambling license issued in Costa Rica is considered simplified in terms of rules and regulations. In this regard, the country is one of the most attractive jurisdictions in the world for companies providing virtual gambling services. All these companies operate under either license:
- a data processing license that is issued by the local regulatory authority,
- a license for virtual gambling services issued by the National Registry of Costa Rica.
The company is allowed to gamble directly in Costa Rica, provided that it obtains a license for data processing from the local authorities.
However, the liberal attitude to gambling in Costa Rica does not mean overindulgence. The National Anti-Money Laundering Regulations, the Unusual Transactions Act, the Counter-Terrorist Financing Regulations and the Know Your Client Policy that apply to all Costa Rican gambling companies without exception, are in place. As part of its duties, the local regulator monitors the gambling business and services to ensure that they operate in full compliance with the standards and regulations of the Costa Rica Government.
Compliance audits are carried out on a regular basis. In order to ensure compliance with the terms of the license and local laws, companies involved in this industry regularly conduct compliance audits to ensure compliance with any and all Costa Rican laws.
Licensees shall keep a full control log for each player who makes a deposit to the operator, including financial transactions and individual bets. Gambling systems, including internal software logs, shall be available to third-party authorized auditors. The rules of the game, the result of the game and the amount of all payments should be available to the local regulatory authorities within five years. In addition, we should bear it in mind that only non-residents of Costa Rica over 18 years can participate in online games. Operators must decline the bets made by Costa Rican residents or persons under 18 years of age.
How Do I Start a Gambling Business in Costa Rica?
When starting a gambling business, first of all it is important to think about one of the most important procedures, namely, incorporating a company in Costa Rica and obtaining a license of the appropriate type. Gambling license in Costa Rica gives each licensee many opportunities and makes their business profitable.
The main conditions for obtaining a license in Costa Rica, that attract owners of gambling business on the Internet, are a relatively low cost of the license and the absence of income tax, which distinguishes this destination from other countries. Licensed gambling companies in Costa Rica may qualify for tax exempt status, i.e. they do not have to pay income tax.
Moreover, Costa Rica does not apply VAT or other sales taxes, and there are no other taxes or fees to be paid when organizing gambling.
Costa Rica enjoys excellent political stability, first-class telecommunication facilities and a well-developed financial services industry. In addition, the country maintains an attractive environment for international online gambling companies. Gambling license of Costa Rica is recognized in many countries around the world. Therefore, having received it, you will have a large audience of potential customers.
Gambling Licensing in Costa Rica
In order to obtain a license for gambling business in Costa Rica, you should apply for it. The decision of approving your application will be made by the local regulatory authority based the documents prepared by our experts.
Costa Rica issues a single license for online gambling which covers all gambling operations. For example, this license covers gambling service providers, network operators, their affiliates and even gambling software developers, which is a separate area of the gambling business.
Having a gambling license of Costa Rica, online gambling companies can operate legally in most countries of the world. Each applicant undergoes a rigorous evaluation process to ensure that licenses are only issued to those applicants who can demonstrate sufficient financial standing and integrity to maintain Costa Rica’s international reputation as an online gambling center.
If something does not meet the requirements, the local regulator will provide a checklist of necessary improvements. The Costa Rica Gaming License covers all forms of online gambling, including casinos, eSports, poker, sports betting, lotto, bingo, horse racing, bitcoin, fantasy sports, agility games and other gaming activities, with no requirement of obtaining separate licenses for each of these segments.
Gambling license of Costa Rica is officially valid in all countries of the world. It is another thing that some countries do not think so. Still, most countries respect this document and do not prevent companies from working on its basis in their territories.
How Do I Get a Gaming License in Costa Rica?
In order to obtain a gambling license from the local regulatory authority, certain strict rules must be followed. To apply for an online gaming license in Costa Rica, you must incorporate your company in Costa Rica. Then the process of licensing your gambling business in Costa Rica will begin. In order to protect your online gambling license in Costa Rica, our experts will work closely with the authorities of Costa Rica to comply with the Due Diligence Policy as well as the Know Your Customer (KYC) Policy.
In addition to the complete identification of the ultimate beneficial owner (UBO), a detailed and transparent description of all games offered to clients will also be required.
As a final step before obtaining a gambling license, you will need to receive the special state-offered equipment for the transit server that will transfer all the data from your gambling project to Costa Rica for control.
In addition, you will need to have equipment based in Costa Rica directly. At least this should be done to store your client database directly on the local server in order to meet the permanent representation requirements.
For this reason, Costa Rica offers a range of reliable and recognized hosting service providers specifically tailored to the complex needs of the e-gambling industry. A gambling license in Costa Rica may only be issued after all the above requirements have been met.
As you can see, the standards for gambling licenses in Costa Rica are very high. That is why its quality practically does not cause any complaints from regulatory authorities of other countries.
Our experts will help you successfully comply with all the requirements, and will offer reliable and flexible solutions to meet your needs.
When placing an order for the gambling license in Costa Rica, you can choose the number of founders of your gambling company.
Specifically, it will be necessary to prepare the following documents for each of the founders:
- a notarized passport copy;
- a notarized copy of the paid utility bill from your place of permanent residence, issued not later than 2 months before the date of application;
- CV of the founder;
- reference letter from a bank.
In some cases, additional documents may be required. The processing time for incorporating and licensing your online gambling company varies from 2 to 4 months.
This means that you will have enough time to develop your gambling business if you start the licensing process right now.
After obtaining a gambling license in Costa Rica, you will need two basic banking services, a trading account and a corporate bank account which are convenient for gambling companies.
Opening and managing a gambling trading account and a company bank account for an Internet gambling company may present certain unique issues. Financial institutions and banks tend to complicate the process of opening accounts for gambling companies. Our experts offer a full range of solutions for gambling companies licensed in Costa Rica.
Licensing and Incorporation of a Gaming Company in Costa Rica
Applying for an online gambling license in Costa Rica includes several procedures involving the local authorities. Our experts will also take the responsibility for incorporating your gambling company, preparing all the necessary documents including notary services, corporate documents, paying of government fees, administrative fees, due diligence fees and apostille fees for corporate documents, as well as for registering a legal address in Costa Rica, filing a license application and preparing a business plan.
You should also know that the cost of obtaining a gambling license in Costa Rica depends on the number of founders. Once we incorporate your company in Costa Rica, we will be able to provide all the ongoing professional support necessary to maintain its high reputation.
We will simplify the whole process without any hidden costs, so that you will be able to choose the best option for your needs and know exactly what the total cost will be before you start applying for a company incorporation and licensing.
The procedure of obtaining a license for gambling on the Internet varies from one country to another, but the general algorithm is as follows. We incorporate a new company in the jurisdiction of your choice, then begin the process of obtaining a gambling license for the newly founded company. Once this license can be issued in the name of an offshore company, the Government, or the public archive, will no longer have access to the names of the beneficiaries.
That way, it is possible to maintain the anonymity and confidentiality of the company owners from the general public, which have been licensed in most offshore countries where we operate. There is no doubt that gamblers are flocking to online gambling sites in record numbers from around the world. The possibility of placing bets quickly, safely and easily makes offshore casinos a very popular type of business.
As you probably know, many countries offer licenses for online gambling. The number of these enterprises is growing rapidly all the time as more and more countries realize the economic benefits of opening their doors to foreign investors. Our experts can provide legal assistance in the preparation of you application and accompanying documents, as well as in the preparation of your business plan, and professional advice throughout the gambling license application process.
We understand that choosing the country where your gambling web-sites will be based is a difficult task. If you are not sure which jurisdiction best suits your needs and budget, please do not hesitate to contact us and we will help you make the right choice. Our main task is to help you build a long-term business, and our only goal is to meet your needs for an Internet gambling license, protecting your interests.
We guarantee that our clients can work in the most efficient way from the taxation point of view while maintaining the appropriate structure and legitimacy of their business. The duties of an offshore gambling company are often complex and require careful consideration. But we will help you in finding the best solutions.
Professionalism and complete confidentiality guaranteed.
