Gibraltar remote gambling license
Betting gaming license and offshore poker licenses
The Government of Gibraltar has only licensed a limited number of established operators and is not generally licensing new entrants to gambling. Licences are difficult to obtain because only applications from experienced operators properly licensed in a reputable jurisdiction, with an impeccable track record, good financial resources and a realistic business plan are considered. Furthermore the Government has not licensed companies who only wish to locate their computer servers in Gibraltar as there must be a substantial 'bricks and mortar' presence here and the whole operation managed from Gibraltar.
The starting point for an application from any prospective operator meeting the above criteria, is to present a short 2 to 3 page outline setting out the proposal and background and experience of the Company concerned. If an application were to be pursued by the Government, detailed documentation would be required along with a business plan, details and references on beneficial owners and key personnel, evidence of previous licences, expertise in offshore gaming and financial standing. The consideration of applications can take several months as a result of the extensive due diligence carried out.
The Licensee shall at all times be effectively controlled and managed from Gibraltar. The Licensee shall be required upon request by the Licensing Authority to produce lists of key personnel (with CV's or such other information as is reasonably appropriate) including shareholders, directors and executive managers involved in the management and operation of the Licensee's business in Gibraltar.
The Licensee hereby agrees that no bank account and credit card merchant account, nor the receipt, processing, holding and clearance of customer funds and credit card transactions, shall be maintained by the Licensee, in a jurisdiction other than Gibraltar or in a Gibraltar licensed institution, without the prior approval of the Licensing Authority.
The terms of any offshore gaming agreement are negotiable, however offshore licence operate on the basis that the advertising and promotion of betting services can only be directed to citizens of nations in which it is not illegal for such activities to be undertaken. Gaming tax is currently levied at 1% of turnover for bookmakers with the tax capped at Â£425,000 per annum as from 1 April 2005. The minimum gaming tax payable is Â£85,000 per annum. These figures are adjusted annually to reflect increases in the UK Retail Price Index.
With regard to internet casinos, the gaming tax is calculated at 1% of the gaming yield or profit not turnover and capped at a similar amount to the maximum cap for bookmakers. A separate licence would be required for internet casinos.
Licences are renewable annually on the payment of a fee of Â£2,000 subject to the satisfactory completion of the terms and conditions of the licence.
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