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posted 12 months ago
Online gambling is one of the most dynamically developing sectors of the entertainment industry. Operators need to choose the optimal jurisdiction for registration and licensing and comply with legal formalities when filing the documents for a Costa Rica online gambling license. Experts at SBSB Fintech Lawyers help clients with establishing an online gambling business in a given country. While this jurisdiction has certain peculiarities, the country attracts investors due to its favorable business climate and advantageous tax regime.
Costa Rica has a paradoxical situation: it is globally known as one of the best gambling jurisdictions, yet there is no control over the activities of various online casinos because there are no Costa Rica gambling laws regulating the gambling field. Nevertheless, operators legally operate, and many projects choose this country’s gambling solution.
Since there is no Costa Rica Gaming Commission to conduct licensing procedures, and there is no corresponding legislative framework for regulating gambling business, there are no specific gambling licenses. Costa Rica gambling industry operates as follows: gambling businesses are prohibited from providing services to Costa Ricans, so companies block local IP addresses. It is only necessary to register a company without obtaining any authorization documentation.
Costa Rican permits are often chosen by operators who want to enter the gambling business with minimal expenses. SBSB lawyers recommend considering this permit for projects that want to test software and game concepts among their target audience, as well as blockchain and crypto gaming projects that do not need fiat solutions. This will allow developing additional services and expanding the website’s functionality in the future.
Despite the absence of a regulator in the jurisdiction and gambling activities not being subject to licensing, operators must comply with anti-money laundering rules.
This jurisdiction is advantageous for legal gambling business for several reasons:
It is worth noting that operators registered in Costa Rica cannot conduct transactions in local banking institutions.
To obtain a Costa Rica Gaming License, SBSB experts advise adhering to the jurisdiction’s requirements:
The price of this permit depends on the project’s business model and the services the licensee plans to provide. The cost of Costa Rica gaming License Cost includes consultations, company registration, documents confirming its current status, and information about its internal structure (Constitution), as well as the development of necessary policies for the website. Contact the SBSB team, and we will provide more detailed information about the license cost.
Since 2013, the SBSB team has been helping clients successfully launch gambling projects in different regions of the world. Our experts provide “turnkey” services – from preparing a document package, opening a bank account, and registering a company in Costa Rica to comprehensive legal support after obtaining Online Gambling Licenses in Costa Rica and launching a project.
Leave an inquiry, and our specialists will be happy to provide consultations on all matters of interest!
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