Renowned gambling industry expert Dragan Sutevski, PhD, and founder of Sutevski Consulting reveals the top countries where launching online casinos for foreigners is a breeze.
As asserted by Dragan Sutevski, in the 21st century, online casinos emerge as the ideal option for startups resilient against economic downturns, pandemics, and social challenges that impact traditional businesses significantly.
Attention is directed to the states that have already become places that are attractive for organizers of gambling establishments and carry minimal risks for them. As already mentioned, the expert names six such places.
Setting up a new online casino finds favor in Scandinavian countries. At the top of this list is Sweden, boasting a multitude of iGaming companies with strong Swedish roots and a firm commitment to ensuring player safety.
The fact that Gibraltar is in such a high second place is far from coincidental. Every tenth worker from Gibraltar has something to do with the gambling industry here. Applying and customizing here is simple, although it is all done with care.
Applicants in Gibraltar don't face application fees but must showcase robust security features from reputable sources. Moral integrity is a mandatory criterion for majority shareholders or board members to obtain a license.- The country is also generous in taxation. Subject to registration in Gibraltar, companies pay only one percent of profits earned with a maximum amount of around half a million pounds sterling.
Cyprus is simply a unique addition to the list under consideration, as engaging in gambling in the country is quite difficult, and most often illegal. At the same time, the state allows obtaining a license and managing online casinos, but with the condition that gambling establishments are not accessible to the local public.
To become potential operators, they must pass standard checks and obtain approval from the Cyprus Board, along with paying the following fees:
Operators must possess a Cypriot bank account for betting activities on their platforms. While separate accounts for expenses and company are permitted, the payment account must be a Cypriot account.
The Isle of Man provides unmatched access to the thriving UK online gambling market, making it a preferred choice among experts and practitioners. It offers three online gambling license options:
The choice of license type is influenced by the objectives and needs of the gambling company.
There is no corporation tax in the Isle of Man. A 1-1.5 percent tax is levied on gambling revenues depending on success.
Antigua and Barbuda in the Caribbean are often recommended by experts as ideal locations to establish online casinos. However, it's worth noting that licenses for gambling activities on the Internet here can be relatively expensive.
Avoiding large start-up costs is achieved by the fact that clever organizers choose Curaçao, which is an island state within the Netherlands Antilles. Curaçao has a paltry corporate tax rate of two percent and no high rate taxation.
In terms of time, registration takes place over a period of about six months. A $2,300 registration fee will have to be paid to the organizers, as well as a $1,700 monthly fee.
Located in the Mediterranean Sea, Malta serves as a gateway for new online casinos to Europe. As a member of the European Union, it offers access to the European gambling audience. Starting an online casino here involves relatively low start-up costs, depending on the chosen license type.
Applying for a license in Malta requires a one-time fee of $2,700 and an annual online casino operation fee of about $9,800.
Experts have named six countries that will bring the greatest success for business. Everyone is free to decide for themselves. This is just an expert's point of view, which may help you make the right move.
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Author: James Hatbill
