Belize gambling license: terms, benefits and cost
If you want to run a successful gambling business for many years, you will not be able to do it without a special permit. You can get it in one of the most popular offshore countries: Curacao, Gibraltar or Malta. But there are other jurisdictions, permits of which have several hidden benefits. One of them is the Belize gambling license.
In this article, we will describe the advantages of the Belize license and what do you need to obtain it.
Already at the planning stage, it is extremely important to find out what this or that document can give you, and among all the options, to choose one, which is suitable for your plans of the business development.
If you need any help ― it is always possible to ask managers from Gaminator all questions that you have. From us, you can order a turnkey online casino with the Belize gambling license. Find out about all the requirements and cooperation conditions right now.
The Belize license
Belize is a state in Central America that is part of the Caribbean Community. In recent years, it is considered a rising financial centre, offers excellent conditions for doing business, and is popular with businessmen from Canada, the United States, and the United Kingdom.
Belize has long been under the British colony, and English here is the state language. Therefore, the registration of legal documents does not present challenges. Moreover, since 1990, Belize has been an offshore country. And it is one of the main reasons for the popularity of this jurisdiction.
Belize has issued permits for gambling since 1995, and licenses for online projects ― since 2004. That is, this state has become one of the pioneers in the registration of gambling activities.
Today, there are loyal conditions for obtaining the right to conduct casino business, no taxes, and the quick completion of all documents. For this reason, it becomes more and more popular to obtain a Belize gambling license.
The Belize license: how to get it?
This permit is highly valued in the market: for its acquisition, you need to fulfil a number of requirements, which means that only serious entrepreneurs will receive such certificates.
It is worth noting that the investment of time and effort that you need to make to obtain a permit in Belize pays off with interest. Software vendors always like to cooperate with a casino that has the Belize license, and players also trust in this permit and make deposits without fear.
Types of the Belize gambling license
As in many other jurisdictions, Belize’s permit is issued depending on the type of activity that a company is planning to carry out:
- for land-based casinos;
- for gambling halls with slot machines, the installation of slot machines, and other gaming equipment;
- for online casinos on the Internet.
Accordingly, it is necessary to make a detailed business plan in advance. If you are planning to open not only an online casino but also a bookmaker’s office, you will have to make out additional documents. Alternatively, you may consider obtaining a permit in another jurisdiction.
Key aspects of the Belize license
- Applying for a license in Belize will cost five thousand dollars.
- The application processing (if you have fulfilled all the requirements) takes three days. For comparison: in the UK, the Commission can do it from six to eight months.
- It is necessary to enclose to the application your fingerprints, a certificate of no criminal record, and personal data of all shareholders. Be prepared to provide any additional information if necessary.
- The data can be sent in only on behalf of the international company, which is the owner of a casino, is registered in Belize, and has an authorised capital of fifty thousand dollars and more. In addition, you should open a reserve deposit account in the Central Bank of Belize.
- The Belize gambling license is issued for a period of one year but is cancelled on March 31, regardless of the date of issue. To extend it, it is necessary to file a corresponding request sixty days before the expiration date.
- The legislation of Belize states that there are no taxes on gambling but there is an annual fee:
The amount of fee (per cent of the amount of business)
The amount of business ― dollars per year
From 0 to 15 million dollars
From 0 to 15 million dollars
From 15 to 50 million dollars
More than 50 million dollars
Other requirements for those who want to obtain a permit in Belize
This country provides high-quality services, and therefore, it lays companies under an obligation to pay out winnings of players as soon as possible. Also, the customer service needs to be provided in Belize.
Along with the package of documents, it is necessary to submit a business plan of the future gambling club, in which you:
- indicate the purpose of the activity, the scale, and even the advantages of your company;
- describe a marketing promotion plan;
- give reasons for hiring employees (the number of them and their qualifications);
- present the plan for the development of your casino for the next five years.
The preparation of such certificates, of course, should be done by professionals with a vast experience in casino licensing.
The Commission that processes an application will take note of the identity of an applicant. It is important not only to provide a certificate of no criminal record but also to prove that it is legal. You can also enclose the recommendations of business partners or documents that characterise you in a positive way.
How to receive a Belize license?
First of all, you need to find a reliable partner who will deal with all paperwork and search for local specialists in Belize. Gaminator can gladly become such a partner for you.
We have been on the gambling market for a long time and know perfectly well how to get a permit in Belize or another offshore zone. Also, we know about all possible pitfalls, risks, and hidden opportunities.
Specialists from Gaminator will not only accompany you at every stage of the creation of a casino but also help you to choose the software, slot games, and payment systems. You can even order a turnkey online casino with a Belize license, and we will provide you with a ready-made product.