Estonia Gambling License
All over the world, there are many illegal casinos whose owners operate at their own risk and peril. A gambling license is expensive but if you prefer to sleep with a peaceful mind and want to actively develop your business, the online casino license (obtained in Estonia or all over the globe) becomes the primary goal.
In most cases, businessmen prefer the Estonia gambling license because it allows them to easily enter the European market (and then, who knows, maybe even a global one). In this article, we will tell you what documents do you need to collect and what conditions to meet in order to be able to provide gambling services to EU citizens.
Do you want to open a casino in Europe and do not know where to start? Contact Gaminator Casino and ask its specialists for advice. Here, you will find lawyers, business consultants, and technical experts with vast experience in the field of online gambling. They will help you to prepare your business for the launch from A to Z, including the acquisition of the license in Estonia.
In 2008, when the world was “covered” with the economic depression, each country was looking for its own ways out of this situation. And Estonia has chosen the optimisation of taxes, licenses, business environment, and gambling.
As a result, several years ago, casinos have begun to appear across the country, and many online gambling projects have also been launched. And they, in turn, have brought high income to the state budget. In 2011, in a Gambling Act, Estonia has let down the bars on international hosting in order to attract investments from abroad.
Therefore, Estonians are favourably disposed towards the gambling field and provide loyal conditions for the opening of this kind of business. But what does the Estonia gambling license give to operators? After all, there are many other countries, including offshore zones.
Main advantages of the Estonia gambling license:
- A legal opportunity to work in the EU.
- Throws open the doors to European banks, which seem more trustworthy to players.
- Developers from any country in the world convince themselves of your reliability, which allows you to get high-quality software and the latest slot games.
- Ensures availability of an individual EU number.
- You will need to pay relatively low taxes.
- There is a chance to find European investors.
According to Estonian law, a future gambling project needs to acquire two documents:
- a permit for the organisation of a gambling business;
- a license for carrying out gambling activities.
The first document is received once, and it does not need to be updated or renewed. But, accordingly, if you want to organise another business, you will have to go through the procedure again.
A permit of the second type is issued for a period of twenty years, after which it must be renewed. During the period when the document is valid, you can work legally.
Conditions That you Should Meet to Obtain the Estonia Gambling License
A gambling business can be started by a public or a private company in two forms of incorporation:
- a stock company;
- a limited liability partnership.
Regardless of the form, a gambling license can be issued only to companies that have a single type of activity — gambling.
When filing an application, operators must:
- Provide a certificate of no criminal record.
- Confirm that the size of the authorised share capital is one hundred twenty-eight thousand euro.
- Have a share capital of more than one million euro.
- Register a company in Estonia (for international companies).
- Provide all information on shareholders, members of the board of directors, and other staff if necessary.
- Pay a state duty of three thousand euro.
In Estonia, the issuance of licenses is regulated by the Tax and Customs Board. The decision is made within a period from four to six months from the date of filing an application.
As soon as a license is obtained, a package of documents is filed, thanks to which businessmen get another permit for the realisation of gambling services. The issue of such a permit requires another two or four months.
In addition to business requirements, in Estonia, there are also special terms for those players who want to play online casino games. Moreover, the legislation provides three gradations by age:
- citizens over the age of sixteen are allowed to play lottery games;
- gamblers over eighteen years old can join the Toto lottery;
- other casino games can be played by Estonians over the age of twenty-one.
The expenses for the acquisition of both licenses:
- three thousand euro ― a state duty for the consideration of an application;
- forty-eight thousand euro ― a request for a license for the operation.
It is worth noting that to open multiple casinos, it will be necessary to obtain the appropriate number of permits for the organisation of gambling activities.
Taxation in Estonia is quite low: online casinos pay only 5% of the received income.
The Estonian regulator rarely refuses an application. However, when it does, the most common reasons for it are:
- criminal record or criminal prosecution of one of the owners of the company, shareholders or members of the board of directors;
- carrying out illegal gambling activity or violations of licensing conditions in another jurisdiction, which resulted in the revocation of the license;
- the bankruptcy of a limited liability partnership because of incompetent management.
The main difficulty in the acquisition of a license in any jurisdiction is the necessity to have a deep knowledge and understand the local legislation, which is almost impossible if you are a resident of another country.
But this problem can be solved quite easily: you need the help of qualified specialists, for example, the Gaminator team. We provide support for the gambling business from the moment when the idea first came to your mind to the time when you start getting a stable profit. With our assistance, it is possible to obtain a permit in Estonia faster and easier and also create gaming sites and purchase all the necessary software for a quick launch of the gambling business on the Internet.
For all questions, please contact us:
- By e-mail: email@example.com.
- On Skype: gaminator.deluxe.
- In Telegram: @win24.
- Via the feedback form.