The above-mentioned jurisdiction possesses other advantages, such as:
- prestige (there would be no difficulties with partners and contractors) and location;
- convenient cooperation with the European banking authorities;
- technical content development: communication lines, fiber-optic Internet network, local skilled specialists;
- possible direct processing of bank cards;
- State support to the industry;
- low tax rates (1% gross on gambling), no VAT and down payment.
Online Casino License
The jurisdiction authorities take care of reputation and prestige, therefore, they keep a strict watch on compliance with the rules of gambling business. Starting a business is subject to licensing – opening an online casino in Gibraltar shall be deemed to close consideration of each application. On the other hand, this fosters the willingness of partners to cooperate with a company that had received a license here.
Aotopay provides assistance in registering a gambling business and obtaining all permits. Their cost varies depending on a specific activity area and starts at €30,000, plus an annual license renewal costing €2,000. Licenses are issued to efficient operators, so they need to do a complete audit. The other conditions necessary for the establishment of a gambling business in Gibraltar include:
- existence of a workable business plan and stable financial position;
- testing software in use;
- taxation of currency exchange when betting, and so on.
