Curaçao minister of finance confirms licence fees
Under the current law, licences are not split into B2B and B2C – instead, B2B and B2C are classified as just one licence type. For this single licence type, the application fee sits at zero. The annual fee is ANG36,000 (£15,958/€18,623/$20,090), while the monthly fee is ANG7,000. Up to 40 domains are included in the licence.
Under the incoming LOK draft for B2C licences, the licence application fee will be ANG9,000, plus one-off due diligence fees between ANG250 and ANG500 per person. The amount of due diligence paid is dependent on each person’s role.
The annual fee is ANG48,000, while the monthly fee is ANG4,000. A total of ANG500 per annum must be paid per domain. There are an unlimited number of domains under B2C licences.
However, operators that come in as part of a direct licence under the current law to the LOK do not have to pay the ANG48,000 on enactment. Instead, this is due on the first anniversary of their licence. At that point the monthly fee will be reduced from ANG7,000 to ANG4,000.
As part of the LOK, all entities must hold a B2C licence. This consists of companies that interact with players directly and companies that facilitate B2C operations through player funds and data.
What about B2B licences?
For new B2B licences under the LOK, the licence fees are largely similar to B2C.
The application fee will also be ANG9,000, plus one-off due diligence fees between ANG250 and ANG500 per person depending on the role.
The annual fee will also be ANG48,000 but there will be no monthly fee for B2B licences. Domains are also not applicable in this instance.
How is the LOK being implemented?
Curaçao’s new licensing process launched on 1 September. This was when the Gaming Control Board (GCB) opened its licence application portal, which contained information on licence application forms. However, account registrations could not be submitted until 1 November.
The portal has two aims. These are to process new applications under the current legislation – the NOOGH – in conjunction with the GCB and to register all sublicensees that wish to operate throughout the LOK implementation. Sixiènne Jansen, legal advisor to Curaçao’s ministry of finance outlined the new licensing process at iGB L!VE in July this year.
Hilary Stewart-Jones, an independent consultant at gambling law firm Harris Hagan, joined the GCB as an adviser in September.
During the same month, the minister said the LOK would act as a “safety net” against grey-listing.