CURAÇAO CONFIRMS LOK GAMING LICENCE FEES
Last Monday, Curaçao’s minister of finance Javier Silvania disclosed the fees that will be charged for licences under the current (NOOGH) and incoming (LOK) legislations.
Under the current legislation, licences are considered operating licences only, with no separate B2C and B2B categorisation.
The single licence has no application fee, an annual fee of €18,500 and a monthly fee of €3,600. Up to 40 domains are included in the licence with an additional fee of €250 for any additional domain above 40, bringing the total approximate annual licence fee to €61,700 + €250 per annum per domain, with no upper limits as to the number of domains.
Under the incoming LOK draft, which is subject to parliamentary approval, all entities must hold a B2C licence, without exceptions. This includes companies that interact directly with players, control player funds and/or player data as well as companies (such as platforms) who meaningfully facilitate the B2C operations vis-à-vis player funds and player data.
There will be a licence application fee of €4,600 plus one-off due diligence fees between €125 and €250 per person, depending on their role.
The annual fee will be €24,600, payable upon licence issuance. The monthly fee €2,050 with a fee of €250 per annum and per domain, bringing the total approximate annual licence fee to €49,200 + €250 per annum per domain, with no upper limits as to the number of domains.
Operators who come under the LOK as part of a direct licence under the current law will not have to pay the annual fee of €24,600 upon licence issuance. Rather, the sum will be due on the anniversary of their licence issuance, at which point the monthly fee will be reduced from €3,600 to €2,000 approximately and the per domain fee will come into force.
As far as B2B licences are concerned, the fee structure is similar to the B2C structure with a licence application fee of €4,600 plus one-off due diligence fees between €125 and €250 per person, depending on their role. The annual fee will be €24,600 with no monthly or per domain fees.
If you have any further questions regarding the licensing fees or the licence application process, get in touch. We are already submitting licence applications under the new regulations and our team in Curaçao will be delighted to assist you.