The Dominican Republic

Island countries with excellent climatic conditions and a reliable financial system are ideal platforms for launching profitable gambling projects.

2WinPower recommends you to pay attention to the Dominican Republic. The jurisdiction provides optimal taxation and a simplified procedure for registering a business. You can open an online casino in just two weeks.

Characteristics of the Dominican Republic Gambling

The Dominican Republic is a state of the Caribbean archipelago. The country has a warm climate and favourable economic environment, which attracts 5 million travellers from all over the world every year. The tourism industry is one of the priority areas of the country's economy. As is well known, this field is closely related to the gambling business.

Ground-Based Sector

Initially, the Dominican Republic gambling business was represented exclusively by land-based casinos, focused only on tourists. Over time, the locals were allowed to make sports bets.

Over 60 ground-based operators are registered in the country. As a rule, they are localized in resort towns. The Dominican Republic Punta Cana casinos are the most famous and visited establishments in the state. They are especially popular among visitors from North and South America.

iGaming Industry

Since 2006, the Dominican Republic license has been issued for virtual gambling resources. In recent years, profits from obtaining permits for online casinos made up the lion's share of revenues to the local budget.

The Dominican Republic gambling industry includes casinos, sports betting, and lotteries. The permit can be obtained in the following local regulatory authorities:

Interestingly, the main aspects of gambling regulation are described in regulatory act No. 351. It was adopted by the government back in 1964.

For more than 55 years, the document has undergone only some slight changes. This fact illustrates how well-thought-out and, at the same time, simple is the local legislation.

The Benefits of Launching a Gaming Project

The Dominican Republic online casino license can be obtained in the shortest possible time.

Besides, the jurisdiction offers the following benefits for entrepreneurs:

• Reliable reputation. You can conclude contracts with leading software suppliers and get a loan on favourable terms in one of the international banks. In addition, casino Dominican Republic reviews are of great importance for novice businessmen. As usual, players’ feedback is positive. This fact contributes to the growth of the gaming business popularity.
• Possibility to enter international markets. The Dominican Republic online casino license is an effective tool for expanding the gaming business. This is an excellent variant for entrepreneurs planning to expand their activities in Caribbean countries and Latin America.
• Access to advanced IT technologies. The country has a well-developed telecommunications network and 4G coverage. Besides, dozens of companies selling secure server equipment for casinos in the Dominican Republic are registered here.
• Fast response. The Dominican Republic gambling business is focused on foreign investors. Getting a permit can take just 2-3 weeks. Interestingly, the presence of the operator is not necessary during the process of preparing documentation and application submission. His or her functions can be delegated to a third party, for example, a consulting firm.
• Simplified licensing process. For example, there is no need to provide financial statements of an entity. It is not necessary to go through complex audits and interviews with a local regulator. 
• Multicurrency support. Operators can make transactions using any currency.
• Loyal taxation. A 25% income tax is the only deduction to the state treasury. The tax rate is calculated as the difference between the income and expenses of the company for the reporting period. At the same time, there are no VAT, withdrawal, dividend, and real estate taxes.

Features of Licensing

The Dominican Republic online casino licenses are available only to foreign entrepreneurs. In addition to a virtual resource, local legislation requires the presence of a ground-based establishment.

To obtain a permit, the applicant must perform the following steps:

• to become the owner or tenant of a first-class hotel located in the tourist zone of the state;
• to be a holder of a ground-based gambling license.

It is noteworthy that licensees can cooperate with third parties in matters of the virtual platform administration. In this case, the operator delegates its duties to the manager, who manages the operating of a gaming resource on behalf of the casino owner.

A package of documents sent to the gambling commission must confirm the registration, legitimacy, and financial status of the applicant.

The operator must provide the following documents:

• a copy of the corporate charter;
• сonfirmation of opening a bank account;
• data on all key persons: shareholders, founders, beneficiaries, and management;
• a certificate of no indebtedness from the Central Bank of the state;
• business plan for two next years, describing the sources of financing, expected income and expenses, the amount of borrowed funds (long-term and short-term loans);
• description of the gambling platform functionality. Bonus systems, licensed software, built-in payment modules, game catalogue with detailed characteristics of each slot (RTP, max, and min bet limits, promotion programs) should be taken into account.

As already mentioned, the process of licensing a casino in the Dominican Republic will take only 2-3 weeks. The applicant’s presence is not required. If everything goes well, you will be able to launch a gambling website literally the next day after issuing a permit.

Conclusion

There is no other country in the Caribbean with more favourable conditions for the gambling industry than this state. A license for a casino in the Dominican Republic is issued within 14 days after the application is submitted. Loyal taxation and a simplified licensing procedure strengthen the positive impression of the country.

2WinPower is your reliable assistant in all matters related to the launch of the gambling business in the Dominican Republic. Take advantage of our colossal experience in this jurisdiction and a thorough understanding of its legislation.

You can buy a turnkey online casino, a full-fledged and ready-to-launch solution, from us. The product is licensed. It has multi-functional software and a huge selection of slots from the best manufacturers. Cooperating with us, you will receive an effective and profitable resource with high self-sufficiency.

Contact the 2WinPower manager and find out more about the best offers for the iGaming field:

• email: [email protected]
• Skype: twowinpower
• Telegram: @Win2Power
• feedback form.