Gibraltar

Gibraltar is considered the territory of the United Kingdom. It is located in the south of the Iberian Peninsula, has a favourable climate, stable legislation, and democratic taxation. Together, all of these factors make up an extremely attractive environment for foreign investors.

2WinPower can help you open a gambling platform in Gibraltar exceptionally easily. We provide complete business support at all stages of the implementation and guarantee a 100% success.

Key Features of the Jurisdiction

Launching an online casino in Gibraltar, a promising area with a rich history, is destined to bring you the cherished profit. The jurisdiction began to issue licenses in 1998, with the improvement of regulatory documents happening in 2005.

Local authorities presented the Gibraltar Gambling Act that year, which identified the main points in the relationship between the jurisdiction, gambling establishments, and the customers of the services.

The gambling industry is regulated by two authorized bodies:

• The Licensing Department conducts an initial examination of applicants, as well as draws up permits based on the results of the audit.
• The Gambling Commission controls the licensees’ activities and compliance with the established legislation. It ensures that people under 18 and clients with signs of addiction aren’t allowed to casino in Gibraltar. Another task the commission is responsible for is the monitoring of timely tax payments.

Benefits of Gambling License for Casino

Obtaining a gambling license in Gibraltar provides a wide range of benefits for the operators:

1. Impeccable reputation. Companies increase their relevance and brand popularity by opting to work in this jurisdiction. Launching a casino in Gibraltar may be challenging that emphasizes the prestige of the enterprise.
2. Stable legislation. It has remained unchanged over the past 15 years. It is a clear signal that long-term investments in the local economy can be safely made with a high chance of expected profitability.
3. Access to foreign markets. Opening a gambling license casino in Gibraltar is a great way to upgrade your business. The influx of solvent clients from Europe is guaranteed.
4. Interaction with proven financial institutions. Financial institutions are willing to work with licensed companies and issue loans at the lowest interest rates.
5. Access to advanced technological innovations. Hundreds of IT companies offer their high-quality solutions for gambling license casino in Gibraltar. They can provide you with modern equipment, secure software as well as high-quality telecommunication services.
6. Amazing responsiveness. Gambling license in Gibraltar provides you with an ability to launch an online casino in just a month. Local regulations work perfectly well to give market access to as many foreign companies as possible.
7. Loyal taxation system. Gibraltar license is one of the most profitable in the entire EU, which makes the jurisdiction incredibly popular among international operators.

Types, Cost, and Terms of Licenses

The gaming industry is one of the key sectors of the local economy. The current multidisciplinary system consists of Gibraltar regulator, casinos, bookmakers, consulting agencies, and gaming services consumers. Therefore, the jurisdiction provides gambling licenses in Gibraltar of two types — B&C and B&B.

B&C (Business-to-Consumer)

£100,000

For companies that are aimed at gamers as their end-users.

Subtypes

Land-based casino with a Gibraltar license

Online casino

Land-based betting establishment

Setup of an online bookmaker’s store

B&B (Business-to-Business)

£75,000

For companies focused on servicing operators and bookmakers

Subtypes

Production of software and equipment for gambling

Maintenance, support for operators and bookies

Any gambling license of Gibraltar (online casino, betting, land-based types) is issued for 5 years. It is a considerable period when compared with other offshore zones — Malta, Kahnawake, the Isle of Man.

5 years later, the company has the right to renew the license. They will have to pay £22.4 thousand to the local treasury annually.

How to Obtain a Gambling License in Gibraltar

In order to get legal permission for operation, the applicant must meet several conditions:

• Register a legal entity in the jurisdiction. As an alternative, you can locate your gambling equipment or servers inside the country, but this option is only available to the existing operators or bookmakers.
• Confirm financial capability. The minimum amount isn’t indicated, but it must exceed the cost of the permit (£100 thousand).
• Pass an independent hardware and software check-up. Particular attention is paid to slot machines and games based on a random number generator. Only the authorized providers complete such validation.
• Provide a payment history. It is an obligatory requirement for permit holders of other jurisdictions who wish to expand their operation by obtaining a local license.
• Provide a series of precautionary measures. These include the restriction on gambling activities for the underage, anti-money-laundering, and financial terrorism protection.
• Open bank accounts at the local bank. The company must have two permanent accounts — for accepting deposits from players (and paying out their winnings) and making commercial transactions.

All the required documents are sent to the Licensing Department that must confirm the applicant’s registration, legitimacy, and financial condition.

Be sure you’ve prepared the necessary data:

1. Information on the company’s managing personnel: shareholders, beneficiaries, senior management, etc.
2. The results of the audit on equipment and software.
3. Description of the gaming platform (names of video slots, providers, mechanics, bonus features, max and min limits).
4. A comprehensive business plan for 3 years minimum (analysis of income and expenses, financing sources, signed contracts with software and hardware suppliers).
5. Copies of statutory documents.

The period of application consideration depends on how well the company prepared the package of documents and went through all the preparatory procedures (registration, audit, etc.). If everything is done correctly, a Gibraltar license will be issued a month after the filing of an authorized application.

Taxation System

One of the key factors in the attractiveness of the UK offshore possessions is loyal taxation policy.

Like the UK, Gibraltar is a member of the EU, but, unlike the mainland state, the jurisdiction managed to maintain complete taxation independence. Therefore, here, the fees are probably the lowest in Europe.

The tax on gambling is only 1% of the company’s net profit. Moreover, the sum of deductions may not exceed £425 thousand or, conversely, be less than £85 thousand. This approach equalizes large and small businesses and encourages entrepreneurs to earn more.

Also, there are no VAT, tax on the withdrawal of capital and dividends, a fee for real estate ownership, and other minor obligatory payments

Conclusion

A Gibraltar license is an excellent option for entrepreneurs who plan to extend their business. The jurisdiction is distinctive with its loyal taxation, developed IT services, and an extended license period.

2WinPower will help you get your Gibraltar license as soon as possible. We are an experienced guide company and are well acquainted with local laws.

2WinPower also offers a convenient turnkey business solution. Feel all advantages of a completed project — already licensed platform that includes a payment module and original gaming content: you receive everything to set up a profitable business in a blink of an eye.

Contact our manager and learn more about the available solutions for iGaming from 2WinPower:

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