Getting A Casino License In Costa Rica14 February, 2022
A license in Costa Rica is one of the most popular and that’s why! Licensed online casinos have a big advantage over others. In the age of high technology, almost every inhabitant of the globe is already accustomed to evaluating any unfamiliar environment critically, excluding suspicious factors before starting direct interaction. Of course, this also applies to the online casino industry. Not even so: it concerns it almost in the first place. It is understandable: firstly, slot machines are played for money, and somehow you don’t want to risk your money. Secondly, few people will dare to provide their payment and personal information (in institutions they often ask for copies of documents for verification) to anyone. And the most important thing is that the casino should not only be safe but also honest. A license is a guarantee that the rules of an unbiased game with a random order of prizes are observed in a particular institution, which no one can violate. Moreover, in licensed casinos and slots with a license, the percentage of returns is maintained at a high level, and not screwed by the owners of establishments. You can check an example of such casinos on Stakers.com.
Actually, there is nothing surprising in the fact that licensed casinos are always a priority for the gambling public. And it is impossible to say unequivocally that no one cares about the fact of the licensee country. Of course, many people look at this nuance only superficially, being satisfied with the very fact that the casino has a license. But real sharks of excitement in this regard will always prefer the owner of a reputable license to the one who issued everything in the banana republic.
COSTA RICA CASINO LICENSE – LICENSEE’S CHOICE
The Costa Rican license is not the most popular, but it is quite an interesting option. Costa Rica is one of those countries whose economy is based on the flow of tourists and the gaming business. So, such states have long been the countries that first come to mind in any issue related to gambling at the international level.
Due to licensing fees, the state receives a considerable influx into the treasury, and first, they are paid for receiving, and then for the extension. Naturally, under such circumstances, it is in the interests of the country to independently provide the most simple and understandable procedures to potential licensees. Therefore, in Costa Rica, they will always provide expert assistance to anyone who is looking for a license — even lawyers, financiers, and business analysts.
It is also important that Costa Rica is a calm and prosperous country. Few people will risk issuing a license in even the strongest and most famous country if there is mass unrest, military actions, devaluations, etc. In Costa Rica, everything is stable and calm.
The main advantage of such a license is that Costa Rica has developed a very competent policy of attracting new licensees from abroad. Thus, only the territorial activities of licensees are taxed. If you earn outside of Costa Rica, you do not pay anything (and you will not be able to earn money on gambling within it — it is prohibited). No taxes are levied on capital gains either.
Such conditions will be especially reasonable for small gambling businesses and barely beginning entrepreneurs: it is possible to secure a license on a budget and develop the business.
So, in terms of economic benefits, Costa Rica is one of the best options among the world licensors. And more than one hundred virtual casinos around the world operate under such a permit. Nevertheless, there is no single legislative framework to help comprehensively regulate the gambling market in Costa Rica.
According to the actual legislation of Costa Rica, all legal entities can provide any gambling services both in the country and abroad, without restrictions on the type of gambling. However, citizens of Costa Rica themselves are prohibited from using casino services. So, an online casino licensed by this state is obliged to block local IP addresses. The dynamics loom quite unambiguous: the loyal attitude to gambling in these parts is due to economic benefits. Protecting its citizens from gambling, Costa Rica maintains the most loyal licensing conditions: there is no need for additional checks from internal regulators.
The absence of legislation that would regulate gambling in the country is due to the absence of overhead testing and monitoring for licensees. Well, the profit is not taxed, of course.
Moreover, the stable inflow of funds to the treasury due to the simplified licensing procedure allows the government to improve the fight against financial fraud more and more, which only strengthens the reliability of the licensee.
Based on the above, we can highlight a very attractive list of indisputable advantages for the licensee in Costa Rica:
-The stable situation in the country,
-no standards for the software used,
-no requirements for the territorial location of servers,
-no requirements for the management team,
-it is not necessary to open a bank account in a local bank,
-you do not need to pay income tax,
-tax reporting is not required,
-a license is issued quickly,
-the use of a nominal service is not prohibited,
-Costa Rica is not reputed to be offshore on an international scale.
Therefore, such a license opens the way, including to the markets of Europe and the USA.
Follow Sounds and Colours: Facebook / Twitter / Instagram / Mixcloud / Soundcloud / Bandcamp
Subscribe to the Sounds and Colours Newsletter for regular updates, news and competitions bringing the best of Latin American culture direct to your Inbox.