While it seems like anyone can start his own business in an industry as big, as gambling, there are certain norms and regulations to meet. The dynamic space of this sphere requires strict regulations, like those presented on the SBSB Fintech Lawyers — a Gambling business in Costa Rica that any business should have to have a good reputation among players in the country as it acts like a legal marker. To successfully start and conduct activities in the field of online casinos, bookmakers, or lotteries, it is necessary to choose the optimal jurisdiction for business registration and obtain the appropriate permission. A lot of entrepreneurs choose Costa Rica as their choice because it has many advantages. It is time to look at them in full detail.
The Reality of Gambling License in Costa Rica
Despite the lack of specific legislation regulating the Internet gambling industry, this Central American country is a recognized hub for companies operating in this area. The secret of Costa Rica’s popularity as a jurisdiction lies in a favorable business climate, a justified tax system, and a relatively simple company registration procedure.
Unlike many other jurisdictions, this country does not require a separate gambling license in Costa Rica. It is enough just to register the company, indicating that its activity is related to online gambling. The advantages of registering a business here:
- reasonable tax system. Government uses the territorial principle of taxation, that is, companies do not pay taxes on income received outside the country. This makes the jurisdiction attractive to international operators;
- ability to accept cryptocurrencies. Unlike many other jurisdictions, transactions with cryptocurrencies, including Bitcoin, are allowed in this country;
- quick company registration. The process of registering a legal entity in Costa Rica takes no more than 2 weeks, which allows you to quickly start a business;
- a wide range of permitted services. Operators registered in the country can provide services such as online casinos, bookmakers, lotteries, online bingo, etc.
It should be remembered that despite the lack of a special gambling license in Costa Rica, the gambling business in Costa Rica must still comply with certain requirements, including anti-money laundering rules. In addition, operators are prohibited from carrying out transactions in local banking institutions.
The Help of Professionals
To start and run a gambling business in this country without any problems, it is extremely important to engage experienced lawyers who will help prepare the necessary package of documents, register the company, and provide legal support at all stages of activity. This is where cooperation with professionals of SBSB Fintech Lawyers, a law firm specializing in providing legal services in the fields of fintech, crypto, and gambling — becomes indispensable.