Why not? Do you have what it takes? Well, everyday some new online gaming guru in the making launches a new online gaming site. But how daunting of a task is it? In our more than 14 years of experience in the online offshore gaming industry we can tell you that it requires significant effort and attention to detail.

1. Costa Rica Online Casino License Renewal
2. Costa Rica Online Casino License Application
3. Costa Rica Online Casino License Search

. Apply for a gambling license via the Costa Rica Gaming Company. Find the payment processing companies which can be sourced through various agencies. The operator must have a physical office within Costa Rica. There is also an internet online gaming license (but this is still not strictly required). There isn't any regulatory body overseeing the online casino operators, who choose to purchase a license or operate out of Costa Rica. As of this moment, all an operator has to do is pay for a license and they are free to run their operation in any way desired. There aren't any laws enacted in Costa Rica to address the issue of online casinos.

1. Costa Rica is ranked special among such jurisdictions. And moreover, a license is not required to perform activities related to online gambling of companies registered within Costa Rica. The only requirement set by the governmental authority is the prohibition to accept bets from citizens of the same state. Terms of Business Registration.
2. Several online casinos are license for example over in Costa Rica, and whilst you may not be aware of what they are going to be offering you as a player if you haven’t played at any of those sites before, this guide has been compiled to give you an insight into what they do offer players, even those that are users of the Gamstop service.

The present gives you a basic legal overview of what is entailed in setting-up a fully functional online gambling website. We feel that many entrepreneurs start their adventure without fully understanding all the variables involved in setting-up an online casino. Some are expert gamblers, others are just businessmen, or software designers, and it takes a little bit of each to make it. As attorneys and offshore experts we feel that the cornerstone of the entire operation is understanding the applicable laws, remember that you are launching a global business and as such you must verify with appropriate legal counsel that you are not breaching international laws and regulations related to gaming.

Please look at the following key aspects so that you can have a starting point, the information is prepared based in our experience as legal counsel and experts in the matter:

Key Aspect # 1: Based on your nationality determine the possible legal implications of your actions

Key Aspect # 2: Determine the best jurisdiction to launch your site

Key Aspect # 3: Understand the implications of your selected target market and types of games

Key Aspect # 4: Determine the best location for your servers

Key Aspect # 5: Select the right corporate structure

Key Aspect # 6: Apply for your Gambling License

Key Aspect # 7: Deal with payment options

Key Aspect # 8: Go Live!

* KEY ASPECT # 1:

Based on your nationality determine the possible legal implications of your actions

The first key aspect that should be taken seriously into consideration is to study the legal ramifications that your actions could cause. Contact an experienced Gaming Law attorney to fully discuss if you are legally able to own an online gaming company.

Is online gaming legal in your country, in your state or province? If it is, do you require a gambling or gaming license? If such licenses are available can you meet the requirements? Because of the nature of the gaming industry and the globalization effect of the World Wide Web, it is important for you to know that governments are concerned about legal practices such as: money laundering, tax evasion, and fraudulent activities being disguised as wagers. Determine not only the applicable gaming laws but also the taxes involved for such an activity.

As it is well known the multi-billion dollar online gaming industry has one of its biggest and best markets in the Unites States of America. However, it is also well known that the United States still has a prohibitionist policy for online betting activities; several actions of the Department of Justice clearly demonstrate such a strict position. The main reason is not relatedto the nature of the industry, as gambling is considered to be innate to human nature, but it is mostly based on the difficulty of the Federal Government to collect taxes from offshore gaming companies taking bets from US citizens. This attitude has permanently raised the question of the United States trying to act as the watchdog of the Internet and about its violations to International Law and to dispositions of the World Trade Organization (WTO).

Also if you are a US Citizen or resident please take into consideration that you are subject to global taxation, so if you decide that despite the position of your government towards gaming you still want to pursue such avenue, bear in mind that you might have to pay taxes in an offshore jurisdiction and in your country of origin. As this is such a delicate issue we recommend making an informed decision.

* KEY ASPECT # 2:

Determine the best jurisdiction to launch your site

Now that you understand what implications arise from your nationality, you have to decide if you launch your operation from your country of origin, or if you will decide to select an offshore jurisdiction.

Normally the best option available is to go offshore, you will find considerable regulatory advantages in countries with a more relaxed attitude towards online gaming. Below you will see a simple table to make you understand the best offshore options to set-up an online casino operation.

ANTIGUA - CARIBBEAN - 3/6 MONTHS - US$200,000 YEARLY FEES - HIGH DIFFICULTY
BELIZE - CENTRAL AMERICA - 2/4 MONTHS - US$60,000 YEARLY FEES - MEDIUM DIFFICULTY
COSTA RICA - CENTRAL AMERICA - 2/3 MONTHS - US$5,000 TO US$10,000 YEARLY FEES - LOW DIFFICULTY
CURACAO - CARIBBEAN - 2/3 MONTHS - US$60,000 YEARLY FEES - HIGH DIFFICULTY
MALTA - EUROPEAN UNION - 3/4 MONTHS - US$100,000 YEARLY FEES - HIGH DIFFICULTY

As you can see, among the most popular and realistic offshore gambling licenses options jurisdictions, fees are not created for small or medium size operations. Costa Rica offers the best option to launch an online casino or gambling site. Even though Costa Rica offers a gambling license known as a data processing license which is not regulated by a specific gaming authority, this country has been the choice for some of the world's biggest gaming operations. Bodog, Betonsports, SDB Global, Sportingbetusa, CRIS, Betus, Mvpsportsbook, Absolute Poker, Doyle's Room are just an example of how this strong democracy has provided an ideal legal system for these companies to grow. Because of the country's long democratic tradition, once you obtain the license you will not be subject to unpleasant surprises from the authorities. The negative aspect is that the lack of specific supervision requires self-regulation by the operators of the gaming site, which could be dangerous for players. Despite the lack of strict enforcement, the serious cases of fraudulent Costa Rican gaming companies are rare.

So unless your budget is of several million dollars to risk and unless you have a client database of several hundred, we believe Costa Rica is by far your best option to launch your initial operation. Later on when you are able to position your site as an internationally recognized operation you could look into securing more formal licenses to gain access to certain operational advantages.

* KEY ASPECT # 3:

Understand the implications of your selected target market and types of games

If you listen to our advice and get your Gambling License from Costa Rica, you are technically getting a data processing license from a selected local government in Costa Rica which allows you to operate an online gaming operation. Such a license is internationally accepted by most of the online processing providers and by certain financial institutions as a legitimate permit to conduct gaming activities using a Costa Rican Gaming Company to target the global market.

Please understand that this gambling license allows you to conduct gaming activities without breaching Costa Rican Law, but as you can imagine certain restrictions apply. For example it is desirable to block Costa Rican IP addresses from accessing your gaming site. Costa Rica allows you to target foreign markets but the local market is monopolized by the government. Also we have mentioned before it requires special attention if the site will allow United States citizens to play. Before making such decision it is a must to examine along with your lawyer the implications for both US Citizens and other nationalities.

Depending on the country of origin of your player, certain rules might vary depending on the type of game that you are offering. Sports' betting is considered generally illegal in the United States, skill involved in the game is another factor to take into consideration as well as other limitations for games controlled by the State.

The current virtual reality of globalized online business presents a considerable challenge for legislators as certain acts take place in cyberspace and lack face to face negotiations. Dematerialization of online business raises questions of the applicable laws to certain transactions. So if you have a license in Costa Rica, but you are not allowed to target the local market, can only conduct offshore business but still have to verify and avoid certain illegalities, where does the contract takes place? Is it in Costa Rica, or in the country of the player, or in cyberspace? Such are the great areas of the Internet, the advantages and the cons.

* KEY ASPECT # 4:

Determine the best location for your servers

In a close relationship with the previous step, if you are licensed in Costa Rica, it makes sense to host your site in servers located in the same country. If you block local IP addresses you are preventing of being accused of breaching the monopoly of the State over bets.

Some operators decide to host their sites in other countries, because Internet lacks in most countries of specific regulations for material hosted in local servers, the difficulty of patrolling the Internet and the even harder task of deciding which jurisdiction to apply, normally the decision of locating the servers is based more on technical aspects than in legal considerations.

* KEY ASPECT # 5:

Select the right corporate structure

In our experience the ideal corporate structure will include a Costa Rican Gaming Company to hold the license, one or more additional local corporations for asset protection strategies and an offshore corporation from a different jurisdiction.

With a Costa Rican limited liability corporation you will operate your gaming site and apply to the Gambling License. Such entities provide protection from claims against personal assets just like any other type of business.

We also believe that based in the current situation of the offshore gaming industry including an offshore corporation from a tax haven country or the EU could provide considerable confidentiality and regulatory advantages. This corporate structure has to be created based on your specific needs by an experienced lawyer.

Applicable fees for setting-up the Costa Rican Gaming Company:

New Costa Rican Gaming Company - €2,500.00

Standard Package includes:

- Articles of Incorporation
- Articles of Incorporation + official translation + Apostille
- Share Transfer Agreement
- Share Certificates
- Certificate of Good Standing + official translation + Apostille
- Certificate of Incorporation + official translation + Apostille
- Legal Books
- Resident Agent (included for the 1st year)
- Registered Address (included for the 1st year)

Renewal Fees for the 2nd and subsequent years - €1,700.00

Other (optional) Services:

- Power of Attorney (POA) - €400.00
- Apostille of corporate documents (per document) - €200.00
- Amendments - €1,000.00
- Duplicate of corporate documents (per document) - €150.00

* KEY ASPECT # 6:

Apply for your Gambling License

Costa Rica offers the by far the best option to gain a gambling license for your startup operation. Only certain local governments or municipalidades grant such licenses known as data processing licenses. It is handled by experienced Gaming Law attorneys who determine the pros and cons of such an application. The license is specifically a business license and requires the permit to be granted to a physical location in Costa Rican territory, which can be entirely handled by Gaming attorneys. For your education the following is the basic application logic of the Gambling License in Costa Rica:

* Lease Agreement Analysis
* Zoning Permit
* Work Risk Insurance
* Employer Registration
* Health Permit
* Business License

Estimated Duration: 2-3 months

Issued by: Selected Local Governments

Applicable fees for obtaining the Costa Rican Gaming License:

Costa Rican Data Processing License - €8,950.00

Renewal Fees for the 2nd and subsequent years - €4,000.00

* KEY ASPECT # 7:

Costa Rica Online Casino License Renewal

Deal with Payment Options

Using the Costa Rican Company and with your Gaming License you will gain access to several payment processing options available for offshore gaming operations. Because of the special nature of the activity, payment processing and banking require special attention. With the help of the expert Gaming Law attorney you will be informed of the options, we suggest to do a combination of jurisdictions and banking options to implement a strong yet flexible financial structure which in our opinion will decide a lot of the success of your project.

* KEY ASPECT # 8:

Go Live!

The moment you have waited for is finally here, normally 2-3 months after you have retained your attorneys and after considerable effort your site will be operational and ready to benefit from your marketing efforts! Good Luck!!!

As per the legislation of many jurisdictions, online gambling relates to illegal commercial activities. If you intend to do business in this industry, if you possess the required knowledge and assets, but are willing to do it legally, we recommend that you focus on jurisdictions where the gambling online is permitted by law.

Currently, there are many countries where bookmaker agency and online casino registration is not considered to violate the law. Costa Rica is ranked special among such jurisdictions. And moreover, a license is not required to perform activities related to online gambling of companies registered within Costa Rica. The only requirement set by the governmental authority is the prohibition to accept bets from citizens of the same state.

In Costa Rica, the process of company registration takes no more than 50-60 days. If these companies refer to nominal service offered by the Private Financial Services, the terms of registration can be advanced twice. We count from the time when the local registrar is provided with the package of required documentation.

Laws that regulate commercial activities in the country are specified back in 1964 in the special Commercial Code. In terms of registration forms, foreign investors may create the corporate business within the country area. Creation of the corporate business involves a range of requirements:

• at least, one shareholder who is an individual and one shareholder who is a legal person should be the the company member at the time of establishment;
• meetings of shareholders should be held at least once a year as per the charter, and not necessarily on the territory of Costa Rica;
• preferential shares are allowed but bearer shares and no-par value shares are not allowed;
• the corporate business should enter: a fiscal representative, the resident’s agent and the treasurer, secretary and president (three managers).

The laws of the Commercial Code does not impose any strict requirements regarding the minimum amount of the authorized capital. The only important aspect to consider is at least 25% of the authorized capital should be paid at the time of the corporation registration.

A bank account may be opened with any foreign bank with no restrictions.

Costa Rica Online Casino License Application

The activities undertaken by a company in the field of online gambling, registered on the territory of the country is not taxed. The so-called corporate tax should be only paid once a year.

The legal field of Costa Rica provide certain requirements for companies registered within the country in respect of their legal address. This requirement is normally easy to meet using lease services; there is no need in purchase of the real estate to get a legal address there. To confirm the legal address, a standard rental contract is enough.

Cost of Business Company Registration in Costa Rica

The cost of registration procedure for the owner of online business associated with gaming is 2 850 Euro. Besides, a reference should be there with any European company to open the merchant in the EU of the average cost of about $1,350 USD. The price of registration includes the basic package of documents and legal address for the period of 365 days.

Basic package of documents. The basic package of documents includes:

— Certificate of registration (original).
— Decision on appointment of the first Director (original).
— Constituent paper (original).
— Company seal.

Costa Rica Online Casino License Search

• Treasurer, Secretary and President (three managers as per the Costa Rican law) – 2400 Euro.
• One nominee Director – 800 Euro.
• Annual support, starting from the second year – 2500 Euro.
• Opening a company account in Costa Rica (amount depends on the selected banking facility).
• Merchant account opening is 700 Euro.