Curacao’s license is considered the most popular, has flexible jurisdiction and favorable tax rules. Curacao is a small island on the northern coast of Venezuela. The gaming industry began to develop here in 1966. Operators and software providers can use the license to organize sports betting and gambling at the same time. Malta is a Mediterranean island that is a member of the EU. It has a long history of developing gaming legislation. Every year, the island’s government receives tens of millions of euros in tax revenue from online casino games. The Maltese gambling system is regulated by the Malta Gambling Authority. There are many laws and regulations that shape the regulatory framework. Malta’s gaming license has a good reputation for its established standards to combat money laundering and other fraudulent activities.
The main differences
The licensing application process is not straightforward, but some are easier than others. The Curacao license is by far the fastest and easiest to issue. All operations in the field of gambling can be performed with one document. You also need to keep good financial records and comply with standards. The application process for a Maltese license is much more complicated. There are strict criteria and high standards that must be strictly observed. All applicants are required to provide references, letters of good standing, and pass an eligibility test. The quality of the software is checked periodically. Pros of a casino licensed by Malta:
* comply with all laws;
* work with EU directives on the prevention of fraud and money laundering;
* highly respected due to EU approval; Advantages of casinos with a Curacao license:
* develop faster due to a lower cost compared to a Maltese license;
* offer several services at the same time on the basis of one license;
* can open branches under a sublicense issued by the holder of the main license. In order to maintain and renew Curacao’s license, casino owners must apply the best anti-fraud measures. They also have a duty to warn players about the harmful effects of gambling.
How to get a casino license?
An operator can obtain a Curacao gambling license by first establishing a company and then applying for a sub-license. The operator must provide proof of criminal record, copies of utility bills and passports, bank statements, legal advice, details of agreements with software vendors, proof of domain ownership, and more. The biggest advantage of a Curacao gaming license is that the license holder does not have to pay VAT. The owners of a gambling company that wants to obtain a license in Malta must pass an aptitude test, during which the authorities will no doubt prove that no one associated with the company has a criminal record. The operator must also provide copies of documents such as bank statements, passports, business plans, agreements signed with third party software vendors, software audit certificates. The online casino server must be located in Malta.
It is safe to say that licensed casinos in Malta are better. Players can be assured of a safe, secure and fair gaming environment. However, this does not mean that licensed Curacao casinos should be avoided. In the field of gambling entertainment, there are many companies with such a license, which are the undisputed market leaders.