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Overview
The location of Gibraltar and the important role of Tourism in its economy prompted the Government to look into gambling as a new source of revenue. Gibraltar has been one of the pioneers in relation to the licensing and regulation of online gambling services.
Incorporation & obtaining license: within 6 months
Minimum paid up capital: is set on case-by-case basis
Overview
The Gibraltar online gambling license enables any company to freely enter the European market with their business, to develop it, and also to forge partnerships with new major partners.
Some benefits of Online Gambling License in Gibraltar:
- ▪Companies which have obtained the license work without a necessity to pay VAT
- ▪Businessmen are protected by the Gibraltar authorities, which give them the same guarantees as domestic companies have
Comprehensive Guide to Company Incorporation
General information
Taxation
- ▪The holders of a remote gambling license are required to pay a tax of 1% of their gross profit and the amount of tax is capped at a minimum of £85,000 and a maximum of £ 425,000
- ▪Registration for taxation purposes is not necessary for non-resident organizations. This means that estate tax, VAT, wealth tax, gift tax or capital gains tax is not applicable to them
Other benefits
- ▪The country guarantees complete confidentiality of financial activities and personal data
- ▪Licensees will receive a merchant account
Company name
- ▪Language: English
- ▪Letters: Any
N.B.
- ▪Restricted connections for company name: name of state, national or local government.
- ▪Any name that implies illegal activity or implies royal or government patronage is restricted.
- ▪Registrar may reject any name which it considers undesirable or contrary to the public interest.
- ▪Company name is restricted to be identical or similar that of an existing company.
- ▪In case when foreign language is used for company name the translation must be provided to Registrar which will ensure conformity to above listed restrictions.
In order to obtain a license, the following steps will be carried out:
- ▪Data Processing for License application with the Regulator
- ▪Preparation of the application (if necessary assistance with notarization and apostilling of the documents)
- ▪Submission of the application and documents to the Registry
- ▪Assisting in post- application process
In order to obtain license, Offshorelicense will fill all necessary application forms and also acquire apostilled corporate documents.
For that reason, please provide us with the following documents.
- ▪Verifiable information on the brand’s founders (full name, place of residence, e-mail address)
- ▪Scans of all pages of passports of directors, employees and shareholders
- ▪Documents that confirm the existence of the company’s settlement account
- ▪Certificates from banks, certified by a notary, on the account activity and availability
- ▪Characteristics of the gambling software and all related programs, as well as the results of their audit
- ▪Personal recommendations received from financial experts from the state where the brand carries out its activity
- ▪A comprehensive business plan
N.B.
- ▪If documents are not in English language or language of particular country, then they must be accompanied by a notarized translation.
- ▪Additional documents may be requested by the regulatory authority or local Bank at any point to certify specific information.