Case: Obtaining a single gambling license to cover several types of online casinos

What was the client's request?  

They needed to obtain a gambling license quickly. Launch an online casino. License requirements — the ability to add multiple URL addresses, the ability to cover different types of games with a single licence, 0% income tax, permission to operate with cryptocurrencies and virtual assets.

Why did the client decide to contact us instead of trying to accomplish the task on their own?

Initially, the client was looking for a company that professionally deals with obtaining licenses and did not want to submit the request on their own:

• there could be financial losses when paying duties and fees without a guarantee of a positive result;
• there would be a loss of time due to delays in the project launch if the application had to be resubmitted;
• errors in the documents or choice of jurisdiction could lead to the licence being denied;
• lack of knowledge of legal requirements could result in the business being blocked and fines being imposed.

What solution did we propose and why?

We suggested considering a gambling licence in Anjouan, as it was the best fit for the client's request:

• it takes 10-12 weeks to process;
• low license fees;
• the license covers all types of gambling without additional permits;
• AML policy requirements in Anguilla are lenient, which simplifies the preparation of internal procedures and reduces the burden on the company.

Were there any difficulties in resolving the request? If so, what were they?

• The client considered various offshore options for registering the company:
• The Marshall Islands. A fairly popular offshore location with virtually no reporting requirements, but the client was unaware that gambling is prohibited there.
• Costa Rica. This is an expensive solution, and there are more advantageous alternatives.
• We convinced the client to consider registering the company in Saint Vincent and the Grenadines. The conditions there are more favourable for gambling companies. 

How long did the case take?

It took 10 weeks to obtain the licence.

What specialists were involved?

• Tax consultant; 
• Company registration manager; 
• Gambling licensing specialist; 
• Intelligent Solution Group banking specialist.

The client communicated with only one manager, which saved him a lot of time.

Result?

• There is an offshore company in the SVG.
• A bank account has been opened.
• Due diligence checks on the company's directors, shareholders and beneficiaries have been completed.
• Internal AML instructions for obtaining a licence have been prepared.
• The Anjouan gambling license has been obtained.
• The business has been launched.