Costa Rica Gambling License: Is it Real?

Costa Rica is a popular jurisdiction and often mentioned several times by many providers. People are trying to provide consultation on how to apply to Costa Rica. Well the truth is that there are no such thing as the Costa Rica gambling license. This is because there is no standing authority that regulate gambling in Costa Rica. 

Things such as framework and infrastructure also does not support gambling. But this does not mean that you cannot form a company within the Costa Rica jurisdiction. Because people can still form their company in this jurisdiction.

There are dozens of corporate service provider that offers their service. These companies are going to label it as if they are trying to sell a Costa Rica license. But then the price is also too expensive for anyone to get a license in Costa Rica. And it is not really a license anyways. Instead you can apply in other trusted licenses instead.

Costa Rica is only a jurisdiction that allows companies and foreign operators to conduct their activity. You will not be regulated whatsoever as long as you pay taxes and small fees. But up to this date, any country can basically be created and incorporated in Costa Rica.

Costa Rica that is a region visited by many companies. It is not a place to get a license, but it is a much better one. You can start doing business and offer gambling games for startups. 

Small businesses that do not want to pay money at all can apply to this jurisdiction. Costa Rica is perfect to test the new games or new softwares that have just been created. The popularity of Costa Rica made is one of the best testing grounds for new companies.

Let us dig a bit deeper on how Costa Rica can be beneficial for you. Read along this article to find out more.

Why is Costa Rica the Best Options Today?

Costa Rica is a place that is known to serve customers by incorporating their company within the region. The region itself is very stable in terms of social, economical, and political. Costa Rica is located in Central America. 

It is a place that is friendly towards all of the businesses and small companies. Costa Rica only operates out of its own jurisdiction. They still make online gambling illegal. But you can provide games for customers out of the region.

Up to this point, any company is welcomed to operate freely. Just make sure that you do not allow any local players to play. Because there may be consequences and sanctions. You do not need to provide any requirements just to apply.

 We highly encourage any business owners who are working in the field of cryptocurrency. Cryptocurrency is a very booming trend and many casinos are adapting it as a payment method. Costa Rica supports this innovation and you can apply your company today. They even allow you pay your own workers with cryptocurrency.

Companies can get a lot of benefit because you do not have to get a 3rd party payment provider. The crypto ecosystem is much more effective. You can get all of the money deposited into your account in a much faster time. The region already supports crypto and new companies can directly test their casino in Costa Rica

Companies will be given the infinite amount of flexibility. You can use Costa Rica as a temporary region and jurisdiction which allows crypto casinos. But eventually you are also going to have to move out and find another jurisdiction. 

Costa Rica allows this transition so that you can find a more suitable license provider. One of which is that you can try a license from Curacao or Isle of Man. Those two licenses are the most suitable ones.

Frequently Asked Questions About Costa Rica License

Down below are some of the answers to the questions you may have been inquiring. Take a look and see if it helps:

– Is the Costa Rica Gambling License real?

Unfortunately, Costa Rica does not provide a gambling license that is issued legally. Hence there is no existence of things such as regulations and etc. Costa Rica still provides games that is easily enjoyable by many people. 

Right now, companies do not make to incorporate or move their company to Costa Rica. This is usually one of the most complicated issue to face when forming your online casino.

To make it more clear, Costa Rica license does not actually exist. You can still move into Costa Rica and bring your base of operations along. After that, you can then start operating without being regulated at all. The only important regulation is that you cannot bring your games to anywhere inside the region.

– How to get a Costa Rica Based Gambling Company

Costa Rica has been providing permission for companies to operate a lot. As for right now, people are given two options to start making a company. The first option is that they can incorporate their company within Costa Rica. 

This will be recognized as a shell company and then transferred to the related clients. After that, companies can be renamed and transferred again later on. Online gambling in Costa Rica will also be assisted with all of the local legislation.

The second option is that you can use a third party provider. A third party provider is able to help you with this process but there are some rules. You are required to submit all paperwork and do some background check. 

All must be in accordance to the Costa Rican regulations.  Upon submitting all the paperwork then your company can start to operate.

– Is it Allowed to Open an Online Gambling Company in Costa Rica?

It is not allowed for a jurisdiction to allow company to open a bank account. Costa Rica deems this as illegal and this is unregulated at all. You can still open an offshore account if you want to. 

If not, then you may see other alternatives such as a cryptocurrency account. To get your bank account, then prepare a license to get this access.

Can I Accept US Based Players to the Online Casino

US based players are never allowed to access a website especially the one without any license at all. In the United States, the federal license does not serve the whole nation anyways. United States is formed by many different small states. 

That is why getting one license only or even a jurisdiction like Costa Rica is not enough. Do not try to offer services to Costa Rica or there may be convictions which breaks the law.

Are you Supposed to Disclose the Shareholders of Company in Costa Rica?

There are certain regulations in Costa Rica that is specifically set for the business owners. You are required to provide necessary information that discloses the name and identity of shareholder. Not only that, this also includes all other shareholder.

Such as the directors, manager, owners, and etc. All of the documents must also go along with the identity card, passport, and so much more. Do not worry because your identity will always be kept safe.

On top of that, owners will also need to have a representative available with them at all times. This is also known as the power of attorney to the third person. Their role is to appear locally in a region when there is a meeting provided. And then, these attorney will also be able to notarize and legalize the data required.

Are There Fees and Taxes?

There is no such thing as fees or taxes in Costa Rica. These companies that come into Costa Rica will be tax free forever. All of the money they gained is only counted from outside of the country. The profit that a company makes can be managed 100%.

Of course you may have to pay a small amount of fees. After that, there will be transactions in cryptocurrency and this is much cheaper. You do not have to pay fees to a third party service.

These kinds of transactions cannot be regulated at all. Hence making Costa Rica a tax haven for many owners.

Cost of Getting a License in Costa Rica

Costa Rica has no license at all, so you basically do not have to pay. License does not appear in these jurisdiction. However, there are some expenses that you also need to pay. This is known as the set up fee in the region.

Costa Rica will require any business owners to pay a small amount of fee. This can range from a couple thousand dollars only. Do not be alarmed because the services provided will be worth it. And imagine a flexible jurisdiction that will not force you to get a license at all.

What is Included in the Costa Rica Turnkey Package

Costa Rican gambling companies will be shocked with this amazing deal:

  • Valid and legal company name
  • Registered companies
  • Notarization and legal help to move names
  • Prepared help with translation

The whole process takes around 2 to 3 weeks. This may be faster if your documents are also submitted at a faster rate.

Requirements to get a Costa Rican Gambling Company

Costa Rica is the best choice for you. If you want to apply, then you need to know some of the requirements. The requirements that you are going to notice will be explored once you try to consult. 

We suggest that you consult a third party provider with a small amount of fee. There are many companies that already have joint partnership with Costa Rica. But beware because they will try and sell you a license which is not real.

Benefits of Costa Rican Jurisdiction

Of course applying and getting into Costa Rica comes with its benefits too. Some of these benefits are such as online slots, sports betting, and so much more. On top of that, you can do some additional things too in Costa Rica. 

For example, you are going to get services from all around the world. There will be many partnerships that is going to sponsor your crypto casino. Of course the service provided can only be the one outside of Costa Rica.

On top of that, other benefits also include the flexibility to freely operate a crypto  casino. Crypto casino is still within the gray area. That is why not many companies are able to offer this service to the majority. 

The regulations is much harder for a company to get a license. That is why companies will have to apply to Costa Rica instead. Because Costa Rica supports both fiat and crypto at the same time.

Here are some additional benefits:

  • Fast setup
  • Cheap and affordable for new companies
  • Flexible regulations
  • No restrictions on staff structuring
  • No initial fees that are too expensive
  • 0% Taxes