May 21, 2024

Obtaining Licenses In Gibraltar: A Basic Guide For Beginners

Gibraltar is popular for having one of the most economically-attractive jurisdictions in Europe. The aim of local legislation on gambling is for gaming operators to secure a tax advantage.

Benefits

Having a gambling license in Gibraltar also helps to maintain a high-level reputation. Other benefits include:

  • Government guarantees for licensees;
  • Low taxation for large players;
  • Possibility of obtaining a legal Merchant Account; and
  • Prestige and high reputation of the jurisdiction.

Types of licenses

Applicants have the option of splitting the online and offline gambling activities. There are four types of gambling activities:

  • Casino gaming;
  • Betting;
  • Lotteries; and
  • Social gaming.

Gambling licenses in Gibraltar have two large categories: B2C and B2B.

B2C

Companies with a B2C license offer direct gambling, including casino online. Examples are:

  • Remote Gaming B2C Operator
  • Remote Betting B2C Operator
  • Other remote B2C Gambling Products
  • Non-Remote B2C Gaming Operator
  • Non-Remote B2C Betting Operator

B2B

Companies with a B2B license can develop the needed software for companies with B & C licenses. They can also support them. An example is the Gambling B2B Support Services.

Eligibility and requirements

Obtaining licenses in Gibraltar is not easy. Gibraltar have a set of requirements for applicants of gambling licenses:

  • impeccable reputation of shareholders and directors;
  • open bank accounts in Gibraltar;
  • proven gambling industry experience;
  • realistic business plan;
  • fully-paid duty of £100,000 for a B2C license and £75,000 for a B2B license; and
  • a license in another jurisdiction.

The licensee needs to ensure the truth and accuracy of all promotional activities.

Documents

The applicant should have the entire package of necessary corporate documents. Future licensee should provide the following:

  • a copy of the gambling business license;
  • confirmation of the ability to pay out possible winnings;
  • confirmation of financial solvency of founders and beneficiaries;
  • confirmation of the sufficiency of the company’s funds;
  • financial reports;
  • identification documents; and
  • verification of the addresses of owners, founders, directors, and other authorized persons.

Cost

Gibraltar gambling license costs around £30,000, depending on the type of gambling and the structure of the company. Several types of online gambling need separate licenses for each class.

Taxation

Gambling in Gibraltar has very low taxation. It is only 0.15% of revenue. A company with a B2B license pays a license fee of £100,000 per year. A company with a B2C license pays £75,000  per year for its license fee. The fees are regardless of income.

The procedure takes about 14 to 90 days. The length depends on the license type and the period of document verification.