Costa Rica Gambling License How to get a Gambling License in Costa Rica

According to the current interpretation of the law, online gambling takes place where the transactions between player and operators are processed, rather than where the operator is based. Costa Rica does not issue a dedicated online gambling license, and no municipal authorization is required. Operating from Costa Rica is based on company registration (S.A. or SRL) with a registered address.

Market Growth and Size

Plus, we offer support to help you understand Costa Rican laws and assist with risk management and sticking to international standards. Despite its status as a major hub for the booming iGaming industry in Latin America, Costa Rica doesn’t actually regulate — nor license — online gambling operators. And yet, there are ways to establish a fully legal online gambling company in Costa Rica.

Advantages of a Costa Rica Offshore Gambling License

Bear in mind that the exact gambling license cost depends on a business type and get in touch with us ASAP in case you need further details. While there’s no formal Costa Rica gambling license cost, there are still expenses involved in setting up. The total cost depends on a business model, service specifics, and other nuances. It includes things like consultations, company registration, required documents, and creating website policies. For more details, please contact the NuxGame legal services department — we’re always here to help. While companies can register and operate, accessing local banking services may be challenging.

Compliance with international standards is one of the most critical factors for stable project operation in global markets. Since the government does not issue direct gaming licences, it has no specialised body assigned to control the activities of niche firms. The absence of strict supervision allows managers to work more freely and quickly adapt to changes in audience demands. Nevertheless, platform owners must independently implement responsible gaming programs. Finally, ensure that all licenses, permits, and registrations are renewed on time.

A Costa Rica gaming license (or, more accurately, data processing license) provides an excellent opportunity for start-ups to pilot test their business concept before committing significant resources to licensing. It allows them to trial their software, website, and the popularity of their platform with their target audience, before taking their business to the next level. Costa Rica has gained incredible popularity among crypto projects and is now a favorite for decentralized projects, GameFi, crypto casinos, DEXes and NFT marketplaces. Already famous for the Costa Rica gambling license, this offshore jurisdiction provides the most cost-efficient environment for virtual asset service providers.

A single company may run multiple brands and domains under the same corporate setup. The first step for establishing a business in this jurisdiction is to register a company. The entire process, including the preparation of a package of documents, typically takes approximately three weeks. A company with the proper legal preparation can perform crypto activities in Costa Rica. Legal support and documentation is necessary to avoid breaching the law or raising red flags to third parties, such as your community or banking institution for example. ICO, IEO, ITO, INO and the likes are also effectively conducted from Costa Rica, thanks to the permissive regulation.

Operating without a valid permit could expose the company to closure by municipal authorities. Fortunately, renewals are straightforward and inexpensive, so compliance in this regard is low-effort. The player base in Costa Rica is also already considerable, with over 1.4 million active gamers. This figure is indicative of a high level of penetration in terms of population, as well as a significant value for the territory’s iGaming stature within the region. Enhancements in the availability of high-speed internet and mobile devices have further fueled this growth, opening online gambling access to a wider demographic of consumers. Also, if you are interested in learning about Costa Rica and the other gambling jurisdictions of the region, you can download our free eBook, “iGaming in Latin America”.

This means that local online casinos in Costa Rica cannot offer gambling services to citizens of the country. However, even given these restrictions, a casino license in Costa Rica represents a particularly attractive proposition for international businesses. In effect, this is not a gaming license in the traditional sense but a broad authorization that lets a company engage in any form of online betting. Therefore, we can say Costa Rica has a single-tier licensing system for iGaming. While the country doesn’t issue specific gambling licenses, you’ll need a Data Processing License to operate an online gaming company.

Properly set-up crypto companies in Costa Rica are free to operate legally, as long as their operations stay within the borders of all applicable laws. No law is currently addressing cryptocurrency businesses, meaning that crypto companies are in essence liable to operate freely in this jurisdiction if they comply with the applicable laws. Costa Rica has a rather lenient taxation regime when it comes to crypto companies.

This creates a favorable environment for international businesses, allowing them to reduce their tax burden and optimize profits. For a quick and successful registration of your company, contact the experts of Gofaizen & Sherle. One disadvantage of a Costa Rica gaming license is that, due to the lack of a legitimate license, you will not be able to accept payments from standard merchants and payment providers like Visa and MasterCard. Alternatively, you may accept cryptocurrency payments first and then add fiat money if you choose to seek for a license in another country down the road. Last but not least, Costa Rica’s recognition of cryptocurrency payments is a major advantage, too.

This number incorporates both traditional land-based gambling and casino-style wagering through online gambling, where online gambling continues to gain traction due to technology adoption and changing consumer preferences. The absence of regulatory oversight is an attractive proposition for operators who are less attentive to compliance. However, players tend to favor licensed casinos in markets with clear regulations and player protection measures, making Costa Rican casinos less attractive to more knowledgeable users. Protect your ideas, your team and demonstrate trustworthiness to your community and to third parties.

Below are the corporate, technical, and compliance elements typically involved. Costa Rica, known for its stable democracy and innovative perspectives on technology, has now become an important destination for the global iGaming market. Strict laws and regulations apply in Costa Rica and worldwide for FinTech companies, including VASPs. Subsequently, FinTech lawyers will prepare accordingly when setting up an offshore crypto licensed company in Costa Rica, to ensure the legality of the processes and operations of the business. Of all the available options for getting a crypto license, Costa Rica offers one of the fastest and simplest processes.

Lack of popular payment providers.Since there is no real gambling license in Costa Rica yet, companies cannot work with providers that are familiar to everyone – Visa, MasterCard, and others. They related themselves with the gaming world by using their specific skills. Felipe likes drawing, Andrés’ passion is programming and Alberto focused on design.

The Cartin brothers have more than their companies success, they actively participate in government activities that seek gaming develompent in the country. These companies have the government to thank, Costa Rica’sforeign trade promoter qualify them as essential for the economy. Currently, almost half of these new entrepreneurs export their games, since the national market is a reduced one. How long does it take to register a business and open a casino in Costa Rica? Usually, no more than 1 month, which is also a significant advantage of the jurisdiction. To understand the legal landscape surrounding the burgeoning Costa Rican gaming community, TicosLand.com spoke with Lic.

The Myth of Online Casino License in Costa Rica: What It Really Is

Costa Rica is one of the most popular iGaming offshores of recent years. The state attracts investors with a favourable legal environment and high economic efficiency. Ensure that all advertising content complies with local laws, including those concerning truth in advertising and the prohibition of misleading claims. It’s wise to have your advertisements reviewed by legal professionals familiar with Costa Rican regulations to avoid any pitfalls. However, according to local legislation, the company can obtain a data processing license in Costa Rica. In Costa Rica, the launch of a gambling business is simplified due to the minimum requirements for verification of companies and the lack of need to collect a large amount of documentation for regulators.

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• But later laws and government decisions allowed for a legal gambling industry to grow.
• If you’re planning to hire employees in Costa Rica, be prepared to comply with the country’s labor laws.

To sum up, we can conclude that Costa Rica is a perfect jurisdiction for gambling sites operators that are just starting their journey in the world of virtual gaming. You just need to pay for the company registration, with no licensing fees or taxes. Moreover, Costa Rican laws allow you to run a crypto casino that accepts bitcoin as a payment method. In practice, operators also secure a Legal Opinion – an official document prepared by a licensed Costa Rican lawyer. This legal opinion confirms that the company’s planned online gambling activities (conducted abroad, with no curacao casino license Costa Rican players) comply with Costa Rican law.

This license allows you to conduct activities such as online casinos, sports betting, and other iGaming operations. Costa Rica’s iGaming space is made up of a range of locally-owned start-up businesses and international businesses that have made an operational or administrative base in the country due to its flexible regulatory environment. Costa Rica does not offer formal online gambling licenses, but rather companies build their operations in the country using a Data Processing License, which allows them to operate legally in their target international markets.