Rayness Analytica has numerous Clients in the e-gaming serviced / industry, and we provide them with specialized consulting services to set up their online gaming business in their preferred jurisdiction. We support online and networking gaming start-ups by offering the following business support services:
- International banking facilities;
- Payment provider services for Online Gaming;
- Office premises;
- Gaming licensing services;
- Accounting and VAT support services;
- Liaising with regulatory authorities and government bodies;
- Gaming legal advisory services;
- Gaming management system setup and management services;
- Recruitment, relocation and migration services;
- Local server hosting;
- Data and disaster recovery;
- Data Protection Act registration.
E-gaming business – jurisdictions comparison
| Jurisdictions | Gibraltar | Malta | Isle of Man | Philippines | Curacao | Costa Rica | Panama |
|---|---|---|---|---|---|---|---|
| In order of preference | 1 | 2 | 3 | 4 | 5 | 6 | 7 |
| Type of entity | LLC | LLC | LLC | SP | NV | SRL | LLC |
| Is a resident director required? | No | No | Yes | Yes | Yes | No | No |
| Min # of directors | 1 | 1 | 2 | 1 | 1 | 1 | 3 |
| Is a resident shareholder required? | No | No | No | No | No | No | No |
| Is a local agent required? | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| Min # of shareholders | 1 | 2 | 1 | 1 | 1 | 2 | 1 |
| Corporate shareholder allowed? | Yes | Yes | Yes | No | Yes | Yes | Yes |
| Type of license | Remote gambling license | Remote gambling license | Full License | Interactive Gaming license | eGaming IP License | No specific license | Internet Gaming License |
| Application submission Government fees (US$) | None | 2,800 | 8,000 | 40,000 | None | None | 40,000 |
| The frame to prepare an application | 3 weeks* | 3 weeks* | 3 weeks* | 3 weeks* | 3 weeks* | 1 weeks | 3 weeks* |
| Timeframe for Government preapproval | 4 weeks | Not required | Not required | Not required | 1 week | Not required | Not required |
| Annual license cost | £2,000 | US$8,500 | £35,000 | US$60,000 | US$67,200 | N/A | US$20,000 |
| Are application forms available? | No | Yes | Yes | Yes | No | None required | Yes |
| Timeframe to obtain a Government license | 3 months | 5 months | 4 months | 2 months | 2 months | None required | 2 months |
| License valid for | 1 year | 5 years | 5 years | 1 year | 5 years | None required | 7 years |
| Regulatory authority | Gibraltar Regulatory Authority | LGA Malta | Gambling Supervision Commision | CEZA | CIGA | None required | The Gaming Commission |
| E-Gaming regulation? | Yes | Yes | Yes | Yes | Yes | N/A | Yes |
| Easy to obtain? | No | Yes | Yes | Yes | Yes | N/A | Yes |
| Player protection of funds | No | No | Yes | No | Yes | No | Yes |
| AML regulation? | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| Corporate tax (%) | 5 – 35% | 0% | 0% for 6 years | 2% | 30% | 0% | |
| VAT registration required | No | Yes | Yes | Yes | No | No | No |
| Other taxes? | Annual tax 1% of turnover, Min. £85,000 per annum |
Depends on Class 1-4 | None | 5% Special tax | None | None | None |
| Annual report | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| Audit | Yes | Yes | No | Yes | No | No | Yes |
| Public register of shareholders? | Yes | Yes | Yes | Yes | No | Yes | Yes |
| OECD White list | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| Offshore company allowed? | No | Yes | No | No | Yes | Yes | Yes |
| Offshore bank account allowed? | No | Yes | No | Yes | Yes | Yes | Yes |
Our clients must be aware of their personal and corporate tax obligations in their country of residence and domicile, and they will fulfil those obligations annually. Let us know if you need Rayness Analytica’s help to clarify your local and international annual tax reporting obligations.
If you have any further questions or concerns, please get in touch with us via our contact page or email at rna@raynessanalytica.com. We aim to become your preferred choice for online business lawyers.
FAQs
Frequently asked questions about E-gaming Services
What support services does Rayness Analytica provide for online gaming start-ups?
Rayness Analytica offers support services including international banking facilities, payment provider services, office premises, gaming licensing, accounting and VAT support, regulatory liaison, legal advisory, management system setup, recruitment, server hosting, data recovery, and data protection registration.
How do the jurisdictions for e-gaming businesses compare, and which are most preferred?
The jurisdictions are ranked by preference as Gibraltar, Malta, the Isle of Man, the Philippines, Curacao, Costa Rica, and Panama, with Gibraltar being the most preferred. Each jurisdiction varies in legal structure, licensing requirements, costs, and regulatory framework.
What are the essential legal and regulatory considerations for setting up an online gaming business?
Key considerations include obtaining the appropriate gaming license, complying with AML regulations, protecting player funds, registering for VAT if required, maintaining annual reports, undergoing audits, and ensuring transparency through public shareholder registers.
What are the typical licensing procedures and costs associated with different jurisdictions?
Licensing procedures involve application preparation, government approval, and fees ranging from none to several thousand US dollars, with timeframes of 1 to 5 months depending on the jurisdiction.
What are the tax obligations and benefits for online gaming businesses across various jurisdictions?
Tax obligations include corporate taxes, VAT registration, and other applicable taxes, which vary per jurisdiction. Some, like Isle of Man and Costa Rica, offer zero corporate tax, while others impose from 2% to 35%. Businesses must also fulfil annual reporting and auditing requirements.
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