An effective way to enter the gambling market of Europe – get an Estonian gambling license. This document will continuously work in the gembling industry. The company with this license receives international status and individual entrepreneur number in the European Union.
- Features of the gambling license obtained in Estonia
- What needs to be considered when receiving
- Requirements and rules for potential licensees
- List of necessary documentation
- Cost of license in Estonia and taxation
- Issuance of a license for gambling business
- The advantages and disadvantages of the gambling license
- Possible causes of refusal to receive a document
Features of the gambling license obtained in Estonia
You need to get 2 permissions. First – for gambling. It is issued once and is valid until the company is closed. Often due to slots, lotteries, rates for events and live dealers games. Second permission – to the organization of gambling activities.
Every 20 years it is required to update. Permission to organize gembling business allows you to open an online casino and maintain it.
The club that wants to get an Estonian license must have the following information in the description of each game:
- Brand name;
- return percentage;
- Communication options with casino representatives.
What needs to be considered when receiving
Before getting a license, you need to choose how a new company will be legally executed: a limited liability partnership (TOO) or a joint-stock company (AO). It is better to hire an auditor and consult on this issue with him, t. To. Before opening a casino need to take into account many nuances.
Starting capital requires at least 1 million euros – this is the main money. In addition, reserve funds are required, accounting for 1/3 of shareholders’ capital and 1/7 of profit. The reserve fund is formed until the desired amount is collected, providing financial security of clients of the gambling club. This is done in order to in the case of the online casino or suspension of its work, each win has been paid.
Requirements and rules for potential licensees
First of all, future gambling activities should be honest and transparent (both for the Government of Estonia and for customers). It is required to provide complete financial statements.
Full list of requirements and rules for a potential licensee:
- have an office in Estonia;
- Register a company in Estonia;
- familiarize yourself with the legislation of the country and follow him;
- All people working in the company and related to it, ranging from the owners or founders and ending with employees, should not be condoms and connections with illegal gambling business;
- The application for the implementation of activities is first considering and approves the tax service, then the customs (if the company registers a citizen of Estonia, is not required for the second hand);
- The obtained license for the maintenance of gambling business can not be transferred to another physical or legal entity;
- The work of the casino is carried out only within the gambling-indestor;
- The company must have appropriate slot machines, live games, lotteries, betting tools, etc. Depending on the direction of work (accordingly, it is necessary to submit documents and agreements with suppliers of games and other tools for gambling);
- All clients of the game club must be adult;
- Confirm the financial independence of the future casino (for this you need at least 2 million Estonian crowns).
These requirements are fairly loyal, especially in comparison with other gambling commissions.
List of necessary documentation
The application for a license must be accompanied by the necessary papers and references.
Documents required from the licensee:
- Information about the founders of the institution (copies of passports, addresses of residence, discharge from banks).
- Copies of documents in which the final composition of the company’s managers and the Board of Directors are approved (if available).
- Contracts and payment documents confirming the availability of an office.
- Detailed business plan for 2-3 years with detailed financial calculations and several casino development options (in cases of high and low profits, for example).
- The list of all available methods of replenishing the account and withdrawal of funds (most often, the Igor Commission itself checks the payment instruments, using the site as a gembler).
- Safety Safety System Description.
- Documents and agreements on the preservation of confidentiality of information related to users of the Internet casino.
- List of games in a gambling club with a detailed characteristic of each of them (type, return, rules, etc.).
- Certificates from the bank confirming the availability of the required monetary amount (assure the notary and send the original).
In rare cases, the Igor Commission requests additional documents. For example, credit history. But this happens only in the event of suspicion concerning the applicant’s solvency and reliability.
Cost of license in Estonia and taxation
For the application to be accepted and reviewed, you need to pay 3 thousand. Euro. This is due to the fact that the Gambling Commission will carefully check the company. In case of refusal to issue a license, money is not returned.
After approving the application of the licensee, the analysis of gambling business begins (cost – 48 thousand. Euro) and opening online casino (32 thousand. Euro). When organizing a bookmaker or casino, both duties pay. But if the license is needed only for the gambling provider, they pay only for the analysis of activities (48 thousand. Euro).
ONLINE CUSINE SUBJECT – 5% of PROFIT. Game tax depends on their type: 1278 euros per gaming table, 300 euros for each slot, 10% from each rate less winnings (for bookmakers). If the company is engaged in holding lotteries, the tax will be 18% of income.
Issuance of a license for gambling business
The license for the organization of activities is valid for 10 years, but for a separate casino – 5 years. The document allows you to work not only on the network – it is possible to open ground-based gambling institutions related to gambling.
The advantages and disadvantages of the gambling license
- relatively small financial costs;
- license life – 5/10 years;
- low tax requirements;
- Easy to receive;
- inclusion in the European Union registry;
- support by the authorities of Estonia;
- Receipt speed – 3-6 months.
- Need an office in the country;
- not such frequent checks as in other gambling commissions;
- age restrictions.
Possible causes of refusal to receive a document
In obtaining a license, refuse if any of the founders and employees has a conviction or connection with illegal institutions in the past. Also, the application will be rejected if the previous companies of the owners went bankrupt either possess a dubious reputation, and also if a business is not considered to be revenge.