How to obtain Antigua and Barbuda Gambling License?
Antigua is a part of the Antigua and Barbuda islands located in the Caribbean. Together, they are an independent country that has rapidly developed after their independence primarily due to the politically stable atmosphere. The country is also famous as an International holiday destination particularly for tourists from the USA, Canada, and Europe owing to its excellent sun-kissed beaches and premium beach resorts.
Antigua is an international financial services hub with many prominent banks and financial service providers having an office on the island. The island provides for a special corporate structure under the International Business Corporations Act which allows for an exemption for companies registered under the Act. In addition to this Antigua also provides a number of other favorable corporate structures. The country has also revamped its regulation of the financial sector through the establishment of the Financial Services Regulatory Commission in 2013.
Antigua Gambling License
Establishing an offshore gaming business is possible through the acquisition of an Antigua Gambling License. The possibility of an Antigua Gambling License for remote gaming in Antigua first arose when the Free Trade and Processing Zone Act was promulgated in 1994. It helped to develop Antigua into a favored jurisdiction for an online gaming license.
The online gaming business received a boost when the Interactive Gaming and Interactive Wagering Regulations were brought into force under Section 351 of the International Business Corporations Act. It popularized Antigua as a preferred destination for a gaming license. Antigua has a separate regulator for online gaming and The Directorate of Offshore Gaming is presently responsible for issuance of all licenses for online gaming and gambling in Antigua and has emerged as one of the most respected regulators of the world. It is also a ‘white list’ jurisdiction under UK Law meaning Antigua Online casinos can receive bets and advertise in the UK. The gaming authorities of Antigua and Kahnawake also created an Inter-Jurisdictional Authorization regime which enables the establishment of servers at both the jurisdictions providing greater flexibility to the licenses.
How to get a gaming license in Antigua
As a well-respected jurisdiction, Antigua has a well set out application process with clear steps for obtaining an Antigua Gaming License. An application can be made for an Interactive Gaming or an Interactive Wagering License. The steps for obtaining an Antigua Gambling License for online gaming are provided below:
Antigua Company Formation:
The establishment of a business entity is the first stage for an online Antigua Gambling License Although Antigua also allows companies registered in other countries to apply for a license, it is highly recommended that a local company is formed under the International Business Corporations Act to acquire tax benefits.
Completion and submission of Schedules
Three schedules need to be submitted for primary evaluation of the application and submitted to the Directorate of Offshore Gaming:
Schedule A — Application for an Interactive Gaming or Interactive Wagering License.
Schedule B — Business Entity Information Package.
Schedule C — Personal Information form to be fully completed by each key person, director, partner, and chief executive officer of the company, including each shareholder with five percent (5%) or more ownership of or controlling interest in the company.
Cost of application and license
The initial fee to be submitted while submitting the Schedules is US$ 15,000 which is non-refundable. In addition to this the following fees need to be paid:
Interactive Gaming License Fee / 100,000 (per year)
Interactive Wagering License Fee / 75,000 (per year)
The annual Renewal fee for each License / 5,000 (non-refundable every year for each license)
Key Person License Fee / 1,000 (for the first year), 250 (every subsequent year)
Reserve requirement / 100,000 (minimum)
Monitoring System Fee / 25,000 (one license) / 45,000 (two licenses)
Hence, the Antigua gaming license cost is dependent on the type of license which is required and the number of key persons in the company. Key persons here are persons occupying important positions as specified in the regulation
Establishment of equipment and systems
Antigua requires you to establish servers within the jurisdiction of the country. Also, the equipment used for the purposes of gaming needs to validated from an approved service provider as per the regulations.
On completion of all the processes, the website can be started and the details of the licensee are updated on the website of the Directorate of Offshore gaming. A special seal called Antigua Gaming Preferential Seal can also be used on the website of the licensees stating the validity of their licenses.