How much does a bookmaker office license cost in Ukraine? Everyone who is interested in the opening of betting business in the country has this question. After all, this is logical: for the conduct of legal gambling, a license is required. Thing is, betting is prohibited in Ukraine. Accordingly, the country does not license casinos or betting shops.
What should an entrepreneur do in this case? For land-based companies, there are no legal options for launching: all such institutions work outside the law. However, in the case of an online office, there is a way out: getting an online gambling license in one of the international jurisdictions. Fortunately, there are a lot of them, and gamblers from Ukraine can safely visit such sites and bet on sports and other events.
Curaçao.
One of the most popular licenses in the world, which is used by more than 70% of all gaming establishments. The sale of licenses is used as one of the ways of filling the treasury. The cost of a permit depends on many factors and varies from 11 to 50 thousand dollars.
Curaçao sets the following rules for obtaining a license:
- mandatory registration with the Foreign Trade Chamber;
- location of servers only inside the country;
- at least one founder must have the citizenship of the Antilles, besides, all the founders must be of the legal age;
- an important condition: the software must be reliable and of high quality.
The Isle Of Man.
It is another prestigious jurisdiction that has been issuing permits for online projects since 2001 and regulating gambling business in general since the middle of the twentieth century. The advantage of this jurisdiction is that the amount of taxes is inversely proportional to the amount of the revenue of an establishment. Is not this a motivation to earn more?
What does the Isle Of Man require for licensing?
- a registration of a legal entity according to all the rules;
- a minimum of two managers;
- a current bank account in the country;
- a large list of documents and references including copies of documents confirming the identity of the founders, copies of statutory documents, software and equipment examination results, etc.
Malta.
A European license means a lot. Its receipt favours the owner of a betting shop because its credibility immediately increases. To conduct a bookmaker business it is necessary to issue a second class license; its issuance takes from four to six months. The decision on each applicant is taken by a special commission; the process itself consists of several stages.
The rules for obtaining a license in Malta:
- the size of the share capital is set at around a minimum of $40 000;
- the mandatory provision of complete information about each founder of the business;
- the company must have several funds of different orientations and provide access to information about its activities.
Gibraltar.
Another European jurisdiction, which licenses various types of gambling. It is considered very prestigious: firstly, the process of selection of licensees is quite rigorous, and secondly, operating a business with this license brings many preferences to the company. The cost varies from 30 to 70 thousand dollars; the document is issued for five years.
The requirements for an institution aspiring to obtain a license in Gibraltar:
- a business plan with prescribed stages of development of the betting shop is mandatory;
- availability of a bank account and a statement of the cash flow;
- high-quality software and website;
- documents confirming the integrity and transparency of the business, namely: the owners' passports, software examination results, recommendations from third parties, etc.
We would like to note one more way to open a bookmaker office in Ukraine — a connection to a franchise. In this case, the owner will not have to get a permit, since it is already included. There is a so-called sub-licensing process, implying that the franchisor inscribes a new participant into his license.
Other advantages of a franchise include:
- a famous brand;
- a product that is ready to make a profit;
- well-established business processes;
- a quick launch.
As you probably already understood from the description of the requirements for potential offices, the correct registration of all the necessary documents is a rather difficult task. There are many peculiarities that a person without experience can simply miss.
Bett-Market specialises in providing consultations on betting business. The company has been engaged in bookmaker services for many years, during which time it has managed to launch a lot of establishments. Bett-Market will help both with obtaining a license and with the purchase of a franchise. This is a reliable partner with which you will start your own successful business.
