Costa Rica Gambling License
The situation in Costa Rica regarding gambling is quite interesting, to say the least. This is because Costa Rica doesn’t have an official regulator, nor a licensing authority. In fact, Costa Rica doesn’t have any concrete gambling laws, or any regulatory framework regarding iGaming, for that matter. However, this doesn’t mean that you can’t operate an online gambling company from Costa Rica. Quite the contrary. There are many gambling businesses that purposefully choose Costa Rica to start an iGaming business, despite the fact that Costa Rica doesn’t issue gambling licenses officially.
As per the current interpretation of the Costa Rican gambling law, the act of online gambling refers to the place where the transaction between the operators and the players is processed, instead of the location of the operator. In other words, while there is no way to obtain a state-issued gambling license, the government of Costa Rica allows online gambling businesses to operate in the country as long as they don’t offer their services to citizens of Costa Rica and they don’t use local banks to process their transactions.
Costa Rica Gambling License – Definition
With that being said, the definition of a Costa Rica gambling license is a company that is registered in Costa Rica and that legally provides online gambling services. Due to the unregulated gambling situation in Costa Rica, you can view this situation as a somewhat unwritten agreement between the gambling companies and the Costa Rican government. The only requirement to legally offer gambling services in Costa Rica is to register a company with the Ministry of Commerce, Industry, and Economy where the company is established, meaning that the only requirement is physical presence.
From here, the government of Costa Rica still has several requirements before allowing a company to set up a gambling business. However, all of these requirements are regarding documentation for registering a company, and they include:
・Certification of corporate identification and legal corporation of the company
・The ID of the applicants, in addition to a certification of the place of residence issued by the Immigration Department of Costa Rica for foreign applicants
・Right to use the premises/land – (eg. a rental contract of the office space, etc.)
・Certification of previous tax obligations fulfilment
Consequently, this means that while a Costa Rica license is not an official license issued by official regulators such as the Malta Gaming Authority or the UK Gambling Commission, it is still a seal of approval that shows an official gambling business run by legitimate owners. In fact, many offshore gambling operators that provide their services across several continents operate their businesses from Costa Rica. Similarly to this, many of these Costa Rican operators are proven gambling operators with decades of experience in the iGaming world.
Benefits Of The Costa Rican Gambling License
Furthermore, the biggest reason why many choose Costa Rica to open up an iGaming business is due to the lack of taxation on online gambling revenues. Needless to say, gambling is one of those activities that almost exclusively suffer great taxation in most countries throughout the world. Costa Rica, on the other hand, being an unregulated market, is an iGaming haven for all operators that wish to cut costs and not pay huge taxes.
In addition to this, Costa Rica is an excellent choice for several geopolitical reasons as well. For example, Costa Rica is an economically, politically, and socially stable country, with a rather business-friendly government. Moreover, it is a country that openly encourages the use of cryptocurrencies, and as such, has a definitely positive attitude when it comes to online gambling and online gambling operators. As long as these operators offer their services offshore, or to players outside the country, there are no issues whatsoever. However, breaking the law may have dire consequences, being that the Costa Rican government is quite harsh on illegal gambling practices.
In light of this, and as we already said, one of the main reasons why many operators go for Costa Rica is due to the open-minded nature of the country toward crypto. Not only does the government in Costa Rica encourage the use of crypto, but they also allow employers to pay employees in crypto, as long as the amount surpasses the minimum wage. Being that there are no laws for online gambling operators that want to use cryptocurrencies or digital payment methods, for that matter, Costa Rica is considered the perfect destination for entrepreneurs and startups that wish to use crypto to conduct payments.
From here, the gambling company will then have the option of whether to continue offering its services in Costa Rica by using solely crypto payments or to move to a different jurisdiction that supports the use of both crypto and fiat and that provides an official gambling license. Many gambling businesses use Costa Rica as a startup, or a “sandbox” environment, where they test the waters. After they establish a solid base of players and steady income, some operators decide to acquire an official gambling license (eg. Curacao, Kahnawake, MGA, etc.), while some remain and Cosa Rica and provide their services as offshore gambling providers.
Are Operators With This License Reliable?
Consequently, online gambling operators from Costa Rica are generally considered safe and reliable, despite the fact that there is no official license. In fact, many of the best-rated offshore iGaming businesses are from Costa Rica, considering the history between these operators and the country. And even more impressive, many of these offshore iGaming operators provide their services specifically to the US, making the US market one of the top priorities, and one of the biggest reasons why they decide to open up a shop in Costa Rica.
So, do not be worried, and rest assured that Gamblers Connect will present you with nothing but the finest iGaming operators from Costa Rica. Due to our extensive experience in the world of online gambling, as well as our strict criteria and meticulous research prior to recommending a casino, each of the casinos with a Costa Rican license are reliable and transparent operators. Your well-being is our top priority, and this is why we will never allow anything to comprise that, especially since it is our duty to keep you safe. In other words, you have literally nothing to worry about.