Gibraltar is the EU member and one of the Great Britain territories, located on the Iberian Peninsula. This tiny country with only 30,000 citizens is one of the most authoritative gaming jurisdictions and profitable offshore area.
Gibraltar started issuing gaming licenses in the beginning of 1998. Nowadays, this activity is regulated by Gambling Act adopted in 2005, which contains all major rules of obtaining gaming license. Operators performing gambling business under the Gibraltar license obtain the whole range of tax advantages, government guarantees and a status of the company possessing the license from one of the most high-profile gaming licenses body.
It should be emphasized that Gibraltar jurisdiction appreciates its reputation and issues licenses only to companies that had licenses from other authoritative bodies previously and have proven themselves as stainless and reliable companies. Licenses are issued by the Licensing Department, which is authorized to issue several types of licenses, depending on the gambling type: casinos, betting shops, slot machines rooms, lotteries. The Gambling Commission regulates the activity.
Nowadays dozens of online gambling casinos work under the Gibraltar license.
The absence of initial payment while submitting an application and low costs for licensing, including the jurisdiction reputation, make this jurisdiction one of the most attractive for gambling business entrepreneurs.
The cost of the license depends on the gambling type and the company structure. It may be between $30 and $70 thousand. The license is issued for 5 years with the annual extending cost around $2800.
Each type of gambling activity requires a certain license.
Gibraltar taxation is one of the main advantages of this jurisdiction. Gambling business tax is 1% from revenues. Moreover, tax can’t be higher than £425,000 and lower than £85000 per year. This tax is very profitable and almost zero for huge companies with higher revenues. Tax is levied on a common basis for all gambling business types.
Gibraltar license advantages
The Gibraltar license is the license for high gambling society. Young, starting companies, especially with doubtful reputation, have almost no chance to get this license. Requirements are too high. Thus, only experienced and established gambling industry representatives apply to this jurisdiction to get a certain status.
Main Gibraltar gaming license advantages:
- prestige and high reputation;
- profitable taxation – 1%;
- high government guarantees;
- gambling activity security;
- reliable legislation and sustained economy;
- possibility of opening Merchant Account.
Gibraltar is considered to be the ultimate offshore zone for performing gambling activity. The local legislative framework corresponds to the contemporary level and contributes to gambling development. High political stability, banking secrecy, absence of financial transactions control also make this jurisdiction attractive.
A great amount of big companies transferred their business into Gibraltar jurisdiction.