Curacao has been a prime go-to iGaming license jurisdiction for a variety of years, offering flexibility for operators. But shifts regarding the licensing structure have recently arisen. Most notably with LOK (Landsverordening Online Kansspelen) law coming into action, transforming the scene and breaking the attention of operators.
LOK Law A Big Step Forward or an Overstep?
The Curacao Parliament received the LOK, marking a significant step forward for the iGaming regulatory landscape. Finance Minister Javier Silvania highlighted the joint efforts with the industry to build a modern and solid regulatory framework. LOK addresses the lack of centralized control through a holistic yet realistic approach. Curacao’s decision signals transformative progress for the island’s iGaming sector and clearly demonstrates its commitment to regulatory evolution.
New Fee Structure Navigating Its Impact for iGaming Operators
The LOK law introduces a crucial pricing structure that directly impacts operators and software providers working under the Curaçao license. This clear framework helps businesses plan ahead. However, the sunset provision in the earlier NOOGH legislation creates new challenges. Operators must now classify themselves as either B2B or B2C entities, ending the previous lack of definition.
The fee structure under the CAA takes a new direction compared to NOOGH. Operators face layered and due diligence fees. That’s requiring careful financial assessment before moving forward.
LOK Under @B2C & @B2B iGaming Licensing Costs
The LOK mandates application fees, annual fees, monthly fees, and domain fees for B2C businesses. Unless, of course, there is a due diligence expert listed with a fee, but these vary between roles. Exemptions would ease some financial burdens for businesses transitioning from NOOGH to LOK.
The application fee, annual fee, and due diligence fee are all components of B2B licensing under LOK. (Monthly fees do not apply to B2B licenses) With this updated fee structure, we want to find balance in regulatory needs vs reality of business operating within Curacao, as per best practices.
Distant Uncertainties And Fun Recycling Recap
The new fee structure brings some initial clarity, but pending parliamentary approval still leaves room for speculation. A comparison between the new fees and those of NOOGH shows that operators closely monitor any additional compliance costs under the new regime. iGaming sector awaits further updates and official approval. Stakeholders must balance regulatory integrity with the business viability of operating in Curacao.
The LOK law marks a new era in Curacao’s iGaming history, addressing an urgent need for regulatory stability, modernization, and collaboration. The transition process is likely to be complex, as operators adjust to the new fee structure. And will require a careful review of costs and compliance requirements.
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