Gambling license in Costa Rica

Online gambling is one of the most dynamically developing sectors of the entertainment industry. Operators need to choose the optimal jurisdiction for registration and licensing and comply with legal formalities when filing the documents for a Costa Rica online gambling license. Experts at SBSB Fintech Lawyers help clients with establishing an online gambling business in a given country. While this jurisdiction has certain peculiarities, the country attracts investors due to its favorable business climate and advantageous tax regime.

Costa Rican Gambling Regulations

Costa Rica has a paradoxical situation: it is globally known as one of the best gambling jurisdictions, yet there is no control over the activities of various online casinos because there are no Costa Rica gambling laws regulating the gambling field. Nevertheless, operators legally operate, and many projects choose this country’s gambling solution.

Since there is no Costa Rica Gaming Commission to conduct licensing procedures, and there is no corresponding legislative framework for regulating gambling business, there are no specific gambling licenses. Costa Rica gambling industry operates as follows: gambling businesses are prohibited from providing services to Costa Ricans, so companies block local IP addresses. It is only necessary to register a company without obtaining any authorization documentation. 

Who Will Benefit from Costa Rica Gambling License

Costa Rican permits are often chosen by operators who want to enter the gambling business with minimal expenses. SBSB lawyers recommend considering this permit for projects that want to test software and game concepts among their target audience, as well as blockchain and crypto gaming projects that do not need fiat solutions. This will allow developing additional services and expanding the website’s functionality in the future.

Despite the absence of a regulator in the jurisdiction and gambling activities not being subject to licensing, operators must comply with anti-money laundering rules.

Advantages of Registering Company in Costa Rica

This jurisdiction is advantageous for legal gambling business for several reasons:

• the jurisdiction operates a territorial taxation system, so there is no need to pay taxes on income earned outside its borders;
• the gambling project can accept payments in cryptocurrency;
• the registration process takes no more than 2 weeks;
• the permit functionality allows providing services such as lotteries, online bingo, sports betting, bitcoin casinos, and others.

It is worth noting that operators registered in Costa Rica cannot conduct transactions in local banking institutions.

How to Organise a Gaming Business in Costa Rica 

To obtain a Costa Rica Gaming License, SBSB experts advise adhering to the jurisdiction’s requirements:

• collect a document package for the individual shareholder, ultimate beneficial owner, and directors (passport or identity card copies, proof of address, corporate papers);
• register the company in Costa Rica, specifying that its activities are related to online gambling.

Cost of Gaming Project in Costa Rica

The price of this permit depends on the project’s business model and the services the licensee plans to provide. The cost of Costa Rica gaming License Cost includes consultations, company registration, documents confirming its current status, and information about its internal structure (Constitution), as well as the development of necessary policies for the website. Contact the SBSB team, and we will provide more detailed information about the license cost.

Why You Should Turn to SBSB Fintech Lawyers for Organizing Online Gambling Project

Since 2013, the SBSB team has been helping clients successfully launch gambling projects in different regions of the world. Our experts provide “turnkey” services – from preparing a document package, opening a bank account, and registering a company in Costa Rica to comprehensive legal support after obtaining Online Gambling Licenses in Costa Rica and launching a project.

Leave an inquiry, and our specialists will be happy to provide consultations on all matters of interest!