Is There Gambling In Belize
Gambling jurisdiction
The Golden Princess Casino is located in the Corozal Free Zone in Belize. Catering to locals, inside you will find a wide variety of casino games and entertainment suited for all. Casino games cover a large part of the 1500 Sq. Meters with 500 video slots and machines. Machines accepts paper money and TITO. If you want to get Belize gambling license or permits of other jurisdictions contact Smart Money. We can launch an online casino within several weeks.
The small state Belize is located in Central America in the Yucatan peninsula and has borders with Mexico and Guatemala.
Belize aims at developing the online gambling industry, and in 2014, the number of gambling companies exceeded 14 thousand. Therefore, the jurisdiction updated the Gaming Control Act of 2000. The revised version was created taking into account similar regulations in successful gaming countries.
Requirements to get a gambling license in Belize
Belize only offers one license for all kinds of online gambling activities making the process of starting a business easier and more convenient for operators. It is also important to take into account that the annual license expires on March 31, regardless of the issue date.
Belize jurisdiction created quite strict requirements for those willing to obtain a gaming license:
- a company should be international and registered in Belize;
- applicants must submit papers with information about directors and managers to demonstrate financial means, integrity and competence;
- each person who has any financial interest must submit a copy of the personal identification card and two recent black & white photos;
- if company founders don’t stay in the country and don’t have local citizenship, they should submit an application for citizenship and provide a copy of this application;
- a company should provide profit and loss statement for the previous three years to verify the absence of any debts;
- except for the package of all necessary documents, all founders and entities interested in obtaining income from the company should provide their fingerprints.
There is also the whole range of Belize gambling private deposits requirements:
Does Belize Have Casinos
- the company should maintain security deposits and reserves with the Central Bank of Belize;
- deposits and reserves withdrawals should be reported to the Gambling Commission;
- the casino is obliged to pay out all winnings without delay to clients in order to avoid any disputes and conflicts.
How much does a Belize gambling license cost?
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Gaming License Application Fees | $18,000 |
Belize Gaming Trade Association & Organisational Dues | $5,000 |
Guidebook Application Fee | $500 |
Annual Renewal Fee | $15,000 |
Belize Gaming Trade Association & Organisational Renewal Fee | $5,000 |
Companies that only conduct online gaming business outside Belize are not taxed. The fee payable to Belize for gambling is 0.75% of the gross annual takings.
Challenges and advantages of Belize gaming business license
Is Belize In The Usa
The main challenge of getting a gaming license in Belize is strict requirements, however, the number of benefits still prevails:
Is There Gambling In Belize
- the very fast procedure of getting the license - if all requirements are met, the license is issued within 24 hours; the cost of the license is relatively low;
- security and confidentiality of the information;
- one license for all games.
What State Is Belize In
When jurisdiction sets up strict requirements for obtaining a license, it may take a long time to gather all the documents. Slotegrator helps operators to make the procedure of getting a gaming license easier and faster by dealing with legal issues.