Gamble sphere in Estonia is rather ordinary, with an interesting history and frequent changes in legislation. The first ground clubs were allowed a long time ago. They are localized in the country’s capital – Tallinn – and major resort cities.
Gambling license in Estonia is given and controlled by legal powers of local authorities. Regulator gives permits for activities, and also ensures that licensees fully fulfill their obligations.
Over the nearly 30-year history, the regulatory framework has changed several times. Most considerable innovations came in 2009, when state was coping with the terrible consequences of the global economic crisis.
Local government has taken a number of measures to streamline gamble platforms’ functioning like at https://buitenlandse-casino.com/.
Gamble activities are rather complicated with a lot of nuances. First of all, entrepreneurs need to know that the status of a licensee can only be assigned to legal entities with certain organizational and legal forms.
For Authority Board, examining applications and making decisions on them, the activities of enterprise are also important. Permits will be issued on condition gamble is single commercial direction of the company.
To launch a project, a businessman will need to obtain not one, but two permitting certificates at the same time:
- first has an unlimited validity period and serves as confirmation that the legal entity meets all demands set by the commission.
- second is gamble license. It’s valid for 20 years and covers all games provided in Estonia.
Documentation for obtaining licensee status includes:
- complete data set for directors and beneficiaries;
- copies of papers for shareholders;
- data on all people having a share in the legal entity;
- data about auditors;
- certificates of no criminal record (for all responsible persons);
- proof of the crystal clear business reputation of the founders and directors;
- certificate of payment of the fee;
- business plan;
- software certificates;
- description of all technical processes and not only.
Consideration of documentation takes a long time – on average, the preliminary stage stretches for up to six months.
The following data must be submitted with application form:
- Data on all members of the board and the supervisory board of the applicant – name, surname, state identification number (in case of its absence – date of birth), place of residence, a complete list of previous places of work and positions; documents confirming the reliability of the members of the board and the supervisory board, as well as their accordance with requirements of Gamble Law, which applicant considers need to provide; information and documentation specified in paragraph 2 of paragraph 3 of Article 11.
- Applicant’s auditor data. Name, surname, place of residence/place of activity, state identification number (in case of its absence, date of birth or registration code)
- List of shareholders of the applicant, indicating the name and surname of each shareholder, their registration or country identification number. If not available, date of birth. Also detailed data about shares of each shareholder and the weight assigned to them in voting.
- Data and documentation referred to in paragraph 2 of Article 11 of the Gambling Law in relation to persons who have a significant share in the applicant’s company.
Launching virtual casinos in Estonia brings following benefits.
- Entry into the European market. Cooperation with the jurisdiction is suitable for those operators who want to scale their business. The opening of an Estonian online casino allows attracting a solvent audience in Europe.
- Improving the image. The growing popularity and demand for the brand is directly related to the legal field in which the company operates. The Baltics are extremely attractive in this regard, especially for newcomers to iGaming.
- stable legislation. It has been brought to the norms of the European Parliament and has remained unchanged for 10 years. Investors can safely count on long-term investments with a high payback. The country will be of interest to fans of calm and balanced investments for the long term.
- Loyal taxation. The gaming business in Estonia has low taxes compared to other EU countries.
- Long term permit. The regulator draws up a document for 10 years, which is a record figure. The ability to obtain a license for such a long period is another good reason to work in a jurisdiction.
- There is no binding to a local server. Estonia – state not requiring hosting on local server equipment. In practice, this significantly minimizes the cost of launching a gambling project.
- Access to advanced technologies. The country has a well-developed telecommunications network and innovative 4G coverage. Dozens of IT companies providing quality software work here.
If you intend to get a GAMING LICENSE IN ESTONIA – a great choice. We recommend that you seek the help of specialists in order to avoid unnecessary difficulties.
Related CTN News: