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Obtain Costa Rica Gambling License

Costa Rica Gambling License

Costa Rica is an independent country located in Central America and is bordered by Nicaragua to the north, Caribbean Sea to the east, Panama to the southeast and Pacific Ocean to the west. Costa Rica is popular for the low company setup expenses and absence of online gambling regulation and licenses.
Costa Rica is an independent country located in Central America and is bordered by Nicaragua to the north, Caribbean Sea to the east, Panama to the southeast and Pacific Ocean to the west. Costa Rica is popular for the low company setup expenses and absence of online gambling regulation and licenses.
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Licensing Services

Timeframe: within 3 months

Minimum paid up capital: No minimum capital requirement


Overview

Incorporation of Costa Rica company, if compared to other jurisdictions, is rather cost and time effective. The company structure is simple and allows the shareholders to be also legal persons. The companies for conducting online gambling activities are required to obtain a simple license known as “data processing license.

Although this used to be a popular place for online gambling companies due to the absence of corporate taxes and relatively cheap company formation services, in recent years the situation has changed due to money laundering scandal. The government of Costa-Rica tries to recover from it and in 2015 it presented new anti-money laundering policy.

Some benefits of Online Gambling Company:

  • No public records (anonymity);
  • Highest level of privacy protection;
  • Legal tax exemption;
  • No accounting requirements;
  • No requirements on professional or financial standing;
  • Business can be conducted internationally
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Licensing Criteria and Procedures for Applying for Costa Rica Gambling License

Notable features
Procedure
Documents Required

General information

Company structure

  • Minimum one shareholder (can be a legal entity or natural person, no nationality restrictions)
  • Minimum one director (can only be natural person, no nationality or residency restrictions)

Taxation

  • Costa Rica companies are exempt from the Costa Rica local taxes on income derived outside of Costa Rica

Accounting requirements - None. Yet, certain documents should be submitted

Secretary - Not Required

Registered Agent - Required

Registered Office - Required

Company name

  • Language: Spanish, English (with accompanied translation in Spanish)
  • Letters: Any
  • Company name must end with such sufixes or their abbreviations: Limited, Corporation, Incorporated, Societe Anonyme, Sociedad Anonima, Sendirian Berhad, Societe a Responsabilite Limitee, Besloten Vennootschap, Gesellschaft mit beschrankter Haftung. An International Company may utilise a broad range of internationally accepted abbreviated words as suffixes to denote their limited liability.
  • Names Requiring Consent or a Licence: Bank, buildings society, insurance, assurance, reinsurance, fund management, investment fund, trust, trustees, finance

N.B.

  • Restricted connections for company name: name of state, national or local government.
  • Any name that implies illegal activity or implies royal or government patronage is restricted.
  • Registrar may reject any name which it considers undesirable or contrary to the public interest.
  • Company name is restricted to be identical or similar that of an existing company.
  • In case when foreign language is used for company name the translation must be provided to Registrar which will ensure conformity to above listed restrictions.

In order to obtain a license, the following steps will be carried out:

  • Application for reservation of company name
  • Preparation and submission of the application and documents to the Registry
  • Incorporation of the company
  • Data Processing License application with the Regulator

In order to obtain license, Offshorelicense will fill all necessary application forms and also acquire apostilled corporate documents. 

For that reason, please provide us with the following documents.

  • A notarized copy of valid passport (each of Director and/or Shareholder)
  • A copy of proof of residential address (ex. utility bill that is not older than 3 months for each of Director and/or Shareholder)
  • Bank reference (each of Director and/or Shareholder)
  • Two professional reference Letters
  • Proof of source of funds
  • Notarized non-criminal records
  • Signed and Dated CV
  • Notarized copies of Diplomas

For corporate shareholders need to provide the following:

  • Passport of an Authorized Person of the legal entity (to be certified true copy by Notary Public or Embassy)
  • Valid certificates of Good Standing
  • Valid certificate of Incumbency
  • Utility Bill as proof of residency of an Authorized Person for the body Corporate (to be certified true copy Notary Public or Embassy
  • Registries of Company listing down the names of Director, Shareholder, Auditor, Company Secretary (to be certified true copy by the Company Secretary or Notary public)
  • Certificate of Incorporation (to be certified true copy by the Company Secretary or Notary public)

N.B.

  • If documents are not in English language, then they must be accompanied by a notarized translation