Cyprus Gambling License

Online gambling is known as a profitable business, and the Cyprus government has introduced criteria to make it easier to get online gambling licenses.

Types of gambling licenses in Cyprus

Class A-regulates betting on sports games. These licenses are issued by a bookmaker. Licensing allows all kinds of betting (excluding racing). Not open online.

Class B-Regulates the work of online bug makers. It does not apply to slot machines, lottery, and casino (actual stores).

Requests to acquire class A or class B

• Applicants must promote them with Cyprus.
• Registered at Cyprus, a company that uses gambling as a business.
• Space} Company's high payment ability for payment to players.
• Be an organization that owns a gambling system.
• Space} There is a possibility of protecting players based on the rules stipulated in the 2012 Betting Law.
• If the company is not registered in Cyprus, you will need to find a subsidiary or conclude a partnership with the Cyprus company. The company needs to hold at least € 500. 000. The deposit warranty period works for 6 months and acquiring the license.

Package "Gambling license for the company and Cyprus"

Likbez

• About the Cyprus Committee and the National Statistics Bureau (NBA) for regulators' gambling and casino coaches
• The NBA will order, approve, and monitor bookmakers and online operators.
• Bookmaker tax: 13 failed income
• Space} We can provide bookmakers in the third country.
• Period: 2-3 months

Types of Cyprus Gambling License

Class A-groundbook maker excluding horse racing

Class B-Online start

Steps for obtaining a gaming license in Cyprus

1. Business registration
2. Opening a group bank account
3. Space} Proposal and document submission
4. Tracking NBA application

Application

• Prohibition of access to gambling under the age of 18
• If you are in a physical level, if you are in Cyprus or if you are registered overseas, you will work with the Cyprus company, and the leading work is considered as a bed arrangement. Foreign and Cyprus companies apply the minimum bills.
• Pure crime history
• A banking right of € 550. 000 from Cyprus Bank or other EU member states, exposure six months later.
• Appropriate audit / accounting system for submitting proposals
• To systematically comply with the NBA claim and the law for the eradication of money laundering
• Application fees to the state are from 30. 000 euros per year to 45. 000 euros for two years.

Bundle "Gambling license in Cyprus" link:

• If you are in a physical level, if you are in Cyprus or if you are registered overseas, you will work with the Cyprus company, and the leading work is considered as a bed arrangement. Foreign and Cyprus companies apply the minimum bills.
• Pure crime history
• The bank deposit of € 550. 000 from Cyprus Bank or other EU member states, the exposure, will be six months to get a license.
• Appropriate audit / accounting system for submitting proposals
• To systematically comply with the NBA claim and the law for the eradication of money laundering
• Space} Submitted tasks have a national mission from 30. 000 euros per year to 45. 000 euros for two years.
• Consultation on consistent laws and support for choosing appropriate occupations and classes
• Guide for providing all major documents and certificates
• Prepare a license order on behalf of buyers
• Create and submit sel f-report
• Space} Creation and transfer of bank warranty
• Space} Grounding and expression of business plan
• Space} Hosting rental and server arrangement
• Space} Creating technical documents
• Space} Help of supervision proposal of data processing data center
• Support and compliance with NBA Technical Audit Request
• Support for copying with Cyprus authorities and adjustment of local governments

Space} Legal imprisonment based on a monetary plan in Cyprus

From EUR 1. 500

Legal proposal of gambling plan

From EUR 1. 500

Biggest gambling companies registered in Cyprus

Gambling taxation in Cyprus

The total tax rate is calculated in 13%: failed benefits-10%and other taxe s-3%. Of the data, 3 % fall into 2 % to the Sports Federation, 1 % -Bookmaker program (Article 71 of the 2012 tax rate).

If you are interested in thorough personal consultation regarding gambling license acquisition in Cyprus, please contact our legal advisor and accept detailed consultation now.

Advantages of the Cyprus Gaming License

Cyprus' stable economic situation, prudent but not excessive regulations, and high per capita income are some of the reasons why the country is known as a center of international investment, including in the gambling industry. While Cyprus' regulatory framework may be more flexible than other European countries, it has adopted all relevant EU directives and strives to maintain high standards and safety throughout the gambling industry.

Cyprus' gaming tax is not the most favorable (13%) compared to other European countries, but other tax rates are very competitive. Many companies base themselves in Cyprus, as the income tax is only 12, 5%. In addition, there is no withholding tax on dividends and interest paid to non-residents of Cyprus, nor on royalties paid to non-residents of Cyprus for rights not used in Cyprus. Cyprus also has more than 65 international double tax treaties, which aim to promote cross-border investment and reduce the tax burden of international entrepreneurs with tax domicile in Cyprus.

Moreover, you will be pleased to know that Cyprus' banking system is one of the most reliable in the world, as it is regulated by the Central Bank of Cyprus in line with EU standards. Cypriot banks offer all basic services, such as international remittances, loans, business cards, insurance, online banking, etc., in English and other common languages. In Cyprus, banks take privacy issues seriously and will not share customers' information with third parties without their consent or a court order. This attracts managers who value privacy and security, as well as the stability that EU banks offer.

Advantages

The period to obtain a gambling license in Cyprus is 2-3 months.

Space} We can provide bookmakers in the third country.

More than 65 international agreements to eliminate double taxation

Shareholders can range from 1 to 50 people

Gaming Regulations in Cyprus

In Cyprus, online and offline sports ships were allowed in 2012, in line with the 2012 tariff, which foresaw the creation of a serious NBA to comply with the legal framework on gambling. Another important legislation is the Law on Prevention and Suppression of Money Laundering and Terrorist Financing 2007-2018, whose purpose is to protect the financial market through criminal activities by means of identifying and reporting suspicious business activities.

If you are looking to obtain a gambling license in Cyprus, establish a sustainable business with the NBA, as it has the power to realize the appropriate form of regulatory work:

• space} Class A and B Licenses - monitor the compliance of licensed adepts and owners of licensed premises with the standards of appropriate licensing and active regulatory action.
• space} When considering an application for the issuance of a license, the agency has the option to accept the conclusion of asking the applicant to be present in person and/or with a lawyer.
• Determine the procedure for the submission and analysis of claims to the authorities, Class A or Class B, or to the authorized supporter.
• Cooperate with the Advisory Council for Combating Money Laundering and Terrorist Financing and issue guidelines to licensees for the use of preventive measures to combat money laundering in coordination with the Under/Foot legislation.
• space} Conduct inspections of unlicensed premises in cooperation with the competent prosecutorial authorities and obtain appropriate court orders for the closure of premises suspected of illegal gambling.
• space} Develop and maintain a code of practice for gambling advertising.
• Evaluate the results of the tax situation regarding betting and present appropriate proposals.
• {space} Provide electronic notification to ISPs of each internet site address offering unlicensed or illegal bookmakers.
• Collection of contributions from licensed bookmakers of A and B classes (accounting for 3% of unprovoked relief from betting at the CO form reporting stage, which is considered as part of the 13% gambling tax)

• Gambling companies must translate financial data from their buyers seriously related to /ft, appropriate state authorities, and /ft regulations for the collection, evaluation and testing of suspicious business transactions.
• Gambling companies need to use a means to control the rate, Tom, and the buyers that others will wipe out when performing 2. 000 euros or more necessary amounts. Thus, whether the operation is in progress in some of the operations that seem to be connected to one or interconnection.
• Gambling companies need to use the following political figures, management means and procedures in proportion to the volume to reduce and control the risk of money launding and terrorist funding. Connect detailed research on each operation with the ability to actually consistent records and the symptoms of criminal acts.

GAMBLING LICENSE IN cyprus

Study stage	2-3 months	Annual monitor fee	From 2. 000 euros
Municipal obligations for application	30. 000 euros	Local employee	space
Necessary subcontracting capital	500. 000 €	space	space
Collective income tax	13%	Accounting audit	Essential

Types of Cyprus Gaming Licenses

The NBA has maintained all the information listed in the statement, maintaining the registration book for the Cyprus Gambling License, and publishing its list on its own website.

The 2012 gambling method distinguishes the appropriate license form:

• Class A-Bookmaker, Class B-You can transfer proposals to bet in a licensed room, except for proposals for betting and horse racing.
• Book maker license B-Class that allows you to transfer electric offer by bed, excluding slot machines, online casinos, provided by direct links, and electrical racing.
• Available in the license of the A-class bookmaker approved, a sentence on how to bet on the A-class bookmaker in the approved room, excluding the B-class betting method and the horse racing sentence.

Two to issue a license is appropriate:

• In the case of the A or B class, the license for one year is 30. 000 euros, and the license for two years is 45. 000 euros. 00 euros
• In the case of class A approved bonding, the annual license is 2, 000 euros and 3, 000 euros for two years.
• Space} A-class book maker A or class A official bonding requires an appropriate subsidy for transferring sentences in two or more rooms.
  • EUR 2.
  • EUR 3.

  If you apply for or extend a gambling license with Cyprus, you must pay a commission at the time of application. If you deviate from the application, 75 % of the paid fee will be returned.

  Class A and Class B Bookmaker’s License

  To get a bookmaker-class A or class B with Cyprus, you need to open a local business with promotion. In accordance with the 2012 tariffs, only companies with shares established in either Cyprus or overseas can apply for such a license, and if they are foreign companies, a branch will be held in Cyprus. Yes, the main activity must be to promote the receipt of the bet, and the company's issued assignment capital must be at least € 500. 000.

  Applications require a bank warranty for Cyprus or other EU member countries, or a cooperative. The warranty is 550. 000 euros, valid for 6 months from the issued license expiration date. Bank guarantees impose the amount of money that Licensei participates in the bed and cannot pay the winner, the Cyprus government tax, and the obligation to pay the NBA.

  It is important to note that the class B license class must submit an application form when providing information on the establishment of a backup server in Cyprus. The backup server is associated with the main intermediary, and all the information required by the NBA must be saved in real time. In addition, the procedure and technical characteristics of the devices that the NBA can be reviewed at any time should be determined.

  Class A Bookmaker’s Authorized Representative License

  Class "A" A license application for a certified agent A can be made by individual or company established in Cyprus. However, the main activity is the cost of the class "A" bookmaker on behalf of the class "A" book maker, the cost of the class "A" book maker, the class "A" book maker, the class "class". A] Promote the end of the bet at the cost of the book maker.

  Class "A" bookmakers' license is in effect in the following cases:

  • {space}
  • If you apply for or extend a gambling license with Cyprus, you must pay a commission at the time of application. If you deviate from the application, 75 % of the paid fee will be returned.
  • Applications require a bank warranty for Cyprus or other EU member countries, or a cooperative. The warranty is 550. 000 euros, valid for 6 months from the issued license expiration date. Bank guarantees impose the amount of money that Licensei participates in the bed and cannot pay the winner, the Cyprus government tax, and the obligation to pay the NBA.

  How to Establish a Gaming Company in Cyprus

  It is important to note that the class B license class must submit an application form when providing information on the establishment of a backup server in Cyprus. The backup server is associated with the main intermediary, and all the information required by the NBA must be saved in real time. In addition, the procedure and technical characteristics of the devices that the NBA can be reviewed at any time should be determined.

  Class "A" A license application for a certified agent A can be made by individual or company established in Cyprus. However, the main activity is the cost of the class "A" bookmaker on behalf of the class "A" book maker, the cost of the class "A" book maker, the class "A" book maker, the class "class". A] Promote the end of the bet at the cost of the book maker.

  • {Space} Annual license additional EUR 2.
  • EUR 3.
  • Opening a group bank account
  • It is important to note that the class B license class must submit an application form when providing information on the establishment of a backup server in Cyprus. The backup server is associated with the main intermediary, and all the information required by the NBA must be saved in real time. In addition, the procedure and technical characteristics of the devices that the NBA can be reviewed at any time should be determined.
  • Class "A" bookmakers' license is in effect in the following cases:
  • Mechanically, if the class A book maker license of a certified trailer who carries a bookmaker activity is canceled
  • Automatically, when the license of the A-class book maker is suspended, and the licensed entertainers have been stopped during the period of the license for bookmaking activities on behalf of him.
  • When a bookmaker or a certified authority has been notified by the NBA that ends mutual cooperation.
  • To establish a new gambling company in Cyprus, follow the correct procedure:

  {Rue}

  • Approval of the company name by {Recor}
  • {ROM}
  • {Ruit}
  • overview
  • overview
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  • Submit an approval to {Recor}.

  Submit an approval to RCOR along with important documents

  

  Elim Poon - Journalist, Creative Writer

  Last modified: 27.08.2024

  Secure your gaming license with ease in top jurisdictions including Cyprus, Greece, Curacao, Malta, Gibraltar, the United Kingdom, and the Isle of Man through. Cyprus is a Mediterranean isle; unlike most of European countries, it gives the opportunity to purchase an international gaming license. OPAP has entered into a long-term concession agreement with the Republic of Cyprus for the exclusive provision of games of chance in the country.