National Registry of Costa Rica
Although wagering is not legal in Costa Rica, the government offers gambling operators a business-friendly environment with attractive licensing requirements. The National Registry of Costa Rica encourages offshore sites to register in the country. Read on to discover more about them and why businesses choose to locate in this dynamic country.
Casinos With a National Registry of Costa Rica License
- National Registry of Costa Rica
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The Role Of The National Registry of Costa Rica
The National Registry of Costa Rica, or Registro Nacional, provides a strong regulatory framework for all kinds of businesses. Their gambling licences are low cost, with clearly defined rules. Some important things to remember include:
- Licensees may not accept bets from Costa Rican gamblers;
- Operators may only take bets from non-resident players over 18 years old;
- National anti-money laundering regulations are strictly enforced;
- Sites must retain software logs for five years and follow Know Your Customer regulations;
- Costa Rica doesn’t charge VAT or income taxes on offshore income.
Costa Rica also has a high level of political stability and an excellent IT and telecommunications infrastructure. Its Central American location is also an advantage, as speedy connections are possible throughout Latin America and the USA. In addition, it’s less vulnerable to hurricanes than the Carribean islands or Florida, so storm related damage is rare.
National Registry of Costa Rica Casino Licences
Costa Rica has a strong, well-developed economy based on tourism and business. Many online casinos choose to base themselves in the country, especially sites which target Spanish speaking territories. There are about 475 million Spanish speakers in the USA, Spain, and Latin America, making it one of the largest online markets.
It’s easy to set up an online casino in Costa Rica. Overall, it will take between 2 or 3 months and operators can expect to pay about $15,000 US dollars for company setup and the gambling licence. Each founder will need to provide:
- A notarized copy of their passport.
- One copy of a residential utility bill copy from the place of permanent residence.
- The CV of each founding board member.
- A letter of reference from a bank
The requirements for licensing include using local state-owned transit servers, which store client data inside of Costa Rica. The National Registry of Costa Rica also requires a full list of all games offered to clients.
Benefits of National Registry of Costa Rica Licensed Casinos
Costa Rica is one of Latin America’s most stable and prosperous countries. Like neighbouring Panama, it’s a magnet for international businesses looking to access Free Trade Agreements with the USA, Canada and South America. Benefits include a strong national government, a well-educated workforce, ideal geography and excellent infrastructure.
Although you may get a licence from the National Registry of Costa Rica, many gambling sites choose a less restrictive data processing licence. Data processing licences are issued by local municipalities and don’t require operators to list all of their games. Either way, they’ll enjoy tax exempt status on all overseas profits.
Benefits to Players
Online casinos licensed by the National Registry of Costa Rica must use state-owned servers. This ensures data security and internet hosts located in the centre of the Spanish speaking world. Costa Rica’s central position gives speedy response times for both South and North American players.
In addition to fast internet, Costa Rica is an honest, well governed country with strong institutions. As a free and open society, the country doesn’t even have an army. As such, the testing of RNGs and other casino software is taken very seriously. Similarly, financial fair play is a priority and the Registro Nacional handles player concerns extremely professionally. So you can rest assured that your sensitive data is in safe hands and that payments will be made promptly.
How long does it take to get an online casino licence from the National Registry of Costa Rica?
Normal processing time for the Registro Nacional is around 2 to 3 months.
Does Costa Rica have a good business environment? Is it stable?
Costa Rica is extremely stable, liberal and well-governed. The country doesn’t have an army and human rights are respected. It’s also very pro-business with easy company setup, licensing, and no tax on offshore profits.
How much does a casino licence cost in Costa Rica?
In total, you will pay approximately $15,000 US dollars for attorney fees, company setup and casino licensing.
Which online casinos have a National Registry of Costa Rica license?
Use the list of National Registry of Costa Rica casinos to see all online casinos that are regulated by National Registry of Costa Rica.