Which are the best-value crypto licenses?

When starting a new business venture, keeping on top of costs and outgoings is essential. This includes licensing costs and fees related to corporate matters. After all, the more money you have in your coffers, the more you can invest in optimising your business and building your brand. So which licensing jurisdiction offers the best value for money when considering the cost and the benefits the license brings? Dive in with Fast Offshore.

Costa Rica

To operate an online gambling platform in Costa Rica, you don't need a gambling

license. All you need to do is open a company with your business objective of running an online gambling platform. This will allow you to operate legally under Costa Rican law. But, there are drawbacks. As you do not have a license, you cannot open a bank account or partner with certain mainstream payment providers. If you decide you want to go for the Costa Rica option, you can offer cryptocurrency payments on your gambling site. Your players can deposit, wager, and withdraw using crypto such as bitcoin and ether, and you can do so legally with no issue. Setting up in Costa Rica is an excellent option for those who want to keep their costs low before moving on to another jurisdiction or deciding to stay put. Many choose to remain and offer purely crypto gambling as this area is witnessing significant growth and interest year after year.

Isle of Man

For those that want a formal license, the Isle of Man is a great option. It is not the lowest-cost license on the market but offers excellent value for money. The reason for this is that it is a well-established and well-respected jurisdiction. Furthermore, it is financially attractive as the corporate tax rate for an online gambling company is 0%. However, a gaming tax must be paid, but this is between 0.1% and 1.5% of the gross gaming yield, not the total annual turnover. Overall, the license is a true mark of quality for an iGaming operator and is a good investment for entrepreneurs. The application process is rigorous, and there are many requirements to meet and maintain, but in the long run, it is more than worth it for serious operators. When navigating a regulatory environment such as the Isle of Man, it is a good idea to team with an experienced provider such as Fast Offshore to ensure the process goes smoothly.

Kahnawake

The Kahnawake license is the preferred option for many startups and existing platforms. It enjoys an excellent reputation and also has a relatively simple setup process with low fees and associated costs. There are also zero taxes payable locally, but some may apply if you set up a company in another jurisdiction to hold your license. The Kahnawake option is a great mid-range sense that offers player confidence, flexibility, and cost savings for the operator. It is also a suitable stepping-stone license where operators can start up and establish their business before moving on to the Isle of Man or Malta.

Fast Offshore has worked in the online casino sector for over 26 years. Our team is ideally placed to assist you with every step of the process and manage your corporate needs going forward. To speak to a member of our team today, https://fastoffshore.com/contact-us/.