The authorities in Gibraltar have introduced a legislation for online gaming in 1998, and while this jurisdiction seemed a very unlikely location for online gaming companies at first, Gibraltar soon surprised everyone by becoming one of the most sought after jurisdictions in all of Europe for gaming licenses.
First of all, Gibraltar is a part of the British Isles, and therefore an EU member state, with all the benefits that entails. The tax rate in Gibraltar is also highly favorable compared to many other European jurisdictions and companies are not required to pay VAT, and the fact that the jurisdiction is located on the southern tip of Spain and has a large expat population means that there is an educated and experienced workforce there.
iGaming is a very big business in Gibraltar, with 20 iGaming firms already based in Gibraltar (many of which are considered as highly esteemed companies in the business), and more than 2,000 people are employed by companies related to the industry.
It is, however, worth noting that the fees for Gibraltar gaming licensing may seem higher than the fees in other jurisdictions, and that all license holders must undergo a thorough audit every year, as well as fulfill a number of requirements before obtaining a Gibraltar gaming license. The government in Gibraltar generally also tries to keep the number of licenses they approve rather low, so for most gaming companies, it is notoriously difficult to obtain a gaming license from this jurisdiction today.
Due to this, our law firm recommends a Gibraltar gaming license mainly for gaming companies with a long term commitment to the industry.
Should you have a gaming company that is just starting out and would like recommendations for other, less expensive and demanding jurisdictions for a gaming license, we would be more than happy to advice you on other jurisdictions that might suit you better.
If you are interested in Gibraltar Gaming regulation, the most important thing you will need help with is finding out if you are qualified for a license from this jurisdictions. Porat Group’s lawyers will therefore explain all of the requirements to you, and should it turn out that you are a suitable candidate for a Gibraltar Gaming license, we will help you with the entire licensing process – from all the paperwork to contacts with the authorities, advise on compliance with different government policies, and more.