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Let us see, what can we get in Belize… :)

The Gaming Industry is new in Belize and the main goal is to attract genuine investors to participate in the expansion of the financial services sector. Gambling Regulations of the Gaming Control Act, Revised Edition 2000, have been adapted from similar regulations in successful gaming countries and adjusted to suit the Belizean situation.-Good idea, isn’t it?

Belize gambling policy

Online gaming covers the any games played by one person on computer or other device. It also includes games of combined skill and chance conducted, the negotiation or receiving of any game bet by means of telecommunication; +any lottery.

The online gaming regulation of October 2004 is designed to cater to online gaming companies. A licensed online gaming dealer is allowed to have servers elsewhere, but customer service operations should be conducted from within Belize. A gambling licensing fee has to be paid to the Government of Belize at the time the license is granted. Only one license is granted to one company at any given time and is valid for a period of 12 consecutive months from the date on which the license is granted.

Step-by-step proccess to apply for an online Gaming License in Belize :

1. The company-applicant must be an International Business Company that is incorporated in Belize.

2. The company-applicant should provide the adequate financial means of the company’s beneficial owners and the integrity and competence of its board of directors .

3. Full set of fingerprints must be submitted for each person who has any financial interest in the online gaming entity.

4. Copies of audited accounts of the company must be submitted comprising balance sheetfor the last 3years.

5. Copy of Naturalization Documents must be submitted for each person who has any financial interest in the entity if such persons are naturalized citizens or permanent resident of another country.

6. Copy of the personal ID and two recent black & white photos must be submitted for each person who has any financial interest in the online gaming entity.

Also:

1. The aplicant should notify the Online Gaming Licensing Committee if it has to withdraw or call upon its security, deposits and reserves

2. The aplicant should provide and maintain security deposits and reserves with the Central Bank of Belize for the payment of debts arising out of online gaming being conducted;

Who can apply for an online casino license?

A dealer who “conducts” online gaming is anyone who is engaged in the organization, management or promotion of gaming or a lottery or any business involving the negotiation or receiving of a bet or the maintenance of any computer or other device in Belize by means of which a game or lottery is operated. Anyone intending to conduct online gaming in Belize must be licensed by the Gaming Control Board.
With a government that is committed to maintaining high standards for its new online gaming industry, Belize is one of the best choices to consider for an online gaming license.

Thank you

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This entry was posted on Thursday, December 7th, 2006 at 19:15 and is filed under Casino Gambling License (tags: none). You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.