Ron Mendelson is the Director of Costa-Rica based International Business & Corporate Services consultancy firm, Fast Offshore. With over 24 years of real-world experience in iGaming Licensing and Payments, Regulatory Compliance, Tax-Efficient Corporate Structuring, Incubator and other Hedge Fund Licenses, Blockchain and Cryptocurrency related services, he advises a number of international clients on their business needs in the Americas, Europe, and beyond.
When considering setting up an online gambling company, the first step is to decide where it will be based. This means where you will set up your gaming company and also which authority will issue your gambling license.
In 2021, Kahnawake was one of the most popular options, and we received many inquiries about setting up there. As a jurisdiction, it carries many benefits for operators. It is quick, cost-efficient, flexible, and reputable. If you are starting a gambling business venture, Kahnawake should be on your radar.
It is quick
Applying for any gambling license takes time and effort, but Kahnawake is relatively quick. As with any corporate matter, you must have all the required documents together, and ensure they are translated and certified as necessary. Once all the documents are presented with the application form, you can expect the approval to be granted in 8-10 weeks.
When compared with other jurisdictions, Kahnawake is one of the fastest.
When it comes to paperwork, you are required to fill out questionnaires and various forms, but much less than in some jurisdictions like Malta or the Isle of Man.
It is cost-efficient
When compared to some other gambling licenses, the Kahnawake license is one of the most cost-efficient. No gambling license is cheap, but this option offers superior value for money. They are not the lowest price around, but they are affordable for small businesses, startups, and solo entrepreneurs. It would help if you also considered that those with a Kahnawake gambling license enjoy a 0% gaming tax on all gross gambling revenue.
When combined with the affordable licensing application process, this means you have more money to invest in your business and can be profitable sooner.
It is flexible
The Kahnawake gambling license is an excellent choice because, with just one license, you can run multiple different sites. With some other jurisdictions, you need a separate license for each brand you run, or in some cases, even different game types. That is not the case in Kahnawake.
For example, in Curacao, you may operate two different brands with your license. But, if you'd like to include more domains, additional charges apply. This makes Kahnawake a cost-effective and straightforward solution for entrepreneurs looking to operate multiple brands.
It is reputable
The jurisdiction of Kahnawake is known for its outstanding reputation. Considered a trustworthy jurisdiction, holders of a Kahnawake license can enjoy the implications of responsibility, fairness, and compliance that it brings. The authorities take these matters very seriously and enforce them across all license holders. Complaints or violations can result in fines, suspension, or complete revocation of the license.
The Kahnawake Gaming Commission not only issues licenses but it supervises and monitors licensees continually. This, in turn, increases player confidence and loyalty in your gambling services.
Fast Offshore has worked with many operators who have established their business in Kahnawake. It is an excellent choice for those looking to operate an online casino site, betting site, or similar. We can take care of the entire process for you, from company incorporation right through to ongoing maintenance and compliance. To find out more, you can contact us to schedule an informal chat.