WILLEMSTAD - Anyone who wants to operate an online gambling company from Curaçao in the future must be physically established here and employ at least three people with a Curaçao sedula (ID) in key positions in the company. That reports Minister of Finance, Javier Silvania.
The message was previously conveyed in a meeting between the minister and representatives of various Trust offices in Curaçao. Because of the management of the letterbox companies, they are important players in the online gaming industry and are known as the big earners in this sector.
During the meeting, they received an extensive explanation about the modernization of the gambling legislation in Curaçao and were also allowed to provide input themselves.
According to Silvania, Curaçao's reputation with regard to the gambling world must change drastically. “The online gaming industry in Curaçao is known abroad as a shadowy industry where the international mafia come to launder their criminal money. In addition, the highly outdated legislation means that there is insufficient supervision over the sublicences that are issued," said the minister. According to Silvania, the government loses millions in tax revenue every year as a result.
Curaçao wants the new legislation to create more employment opportunities for the local population. By imposing a substance requirement on entities in the games of chance sector that fall under the scope of application of the National Ordinance on Games of Chance (LOK), more employment can be achieved.
Some of the activities must be performed from Curaçao, and as much as possible also by locals.