Gambling License (online casino-sports betting-gaming license): Antigua & Barbuda

Requirements and fees to obtain an interactive gaming or interactive wagering IGIW licence on Antigua and Barbados

For obtaining an IGIW the following steps have t be undertaken:

Step 1 – Application for an Interactive Gaming or Interactive Wagering Licence must be completed and submitted.

Step 2 – (if applicable) a Business Entity Information Package must be completed and submitted.

Step 3 – Personal information has to be given by each key person of the company, including each shareholder of the company.

A fee of $15,000 US dollars is to be submitted for conducting investigations, due diligence and assessments of the applicant. This fee is non-refundable. If the cost and expenses of these investigations exceed $15,000 US dollars, the applicant will be notified by the Commission and asked to submit a further non-refundable deposit, determined by the Commission.

The Commission may ask for further documentation.

Annual Deposit Requirements and fees for interactive Gaming and Wagering Licences (in US$)

Reserve

Next to providing proof of capital adequacy, an applicant who has been granted a licence must submit an amount, or other similar security, of 100,000.00 US$ to be paid into an account by the Commission. This fund acts as a form of security to ensure that licence holder’s obligations to the players such as payment of prizes and the return of deposited money in accounts.

Depending on the risk, the Commission may increase the amount held as reserve.

IGIWR rules, that the prospective licensee must maintain a physical presence in Antigua and Barbuda. It must have its physical presence and the server, on which the transactions are conducted, in Antigua and Barbuda.

Antigua & Barbuda Gambling

Since its independence in 1981, the twin-island state of Antigua and Barbuda in the Caribbean has continued to practice a tradition of English Common Law. Located less than 300 nautical miles Southeast of Puerto Rico, in the Leeward Islands, its legal procedures are structured in accordance with strong democratic principles of good governance, patterned after the British parliamentary system. In 1982, legislation was enacted under the International Business Corporations Act, with subsequent amendments in 1984 and 1985, to make Antigua and Barbuda a choice jurisdiction for offshore banking. Operations under this Act are controlled by the Ministry of Finance in Antigua. The prevailing offshore legislation provides for speedy formation of international business corporations (IBCs) at very competitive charges. The formation can be carried out by a locally registered trust company or by an accountant or attorney. Formation can usually be completed within 24 hours and full corporate and trust services are available to both private and corporate investors including: Registration and maintenance of corporate charters for offshore companies; Reception, management, and disbursement of the assets of offshore companies; Provision and maintenance of a registered office; Maintenance of the company's records and statutory register; Preparation of all necessary corporate returns and reports to the Director; Provision of directors and officers on request; Incorporation and management of offshore banks and captive insurance companies; A full range of traditional trust services. Some of the benefits provided to offshore companies formed under the IBC Act include the full exemption of all direct taxes in respect of any international trading, investment or commercial activity including withholding taxes and stamp duties. For banking there is a 3% tax on gross income (i.e. interest income and fees derived from the operations and investments of the banking business minus interest expense). No minimum capital is specified for an IBC and shares may have a nominal or no par value. The transfer of the charter of an IBC to a foreign jurisdiction, or vice versa, is explicitly permitted. The board of directors of a corporation may consist of a single member. In the case of banking, trust and insurance corporations, at least one director must be a citizen and resident of Antigua and Barbuda.