Jersey Gambling License
Jersey Gambling services are governed by the Gambling (Jersey) Law 2012, and regulated by the Jersey Gambling Commission.
- For the purposes of this Law a gambling service is a service that
- is provided by a person to another person; and
- consists wholly or mainly of:
- gambling with that other person, in accordance with arrangements made by the person providing the service, or
- facilitating gambling by that other person.
- A person facilitates gambling by another person if the person –
- provides, operates or administers arrangements for that other person’s gambling; or
- participates in the operation or administration of that other person’s gambling.
Types of Gambling
A reference in this Law to a type of gambling is to a type distinguished by reference to any aspect of the gambling or its conduct.
The aspects by reference to which a type of gambling may be distinguished from another type include:
- the form of gambling, such as betting, gaming and lotteries, and combinations and subdivisions of those (or of other forms), such as pool betting, spread betting, games of mixed chance and skill, or games of equal or unequal chance;
- the means by which gambling is conducted or paid for, such as through remote or electronic communication, by telephone, through gaming machines or amusements with prizes, with cards, dice or other equipment, or with payment by credit card;
- the premises or locations in which gambling is conducted, such as dedicated offices, public houses, race tracks or public places;
- the persons by whom gambling is conducted, such as natural persons, bodies corporate or other forms of body, or persons with specified connections with Jersey or with other territories or countries;
- the persons with whom gambling is conducted, such as persons with specified relationships to each other, persons of particular ages, persons who have indicated in a specified manner that they wish to be prevented from gambling, persons suffering from any other specified vulnerability, persons not present in Jersey, or persons in particular countries or territories;
- the purposes for which gambling is conducted, such as to raise money for a specified purpose or to entertain persons attending at
Remote Gambling Operators (B2C) applications that include any Casino style games must also register with the Jersey Financial Services Commission (JFSC) under the Proceeds of Crime (Supervisory Bodies) (Jersey) Law 2008
Legal Requirements
|
Sr.
No |
Element | Requirement(s) |
| Entity Requirements |
|
|
| Director’s Requirements | The licensee will need at least 2 (two) natural person Fit and Proper Directors and one must be based in Jersey | |
| Shareholder requirements | The licensee will need at least 2 shareholders | |
| MLRO and DMLRO |
The Compliance Officer must:
|
|
| Audited accounts | Every member shall appoint one or more qualified and experienced external auditors for its accounts for every financial year. Prior written approval by the Commission will be required before appointing an auditor. | |
| Jersey Office | The applicant will ensure to have a local office for designated employees and local management. | |
| Minimum Capital Requirements |
The Commission determines and publishes, in relation to a type of licence or to specified circumstances, a minimum and maximum fee and gambling yield, with any fee for any band of gambling yields in between, the relevant annual fee for a licence is –
|
Ongoing Obligations
- A registered person is expected to maintain such books and records in a language understood by the employees of the business. These must be translated into English at the request of the Commission. A registered person must be able to readily retrieve them in Jersey and, if kept otherwise than in legible form, maintain them so as to be readable at a computer terminal in Jersey so that they may be produced in legible form without any delay.
- A registered person must ensure that it has appropriate record keeping arrangements for compliance with the applicable laws (including anti‑money laundering legislation and company legislation), Orders and regulatory requirements, set by the Code or the relevant AML/CFT Handbook.
- A registered person is expected to maintain and adequately document policies and procedures that cover the management of the business.
About Valsen Fiduciaries
Valsen Fiduciaries is a licensed independent global service provider of a broad range of fiduciary, administrative, legal, corporate secretarial and support services.
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- Company formations and Administration
- Assistance with Bank Account opening
- Collective Investment Setup and Administration
- Intellectual Property Registrations and Maintenance.
- Trusts and Foundations setup and administration
- Online Payment Gateway Solutions
- Banking Licenses and PSP, E-Money, E- Wallet Licenses
- Yacht and aircraft registrations.
- Cryptocurrency Solutions (ICO, STO, Crypto Exchanges etc)
The Valsen Advantage
- We will advise you on the optimal legal structure for your requirements, size, expectations and circumstances. We have extensive knowledge of a wide range of securities dealer licenses in all major jurisdictions.
- Valsen will assist to complete every form for each process in the best way we know how (Based on our many years’ experience with various regulators and service providers across the world)
- We are very hands on in the post filing period checking with re regulator and service providers and updating you regularly. Any queries raised by the regulators and service providers during processing will be quickly synthesized by us and we shall craft the right responses to move the process forward fast.
- We have a full in-house compliance support for all compliance requirements with the regulator and service providers
Our Contact Details
Please visit us on: www.offshorelicense-regulatory.com , www.valsen-corporate.com
OR Contact us on:
- Tel: +248 4321018
- WhatsApp: +248 2525217
- Skype: vf-international.com
- Email: [email protected]