Gaming is legal in Saint Kitts and Nevis, including casinos, poker, horse racing and sportsbetting. In December 1999, the government enacted the Betting and Gaming Control Act of 1999, thereby legalizing gambling. At the same time, the Saint Christopher and Nevis Gaming Board was also established.
A single license is issued by the nation, allowing operators to conduct a variety of online gambling activities. The process for obtaining a Betting and Gaming License in St. Kitts and Nevis is completed in three steps.
The first step is to apply for a Betting and Gaming License. The second step is to incorporate a company in St. Kitts and Nevis (âthe Companyâ) and the third step is to meet the final requirements of the Betting and Gaming License once the company is incorporated. The first step usually takes between 4 to 6 weeks from the time the application was submitted and mainly depends on how many due diligence background checks are required to be made by the Government.
Once the Betting and Gaming License has been approved, the company will need to be incorporated. It is important to note that Government regulations stipulate that the company name must not have the word âCASINOâin it. There is no limitation as to the maximum amount of authorized share capital.
Once the company has been incorporated, the following requirements must be met to obtain the Betting and Gaming License:
- The company must pay the Government a registration fee of USD 80,000 and an annual license fee of USD 40,000.
- The company must provide a written statement declaring that it will not allow nationals of St. Kitts and Nevis to place bets or conduct any other gaming activities.
- The company must obtain work permits for all non-nationals.
- The company must notify the relevant Government authority before making any changes in its directors or beneficial owners.
- The company is required to consult with the relevant Government authority on the content of any advertisement placed on the Internet.
- The company must open an account with a bank in St. Kitts and Nevis.
Advantages of Saint Kitts and Nevis Gaming Licence
- Saint Kitts and Nevis is also attractive for the simplicity of its gambling laws. Only one license is needed for any type of gambling operation. It doesn’t matter if you run a casino, a sportsbook, or a website that does it all; one license is all that’s needed.
- In addition to licensing and regulation, Saint Kitts and Nevis eGaming provides technical and financial support for the online gambling industry. Some of these services include dedicated services, private cloud servers, international finance, and help with other matters related to running an online casino.
Why Valsen
- 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 legal structures in all major jurisdictions. (Securities, Banking, Insurance, Investment Management, Gaming and many more)
- 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 wide network of qualified and experienced lawyers, chartered accountants, chartered financial analysts, wealth managers, Investment advisors etc. of international pedigree.
- We have a full in-house compliance support for all compliance requirements with the regulator and service providers
- Through our extensive network, we provide sign up services with major service providers including but not limited to; Liquidity providers, technology providers, custodians, prime brokers, legal advisors, auditors, payment gateway providers among others.