Alderney’s license for online casinos has again become in demand in recent years. This license does not have a tax rate, market restrictions and does not imply any limits on rates. All this made the local jurisdiction an ideal option for the first steps in the field of online gambling.
At one time, Alderney’s reputation was dealt a significant blow after Full Tilt was declared bankrupt with huge debts. But one failure cannot do as much damage as many thought. An interesting fact: the regulatory system for this license is highly rated by leading experts. Alderney Island is British and is located near France, so the weather is always good here. Most eminent analysts choose this island as an offshore.
Since the island belongs to the British crown, the pound sterling acts as the local currency. In view of what, buying a license for online gambling looks as interesting as possible. Moreover, limited liability companies are fully exempt from corporate tax, and the amount of additional tax will be calculated on the basis of a license fee.
For operators working in the B2B sector, the tax will be 35-140 thousand pounds annually. B2C companies pay only 35 thousand a year. Soon there will be another additional fee of 100 thousand pounds.
The local banks have been conducting money transactions for casino users in local jurisdictions for the past few years. This means that from the point of view of financial management, working in this jurisdiction is as safe as possible, and all payments are guaranteed to reach the recipients. The owner of an online casino can be sure that the financial part of his project is well protected.
Licensing Details for Alderney Casino
Only organizations with limited liability can take advantage of the opportunity to get into this jurisdiction. As mentioned above, the corporate rate is zero, in other words, there are no taxes. In addition, there is no additional gaming rate in this jurisdiction.
Most investors also come here because of the ridiculous amount of registered capital (2 pounds) for organizations working in the gambling field.
The creator of the game portal must use the entire available range of mechanisms to protect user accounts. The level of protection should correspond as it was stated in the business plan.
If theft or fraudulent activity with the purpose of hacking accounts and theft of funds is detected, all financial losses of players must be compensated.
Price policy. Tax rate
The cost of licensing is tied to the category of licenses that are provided for organizations B2B and B2C. So, for the first category, the tax will be calculated on the annual income basis. For newcomers to the market, working in the gambling field for the first year, there is a relaxation, the tax in the first year is only 35 thousand pounds for them. But if the company has been operating for more than a year, then the tax is formed on the basis of income:
● Profit less than a million – 35 thousand tax;
● Income from a million pounds – 70 thousand;
● From 5 to 7.5 million – 100 thousand pounds;
● Revenue over 7.5 million – 140 thousand.
But if the operator works in the B2C category, then he will pay only 35,000 annually. This amount will be distributed as follows:
● Accented certificate will cost £ 10,000 – it is purchased by gambling providers.
● Temporary use of a license costs £ 10,000. For the same amount, you can restore the license.
The license of local jurisdiction is valid for 12 months.
Key Features of Alderney License
Consider the key parameters of the document:
● The process of in-game transfers through the computing power of local banks;
● Presence of all bandwidth types that are available in the global market;
● Basic software requirements: software must comply with standards published by AGCC;
● Reporting and revenue management requirements: financial statements for each month should be sent to supervisory authorities;
● All companies undertake to comply with AML rules aimed at preventing money laundering and financing terrorist organizations;
● Advertising your own product and providing gambling services is allowed around the world.
Liaison with the regulatory body or government department
Alderney’s contact person is Robin Le Prevost, who serves as director of e-commerce on the island.
Address: 15, St. Ann, Alderney, Channel Islands
Official Website: alderneyGambling.com
Why is Alderney so good?
The island leadership is confident that any business has the right to the most comfortable tax conditions. So Alderney is ready to license almost any online casino, allowing it to grow and develop. Local jurisdiction has undeniable advantages:
● entry into the market of any country – online casinos can operate in the territory of any state;
● proven mechanism for obtaining a license;
● stable and sustainable political and financial environment.