[vc_row][vc_column][vc_column_text]Online gambling business is a fast-growing service activity in the world. Its economic importance is clearly demonstrated by the high level of innovation of gaming operators around the world, as well as the increasing amount of tax revenues generated in those countries that allow this activity.
However, there’s no single piece of legislation that covers the legality of online gambling for the entire world. Instead, most countries have their own national laws that deal with the relevant legal and regulatory issues. These laws can vary wildly from one region to the next, which means that what’s legal and what’s not depends entirely on your place of activity.
Gambling Laws in Spain & Europe
There is no sector-specific EU legislation in the field of gambling services so EU countries are autonomous in the way they organize their gambling services, as long as they comply with the fundamental freedoms established under TFEU. This means that every country within the EU can regulate gambling as they see fit.
WHAT IS AN ONLINE GAMBLING JURISDICTION?
There are certain regions in the world that have specific legislation in place that allows them to license and regulate companies that operate online gambling sites or provide industry. Spain is part of these regions. These regions are referred to as online gambling jurisdictions or licensing jurisdictions.
PREVIOUS REQUIREMENTS TO REQUEST GAME LICENSE
- You need to form a company in the EU area
- The company must:
- Accredit its technical, economic and financial solvency.
- Appear registered in the Special Section of Concursors of the General Registry of Gaming Licenses.
- Be in possession of the minimum paid-in capital in the amount established in the bidding rules.
- Be in possession, either in its own name or through entities of its business group or third parties, of the technical means that ensure compliance
- Proof of compliance with any other conditions and requirements established in the corresponding call and, if applicable, have constituted the guarantees in the amount and in the manner required.
- Approval of technical game systems
Types of Licences
A) General License
Those interested in the development of non-occasional gambling activities must obtain a general license for the following modalities:
- Bets
- Raffles
- Other games such as poker or roulette
The validity of general licenses will have a duration of ten years and may be extended for a period of identical duration.
B) Individual Licenses
The holders of a general license for a certain type of game may request a unique license for each type of game of the respective modality.
The validity of singular licenses shall have a minimum duration of one year and a maximum of five and shall be renewable for successive periods of identical duration.
Time is running out
If you are interested in obtaining these licenses you have time until December 18th of the current year. After that, licenses won’t be available for 2 or 3 years.
What can Lexidy do for me?
At Lexidy we can help you get your license before it’s too late, as well as form your company and help you with all the accounting issues you may have. Contact us and get a free consultation!
