Casino Cyprus: All information about the well-known commission
Cyprus is an independent country whose economy is based mainly on tourism - but also spiell licenses! Although gambling in the southern part of the politically two-part island are illegal, the practice of gambling in the north of the country is still strongly widespread. This has been supported by government for some time now. The Lotteries and Gaming Authority offers various areas of gambling industry various Licenses at.
The details of the license issued by the Government of Cyprus
Currently, some of the world's most famous online casinos have a license issued by the Cypriot Government. Even if the gambling were prohibited by 2007 - with the exception of the sports betting - so the revision of the BETTING ACT has enabled full regulation and adaptation to the latest European guidelines in relation to gambling. As for the costs, taxation and necessary certifications for the preservation of a license of a foreign provider based on Cyprus, one must contact the article 75 of the Collective Gambling Regulation (I). Companies that would like to acquire a license are obliged to ask the Ministry of Finance and may submit an application per year if their application was rejected in the previous year. For the processing of the dossier is a fee of 8.543 $ due. Of course, the company must also comply with all compulsory criteria and compliant with the conditions of Companies Law Cap. 113. She also has to:
- Be a limited liability company registered in the register of Cypriot companies, existing the test on "competence and fairness", which proves their integrity and agree to a tax liability of 35% of their net revenue.
- The company must announce information about its managing directors and possible shareholders. The identity of the persons concerned must be reviewed and the financial data must be transmitted to the Ministry of Finance.
- The company must prove that it has the necessary skills to carry out commercial activities on Cyprus. Diploma, accreditation certificates, business plan and bank accounts are checked in the topic before issuing a possible license.
- The casino provider must be authorized by a Cyprus-based game company.
- A warranty payment over 340.000 $ must be paid over a commercial bank in Cyprus. This sum should secure the payment of dividends, but also make sure that players will receive their profits if the company goes bankrupt. Otherwise threaten to show.
The credibility and availability of the Cypriotic license in USA
You will find that the Cypriot legislation is very permissive or at least deficient in certain points. For in the past, numerous online casinos in Cyprus were able to carry out their business without any authorization and ignore the law unintentionally. Today, things change and the Cypriot government has taken efforts to regulate the market. Fact is: The casinos are more serious today than it was the case a few years ago. Make sure you only play on the pages that appear on the White List of Lotteries and Gaming Authority. This is a list of trusted homepages.
Interesting facts 2021 about the Casino Cyprus licensor
Experience interesting information about certain companies is fun as we find. That's why we would like to betray a few clues to the authority. Did you know that you can not run online gambling on Cyprus? A funny anecdote, because just there is the well-known authority for online licenses. How to see that one does not exclude the other. Of course, the Ministry of Finance knows and monitors the machinations. The recording criteria are as strict. Not everyone gets a license on Cyprus.
There are a few good casinos that own a Cyprus license. Who does not want to look for it, surfs directly at the licensor and looks there, who is licensed and who is not. If you do not find anything suitable online, we advise you, ask directly at the customer service. The licensor is happy to help, after all, this is there for the customers.
There is another hard fact that we would like to pass on. The speech is from Bingo. Unusually many online casinos licensed on Cyprus offer Bingo. Who is interested in this game, also finds help on the page. This may be because the licensor also knows well with this gambling industry. Finally, it requires own licenses for each game so that they can be offered in their own country. Who does not hold on the rules, gets an ad that applies to bingo and co.
How to recognize a serious online casino?
This question asks many players looking for a new online platform. Well, on the license you can see this definitely. If you do not know how to check the authenticity, we explain this. You will find the casino list offers directly on the licensing industry pages or you request them. If you do not have something to give you kosher, contact the Commission. This takes care of it and helps you. Serious casinos are SSL encrypted, cookie has information and present the privacy policies. You should already see that a lot.
Can US players play on websites licensed in Cyprus?
As with all other commissions, it is a gray zone. Actually not because the legislator, USA states that all players should play in their own country. Nobody should found until long. Legal it is only if you play directly in USA. For the reason you should also stick to the laws. Even if nothing worse happens, it may be anytime that you do not get your profits paid out. That would not be so nice. Book an inclusive holiday and fly to Cyprus if you want to get to know it.
Where to find the license information on the online casino pages?
As a rule, the license information is indicated at the end of the website. There you will find the license number, the authority and the other important corporate information. A kind of imprint. Sometimes there is the logo to see the Commission. If not there, look in the terms and conditions or in the imprint. Do not find any hints, fingers away, in the case the casino is not trustworthy. A serious casino does not hide his license instructions. Also read reviews on the Internet. This information helps you whether the Euro Casinos are serious or not.
What else need to know, Cyprus is not the only European country issuing the licenses for online casino games. In our list you will find more: