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A deep dive into the Kahnawake online gambling license

A deep dive into the Kahnawake online gambling license
A deep dive into the Kahnawake online gambling license

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A deep dive into the Kahnawake online gambling license
A deep dive into the Kahnawake online gambling license

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Friday, 4 November 2022

Over the last decade, the Kahnawke online gambling license has become one of the most popular and sought-after for startups and established names combined. It is the ideal solution for those who are looking for a cost-effective solution that is quick to get, easy to maintain and that offers a great reputation along with it. In this guide, we will take a deep dive into the license; how to get it, what to expect, and any quirks to look out for.

Reputation

Kahnawake is one of the most respected online gambling licenses around. This is due to the stance taken by the Kahnawake Gambling Commission which is non-nonsense and insists on strict adherence to the rules. Over the last few years, in particular, an emphasis has been put on ensuring fair gambling, responsible playing and fine attention to detail regarding supervision. In addition, the regulators are extremely efficient and reliable, processing all applications quickly and dealing with licensing matters much quicker than other licensing bodies. It is important to note that this reputation Kahawake has earned means as a licensee, you have to work hard to abide by the rules. Failure to do so can see you in hot water or even getting your license revoked.

Set up time and cost

The quick set-up time is one of the big draws of the Kahnawake license. It can take four to eight weeks to get in hand, as long as all your papers are in order. You then have six months to get to grips with the jurisdiction before your permanent license is handed out. At this stage, some decide to move elsewhere, while others decide to retain the Kahnawake license and build their business before making a move further down the line. But the costs associated with the setup are also enticing for entrepreneurs as they remain competitive and affordable, especially compared to some EU licensing authorities. The fees are at a level that startups and more established businesses can afford, while leaving more to plough into further business development.

Peculiarities

All licensing jurisdictions have their quirks, and Kahnawake is no exception. Instead of applying just for one license, you need to apply for two; one to offer online gambling and another for those with key positions in your operations.

To offer online gambling services from Kahnawake, you need a Client Provider Authorisation. This license allows the holder to operate their online gambling company from the territory and to offer every kind of online gambling, including betting, casino, slots and more.

You will also need a Key Person Permit which is issued to the person(s) responsible for managing all matters relating to the activities of the gambling company. They could include the CEO, heads of department, other C-level executives, directors, or those in charge of technical support.

Compliance and maintenance

Your Kahnawake license will need to be extended every 12 months. This means updating any information and paying fees, as well as applying for new Key Person Authorisations if individuals within the company have changed in any way. In addition, you will likely have auditing, reporting, meeting, and potentially fiscal obligations for your companies which will also need attention. The best way to manage these is by engaging a corporate service provider to do the heavy lifting, leaving you to focus on the business.

Taxation

If you open a Kahnawake gambling company, you will enjoy zero tax on all gambling income. This makes it a great option for startups who want to keep costs low while investing capital into expanding the future of the business.

Licensing process

  1. You will need to register two companies; an offshore company which will hold the license and an EU contracting company which will facilitate operations in Europe under a partnership agreement with the offshore company.
  2. Next up, it is time to prepare the application and all documents relating to directors, shareholders and ultimate beneficial owners. These would include copies of ID, proof of address, CVs and other forms of due diligence. The Commission then starts checking compliance with their standards, such as fair play, transparency, and a clean bill of non-association with any criminal activity and a robust anti-underage gambling policy. At this stage, it is also necessary to prepare policies such as KYC, AML, RNG and responsible gambling, amongst others.
  3. The first license is issued for six months, and when it expires, the commission will issue a second one which is extendable every 12 months as long as everything is in order.
  4. The process requires careful preparation and ensuring all documents are in line with requirements. For this reason, it is better to do it through an experienced corporate service provider who can help you every step of the way.

Fast Offshore

We have two and a half decades of experience in the online gambling sector and have been working with the Kahnawake Gambling Commission since day one. During that time, we have helped many clients, just like you, get licensed, and seen them go on to achieve great things. To discuss your options, please contact a member of our team and take your dream of iGaming success to the next level!

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