Annually thousands of new gambling operators apply for a Kahnawake license. Currently, the permit of this tiny settlement in Canada is one of the most desirable among industry business mans. Let’s see what is the reason for such popularity of this jurisdiction and why the Kahnawake gaming license is a perfect option for both start-ups and large and developing gambling companies.
The issuing period
Firstly, the application procedure in Kahnawake is pretty straightforward and the consideration period is shorter than in most other locations. Local licensing body works fast and effectively and usually the application process doesn’t take more than 4-8 weeks. The same terms for the check and issuing the document. Of course, the waiting time may increase if the commission has questions about your documents. The workload of the regulator and the number of applicants also affect the terms for issuing a license.
As new casinos which are your potential competitors appear permanently, an issuing period matters. It is worth noting that there are jurisdictions where the period for issuing a permit is even shorter (for example, Curaçao). However, together with the rest of the benefits, the Kahnawake license is a gem for any gambling operator.
Low expenses and taxes
A lot of newcomers are afraid of the huge price of obtaining a license. Kahnawake’s licensing fees dispel those fears. Again, you will pay more than in Curaçao, but the amount is still more than affordable. When applying for a document you are obliged to pay $35,000. This price is much cheaper than in other respectable jurisdictions such as Malta or the United Kingdom. In addition, there is no need to pay the authorized capital. This is a huge plus, because the saved funds can be directed to the development of the platform.
Moreover, Kahnawake is known for their attractive tax policy. Gambling enterprises are not subject to taxation. Operators pay neither corporate tax nor gambling tax. This is also a perfect condition for beginners, because it gives an opportunity to quickly bring a business to a good income.
Unquestionable reputation
It is difficult to overestimate how strongly the reputation of a jurisdiction and its licensing regulator affects the attitude towards holders of an issued permit. The Kahnawake license is synonymous with reliability, honesty and quality. The Kahnawake Gaming Commission closely monitors compliance with the law and cuts down any attempts to violate the rules of fair gambling. This provides clients of locally licensed platforms with the assurance of security and increased willingness to play.
The above is the reason why the Kahnawake license is a tidbit not only for small, but also for large businesses. The prospect of obtaining one of the most respected licenses along with world-famous gambling companies is undeniably tempting.
Versatility
While in other locations operators must obtain several separate licenses for different gambling services, in Kahnawake it’s enough to get just one. The permit covers both iGaming and bookmaking and, in addition, it allows operating on all markets, except the USA one. Note that despite this, before entering any new market, it is necessary to check whether your platform complies with local legislation.
What are the reasons for obtaining a license?
Those who believe that obtaining a gambling license is a waste of money, and you can work without this document are deeply mistaken. Yes, in many countries gambling is still in the gray zone, but owning a license from one of the offshore countries allows you to operate legally and avoid problems with the law. This is the main, but not the only reason why you need a license. Among others is the inability of illegal operators to buy official games and cooperate with other industry representatives. And the worst thing is the distrust on the part of your potential customers, due to the habit of regular players to check for permission.
How LicensingAid can help you?
Our experts can provide you with full support with the following things:
- Preparing documentation for applying for the license
- Filling the application
- Resolving all emerging issues
- Opening a bank account
- AML compliance
- Trademark and design consultancy
- Drawing up a marketing plan
- Etc.
Feel free to contact us for more information about license acquisition in Kahnawake and other jurisdictions.
