Best Online Casinos licensed in Gibraltar
Gibraltar Regulatory Authority (GRA) is the statutory body responsible for supervising and regulating the electronic communications sector.
The GRA was established in 2000 in accordance with the Gibraltar Administration's decree. The body is responsible for regulating the electronic communications, as well as the online gambling sector as stated in the law on gambling. The Gambling Ordinance was adopted in 2005.
GRA basically issues licenses only to trusted gambling providers. In order to obtain a license, it is always required a mandatory auditing of software. Only after proving a good business reputation of gambling provider, the license can be issued. This means the provider proves itself as reliable, he also must provide a consistent and realistic business plan.
A casino, which wish to be licensed in Gibraltar, must also provide a list of key company employees. This includes directors and top managers, who are leading the company in the territory of Gibraltar.
The license of Gibraltar is not easy to get. So far the GRA has issued just 22 gambling licenses. The lucky brands are including such buzzy names as Ladbrokes, Bwin, Victor Chandler, St MinVer and 888.com.
Remote gambling licenses must be reviewed annually for £ 2,000.
The tax rate is 1% of the company's total profit with a maximum limit of 42,500,000 pounds. This is extremely low-taxed model, considering immodest earnings of licensees.
For tax reasons, as well as for the purpose of preventing money laundering and ensuring consistent auditing, the bank accounts of all licensed companies must be controlled by these companies. Licensees have to provide their audited accounts on an annual basis.
Licensed gambling providers have also to be controlled and managed in Gibraltar as long as the license is valid.
You can check a list of all companies licensed in Gibraltar on the GRA website. The list contains company name, its Gibraltar address, contact information and also a type of license (casino, fixed rate or financial spread betting).
In fact, the Gambling Ordinance of 2005 made an impact on the entire European and global online gambling markets while bringing new business opportunities to Gibraltar. The licenses issued by Gibraltar are a prerogative and honor for extremely exemplary and most respected companies, operating in full compliance with the law and having an impeccable and reliable world reputation.