Proposed changes of the Law known as National Ordinance on Games of Chance, or LOK:
- Tolerance for Cryptocurrencies until Crypto related legislation comes into force
- The exact license fees have not yet been determined, but they will be competitive. Those who meet the requirements for real economic substance may be eligible for fee reductions.
- Real Economic Substance Requirements: Only legally established entities in Curacao will be granted online gaming licenses. Within five years, a physical office and the employment of at least three key personnel on a permanent, full-time basis will be required. New businesses may be exempted from such requirements.
- Existing operators will be granted a transition period of 18 months to comply with the new legislation by applying for a government license within three months of its implementation.
- A web-based application portal will be established for the pre-licensing of operators.
- The license will be non-transferable and cannot be sub-licensed.