To obtain a license from Belize, an online casino must apply to the Gaming Control Board. It is valid for 12 months and costs $ 10 000. However, it can be renewed. For this, it must apply 60 days before the licence expires. If the expired licence is accepted, a fee of $ 10 000 is levied.
Different criteria are needed to obtain a license. The company must have customer service in the country. However, the servers can be elsewhere. It can not offer online games to the residents of Belize.
The request must be made by an international business company based in Belize. Substantial financial resources are necessary. Similarly, competence and reliability of the board of directors and management of the company are taken into account. To verify this, copies of the company’s accounts for the past 3 years are notably requested.
Security of the deposits and reserves with the Central Bank of Belize for the payment of debts arising from online games should be provided by the applicant. Conformation to the rules of the commission is required for this. The establishment of this new legislation which legalizes online gambling is an attempt of Belize, to attract investors. The regulation and administration of online casinos are managed by the Gaming Control Act. This text is based on those of other countries that also offer licenses permitting gambling on the Internet.