For those that are considering starting a gambling platform, in his latest column for Yogonet, iGaming industry consultant Ron Mendelson lists the main benefits of the Kahnawake license.
The Kahnawake online gambling license is one of the most popular in the iGaming sector. As corporate service providers for the online gambling sector, it is also one of those we are asked about most.
Great reputation
The Kahnawake license has one of the best reputations in the world when it comes to being an ethical regulator. The Kahnawake Gaming Commission has worked hard to establish itself as a trusted name and to ensure all licensees uphold their standards. The Commission does not take kindly to those that violate the rules, engage in unfair practices, or take advantage of customers and players in any way. This means that games must be fair, operators must deal with complaints swiftly, and all payments must be made in optimum time. Suspensions can occur if misconduct is found and there are times that licenses have even been revoked. If you want a license that brings with it confidence and security for your players, and protection for you as an operator. Kahnawake is a great option.
Quick
The licensing process is relatively quick and simple when compared to some other jurisdictions. The application takes around 2-3 weeks and you will have a preliminary decision and provisional license within 10 weeks. Your license is then valid for a year with an option to extend, subject to your strategy and the Commission being satisfied with the way you run your operations. To make sure things move along quickly, be sure to have all the documents you need ready, recent (no older than three months), and translated and certified into English if necessary. Be aware, you may also need to have some documents certified by your national authorities. Not having these documents ready or in order can result in delays in the application and approval process.
Cost-efficient
The Kahnawake license is not the cheapest around, but it is one of the more cost-efficient options. When applying, you should pay $40,000 which includes the application fee and the first year of licensing fees. Be aware, there are other costs including couriers, certification and translations, and the fees of your corporate service provider. That said, the total cost is still much lower than elsewhere and it is well worth the investment. Fast Offshore offers off-the-shelf and custom packages including all the ancillary services you might need such as company incorporation, payments, compliance, and ongoing maintenance. This way you can control how much you spend, and have full transparency every step of the way. Just contact us to discuss your options and to get a quote.
Responsive authorities
The Kahnawake authorities are extremely responsive when it comes to working with operators. Their team monitors all activity, deals with player issues, and maintains ongoing dialogue on various matters. They are approachable and professional with extensive experience in the iGaming sector. Furthermore, they are welcoming to operators and want to continue growing a popular and reputable iGaming licensing jurisdiction. Fast Offshore also has a great working relationship with the Commission and can easily liaise and be a first point of contact between you and them, leaving you to focus more on your business.,
Accessible
Holding a Kahnawake gambling license gives you access to markets the world over. Of course, you cannot provide your gambling product to countries that are under sanctions or on the FATF blacklist. You are also prohibited from offering them to US residents and citizens, but otherwise, this license gives you a broad range of markets to choose from. This allows you to expand as you see fit and to work with players from multiple continents.
Great fiscal regime
Last but not least, there is zero tax both in terms of income and gaming. This is one of the lowest in the world but is still in line with international rules and best practices. A low tax rate such as this means you can reinvest your profits into your business, expanding your game portfolio, fine-tuning the site, and bringing more innovation to your players.
Fast Offshore has been working in the online casino sector for over 26 years. Our team is ideally placed to assist you with every step of the process and manage your corporate needs going forward. To speak to a member of our team today, contact us here.
Original article: https://www.yogonet.com/international/news/2023/02/22/66184-benefits-of-the-kahnawake-gambling-license
