Gambling License in Panama
If you are planning to set up an online casino or organise online betting, the gambling license in Panama can be one of the most interesting options. Located in North America, Panama is a well-known and developed jurisdiction that has been issuing gaming licenses for more than 20 years. And now Panama remains an attractive option for registering a gambling business.
Our Panama Gaming License Services
Our professional and experienced team is competent in supporting clients in obtaining the Panama online gambling license. We can assist you from the gaming license consultation in Panama to the opening of a legal entity and communicating with the Regulator to meet the requirements.
Licensing Process Overview: Panama
The Gaming Control Board, or Junta de Control de Juegos, oversees the licensing process for casinos in Panama. The first step is to submit an application that includes information about the company, its key executives, financial soundness and business plan. A description of the proposed gaming activities, identity, proof of financial capacity and the company’s articles of incorporation are required.
The Gaming Control Board conducts extensive evaluations, including financial audits and background investigations. Upon completion of the application, a provisional license is issued, allowing the company to operate under close supervision. During this time, operations are reviewed for compliance. If successful, a permanent gambling license in Panama is issued. Frequent audits and inspections ensure continued compliance with Panamanian law and maintain the integrity of the gaming industry.
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Requirements for Obtaining a Gaming License
Cost and Fees: Panama Gaming License
Once your application is approved, you will need to pay $40,000 to obtain a license. You will also need to pay an annual fee of $20,000 to renew your license.
Benefits of Choosing a Panama License
Tax advantages
The tax laws in Panama are advantageous to those who run gambling. One major financial benefit is that income from activities outside the country is not taxed.
Simple to launch a business
Operators looking for less complicated regulation find Panama appealing because it is comparatively easy to create and receive a gaming license in comparison to some other jurisdictions.
Numerous gaming options
Operators are able to run many kinds of aggregators with a gambling license in Panama, such as poker, sports betting, casinos, and other activities.
Organizational simplicity in business
Operators looking for less complicated regulation find Panama appealing because it is comparatively easy to establish and receive a gaming license in comparison to some other jurisdictions.
A strong financial sector
Operators can effectively manage their funds thanks to Panama’s well-developed banking industry, which guarantees safe financial transactions.
Ensuring Compliance: Regulatory Considerations
The Panama Gambling Commission skilfully monitors and constantly checks gambling activities to ensure that they comply with strict safety and legal regulations. Therefore, we recommend to show the Regulator your responsibility and reverently for legal compliance from the beginning of a gambling license in Panama obtaining. We can also provide additional Panama regulatory compliance services upon request.
Expert Assistance: Navigating Panama Gaming Regulations
The gambling license in Panama is regulated by a number of regulations that have been amended and supplemented over time. The Gambling Control Board passed Resolution No. 65 of October 25, 2002, allowing online gaming in Panama, in an attempt to market the country as a igaming destination. The resolution aimed to guarantee the growth of gambling and other long-distance communications under specific limitations. The Government of Panama modified the requirements and limitations for this activity with Resolution No. 11 of March 6, 2020.
