If you are considering opening a gaming business in the Kahnawake region, then you have made the right decision. The next step is to ensure you get the necessary licenses that allow you to run your gaming business securely. Kahnawake offers a comprehensive gaming structure that is effective and transparent.
This article provides you with all the travel insights you need to know to get started with your gaming business in Kahnawake.
An Overview of the Kahnawake Gaming License for Outsiders
Before traveling to Kahnawake for the gaming business, you must know that there is a comprehensive gaming framework to get this license, as detailed here – https://inteliumlaw.com/gaming-license/kahnawake/. This framework aims at maintaining a safe and transparent gaming space for everyone. The Kahnawake gaming license was introduced in 1999, and its issuance is done by the Kahnawake Gaming Commission. With this license, gaming companies are vetted to ensure the security of gamer’s data.
There are different gaming license types issued by the Gaming Commission, and they include:
- The Interactive Games License (IGL)
- The Client’s Provider Authorization (CPA)
- Software Vendor License
- Licenses for key persons of the company
What is the Process for Applying for a Kahnawake Gaming License?
In Kahnawake, the standards set by the gaming commission for the gaming license requirements are very high. First, the company seeking the license needs to establish a corporate presence in some jurisdiction. After that, an application is made to the commission for a gaming license.
Here, all the necessary documents are provided and reviewed by the commission. Due diligence is conducted, and decisions are reached to provide a 6-month preliminary permit. This is more like a probation period, after which the commission conducts a compliance audit and review. If the company fails, the preliminary license is withdrawn. When it passes this stage, a full Client Provider Authorization is given, valid for five years.
What Does a Kahnawake Gaming License Cost?
It is not enough to know how to open a gaming business; you must also know the cost. The cost of a Kahnawake gaming license is currently around 40,000 USD for the initial license and a subsequent 20,000 USD annual renewal fee. Also, aside from the cost of the license, it is important to note that the annual fee varies based on the license type you have. When all costs are paid, the processing times take between four to six months.
Why Should You Get a Kahnawake Gaming License?
In a market of several licenses, it is normal to know the benefits you stand to enjoy before you start the process of how to get gaming license. Compared to its counterparts, there are some unique benefits you stand to enjoy only when you get this particular license. The most of these benefits include:
- You enjoy the freedom to carry out your gaming activities anywhere with due regard to the applicable restrictions and local gambling regulation. You can also work with notable game providers in the industry.
- You do not have to worry about the burden of taxation as there is a 0% tax rate, which makes it a great place for companies that want to maximize profits.
- A thriving atmosphere for high player acceptance, safety from legal troubles, and partnership opportunities with other operators.
Conclusion
When starting to open a gaming business in Kahnawake, ensure you are familiar with the gaming laws and rules of the Gaming Commission. You will also need to get all the necessary documents before so that you can start and complete the process as quickly as possible.
