Opening and operating an online gambling business in Kahnawake is not only possible; it also holds a host of opportunities. However, to freely run such, you need to obtain a Kahnawake gaming license. Otherwise, operating a gambling business in Kahnawake without a license is strictly prohibited and punishable by the jurisdiction’s law.
The Kahnawake Gaming Commission (KGC) is in charge of license issuance and the supervision of in-game activities, among other things. To learn more about this gaming license, you can read this: https://inteliumlaw.com/gaming-license/kahnawake/. Then, if you’re ready to start your Kahnawake online gambling business, this article provides all you need to know about how to get a gaming license.
What Are the Requirements for Obtaining a Kahnawake Online Gambling License?
The rules are the same for all seeking to start an online gambling business in Kahnawake, whether you’re a resident or not. Fulfilling these requirements is the key to obtaining this license and operating freely in Kahnawake.
- Your company must be formalized in the local registry
- You should have certified software that meets the standards of the KGC
- Your gambling company’s servers must be situated in Kahnawake
- There should be no criminal record; all involved parties must have a sparkling-clean reputation
- You should have at least one shareholder, and you must appoint a manager or key person
- It must be an independently audited company
- Your company should have RTP/RNG certificates
- You should have a functioning website with ownership of the domain
Kahnawake Online Gambling License Procedure: A Step-By-Step Guide
It takes roughly six months to get a Kahnawake gambling license, but it consists of phases that must be diligently handled. Below is the step-by-step process for applying for and obtaining an online gambling license in Kahnawake:
● Step 1: Preparation and Compliance
Within the first three months, you will need to ensure your company is in compliance with all the Kahnawake gaming license requirements. That includes the availability of the required capital and a well-written, robust business plan. Although this step can take up to three months, you may finish quicker if you are efficient in your preparation.
● Step 2: Application
Next, you need to submit an initial application to the KGC, which will review and investigate the process. This step can take four to eight weeks, depending on your cooperation, readiness, and swiftness in providing all needed documentation.
● Step 3: 6-Month Permit
Upon the KGC’s discretion, the applicant will get a six-month provisional license with a few conditions to follow. Also, the company gets a contact information sheet, and it must undergo an audit to review its Schedule 1 Control System Submission.
● Step 4: Getting the License
Once the company audit has been completed and satisfied the requirements of the KGC, the full license is issued. This full Kahnawake gambling license lasts for an extended period of 5 years.
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Documentation Required to Obtain an Online Gambling License in Kahnawake
Below is the list of documents the KGC will generally ask for when you’re applying for the gambling license:
- Your license application
- Information about the company
- A detailed description of your software and games
- The security mechanisms you’ve put in place
- A three-year financial report
- Written consent from the owner of interactive games to add a permit to the main license
- Directors’ names’ list with their resumés
Conclusion: Kahnawake Gaming License Cost
Before you can apply for the Kahnawake online gambling license, you must pay a first annual license fee of $20,000. This fee serves as a commitment to getting the Kahnawake license; it will be refunded if you don’t eventually get the license. Apart from this, there are other Kahnawake gaming license costs that may be incurred, including:
- $15,000 due diligence fee
- $5,000 key person’s license
- $20,000 annual license fee
- $5000 to renew the license (every five years)
- $1,000 for the annual maintenance of the key person’s license
