It’s a fast-growing sector of e-commerce: e-gaming is more popular than ever and all signs indicate continued growth in the category.
But before you open up your online sports betting, poker or casino business, be sure to get professional advice on reducing the risks – as well as your tax liability.
Each game requires its own license, and CS&P will help you navigate the bureaucracy and cut through red tape
CS&P tax and finance professionals can help you set up your business in an offshore tax haven the laws of which have been designed with e-gaming in mind. So you’ll pay no tax on the profits of your business or on the proceeds you invest.
CS&P government license professionals have expert knowledge of the laws and regulations of each offshore e-gaming market. As each type of game requires its own license, CS&P will be able to help you navigate cumbersome bureaucracy and cut through red tape, using our knowledge of each local market to be sure all the documents for pertaining to your application are in order so your license can be obtained.
Problem: Joan wants to start an e-gaming business offering sports betting, an online casino, and online poker. She intends to create three separate websites for each of the gaming businesses. While she knows a lot about the betting side of the business, she knows very little about what it takes to open an online gaming business. Her biggest worries are doing everything legally, not getting into trouble with gaming authorities, and not having to pay taxes on her profits.
Solution: We can set up a legal entity in a tax haven country with favorable laws for establishing an e-gaming business to own and operate the websites. The offshore legal entity will pay no income taxes on the profits. The proceeds can be held in that country’s offshore bank accounts and will earn interest tax free.
The local gaming licenses can be obtained by using our Government Licenses services. Each e-gaming activity will require a separate gaming license from the tax haven country: online casino, online sports betting, and online poker. We are experts in gaming licenses because we know the countries laws and application procedures along with the required documents.
Joan will be able to acquire the necessary gaming licenses and operate the three e-gaming websites knowing that she legally avoids paying income taxes on her earnings while keeping the funds in a safe and secure offshore bank account.
With our E-gaming services our clients can obtain gaming licenses with tax free income.