Thursday 28 January 2021

Why Setting Up Shop in Costa Rica Appeals To Online Gambling Companies

There are plenty of reasons for online gambling companies to choose Costa Rica as their base.

There are plenty of reasons for online gambling companies to choose Costa Rica as their base.

Online gambling companies are known for making careful decisions about where they set up shop, with financial reasons at the heart of these choices.

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Like most businesses, operators are keen to ensure that they can make as much money as possible and where they base themselves is one of the top ways they can achieve this.

So why is it that Costa Rica appeals to so many online gambling companies as a possible base?

Tax rules attract dozens of operators

Around 200 companies in the online gambling industry call Costa Rica their home right now.

One of the main reasons why this is the case is that no taxes are charged on either companies or industries that operate in the online gambling sector.

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This can save businesses a massive amount of money compared to a lot of other places around the world, which means Costa Rica is something of a no-brainer for many firms.

More to the point, gambling licenses simply do not exist in Costa Rica. What this means is that it is not just the most cost-effective place to run an operator, but one of the easiest countries in the world in which to get up and running in the sector too.

There are not too many complications in running online gambling companies in Costa Rica. But one thing that businesses must be aware of is that local banks will not necessarily agree to facilitate payments to and from online gambling firms. It might therefore be necessary to bank offshore when setting up an online gambling operator in Costa Rica.

Infrastructure is set up for online gambling

Of course, online gambling companies will need to make sure the right infrastructure is in place before they opt to select Costa Rica as their base.

The good news is that Costa Rica is set up perfectly for online gambling firms, with independent high-quality physical servers available to be used in the country.

Servers are one of the top things firms in the sector need to consider and this is never going to be a concern for those that set up in Costa Rica.

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Using a server in Costa Rica is crucial. This is because doing so ensures that the company runs by the rules and regulations of Costa Rica, rather than any other country.

Online gambling companies in Costa Rica will find that the nation has everything they need.

Incorporating a company is quick and easy

New operators often choose Costa Rica as their base due to the fact it is very quick and easy to incorporate a company there.

Indeed, the process can take just a couple of days to be completed. Anyone in a rush to get up and running in the industry will surely be happy with how it all works in Costa Rica.

Using the Limited Liability Company – known locally as the Sociedad de Responsabilidad Limitada – is probably the easiest way for online gambling operators to set up shop. Alternatively, setting up as a Public Limited Company – Sociedad Anonima in Costa Rica – is a good option.

Whichever route that new online gambling operators choose to go down, it is a straightforward process to get started in Costa Rica.

America’s Cardroom, BetUS, Realtime Gaming and Wagerweb are among the online gambling companies set up in Costa Rica, as well as many others that are providing readers with exclusive deals in exchange for signing up for an account.

Being able to save money on taxes by setting up shop in Costa Rica helps these online operators to create more tempting bonuses and promotions aimed at new users.

Will Costa Rica remain popular for online gambling companies?

It is hard to imagine why Costa Rica would stop being an attractive choice for companies that are operating in the online gambling industry.

With no taxes – because online gambling is banned in the country, meaning no revenues can be raised there – few other nations are able to compete with Costa Rica on a financial basis.

As long as the country remains relatively stable, both economically and politically, it seems set to continue as a top choice for the online gambling sector for many years to come.

What could stop this being the case is if another country tried to take over from Costa Rica. They would need to find a way to be even more appealing, though, which seems unlikely.

Costa Rica being a premier destination to start online gambling companies is here to stay.

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We strive for accuracy in its reports. But if you see something that doesn’t look right, send us an email. The Q reviews and updates its content regularly to ensure it’s accuracy.

Carter Maddox
Carter is self-described as thirty-three-and-a-half years old and his thirty-three-and-a-half years birthday is always on March 3. Carter characteristically avoids pronouns, referring to himself in the third person (e.g. "Carter has a question" rather than, "I have a question"). One day [in 1984], Carter, raised himself up and from that day forward we could all read what Carter writes.

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