Online Gaming in Costa Rica

Costa Rica is the Las Vegas of online gaming, with more than 300 companies that offer sports betting, casino games and poker rooms calling the country home.

 

Costa Rica has a long, rich history with all forms of gambling, but why has it become the Mecca for online gaming? There are three basic reasons: it has the best infrastructure, including a reliable telecommunication system, available in the Caribbean basin; it has well-educated, multilingual workers; and it lacks prohibitive online gaming and Internet regulations.

 

Establishing a gaming company in Costa Rica is very straightforward, essentially involving just three steps: setting up a Costa Rican Corporation, obtaining a Data Processing License, and opening a Costa Rican bank account.

 

Lic Giovanna Barrantes of the Costa Rican legal firm Barrantes & Associates is an expert in this area of law and regularly helps set up companies that want to establish gaming activities in the country.

 

Barrantes says setting up a corporation is the first step, as that is necessary for establishing any gaming business. The cost of set up includes incorporation, taxes, shares, and legal books. Barrantes can also assist with obtaining a Data Processing License, which can be requested in the City Hall of San Jose.  The license includes zoning approval, health department approval, and processing of insurance for employees. 

 

Barrantes adds that setting up a Costa Rican bank account is a simple process that is a requirement for new companies. 

 

The entire country of Costa Rica has thrived because of online gaming. The industry has directly created more than 10,000 jobs and supports thousands of secondary, skilled positions in telecommunications, software development, web design and construction. The online gambling industry generates billions of dollars in revenue for the country, and that’s without a direct tax on company profits made outside the country.

 

The country has welcomed revenue and jobs that other countries have rejected, much to their disadvantage. In the U.S., for example, prohibitive legislation has made it virtually impossible to host a legal casino online in the country.

 

Four years ago, the U.S. government tried to essentially shut down Costa Rica’s online casino industry, but Costa Rica fought those attempts, filing an arbitration application with the World Trade Organization. The WTO supported Costa Rica’s right to host online gambling establishments.

 

After making the bold decision to not impose heavy restrictions on online gambling when the industry was in its infancy in the mid-1990s, Costa Rica has become a world leader.

 

 

For more information on Costa Rica, contact Lic Giovanna Barrantes at               1-800-979-4174       or at info@lawyerofcostarica.com, or go to Barrantes & Associates.

 

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About costaricalaw

Hello My name is Giovanna Barrantes. I'm the Managering Director of Barrantes & Associates in San Jose Costa Rica. We are a full service law firm since 1999. Our attorneys are all English spoken with experience in many area's of Costa Rica law. Please be free to contact us with any questions. We also have a office in Panama that can help you with any legal issues as well. Our law firm specializes in the following area's of Costa Rica law Real Estate Closings Title Search Forming Corporations Due Diligence Escrow Property Management Sales Consulting Banking Civil and Commercial Law Writing Contracts Translation of Contracts Labor Law Immigration Residency Citizenship Family Law Matrimony Marital Dissolution Child Support Enforcement *Ask about our Forming a SA Corp/Opening a Bank Account Package Thank you for contacting Barrantes & Associates. We look forward to helping you with all your legal issues in Costa Rica Lic Giovanna Barrantes Barrantes & Associates US/Canada 1-800-979-4174 Office 011 506 2 256 3807 Direct 011 506 8 398 1203 Edificio Casa Canada Paseo Colon Subway Anexo Uno 100 metros sur/50 metros oeste Skype CostaRicaLaw1 http://www.lawyerofcostarica.com http://www.twitter.com/lawyerofcr
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