Betting and Gaming

Our Firm provides services for the licensing of betting and gambling operators in Cyprus. The Cyprus “The Betting Law 2012 – Law 106(I)/2012” introduced a partial legislative framework for legislating betting activities, introducing new rules and updating some others. The National Betting Authority (NBA), which is the governing body all betting and gambling activities provides for two types of licensing:

1. Class A – Regulates land based sports betting – bookmaker shops with physical Premises excluding Class B Services and horse racing.
2. Class B – Regulates Online based activities excluding slot machines, online casinos lotteries.

Services

• Cyprus Company Formation
• Bank Account opening
• Application for the issuance of Class B Recipient License
• Drafting and Submission of Personal Declaration Form
• Drafting and Submission of Bank Guarantee
• Drafting and Submission of Business Plan
• Server Hosting-Leasing
• Server Colocation
• Preparation of technical documentations
• Managed Datacenter Services
• Supervision of NBA Technical Audit
• Advice on setting up accounting replication with the Cyprus authorities

Merchant accounts are online payment gateways to the client’s business bank account. The online collection services of international merchant account providers are utilised to receive the client’s money, paid for goods or services the client provide them, and channel it to the client’s bank accounts, after of course they deduct their agreed commission or other charges or fees.

Merchant accounts are commonly needed by all businesses with online sales of goods, products and services through their website, giving their customers or their clients the opportunity of simple, fast and practical payment by accessing their debit or credit cards or by a bank wire or even an e-check.

Our team of experts can assist your particular needs and guide you step by step from the time the merchant account is being set up to its integration into your company and your Bank Account.

To be eligible to apply for a junket operator licence you must either have a proposed and unexecuted junket services agreement or an executed junket services agreement with the ICR operator (this agreement is subject to obtaining a junket operator licence from the Cyprus Gaming and Casino Supervision Commission) with the Republic of Cyprus Integrated Casino Resort (ICR) operator.

Individuals applying for a junket operator license should:

• be able to demonstrate that they can meet the Commission’s suitability assessment
• ensure that the activities they plan to carry out will be conducted in a manner which minimises the risks to the licensing objectives
• work with the Commission in an open and cooperative way, and
• disclose to the Commission anything which the Commission would reasonably expect to know.

Our team consists of highly qualified, experienced and knowledgeable professionals in the field of casino operations and will guide you step by step for obtaining the license.