Gambling business in Georgia is becoming a fast developing sector in this jurisdiction, due to the favourable legislative policies set out by relevant authorities attracting foreign capital/investment to the nation. According to the gambling legislation in Georgia with regards to the organization of online casinos, it is necessary to have a real economic substance of the gambling business.
Furthermore, to properly set up the business - lotteries, casinos and other gambling-related activities, the following steps will be required. They include:
Note that to open either a physical or online casino, a permission/approval must be received from the Ministry of Finance in Georgia.
The applicant is free to choose the term when the licence-permit will be issued. The duration of this term affects the price. Thus:
Subject to the legislative acts of Georgia, the license permit for the establishment, organization and management of gambling business is issued for a period of 5 years. Note that there is no requirement for the founder's place of residence - they can be both from Georgia or from any country of the world.
In addition, the prospective gambling business must submit its application to the relevant tax authority in Georgia and attach:
If an applicant is interested in the establishment of an online gambling game, then it is necessary for him to additionally provide the regulator with the following data:
After receiving permission or approval to conduct games offline, the holder of this permission has the right to apply to the Tax Services of Georgia, requesting for permission to conduct the games online with the provision of all of the above-stated documents.
The following are the payments required by relevant gambling authorities in the Republic of Georgia with regards to gambling, they include:
The recipient of the permit pays a fee for the first year of its activity and subsequently pays annually for the extension of the validity period of the permit. The smallest fee for issuing permits with regards to conducting gambling activities is carried out by entities organizing this particular business in resort areas.
The annual payment for permission to organize a casino:
Benefits of obtaining a gambling license with Law&Trust International in Georgia include: