Gambling revenues are measured in millions of dollars making gambling business attractive for investors, as investments pay back quickly and one can open more gambling houses with time. However, not every country allows gambling. Therefore, if you opt to launch a network of betting clubs or online casinos, you should primarily study the laws and receive a corresponding license from the country.
This article tells how to obtain a gambling license in Serbia and reveals peculiarities and advantages of gambling conduct in this country.
2012, Serbia received associate membership in the European Union. To meet the requirements of the EU, the country started bringing the gambling business out of the shadow economy. Serbia passed a corresponding law, but it continues to fight against illegal casinos actively. Raids and roundups against illegal organizations are frequent in the country.
To bring gambling out of the shadow economy, Serbia obliged all gambling houses to obtain licenses from the Ministry of finance and economy. At the same time, very favorable conditions for running gambling activities were created. All types of gambling starting from land-based casinos, slot machines to betting houses, and online gambling are allowed here.
Legalization of gambling allows ensuring tax returns and tracking payments made between organizations and players. It gives a possibility to block accounts of operators that stay beyond the law. The latter include online casinos registered in offshore jurisdictions or working without a permit.
Therefore, to run a gambling business in Serbia, you should own a Serbian license only. Otherwise, the website will be blocked, payments frozen, and the casino blacklisted.
How to obtain a gambling license in Serbia
Like in any other country where gambling is allowed, you have to fulfil definite requirements and conditions to get a permit for running a gambling business.
- According to the Serbian legislation, the company that offers and organizes casino games must be registered on the territory of the country only.
- If you opt to open an online casino, factor in that all servers must be located in Serbia. Also, the company must make sure that all data on transactions, winnings, and players is stored for 5 years.
- The next step is to open an account in one of the Serbian banks. That is required in order to deposit €150 thousand as a bank guarantee and have a risk-based amount of €10 thousand on your account.
- Afterwards the operator receives a 10-year’s renewable license from the Ministry of finance and economy.
One of the advantages of running a gambling business in Serbia is a very low gambling income tax – just 5%. However, it cannot be lower than €7.5 thousand. In addition, there is a monthly fee of €2.5 thousand for running gambling activities.
Currently, the gambling industry has just started to develop in Serbia, but due to low tax rates, it actively attracts foreign investors. The country allows all types and forms of gambling and contrary to the Russian legislation does not have special requirements to gambling premises or location.
The previous article told how to obtain a gambling license in Russia, revealed the requirements and types of licenses.