Online gaming

In recent years we have gained a strong expertise in serving the online gaming industry. With constant and very fast changes in the global operating environment for online gaming businesses, it is now more important than ever to keep up-to-date with the latest developments and to be able to adapt in the minimum of time, if competitive advantage is to be maintained.

There are a number of issues of vital importance, which need to be carefully considered at the outset when embarking on an online gaming operation and which need to be constantly evaluated once the gaming site becomes operational. Decisions will have to be made with respect to the choice of software and where to locate the server. The latter could have licensing and/or taxation implications, as could the choice of location for the support centre.

It is usual for online gaming operations to be carried out through corporate entities, rather than in the personal capacity of their promoters. The use of a company in such ventures can result in the minimisation of business risk, the safeguarding of the personal information of the promoters and, usually, the minimisation of tax liabilities. It is crucial, however, that the company be located in an appropriate jurisdiction, if these benefits are to be assured.

An increasing number of jurisdictions are now available for obtaining online gaming licenses, which vary tremendously in their requirements and charges. Despite the often substantial fees for obtaining and maintaining such licenses, a licensed operation will be better perceived by its users and will enjoy a preferred status with financial institutions with which it transacts business, such as credit card processors and banks.

If you are considering the establishment of an online gaming operation or perhaps already have one and are seeking alternative arrangements with respect to your corporate entity, bank accounts or payment processing facilities, please feel free to contact us for further advice.

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