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How to get a gaming license in the Philippines?
The Philippines is a rapidly growing gambling jurisdiction attracting both new operators and iGaming companies with a strong track record in the gambling market. The local government has formed PAGCOR (Philippine Amusement and Gaming Corporation) thus confirming its commitment to maintaining a robust and favorable business environment for iGaming companies. If you wish to enter the Asian gambling market and operate legally, you should obtain a Philippine gambling license.
The Asian gambling market is becoming more and more attractive for owners of online casinos, sportsbooks, and poker rooms, as well as organisers of online lotteries and bingo games. Therefore, to gain credibility with local gambling and betting enthusiasts and to bring your iGaming into the legal arena, you should obtain a PAGCOR license. We are here to talk about the benefits of a Philippine gambling license, the difficulties you may encounter when registering on your own, a list of application documents and the advantages of buying a ready-made license from Legasset law firm.
Publish Date
22 August 2024
Reading Time
10 minutes
Category
Legal Guides
Jurisdiction
Philippines
About Pagcor Gambling License
Established in 1976, PAGCOR is a government corporation that licenses and regulates gambling in the Philippines. Covering both the land-based and online gambling market, PAGCOR issues licenses of various types including land-based casinos, online casinos, sportsbooks, online lotteries and other forms. The Philippine regulator’s licenses are recognized by many governments (but are not as commonly used as UKGC or MGA).
What makes PAGCOR attractive is that it licenses not only local operators but also foreign iGaming companies. Currently, 60+ operators from different parts of the world are operating under the license of the Philippine regulator. PAGCOR has recently put a lot of emphasis on combating illegal gambling by inspecting and auditing licensees for compliance with its standards, making it more credible to players.
Why Choose a PAGCOR License in the Philippines?
Recently, more and more iGaming companies have been applying for a license from the regulator in the Philippines, and there are several reasons for this:
- Good geographical location. The Philippines is located in the Asia-Pacific region thereby giving operators access to the fast-growing Asian iGaming markets.
- Recognised by many governments. An offshore gaming license for POGOs is the most attractive option for international gambling companies providing their services outside the jurisdiction.
- Relatively low taxes. With a 5% franchise tax and 25% income tax on profits earned outside the jurisdiction, PAGCOR is still cost-effective for many operators.
- Diversity of licenses. PAGCOR is responsible for issuing online casino licenses, sports betting licenses, regulated sports betting licenses for specific jurisdictions with live streaming as well as bingo licenses.
- Reliable and transparent. With a long history of gambling regulation, the Philippine authority is trusted by operators and punters alike.
- Business support. PAGCOR offers counselling to iGaming companies helping them to meet regulatory requirements and successfully develop their gaming platforms.
If you have additional questions regarding the jurisdiction and Philippine authority, feel free to contact the experts at Legasset. We will provide detailed information about each type of license, fees, regulatory features, taxation and other important things.
Do you need help to get the PAGCOR gaming license?
Advantages of PAGCOR Licenses
By obtaining a gambling license from the Philippine regulator, you will unlock the following benefits for your business:
Legality and risk protection.
To run your iGaming business legally in several Asian countries, you need to obtain a PAGCOR license. This will give you access to a huge audience of solvent players willing to spend their free money on online casino games and sports betting. In addition, a Philippine license minimises the risks associated with running a gambling business by protecting you from potential fines and lawsuits for violating the law.
Fast obtainment.
Usually, it takes about 1-2 months from application to obtaining a license. However, such a short waiting period is possible only if you comply with all the requirements of the regulator. When you turn to Legasset for assistance, you will entrust all the tasks of creating a business plan, collecting documents and other tasks to real experts who have a wealth of experience, with many successful applications for a Philippine license.
Relatively low cost.
PAGCOR has set reasonable prices for its gambling and sports betting licenses, making them affordable even for small companies and start-ups. The cost of a license may depend on the specifics of your business and the services required. By contacting Legasset's experts, you can get detailed information on the cost of each type of license.
Excellent opportunities to expand your business.
The PAGCOR license enables you to grow your iGaming platform by extending the list of services as well as your game collection. In addition, you will be able to capitalise on the strategic position of the Philippines to enter the very promising Asian gambling markets.
Infrastructure for business.
This jurisdiction is renowned for its capable workforce with English-speaking employees, so you won't have a language barrier issue. In addition, the local government is working hard to develop the business infrastructure to fully support the development of your online gambling business.
Buying a Ready-Made PAGCOR License at Legasset
If you are looking for a quick and legal way to bring your iGaming company to the fast-growing Asian market, buying a ready-made Philippine gambling license from Legasset law firm could be your best choice. By reducing bureaucracy and saving your time and labour resources, you will be able to focus on other important aspects of your business.
License Application Package
The first thing you need to do is to prepare your application package, which is one of the most important steps. This is a lengthy and complex process that requires careful collection and verification of all documentation that complies with the regulations and procedures established by the Philippine regulator. By preparing all the documents correctly, you will significantly increase your chances of obtaining a PAGCOR gambling license:
- Company memorandum. This document should contain basic information about your company's activities and its internal structure.
- Articles of association. This document should describe the rules and regulations of your company's management, the rights and obligations of its shareholders and management, and the specifics of key decision-making processes.
- Shareholder IDs. These identification documents are required to verify the legal status of its shareholders.
- Verification receipt. With this document, you will be able to confirm that the other documents you provide have been checked for compliance with the regulator's requirements.
- Authorisation from the municipality. If you plan to operate in another country, you will need authorisation from the local authorities to operate your business in the location you have specified.
- Certificate from bank. This is required to confirm that you have the necessary capital and that your company is financially stable enough to pay out winnings to players.
- Application from the treasury. This document must be submitted to confirm that your company complies with all financial and tax obligations imposed on it under applicable laws.
- Receipt of payment of the state duty. By submitting this document, you confirm that you have fulfilled your financial obligations to the state for applying for a license.
- Details of your employees. You need to provide the names, titles, contact details and qualifications of your employees.
Step-by-Step Guide to Obtaining a Philippine Regulator's License
If you decide to apply for a license yourself, you will need to go through the following steps:
You must prepare your incorporation documents, financial information about your company, receipts and certificates, and details of your shareholders and employees. Fill out all the necessary forms and submit them along with the documents outlined above.
PAGCOR staff will review all the documents you submit and conduct a financial audit of your company. Remember that you must have a certain capital as required by the Philippine regulator. By contacting Legasset’s experts, you will receive detailed guidance on the start-up capital and all possible costs of obtaining a license.
The regulator may initiate an in-office audit and additional financial checks to confirm the accuracy of the data you have provided. At this stage, you will need to bring your business into full compliance with PAGCOR and local legislation such as the Interactive Gambling Act 2003 and Casino Rules and Regulations.
The application process can take up to 13-18 weeks. If successful, you will be granted a license to legally conduct your iGaming activity in the designated jurisdictions. Keep in mind that you will need to implement and maintain a system of information security and protection of sensitive user data. In addition, you must adhere to all regulatory requirements for the entire duration of the license.
Problems Businesses Face When Applying for a PAGCOR License
Obtaining a Philippine license can be challenging as the regulator closely monitors its licenses. Here are some of the issues that any applicant may face:
Complex requirements regarding the application package.
From your financial statements and business plan to your employee records, you need to gather a lot of documents and information, which can be a daunting task.
Strict background checks.
The regulator scrutinises the applicant for financial stability, criminal records, and business reputation.
Compliance audits.
PAGCOR may perform on-site inspections and financial audits to ensure compliance with regulations.
AML compliance requirements.
Applicants must meet strict anti-money laundering criteria.
Possible delays.
If you submit an incomplete application or make even minor errors, you risk losing a lot of time.
Why should I get a Philippine License from Legasset?
Doing it all yourself will likely take a lot of time and effort to meet all the regulatory requirements. Instead, you can entrust all the tasks to the experts at Legasset law firm to reduce the financial and time costs. Below, we have outlined the advantages of buying a ready-made license:
- Time saving. Instead of dealing with collecting documents and other bureaucratic processes, you can entrust all the tasks to the experts from Legasset to launch your iGaming platform faster and start operating legally.
- Professional support. Having extensive knowledge and experience in the licensing of gambling business, the experts of the law firm will help you to avoid any mistakes and errors at any step of registration of your company.
- Financial predictability and risk minimisation. Legasset experts will give you a clear picture of the cost of all stages of obtaining a license so you can plan your budget in advance. In addition, experienced lawyers will check all documents in advance to minimise inconsistencies.
