online/offline casino

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If you can afford to invest in a casino venture, perhaps hiring Mr. Guzman and paying him for in depth legal advice would be a fair way to assist your investigations. Six specific questions regarding a casino is stretching how accomodating he should have to be don't you think?

The questions can possibly be answered in a general way but are there possibly specialized regulations for casinos? I would go with ricktoronto's suggestion and contact reputable lawyers for answers to these questions.

Dear sirs,
We are going to move our assets to DR and will be interesting in following things:
1. How difficult it will be to obtain DR license for online/offline casino and sportsbooking?

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Grey area, you will need to talk directly with a lawyer about this.

2. How much $ we need to spend in order to obtain license for online and offline gambling? (we will run online casino first)

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As above.

3. How much time/$ will be involved into forming of DR corporation?

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The RNC (tax id) takes time to get. I guess for around US$500-1,000 you can set up a company. It's not hard and the process isn't that time consuming. Once again, any decent lawyer can help you with this. Also take a look at 100's of posts on this board covering corps etc.

4. Does we need to have DR residents as shareholders? (currently, all shareholders are russians, and this is privately held company)

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You need at least seven shareholders. I'm sure at least one needs to be a resident.

5. Is that difficult to obtain DR bank account for this company in secure bank with online banking possibility?

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Lot's of banks have online access, so thats not a problem.
Opening a business account is a little more tricky if you want to be 100% legal. Documentation, statements etc etc etc.

6. Which taxes will be paid in case of such business activity

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Corp tax, 25%.

I strongly suggest you contact a lawyer or spend some time researching this site and message board as most of your questions have already come up before and have been answered in detail.

abk said:

Dear sirs,
We are going to move our assets to DR and will be interesting in following things:
1. How difficult it will be to obtain DR license for online/offline casino and sportsbooking?
2. How much $ we need to spend in order to obtain license for online and offline gambling? (we will run online casino first)
3. How much time/$ will be involved into forming of DR corporation?
4. Does we need to have DR residents as shareholders? (currently, all shareholders are russians, and this is privately held company)
5. Is that difficult to obtain DR bank account for this company in secure bank with online banking possibility?
6. Which taxes will be paid in case of such business activity?

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It is completely illegal here. The US government has cleaned out such operations here in the past. The local government will not tolerate it at all as they do not like being leaned on by the US.

Of course gambling is legal in DR. As to online gambling, it doesn't look illegal to me:

http://online.casinocity.com/jurisdictions/jurisdiction.cfm?start=1&id=49

abk said:

LOL, you wish to tell, that gambling is illegal in DR??
Or here is no casinos and they are illegal? :squareeye
I know at least 4 online casinos with DR license :classic:

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The DR does not allow online casinos. There are no licenses to do so. The US government has raided online casinos here in the past and the government does not want the heat.

ALGS said:

Of course gambling is legal in DR. As to online gambling, it doesn't look illegal to me:

http://online.casinocity.com/jurisdictions/jurisdiction.cfm?start=1&id=49

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This is your proof:

"The Dominican Republic is said to be licensing online sportsbook sites, but this information could not be confirmed."


I know from friends in the DR government that it is ILLEGAL.

If you do a little research, you will see that the domains list an address in Curacao. Despite claiming to be licensed in the DR. Run a trace and you will find out that the servers are actually running out of Canada.

I?m still a practicing attorney with a very heavy workload despite the protestations of my wife who constantly reminds me that I?ve done enough and should take it easy at 55. I dedicate an hour or two a week to answering questions on this forum, usually on weekends. It is not to be expected that I answer every question posted, or even that I know the right answers, but I do give it a try.

1. How difficult it will be to obtain DR license for online/offline casino and sports booking?

For offline casino and sports booking, it is not that difficult if the legal requirements are met. Offline, real casinos should be located by law in or next to first-class hotels. For online casinos, I don?t know. The obvious place to enquire would be the Ministry of Finance.

2. How much $ we need to spend in order to obtain license for online and offline gambling? (We will run online casino first).

Too many unknowns here to give an answer.

3. How much time/$ will be involved into forming of DR corporation?

A shelf corporation can be ready in days. A corporation formed from scratch could take a couple of months or more because of the RNC bottleneck. Since there are special capitalization requirements for corporations in the gambling business, the cost will depend on the authorized capital of the corporation.

4. Does we need to have DR residents as shareholders? (currently, all shareholders are russians, and this is privately held company).

You can have a DR company without being a resident. However, corporations in the gambling business may have special requirements in this regard.

5. Is that difficult to obtain DR bank account for this company in secure bank with online banking possibility? See Robert?s answer above.

6. Which taxes will be paid in case of such business activity?

In addition to the 25% flat rate on corporate net income, there are various other special taxes, depending whether it?s sports betting (?Bancas de Apuestas?) or casinos. Again, specific information may be obtained at the Ministry of Finance.

Fabio, I can tell you for a fact that online casinos are illegal here. Online casinos have been raided in the past by Feds from the US. I believe it happened in 1991 and in 1997.

Not to state the obvious but....

wouldn't you be better off just following Las Vegas and others that have set up in Curasao or ven Costa Rica ( which I understand is used up). The big houses in the States as well as high volumn independents are set up in Curacao. Wagering on horse racing seems to be handled almost exclusively in Costa Rica. Good luck. And don't try to invent the wheel.

Dr Casino

gringo in dr said:

It is completely illegal here. The US government has cleaned out such operations here in the past. The local government will not tolerate it at all as they do not like being leaned on by the US.

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It is extremely difficult and costly to obtain such licenses. They are difficult to obtain and costly in terms of attorney fees. However, gaming ventures in the DR are lucrative because of tourism. If you know anyone who has a license buy it.

drdream said:

It is extremely difficult and costly to obtain such licenses. They are difficult to obtain and costly in terms of attorney fees. However, gaming ventures in the DR are lucrative because of tourism. If you know anyone who has a license buy it.

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The question posted is about online casinos, not land based ones. Of course land based tourist casinos are doing well here.