Offshore licences: Curaçao and Belize

Use of offshore licenses (Curaçao, Belize) - context for Nicaragua

Short conclusion (on 09. 10. 2025)

Curaçao: there is a reform - adopted by LOK (National Ordinance on Games of Chance), created by Curaçao Gaming Authority (successor to GCB); sub-licenses are canceled, an online portal for B2C/B2B applications is in effect. Old licenses switch to the new mode on time.

Belize: The state officially declares a moratorium on the issuance of online licenses and warns of the illegality of applications "about the presence of a Belizean online license." Hence the extremely limited applicability of Belize as a "praport" for iGaming.

Nicaragua: there is no local B2C online license for private operators; players use international sites, and control is shifted to AML/payments. Therefore, operators aimed at the audience of Nicaragua have historically chosen offshore jurisdictions, primarily Curacao. (Overall Market Profile by Industry Overview 2024-2025)

Why offshore licenses in conjunction with Nicaragua

Access to the market: in the absence of a local online license from private owners, an offshore "passport" allows you to legally conduct B2C activities outside Nicaragua, observing the norms of the licensing country.

Payment infrastructure: Many payment/acquiring providers require a valid license (or equivalent regulatory status) to work with iGaming.

Compliance and reputation: a license with clear rules (KYC/AML, RG, audit) increases the confidence of partners and banks.

Curaçao: New Regulatory Architecture

• Adopted by LOK: it translates online games into a new law, and GCB turns into the Curaçao Gaming Authority (CGA), a more independent regulator for online.
• End of sub-licenses: the former "master + sub" model leaves; now - two direct categories: B2C (operators) and B2B (suppliers).
• Application Portal: All submissions are through the official License Management Portal CGA/GCB. Applications are not accepted outside the portal.
• Transition period: permits previously issued under the old law were processed in transition mode, the portal was restarted for new submissions (summer 2024) - some applicants are migrating to LOK.

• You will need your own license (you cannot share an "umbrella"), enhanced KYC/AML, audit and responsible play by new standards.
• Transparent ownership structure, local presence/contact and reporting to the regulator. (In total, there is an increase in requirements, but also a higher validity in the eyes of counterparties.)

Belize: Why the "offshore flag" no longer works as before

• The Belizean government has publicly announced that there is a moratorium on online licenses, and claims of "Belize online license" are recognized as misinformation/illegal activity.

• For new B2C projects, Belize is not an available online licensing jurisdiction.
• Even with the historical issuance of single permits, public sources in 2025 indicate an extremely limited volume of valid licenses and the focus of regulators on AML/transparency of beneficiaries.

How it affects Nicaragua players

Curacao operators in 2025 are the main "offshore" segment, which is faced with increasing requirements for verification, responsible play and reporting. This increases the predictability of payments and procedures (compared to the era of sub-licenses).

"Belizean" statements should be checked especially carefully: with the current moratorium, the likelihood of encountering a fake reference to the "Belize license" is noticeably higher. Target the primary sources of the government/Belize Gambling Board.

KYC/AML, payments and disputes

KYC/AML: Curacao's license has increased requirements for identification, transaction monitoring, reporting and RG - operators must verify age and identity, assess risks and store data.

Payments: speed and methods depend on the specific operator/its payment partners; having a license and working in an updated mode often correlates with a more predictable SLA. (Market Guides 2025.)

Dispute Resolution: In the offshore model, claims are resolved under the law of license jurisdiction (not Nicaraguan law). Check the ADR/complaint procedures on the regulator or operator's website.

Checklist for Operator (Nicaragua Facing)

1. Jurisdiction: For 2025, the practical choice is Curaçao (LOK, CGA). Belize - under a moratorium; it is impossible to count on the "quick license of Belize."

2. License = own: no "sharing "/sub-licenses. Submission - only through the CGA portal, with the full KYC/AML package and a description of the technical platform.

3. Payments: build in advance compliance with the requirements of banks/providers (source of funds, sanctions lists, limits).

4. Marketing in Nicaragua: observe 18 +, responsible play and neat communication of offers; keep transparent T & Cs, payout SLAs, bonus policies.

Checklist for Nicaragua player

Check the site footer: indication of the legal entity and the license number of Curacao, link to the regulator/portal.

Caution with the "license of Belize": under the current moratorium, such statements require double verification in the official sources of Belize.

Read Banking/Payments: limits, deadlines, commissions, bans for bonuses for certain methods.

Keep documents: screenshots of transactions, support correspondence, copies of KYC - this speeds up the resolution of disputes.

For markets like Nicaragua, where there is no local online license for private traders, the practical "offshore" flag today is Curacao with its updated LOK/CGA model, centralized portal and increased compliance standards. Belize has publicly declared a moratorium and is not a real option for new online licenses, so references to the "Belizean license" should be interpreted critically. For players, this means: check jurisdiction and payment terms; for operators - invest in full KYC/AML and transparent customer policy.

Relevant for October 09, 2025.