Cape Verde Gaming License
The Law no. 77/VI/2005 of 16th August, provides the gambling legal framework, and the Decree no. 1/2017, of 9th January, establishes the basic rules on the various gambling games.
Regulated by the Cabo Verde General Gaming Inspectorate.
The entity making the application is a Cape Verde company under the Commercial Code, Law No. 3284.
|Director’s Requirements||The licensee requires a minimum of three (3) director. Director can be of any nationality and need not be resident in Costa Rica. Corporate directors are permitted.|
|Compliance Officer||The Licensee must establish and maintain an appropriate and effective compliance function within the firm which operates independently of all operational and business line functions and senior or supervisory management.|
The Applicant must employ at least one individual who is licensed as a principal.
The Principle must:
The Applicant must employ at least one individual who is licensed as a representative.
The representative must:
|Local Office||The applicant must have a local office. The premises should be able to facilitate confidential interaction between the applicant and its clients, and provide for safe and confidential storage of documents.|
|Auditor||The Licensee, to establish an internal Audit department.|
|Insurance||Indemnity insurance coverage or a fidelity bond is mandatory.|
|Minimum Capital Requirements||
The Applicant must have the prescribed minimum paid-up capital and is able to meet the prescribed minimum net liquid capital requirement in cash or readily marketable securities.
The prescribed minimum paid-up capital of USD 100
- Licences are to be renewed every 3 (three) Months.
- It is not a requirement to File Audited Accounts. But filing of Annual returns is a requirement.
- The Licensee must maintain appropriate policies of insurance for the purpose of indemnifying such licensee against any liability that may be incurred as a result of any act or omission by the licensee or any of its officers or employees in the conduct of the licensee’s securities business.
About Valsen Fiduciaries
Valsen Fiduciaries is a licensed independent global service provider of a broad range of fiduciary, administrative, legal, corporate secretarial and support services.
- Company formations and Administration
- Assistance with Bank Account opening
- Collective Investment Setup and Administration
- Intellectual Property Registrations and Maintenance.
- Trusts and Foundations setup and administration
- Online Payment Gateway Solutions
- Banking Licenses and PSP, E-Money, E- Wallet Licenses
- Yacht and aircraft registrations.
- Cryptocurrency Solutions (ICO, STO, Crypto Exchanges etc)
The Valsen Advantage
- We will advise you on the optimal legal structure for your requirements, size, expectations and circumstances. We have extensive knowledge of a wide range of securities dealer licenses in all major jurisdictions.
- Valsen will assist to complete every form for each process in the best way we know how (Based on our many years’ experience with various regulators and service providers across the world)
- We are very hands on in the post filing period checking with re regulator and service providers and updating you regularly. Any queries raised by the regulators and service providers during processing will be quickly synthesized by us and we shall craft the right responses to move the process forward fast.
- We have a full in-house compliance support for all compliance requirements with the regulator and service providers
Our Contact Details
OR Contact us on:
- Tel: +248 4321018
- WhatsApp: +248 2525217
- Skype: vf-international.com
- Email: [email protected]