Macau Gaming license_Guideline
Macau Gaming license
The legal framework governing Macau’s gaming industry is the following (by sector and in chronological order):
- Lotteries and Pari-mutuels
- Ordinance no. 27/86/M, dated 1 February 1986 and Law no. 12/87/M, dated 17 August 1987 (Instant Lottery).
- Concession Contract with Sociedade de Lotarias Wing Hing Limitada, dated 24 August 1990 and extended to 31 December 2017 (Chinese Lotteries).
- Ordinance no. 163/90/M, dated 27 August 1990 (Horse Racing).
- Ordinance no. 138/98/M, dated 5 June 1998 (Sports Lottery – Football).
- Chief Executive Order no. 62/2000, dated 27 April 2000 (Sports Lottery – Basketball).
- Games of Chance and Fortune
- Decree-Law no. 47/98/M, dated 26 October 1998 (Administrative Licensing Legal Framework).
- Decree-Law no. 39/99/M, dated 3 August 1999 (article 1171 Macau Civil Code).
- Decree-Law no. 40/99, dated 3 August 1999 (Commercial Code: gaming companies and commercial contracts).
- Law no. 16/2001, dated 19 September 2001 (“Macau Gaming Law”: setting the general framework for the operation of games of fortune in casinos).
- Administrative Regulation no. 26/2001, dated 29 October 2001 (sets the general terms of the public tender required to select the concessions to operate games of fortune in casinos, as well as the suitability and financial capacity requirements of bidders and concessionaires).
- Administrative Regulation no. 6/2002, dated 20 March 2002 (sets the rules and requirements for the licensing of gaming promoters’ operations), amended by Administrative Regulation no. 27/2009, dated 10 August 2009 (regarding the payment of commissions or other remunerations to be paid by gaming concessionaires to gaming promoters).
- Administrative Regulation no. 34/2003, dated 18 September 2003 (setting up of the DICJ).
- Law no. 5/2004, dated 14 June 2004 (Gaming Credit Law).
- Law no. 10/2012, dated 27 August 2012 (establishes the terms to enter, work and gamble in casinos).
- Administrative Regulation no. 26/2012, dated 26 November 2012 (sets the rules applicable to the supply of gaming machines and related gaming equipment).
The Gaming Inspection and Coordination Bereau (“DICJ”) regulates and supervises the gaming licenses in Macau.
The following are categories of gaming activities permitted in Macau:
- Casino gaming (including slots and casino table games such as roulette & blackjack)
- Sports/horse race betting (if regulated separately to other forms of betting)
- Fantasy betting (payment to back a ‘league’ or ‘portfolio’ selection over a period of time, for example in relation to sport or shares)
- “Social” gaming with no prize in money or money’s worth
- Skill games and competitions with no element of chance
|Entity Requirements||The entity making the application is a Macau public limited company by shares (S.A. companies)|
|Shareholder requirements||The investment fund licensee will need at least two shareholders.|
|Local Office||A local office is required to be put in place in Macau.|
|Auditor||The licensee is required to comply with all legal requirements in relation to accounting and auditing in accordance with the Law.|
|Minimum Capital Requirements||The Applicant must have the prescribed minimum paid-up capital of MOP200 million.|
- The licensees are subject to daily supervision by the DICJ.
- Licensees shall, in a timely manner, pay the annual premium (due as consideration for the grant of a casino gaming concession), the special gaming tax (levied on the gross gaming revenue), the contributions (for a public foundation and for urban development, touristic promotion and social security of the Macao SAR) and all other legal taxes
- The licensees shall strictly comply with all legal requirements in relation to accounting and auditing in accordance with the Law.
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
- Tel: +248 4321018
- WhatsApp: +248 2525217
- Skype: vf-international.com
- Email: [email protected]