Corporate Services
Gaming & Gambling License in Cyprus
Obtain a Class A or Class B gaming license from the Cyprus National Betting Authority. Full regulatory support for iGaming and online gambling operators.
4.9(366+ Google Reviews)42+ Years of Experience
Free consultation · No commitment · We respond within 24 hours
Reviewed by Sergios Charalambous, Partner
How It Works
Step 01
Initial Consultation
Discuss your business objectives and recommend the optimal corporate structure for your needs.
Step 02
Document Preparation
Prepare memorandum, articles of association, and all registration documents required by the Registrar.
Step 03
Registration & Compliance
File with the Registrar, obtain certificates, and set up tax registration and corporate bank account.
What's Included
What's Included
- Regulatory feasibility assessment
- National Betting Authority licence application
- Company structuring for gaming operations
- AML compliance framework development
- Technical standards documentation
- Post-licence regulatory compliance support
In-Depth Guide
Gaming and Gambling Regulation in Cyprus
The regulation of betting and gambling activities in Cyprus is governed by the Betting Law of 2019 (Law 37(I)/2019), which established a comprehensive regulatory framework for both land-based and online betting operations. The law created the National Betting Authority (NBA) as the independent regulatory body responsible for licensing, supervising, and enforcing compliance within the betting sector.
The regulatory framework aims to protect consumers, prevent problem gambling, combat money laundering and fraud, and ensure the integrity of sporting events. Cyprus’s approach strikes a balance between fostering a competitive and attractive market for licensed operators while maintaining rigorous standards of player protection and responsible gaming.
Types of Licenses
Class A License-Land-Based Betting
A Class A license authorises the holder to accept bets at physical premises (betting shops) located in Cyprus. Key features include:
- The operator must maintain licensed premises that comply with the NBA’s technical and physical requirements.
- Betting is permitted on sporting events, horse racing, and other events approved by the NBA.
- A maximum of 50 physical betting shops per Class A licensee is currently allowed under the regulations.
- All betting terminals and equipment must be certified and connected to the NBA’s central monitoring system.
Class B License-Online Betting
A Class B license authorises the holder to offer online betting services to customers in Cyprus through digital platforms. Key features include:
- The operator must provide online betting services through a licensed and certified platform.
- Online betting is permitted on sporting events, virtual events, and other categories approved by the NBA.
- The platform must incorporate robust player identification and verification systems.
- All online systems must be certified by accredited testing laboratories and connected to the NBA’s regulatory systems.
Casino Licensing
Casino operations in Cyprus are regulated separately under the Casino Law of 2015 (Law 124(I)/2015), which granted an exclusive integrated casino resort license. The casino regulatory framework is distinct from the betting regulatory framework overseen by the NBA.
Eligibility and Requirements
Corporate Structure
Applicants must be legal entities incorporated in Cyprus or in an EU/EEA member state with a registered branch in Cyprus. The corporate structure must be transparent, and the NBA must be able to identify all direct and indirect shareholders, ultimate beneficial owners (UBOs), and persons with significant influence over the business.
Financial Requirements
Applicants must demonstrate sufficient financial resources to operate a betting business. This includes:
- Minimum share capital as specified in the NBA’s guidelines (varies by license class).
- A bank guarantee or equivalent security to cover player funds and potential liabilities.
- Audited financial statements or, for new entities, a detailed financial plan demonstrating viability.
- Evidence of the source of funds for the initial investment.
Technical Requirements
The betting platform and systems must meet stringent technical standards, including:
- Certification by an accredited independent testing laboratory (e.g., BMM Testlabs, GLI, eCOGRA).
- Secure hosting infrastructure compliant with ISO 27001 or equivalent standards.
- Real-time data connectivity to the NBA’s Central Monitoring System (CMS).
- Geolocation technology to verify that players are located within permitted jurisdictions.
- Random Number Generator (RNG) certification for virtual events.
Fit and Proper Assessment
All directors, senior managers, qualifying shareholders, and key personnel must satisfy the NBA’s fit-and-proper criteria. This involves background checks, criminal record verification, financial integrity assessments, and an evaluation of their professional competence and experience in the gaming industry.
Application Process
- Pre-application phase: Engage with the NBA to understand the specific requirements, prepare the corporate structure, and begin technical preparations.
- Application submission: Submit the formal application form together with all required documentation, including the corporate and ownership structure, business plan, technical specifications, compliance framework, and fit-and-proper documentation.
- Due diligence and review: The NBA conducts a thorough review including background checks on all relevant individuals, evaluation of the technical platform, and assessment of the business plan and financial projections.
- Technical testing: The betting platform undergoes independent testing and certification to ensure compliance with the NBA’s technical standards.
- Decision: The NBA Board makes the licensing decision. Successful applicants receive the license subject to any conditions imposed.
- Go-live: After license issuance, the operator completes final technical integration with the CMS and commences operations.
Responsible Gaming Obligations
Licensed operators must implement comprehensive responsible gaming measures, including:
- Self-exclusion mechanisms: Allow players to voluntarily exclude themselves from betting for defined periods.
- Deposit, loss, and session limits: Provide tools for players to set personal limits on their betting activity.
- Age verification: Verify that all players are over 18 years of age before allowing them to place bets.
- Problem gambling awareness: Display information about responsible gambling and provide links to support organisations.
- Marketing restrictions: Comply with advertising standards that prohibit targeting minors and vulnerable persons.
AML/CFT Compliance
Betting operators are designated as obliged entities under the Prevention and Suppression of Money Laundering Activities Laws. They must implement a full AML/CFT compliance programme including customer due diligence, ongoing monitoring of transactions, suspicious activity reporting to MOKAS (the Cyprus Financial Intelligence Unit), record-keeping, and staff training. A dedicated AML Compliance Officer must be appointed and reported to the NBA.
Taxation of Betting Operators
Licensed betting operators in Cyprus are subject to the standard corporate tax rate of 15% on their profits. Additionally, a betting duty is imposed on the operator’s gross gaming revenue (GGR) at rates specified in the Betting Law. The specific duty rate and its calculation basis are determined by the NBA and the Ministry of Finance.
Frequently Asked Questions
Cyprus offers two main types of betting licenses under the Betting Law of 2019: Class A licenses for land-based (physical premises) betting operations and Class B licenses for online betting operations. Casino operations are regulated separately under the Casino Law of 2015. Each license type has specific requirements regarding corporate structure, capital, technical standards, and compliance frameworks.
The National Betting Authority (NBA) is the independent regulatory body responsible for licensing and supervising betting activities in Cyprus. The NBA was established under the Betting Law of 2019 (Law 37(I)/2019) and has full authority to grant, amend, suspend, or revoke betting licenses. Casino operations are supervised by a separate entity, the Cyprus Casino Commission, under the Casino Law of 2015.
The minimum investment varies by license class and includes the application fees, initial share capital requirements, bank guarantees to protect player funds, and the cost of technical platform certification and integration. While the NBA's specific financial thresholds are set out in its guidelines, applicants should typically budget for several hundred thousand euros in initial setup costs, including technology infrastructure, compliance systems, and working capital.
A Class B license issued by the NBA authorises the holder to offer online betting services to customers located in Cyprus. Serving customers in other EU member states requires compliance with the gambling laws of each target jurisdiction, as gambling regulation is not harmonised at the EU level. Each member state maintains its own licensing regime for online gambling, and operators must obtain separate authorisation in jurisdictions where they wish to offer services.
Licensed operators must implement comprehensive responsible gaming measures including self-exclusion mechanisms, deposit and loss limits, session time limits, mandatory age verification (18+), prominent display of responsible gambling information and helpline contacts, cooling-off periods, and restrictions on advertising to minors and vulnerable persons. Operators must also contribute to a national fund for the prevention and treatment of problem gambling.
The complete licensing process, from initial preparation to license issuance, typically takes between 6 and 12 months. This includes the preparation of the application dossier (2-3 months), NBA review and due diligence (3-4 months), technical platform testing and certification (concurrent, 2-3 months), and final approval and integration (1-2 months). The timeline depends on the completeness of the application and the responsiveness to NBA queries.
Betting operators are classified as obliged entities under Cyprus AML legislation and must implement a comprehensive AML/CFT framework. This includes customer identification and verification (KYC), enhanced due diligence for high-risk customers, ongoing monitoring of betting patterns and financial transactions, suspicious activity reporting to MOKAS, record retention for a minimum of five years, regular staff training, and the appointment of a dedicated AML Compliance Officer who reports directly to the NBA.
The acceptance of cryptocurrency for betting purposes is subject to the NBA's regulations and any specific conditions attached to the license. Operators wishing to accept cryptocurrency deposits must ensure compliance with both the Betting Law and the applicable crypto-asset regulations, including full traceability of transactions and enhanced AML/CFT procedures for crypto-funded accounts. Operators should consult with the NBA regarding the permissibility and conditions for accepting cryptocurrency.
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What Our Clients Say
Trusted by individuals and businesses across the globe.
4.9(366+)Read Google Reviews“Our experience with Angeliki at Polycarpos Philippou & Associates LLC was excellent. She supported us throughout the entire incorporation process of two companies in Cyprus and proved to be an incredibly reliable and knowledgeable point of contact. Whenever we had questions or needed assistance, Angeliki responded quickly and always took the time to guide us through the next steps.”
SRS Pictures LTD
Company incorporation
“I relied on this firm for the incorporation of a company in Cyprus, and I can honestly say the experience exceeded all expectations. From the very first step to the final setup, they were extremely professional, precise, and attentive to every single requirement. A special and sincere thank you goes to Sergios and Evie, who were always available, proactive, and incredibly supportive.”
Gianandrea Gillio
Company incorporation
“We had an outstanding experience working with Angeliki from Polycarpos Philippou & Associates LLC during the incorporation of two of our companies in Cyprus. From the very beginning, Angeliki was extremely professional, responsive, and genuinely committed to helping us through every step of the process.”
Emma Aven LTD
Company incorporation
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