How to Get a Gambling Business License in Georgia
Gambling business is legal in Georgia and regulated by the local legislation. Entrepreneurs that want to open a casino, a betting company or some other gambling facility have to acquire a corresponding permit.
Who issues permits for gambling activity and how much do they cost? How to obtain this document? Read about all of it further in the article.
According to the Georgian legislation, the gambling business is legal in the country only when the appropriate permit is available.
Types and terms of permits:
- setting up a casino – for 5 years;
- gambling club – 5 years;
- slot machines parlor – 5 years;
- totalizers – 5 years;
- lotto – 5 years;
- bingo – 5 years;
- incentivedraw– 1 year.
Entrepreneurs that have permits for launching a casino and/or a slot machines parlor in Tbilisi have a possibility to get a permit for arranging a gambling club. This license is valid for the same time as the main permits.
By becoming a holder of the permit for land-based gambling conduct, the entrepreneur gets a possibility to organize Internet gambling legally. One can organize online lotteries, incentive draws, casinos, totalizers.
According to the law, only the entrepreneurs that have permits for setting up a casino and/or a slot machine parlor can organize online gambling. Only those individuals that have permits for land-based totalizers can open online totalizers.
Permit holders have to adhere to conditions specified in the document. If the company owner violates them, the Revenue Service or the Ministry of Internal Affairs of Georgia can impose a fine of 1,000 to 20,000 lari. In the case an authorized individual organizes a lottery, the fine will equal to 50,000 – 150,000 lari.
Who issues a permit and how much does it cost?
In Georgia, the Revenue Service issues the permits that allow the gambling activity. This organization also monitors how the permit holder fulfills the conditions specified in the document. It runs audits for this purpose. Besides, this governmental body is authorized to terminate the permit for corresponding reasons.
The cost of the permit depends on the time within the document is issued. The entrepreneur chooses for himself the speed of license acquisition.
If the company owner is ready to wait for around 20 days, the document is issued free of charge. License acquisition within 10 days costs 400 lari ($138), 5 days – 800 lari ($275), 1 day – 2,000 lari ($689).
What is required to get a license?
Documents needed for license acquisition are filed to the Revenue Service. The list of them depends on the activity type that the businessman wants to conduct.
Here are the basic documents:
- written application for license acquisition;
- for the legal entity and individual entrepreneur – excerpts from the state registry, for the private entity – copies of documents that confirm identity;
- license fee receipt;
- company statute. Depending on the type of gambling activity, the entrepreneur has to specify the following information: the term and venue of gambling conduct, the list of slot machines and/or tables, the list of games, their rules and description, rules of facility operations, minimum and maximum bet amount, terms and venue of paying out the winnings, period of time required to review complaints of customers, etc.;
- for those who want to organize winning games – an agreement between the applicant for the permit and the company that produces tickets;
- samples of chips and/or tickets, etc.
In the case of online gambling, the operator has to specify the following information in the documents:
- the address, from where winning games will be managed;
- the web page address of the gambling resource;
- rules of player registration and deposit management;
- list of games with the description of every product;
- venue and terms of paying out the winnings;
- the time period within which complaints will be reviewed, etc.
Entrepreneurs willing to open a gambling company on the territory of Georgia should take the license acquisition process seriously. Only when the permit is available, they will be able to operate legally.