online/offline casino

[abk]

Dear sirs,
We are going to move our assets to DR and will be interesting in following things:
1. How difficult it will be to obtain DR license for online/offline casino and sportsbooking?
2. How much $ we need to spend in order to obtain license for online and offline gambling? (we will run online casino first)
3. How much time/$ will be involved into forming of DR corporation?
4. Does we need to have DR residents as shareholders? (currently, all shareholders are russians, and this is privately held company)
5. Is that difficult to obtain DR bank account for this company in secure bank with online banking possibility?
6. Which taxes will be paid in case of such business activity?

[ricktoronto]

If you can afford to invest in a casino venture, perhaps hiring Mr. Guzman and paying him for in depth legal advice would be a fair way to assist your investigations. Six specific questions regarding a casino is stretching how accomodating he should have to be don't you think?

[Chris]

The questions can possibly be answered in a general way but are there possibly specialized regulations for casinos? I would go with ricktoronto's suggestion and contact reputable lawyers for answers to these questions.

[abk]

Originally Posted by ricktoronto

If you can afford to invest in a casino venture, perhaps hiring Mr. Guzman and paying him for in depth legal advice would be a fair way to assist your investigations. Six specific questions regarding a casino is stretching how accomodating he should have to be don't you think?

We are not rejecting to pay for Mr.Guzman or any other licensed attorney services if we going to serve this business in DR, but we are currently investigating licensing information in 6 different countries. We no need to have deep legal advice, but just basic answers on basic questions.
In case we need to have deep legal advice, we will hire licensed attorney to do that.
This is our private business, where we plan to invest some not very small cash and no care about opinions of someone, who are just going just to flame here.
I think, that before we will going to sign contract and start paying for anything, we need to know, if this worth our investments and how it will be profitable for us.
Also, I don't think, that this is a very consuming process to tell how much gambling license cost and which tax rates applicable for online/offline casinos.
Even, if no one will answer our questions here, I believe, that this will be not very difficult to get answers on this questions somewhere else.
Cheers

[Robert]

Dear sirs,
We are going to move our assets to DR and will be interesting in following things:
1. How difficult it will be to obtain DR license for online/offline casino and sportsbooking?

Grey area, you will need to talk directly with a lawyer about this.

2. How much $ we need to spend in order to obtain license for online and offline gambling? (we will run online casino first)

As above.

3. How much time/$ will be involved into forming of DR corporation?

The RNC (tax id) takes time to get. I guess for around US$500-1,000 you can set up a company. It's not hard and the process isn't that time consuming. Once again, any decent lawyer can help you with this. Also take a look at 100's of posts on this board covering corps etc.

4. Does we need to have DR residents as shareholders? (currently, all shareholders are russians, and this is privately held company)

You need at least seven shareholders. I'm sure at least one needs to be a resident.

5. Is that difficult to obtain DR bank account for this company in secure bank with online banking possibility?

Lot's of banks have online access, so thats not a problem.
Opening a business account is a little more tricky if you want to be 100% legal. Documentation, statements etc etc etc.

6. Which taxes will be paid in case of such business activity

Corp tax, 25%.

I strongly suggest you contact a lawyer or spend some time researching this site and message board as most of your questions have already come up before and have been answered in detail.

[gringo in dr]

Originally Posted by abk

Dear sirs,
We are going to move our assets to DR and will be interesting in following things:
1. How difficult it will be to obtain DR license for online/offline casino and sportsbooking?
2. How much $ we need to spend in order to obtain license for online and offline gambling? (we will run online casino first)
3. How much time/$ will be involved into forming of DR corporation?
4. Does we need to have DR residents as shareholders? (currently, all shareholders are russians, and this is privately held company)
5. Is that difficult to obtain DR bank account for this company in secure bank with online banking possibility?
6. Which taxes will be paid in case of such business activity?

It is completely illegal here. The US government has cleaned out such operations here in the past. The local government will not tolerate it at all as they do not like being leaned on by the US.

[abk]

Originally Posted by gringo in dr

It is completely illegal here. The US government has cleaned out such operations here in the past. The local government will not tolerate it at all as they do not like being leaned on by the US.

LOL, you wish to tell, that gambling is illegal in DR??
Or here is no casinos and they are illegal?
I know at least 4 online casinos with DR license

[ALGS]

Of course gambling is legal in DR. As to online gambling, it doesn't look illegal to me:

http://online.casinocity.com/jurisdi...?start=1&id=49

[gringo in dr]

Originally Posted by abk

LOL, you wish to tell, that gambling is illegal in DR??
Or here is no casinos and they are illegal?
I know at least 4 online casinos with DR license

The DR does not allow online casinos. There are no licenses to do so. The US government has raided online casinos here in the past and the government does not want the heat.

[gringo in dr]

Originally Posted by ALGS

Of course gambling is legal in DR. As to online gambling, it doesn't look illegal to me:

http://online.casinocity.com/jurisdi...?start=1&id=49

This is your proof:

"The Dominican Republic is said to be licensing online sportsbook sites, but this information could not be confirmed."


I know from friends in the DR government that it is ILLEGAL.