+357 24 656 406

  clients(at)lawyers-cyprus.com

+357 24 656 406
clients(at)lawyers-cyprus.com
Company Formation Cyprus

CHECK COMPANY
NAME AVAILABILITY (Step 1)



Articles

Gambling Activities in Cyprus

Updated on Wednesday 12th September 2018

Rate this article
5 5 1
based on 1 reviews


Gambling_Activities_in_Cyprus.jpgThe Betting Law

 
In 2012 Cyprus introduced a new and comprehensive document that would regulate gambling activities in the country. The Betting Law revised existing rules and added new ones. According to this law, the central authority for gambling and betting matters in Cyprus is the National Betting Authority (NBA). It issues the licenses needed to conduct such activities in Cyprus and supervises authorized gambling operators.
 
According to the Betting Law, there are two main types of authorized gambling activities:
- class A: betting activities and services that take place in license premises, except those in class B and horse race betting;
- class B: online gambling, except from certain benefit games machines, online casino games, electronic horse race betting.
 
Our company formation experts in Cyprus can give you detailed information about these types of activities.
 

Relevant legislation for gambling in Cyprus

 
The following Acts and legislative documents are the most relevant legislative documents that govern any gambling activity in Cyprus: the Betting Law of 2012 – Law 106(I)/2012, Gambling Law 108(I)/17/7/2012, Gambling Law 4374/28/12/2012, Directive 98/34/EC amended by Directive 2006/96/EC, the bilateral agreement between Cyprus and Greece regarding the Greek Organization of Football Prognostics. 
 
Our partner law firm in Cyprus can tell you more about how the law influences and regulates gambling activities in Cyprus.
 

Licenses for gambling activities - presented by our specialists in company formation in Cyprus

 
Licenses for gambling activities are given according to the class of activity, as described above. The request for a gambling licence can be submitted by a company incorporated in Cyprus or a foreign company that has a branch in Cyprus whose principal acidity is carrying out betting activities. The application must be submitted with a bank guarantee of a bank in Cyprus or an EU member state.
 
Companies registered in other EU states that have a betting licence in that state (only limited to betting and no other gambling activities) can provide these services until the NBA issues a licence for this purpose, provided that the company has also applied for a licence with the NBA. The licenses are not transferable or assignable.
 
Gambling licenses in Cyrus are issued for one or two years ant they can be renewed. For more details about the application documents and other details, you can contact our experts in company formation in Cyprus.
 
 

Meet us in Larnaca

Call us now at +357 24 656 406 to set up an appointment with our consultants in Larnaca, Cyprus. Evgenios Erotokritou is the CEO of E.R. Team Global Consultants and he will help you open your company in Cyprus as fast as possible.

Evgenios-Erotokritou-company-formation-expert-in-Cyprus.jpg

We offer:

- cost-efficiency: competitive company formation prices;

- prompt response to your inquiry (maxim 24 hours);

- free and complete legal information featured on our site, at your disposal.

Contact us