Curaçao responds to criticism, amends gambling legislation

Jenny Ortiz April 30, 2024

SiGMA news

Curaçao responds to criticism, amends gambling legislation

Curaçao‘s Minister of Justice, Javier Silvania, has addressed concerns voiced by the Curaçao Bar Association regarding the National Ordinance on Gambling (LOK). Following objections to certain provisions within the draft legislation, particularly concerning accreditation requirements for lawyers, Silvania announced amendments to the law.

In a social media post, Silvania acknowledged the Bar Association’s concerns and revealed plans to revise the accreditation requirements outlined in the LOK. Notably, the jurisdiction will shift from a mandatory accreditation process to a non-mandatory certificate system, significantly reducing regulatory burdens for legal practitioners.

Revised accreditation process

Under the amended law, the Curaçao Gaming Authority will issue certificates to lawyers providing gambling-related services or goods to Curaçao licence holders. These certificates, valid for up to three years, will replace the initial accreditation requirements outlined in the draft legislation. Silvania emphasized that participation in the certification process would be optional, granting flexibility to lawyers engaged in gambling-related activities.

Ensuring financial independence of Curaçao Gaming Authority

Silvania also highlighted another significant amendment aimed at ensuring the financial independence of the Curaçao Gaming Authority. Addressing concerns regarding the regulator’s autonomy, revisions have been made to guarantee its fiscal independence, enhancing transparency and accountability within the regulatory framework.

Forward steps for Curaçao

In addition to addressing the Bar Association’s concerns, Silvania responded to criticisms from members of Parliament regarding the LOK. He emphasized that despite some MPs’ limited review of the legislation, the amended law represents a significant milestone in the region’s efforts to reform its offshore gambling industry.

Alignment with structural reforms

Silvania underscored that the legislative revisions align with Curaçao‘s commitment to collaborate with the Dutch government’s Temporary Work Organisation (TWO). The changes signal a willingness among lawmakers to consider stakeholder input and ensure effective regulation in the gambling sector, essential for preserving Curaçao’s status as an international gambling hub.

Upcoming SiGMA event: SiGMA Asia 2024, 2 – 5 June. Find all the details here.