The Gambling Act 2012 is the legislation that oversees the activities of casinos and gambling houses in Bulgaria. Dice games, poker, card games, and roulette wheel are a few of the gambling activities found in a casino. According to the Gambling Act, any technical device used for amusement, recreation and the demonstration of skills and knowledge are permitted in a casino. Most of the gambling houses run under the rules of a limited liability company which can be easily set up in Bulgaria, with complete support provided by our team of company formation specialists in Bulgaria.
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Requirements for opening a casino in Bulgaria
There are several conditions which need to be considered at the time you decide on opening a casino in Bulgaria. The following requirements are the most important ones:
- • the State Commission of Gambling issues the necessary license for casinos in Bulgaria;
- • a casino can be established if the premises, the technical requirements, and the accounting systems are approved;
- • the technical equipment must be tested and certified before obtaining the gambling license;
- • general control of the premises is then performed before the casino opens.
All of the above-mentioned requirements for opening a casino are of high importance, otherwise, the authorities can impose varied sanctions for rules infringements. Let us remind you that our company incorporation agents in Bulgaria are at your disposal with complete assistance and information if you want to open a casino in Bulgaria. You can ask for information about how to register a company in Bulgaria and the related conditions in this matter.
What types of activities can I have in a casino?
Card games including poker, roulette games, dice games, and slot machines are among the gambling activities found in a Bulgarian casino. The State Commission of Gambling in Bulgaria will also issue the necessary license for those kinds of casinos that address to online users.
The content of the gambling license
The gambling license also comes with the license for the import, manufacturing, and maintenance of the gambling equipment found in a casino. The name of the company registered in the gambling sector, information about the jackpot system and about the allowed number of gamers in a casino are among the details found in a gambling license. It is good to know that such a license cannot be transferred and if company information changes will take place, such details will have to be provided in a form of an amendment to the license.
Who can set up casinos in Bulgaria?
Both local and foreign investors or companies can open casinos in Bulgaria as long as they respect the applicable legislation in this country. Even non-profit organizations or sole traders can start gambling activities in Bulgaria. According to the Bulgarian laws, foreigners should invest around EUR 5.1 million in other activities in Bulgaria, create at least 500 jobs in order to obtain the gambling license. As for the eligibility of persons who would like to set up a casino in Bulgaria, they should have a clear criminal record, no previous bankruptcy declared, no financial convictions and no tax debts in Bulgaria. One should know that if an entrepreneur canceled the gambling license in a European country, he/she cannot set up a casino in Bulgaria.
Can I open a casino in an offshore zone in Bulgaria?
No, according to the Bulgarian laws, entities controlled by companies established in offshore zones cannot apply for a gambling license, and therefore cannot develop such activities in these special zones.
We mention that you can rely on our help if you want to establish a startup in Bulgaria. The preparation of the documents comes under the attention of our specialists, as well as the collaboration with the local authorities in this regard. You should also know that the minimum share capital for this type of business is BGN 2 and you will need a business address. We invite you to contact us online or by phone to benefit from our offers and our support in this endeavor.
Restrictions in the gambling area in Bulgaria
It is strictly forbidden to allow minors or persons without identity cards or in uniform and armed involve in gambling activities. A casino cannot be established around the premises of public institutions, hospitals or schools. The operators of a casino in Bulgaria are not allowed to give credit loans for clients. Also, winnings exceeding BGN 5,000 will not be paid in cash in a casino in Bulgaria. However, it is allowed to perform gambling activities in EUR or BGN, or in any other currency if the casino has a special license in this sense.
Bulgaria has a specific set of laws regarding the anti-money laundering and the procedure in which such crimes are combated. There are also special departments part of the State Agency National Security in charge of casinos and gambling activities which oversee the money operations in this sector, ad they are entitled to solicit details about the origin of certain transactions if it involves large sums of money.
Whether you would like to set up a land-based casino or develop such activities on the internet, it is best to ask for assistance and support in company formation. We kindly invite you to contact our team of company formation agents in Bulgaria and solicit detailed information.