Cyprus gaming license

Compliance in Cyprus is practical. The rules reflect EU standards and focus on monitoring, recordkeeping, and risk-sensitive controls.

Online operators cannot accept cash. Payments must be by debit/credit or other approved electronic methods, and players may not place bets unless the account balance covers the stake. That design supports AML/CFT controls and clean audit trails.

In your AML program, bake in the following:

• Customer due diligence for transactions of EUR 2,000 or more (single or linked). Increase diligence for higher-risk profiles or jurisdictions.
• Verification of identity within defined deadlines after registration and before allowing unrestricted betting or withdrawals.
• Recordkeeping of betting transactions and KYC data (commonly five years or longer where required).
• Transaction monitoring, internal reporting, and procedures for suspicious activity reports to the competent authority.

Timelines and practical expectations

How long does it take to get licensed in Cyprus? The honest answer: it depends on you as much as the authority. The NBA’s review time hinges on your size, the number of key persons, your structure, your platform’s complexity, and how fast you answer follow-ups.

Plan on several months from kick-off to approval. Start banking and guarantees early, finalize your technical set-up before filing, and keep your Q&A channel with the NBA moving. If you’re a supplier seeking CGC-related approvals or onboarding with a licensed casino operator, allow similar lead time; vendor due diligence can take weeks, sometimes longer around peak periods.

Frequent questions, answered candidly

Can I run an online casino in Cyprus? Not under a Class B license. Cyprus permits online betting, not online casino games of chance or slots, under the NBA framework. Casino gaming is a separate CGC world and not generally open for online licensing.

What’s the real cost to get in? Budget the license fee (EUR 30,000–45,000), EUR 500,000 paid-up capital, a EUR 550,000 bank guarantee, platform/hosting/certification costs, and six figures annually for compliance, people, payments, and audits. Add betting tax at 13% of net revenue, then corporate tax at 12.5% on profit.

Are licenses for sale? No. Licenses are not transferable. Acquiring shares in a licensed company is a change of control and requires regulatory approval. Treat any “license for sale” pitch as a red flag.

Can I accept crypto? The current framework for Class B allows debit/credit cards and other approved electronic payments. Crypto is not an approved tender for online betting under the NBA rules.

What about self-exclusion? You must run a self-exclusion program with clear application steps, durations, conditions, and a path to return after the period ends. Make it visible, simple, and enforce it across channels.

Cyprus is attractive because it marries a credible EU license for betting with a competitive tax regime and experienced professional services. The 12.5% corporate rate is compelling, but the real efficiency comes from clean structuring, treaty access, and no withholding tax on dividends and interest to non-residents in many cases.

Get the basics right: Cyprus holding company with transparent ownership, a betting subsidiary with EUR 500,000 paid-up capital, and local directors who actually direct. If you’re a foreign operator, a Cyprus branch is possible, but you still need the bank account, bank guarantee, and NBA-compliant systems. Add intercompany agreements for platform IP and risk-sharing only where they withstand transfer-pricing scrutiny.

Pitfalls that will sink your application

Most rejected or delayed files share the same DNA: undercooked documentation and improvised controls. The NBA looks through gloss to substance—be ready.

Avoid these traps:

• Treating the license as “for sale” or trying to transfer it. It isn’t, and you can’t.
• Filing without the bank guarantee or with unverified capital contributions.
• Skipping the backup server in Cyprus or ignoring the NBA’s technical directives.
• Marketing beyond the code of practice or failing to geoblock restricted audiences.
• Letting KYC slide beyond permitted timeframes, or allowing betting without sufficient account funds.
• Offering prohibited content: online casino games of chance, slot machines, lotteries, horse racing betting, or other banned products.

Can you buy a Cyprus license “for sale”?

Short answer: no. A license in Cyprus is granted to a specific legal person for a defined scope and period. It cannot be transferred or sold. The only way to “get” a license is to apply and be approved by the NBA, or—in the casino space—engage within the CGC’s tightly controlled framework.

If you’re considering acquiring a licensed company, understand that a change in ownership or control will trigger regulatory review. Expect full disclosure, fresh fit-and-proper checks, and the risk that the license is suspended or revoked if approvals aren’t obtained. Do proper legal and regulatory due diligence before you sign anything.

A disciplined pre-filing check saves months. Make sure you can answer “yes” to each point and attach proof rather than promises.

• Cyprus entity or branch is registered, with betting as principal activity and at least EUR 500,000 paid-up capital in place.
• EUR 550,000 bank guarantee drafted to NBA specs, issued by a Cyprus/EU bank, with the correct post-expiry validity.
• Platform certified to the NBA’s directives, backup server in Cyprus configured and tested, .com.cy domain arranged where applicable.
• Policies finalized: AML/CFT, responsible gaming (including self-exclusion), complaints, IT security, business continuity, and marketing code compliance.
• Banking and payment flows set for cashless operations; player funds safeguarded; records retained as required.
• Key persons vetted, declarations completed, and all supporting documents organized for a clean, complete application.

Get these right, and Cyprus becomes what it’s known for in the gaming space: a clear, credible EU home for betting operations that value regulation, transparency, and a stable platform to scale.