The Philippine Amusement and Gaming Corporation (PAGCOR) is a regulatory body authorized by the Philippine government to issue and manage various gaming licenses.
Whether it's online gaming, physical casinos, or offshore gaming operators (POGO), legal authorization from PAGCOR is required.
PASA will provide detailed information on the process, materials required, costs, and key considerations for applying for a PAGCOR license, assisting businesses interested in entering the gaming industry in the Philippines to successfully obtain a license.
Types of PAGCOR Licenses
Offshore Gaming Operator License (POGO): For online gaming companies registered in the Philippines but serving overseas customers.
Local Gaming Operator License (PIGO): Allows the provision of online gaming services within the Philippines, requiring higher capital and compliance standards.
Physical Casino License: Applicable to enterprises operating physical casinos within the Philippines.
Overview of the Application Process
Submission of Letter of Intent: Submit a formal letter of intent to the Chairman and CEO of PAGCOR, expressing the desire to apply.
Company Registration: Register the company with the Philippine Securities and Exchange Commission (SEC), submitting articles of incorporation, organizational outline, and other documents.
Preparation of Application Materials: Includes a complete application form, company financial statements, identity proofs of major shareholders and executives, anti-money laundering and compliance policies, etc.
Payment of Application Fees: Depending on the type of license, pay the corresponding application fees, e.g., approximately $50,000 for offshore gaming operators.
Background and Compliance Checks: PAGCOR will conduct a comprehensive review of the applicant company's background, financial condition, compliance policies, etc.
On-site Inspection (if applicable): For physical casinos, etc., PAGCOR may conduct on-site inspections to ensure operational standards are met.
Issuance of License: Upon completion of all reviews and confirmation of compliance with requirements, PAGCOR will issue the respective gaming license.
List of Main Materials Required
Company registration documents (such as articles of incorporation, organizational outline) Regulated United Europe
Fully completed and notarized application form
Identity proof documents of major shareholders and executives
Company financial statements and proof of funds
Anti-Money Laundering (AML) and Know Your Customer (KYC) policy documents
Office lease contract or property ownership proof
Other supporting documents required by PAGCOR
Costs and Timing
Application Fees: Depending on the type of license, fees range from $26,000 to $50,000.
Annual Fees: Licensed enterprises must pay annual fees, the amount of which depends on the business scale and type.
Processing Time: From submission of a complete application to obtaining a license, it usually takes 1 to 3 months.
Key Considerations
Compliance: Ensure that company operations comply with Philippine laws and regulations, especially in terms of anti-money laundering and customer identity verification.
Tax Obligations: Understand and fulfill tax responsibilities in the Philippines, including but not limited to franchise taxes and corporate income tax.
Ongoing Regulation: Licensed enterprises must undergo regular reviews and supervision by PAGCOR to ensure continuous compliance with license requirements.
Applying for a PAGCOR license is a critical step in entering the gaming market in the Philippines, requiring thorough preparation and understanding of the requirements. It is recommended to seek professional legal and compliance advice during the application process to ensure smooth licensing and legal operation.
