Contact us for more advice on the requirements for registration and securing of a license for a gaming/betting company in Tanzania, Kenya, Rwanda, Uganda, Zimbabwe, South Africa, Zambia, Nigeria, Ghana, Cameroon, Burundi and Zanzibar; Email: email@example.com , WhatsApp: +255752500040
Gaming companies in Tanzania and the rest of the world are making a lot of money. We are being contacted by many local and foreign clients inquiring on the procedures of incorporating the company and all the licensing and other after registration requirements one should have to own a gaming company.
The Business Registration and Licensing Agency (Brela), is the government agency established under the Government Executive Agencies Act, No. 30 of 1997 responsible to deal with company registration among others. Like any other companies, gaming companies are being registered with BRELA.
Procedures and all necessary requirements to process registration is being provided and can be accessed via https://www.swissattorneys.co.tz/2020/01/23/company-registration-requirements-in-tanzania/
The Gaming Act, Cap 41 and the Gaming Regulations, 2003 on the other hand, contains all the statutory requirements for licensing of a gaming Company. Section 7 (2) of the Gaming Act, Cap. 41 gives the mandate to the Gaming Board to oversee, monitor and regulate the conduct of gaming activities in Tanzania, thus any body planing to to engage in any gaming business must obtain gaming License issued as per the provisions of the Act.
General Conditions: To be granted with the License, the following will be considered:-
- A person applying for the license should has never been denied a gaming license by the Gaming Bord of Tanzania or any other jurisdiction;
- Has never had a gaming License suspended or revoked here in Tanzania or other jurisdiction;
- Has never withdrawn an application for any gaming license anywhere for whatever reasons;
- Possesses a gaming premises that are deemed suitable by the GBT; (It is strongly advised that the applicants should first identify the premise and seek clarification from the GBT as some of the premises may not be suitable for gaming purposes);
- Complies with the provisions of the Act and the Gaming Board Regulations, 2003;
- Has not been convicted of any criminal offence involving fraud or dishonesty and
- Has proof of adequate financial availability to pay all obligations and to provide for adequate working capital to finance the gaming operations
- Applicant will be subjected to the background investigations and vetting processes including source of funds to be used in the business. It is expected that the applicants will provide the necessary cooperation to enable GBT to examine the application appropriately.
Required Documents. GBT will require the following documents necessary for processing the application:-
- Two copies of Business Plan/Feasibility study. it is expected the study to contain the following:
- Clear statement of project objectives;
- Applicants’ profile;
- Details of investment costs and how the proposed investment will be financed; name the specific source of funds and their contacts; terms and conditions of the loan if applicable;
- Source of technology if applicable and gaming equipment;
- Projected financial and economic analysis; the financial analysis including projected annual balance sheets and income statements for the first four years;
- Market study;
- Expected Employment generation;
- proposed implementation schedule; and
- Any other information that will be useful for the determination of the application;
- Dully filled application form and application fee paid.
- Dully filled Declaration form for each Director
- A copy of Memorandum and Articles of Association
- A certified copy of Certificate of company incorporation
- Evidence of the sufficient finance capital available for the implementation of the project
- Proof of citizenship of every subscriber and every Director and senior officer. This include detailed CV, photocopy of the first five pages of a passport, a passport size photograph and historical background
- Audited Balance Sheet and income statement of every Subscriber, Director and Senior officer.
- Tax Clarence from the Income Tax Office of the country of origin of the applicant and every Director and Senior Officers
- Statement from two persons (not relatives) recommending for good morals and financial responsibility of the Subscriber, Directors and Senior Officers.
- Company Board of Directors’ Resolution to invest in Tanzania.
Minimum Investment Capital
- Minimum Investment Capital for a local Company shall be USD 300,000.00. For purpose of this requirement, Local Company means a company incorporated in Tanzania and whose majority shareholders are/ is a citizen of Tanzania.
- Minimum Investment Capital for a Foreign Company shall be USD 500,000.00. For the purpose of this requirement, Foreign Company means a company incorporated outside Tanzania or in Tanzania but whose majority shareholders are foreigners.
Testing and Certification of the Systems
Applicants are required to test and obtain certification for their devices, management systems and game software that they will deploy in their gaming activities. These systems and games should be tested against applicable standards.
You wish to register a Gaming Company in Tanzania, Uganda, Rwanda, Kenya, Nigeria, Ghana, Zimbabwe, Zambia, South Africa, Zanzibar or Burundi? Contact us for more information, our experienced attorneys will take you through and assist to handle your assignment. Contact us now https://www.swissattorneys.co.tz/contact-us/