Costa Rica experience
Posted by: RHutch (142.46.131.---)
Date: May 8, 2008 09:46PM

Good day,

Great to finally find an online gaming forum that isn't saturated by scam artists and incompetents.

We are in the process of setting up a sports gaming site out of Costa Rica. We had great difficulty finding a license that catered to our services. It isn't a bookmaking service, but similar; hence our need for Costa Rica.

We have some lawyers working on it for $500/hour, but I've quickly realized that I could take care of most things myself and would very much prefer to.

My rough understanding of the process is as follows:

1) Purchase a Costa Rican shelf company.
2) Secure non-Costa Rican off-shore bank accounts.
3) Acquire merchant account(s)
4) Host the site in Costa Rica while blocking local access.

Most of our operations will be based out of either Canada or Australia.
Initially, we will NOT be servicing the US/Canada.

A couple issues remain unclear to me:

1) Do we require a physical presence in Costa Rica?
2) Whose name should we assign to the Costa Rican company (would a primary partner be ok?)
3) And primarily, how would we structure operations in Canada?

If anyone can help with any of these issues, or has experience in such matters, please advise.

Many thanks,
Ronald

BTW, anyone used: [www.cr-offshorebusinesscenter.com]







Re: Costa Rica experience
Posted by: Jeff (201.203.248.---)
Date: May 9, 2008 03:45PM

A company should cost you about $300 or so, if done cheap. The books and stuff the lawyers have to pay is $120.

If you buy a shelf corp, maybe $400. Bank accounts, if you have someone to make the intrudtcion, not hard that either. Hint: use a name that is not something related to gambling, easier that way to get the bank accounts open. And DONT use those bank accounts to wire and accept wires transfers from players.

If you use a lawyer as a noinbmee, then he will charge you a few 100's a year for that and can also be the one with the address for recieveing notifications etc. That is the only thing you need. The Preisdent is the position that carries any weight and the one that normally signs for contracts, deals etc. so if privacy is not a concern, then use one of the partners.

As for how to structure the operations in Canada - phew! that's an issue since its illegal. If you are getting in on sportsbetting, it's much much better to actually hire someone to help you out, as it seems now, you have little or no experience. If you do it without assistance you could quickly find yourself in more trouble than you can handle. The costs will sky rocket.
Paying lawyers is not the solution, but rather, finding business experts that can assist you is the way to go.

If you have any other questions, feel free to email me.


Jeff





Re: Costa Rica experience
Posted by: WDB (200.81.36.---)
Date: May 9, 2008 03:55PM

Hello,
Look at you Private Message center.
J

Re: Costa Rica experience
Posted by: The Banker (200.59.16.---)
Date: May 9, 2008 07:36PM


Hello Jeff

If you are serious fly down to SJ and we will pick you up at the airport and set you up with a full turnkey solution.

Our company now has branch office in San Jose www.highriskmerchantaccounts.co.uk and we can personally introduce you to all our support connections that we have dealt with since 2001

We are Canucks as well

Cheers
The Banker

Re: Costa Rica experience
Posted by: Elusivecarrot (200.122.166.---)
Date: May 10, 2008 06:58PM

" Great to finally find an online gaming forum that isn't saturated by scam artists and incompetents. "

Possibly the single funniest quote I have ever read

Re: Costa Rica experience
Posted by: JerryG (---.dsl.ltrkar.swbell.net)
Date: May 11, 2008 06:00PM

Funny stuff Elusive.

Global Gaming News

Re: Costa Rica experience
Posted by: RHutch (142.46.131.---)
Date: May 14, 2008 08:02PM

Thanks for the info Jeff.

This past weekend I talked with some Canadian operators based out of Costa Rica and they've suggested a move away from CR, in favour of Panama.

Does anyone have any experience with Panama? Or could perhaps recommend a consultant that does?

When we started this process we wrongly assumed that the design/development process would be the most tedious...finding sound structural advice has been much more challenging.

Thank-you in advance,
Ronald



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