Investors who run operations in the field of gambling can expand their business activity in Spain, which is one of the most representative states in the European Union in this sense. At the moment, there are more than 250,000 gambling machines situated in Spain. The domain is highly regulated by Spanish authorities for gambling activities registered in the offline and online environment. Foreign investors who want to set up a gambling business in Spain can receive an extensive presentation on this field from our team of Spanish company formation agents.
Gambling legislation in Spain
Entrepreneurs interested inopening a gambling company in Spainhave to comply with a set of rules and regulations available for this field. The gambling activities are controlled by state bodies and local authorities. Companies with activities across the state are controlled by state institutions, while smaller companies fall in the supervision of regional authorities.
The following video offers a short presentation on the gambling activities available in Spain:
The gambling companies are supervised by the General Directorate for the Regulation of Gambling Activities; the institution is allowed to propose new regulations for the industry, to verify the applications for authorizations required for gambling companies or to monitor and fine gambling activities in Spain.
The main legal framework applicable to the industry is the Spanish Gambling Act; the Act was enabled in 2011 and it mainly focuses on the national gambling activities.
The Act establishes the way in which fraud procedures are enforced and provides a legal framework for the regulation of the online gambling environment. At the same time, the Act offers protection to both gambling companies and gambling users; our Spanish company formation agents can offer more details on the legislation available for the industry.
Companies which organize online gambling activities are also required to obtain a license for any type of games. The domain is defined by the Article 3 of the Gambling Act, which stipulates that a company should meet the following criteria to qualify as a gambling activity:
•activities for which there is a bet for money;
•bets are established on future results;
•prizes are offered in money or through other means.
Call us now at +34 915 36 78 06 or +34 938 074 056 to set up an appointment with Federico Richardson, one of our specialists in company formation in Madrid and Barcelona. Alternatively you can incorporate your company without traveling to Spain.
As a Lexidy Law Boutique SLP client, you will benefit from the joint expertize of local lawyers and international consultants. Together we will be able to offer you the specialized help you require for your business start-up in Spain.