Cyprus Class B License Overview
The Cyprus Class B betting license is a legal framework that allows companies to operate online sports betting platforms under the supervision of the National Betting Authority (NBA). Established by Laws 106(I)/2012 and 37(I)/2019, this license is valid for one or two years and excludes casino games, poker, and slots.
Who Can Apply for a Cyprus Class B Betting License
Both Cypriot and foreign companies are eligible to apply for a Cyprus Class B betting license. The applicant must register a local company or establish a branch in Cyprus. A local director is also mandatory for regulatory purposes.
License Requirements and Eligibility
- Minimum paid-up capital: โฌ500,000
- Bank guarantee: โฌ550,000 valid 6 months beyond license term
- Business must focus on betting services
- Clear criminal record for directors and stakeholders
- Applicants must be 25 years or older
Foreign Companies and Cyprus Licensing
Foreign entities can apply for a Cyprus Class B betting license by partnering with a local entity or setting up a branch office. At least one Cyprus-based director must be appointed. Shareholders can be of any nationality.
License Fees and Duration
- 1-year license: โฌ30,000
- 2-year license: โฌ45,000
- Processing time: approximately 2โ3 months
- 75% of the fee is refunded if the application is rejected early
Technical & Compliance Rules
- Backup server hosted in Cyprus with real-time data sync
- Strict AML and KYC compliance
- Segregated accounts for player funds
- Website must use .com.cy domain with proper disclaimers and age control
Conclusion: Why Choose Cyprus
The Cyprus Class B betting license offers international operators a secure, EU-regulated environment for sports betting. With favorable tax conditions, professional oversight, and high compliance standards, Cyprus is a strategic choice for expanding iGaming businesses.
FAQs About Cyprus Class B Betting License
Can foreign companies apply for a Cyprus Class B betting license?
Yes. Foreign companies can apply by setting up a branch or forming a local partnership, and appointing a Cyprus-based director.
What capital is required to obtain a Cyprus Class B betting license?
Applicants must have โฌ500,000 in paid-up share capital and a โฌ550,000 bank guarantee.
What is allowed under this license?
Only online sports betting. Casino games and poker are not permitted under the Cyprus Class B betting license.
How long does the license process take?
The typical processing time is 2 to 3 months after submission.
