Gambling in Singapore
The gambling industry has started to develop in Singapore during the last few years as a response to the global trends of gaming activities. However, the Singapore authorities have been preoccupied to provide optimum conditions for gaming operators from the first establishments or casinos, lotteries and other gambling facilities. Considering online gambling has become one of the most prolific industries, the Singapore Casino Regulatory Authority has started implementing laws and regulations to shield legitimate companies from illegal operators.
Legislation related to gambling activities explained by our experts in opening companies in Singapore
There are several laws regulating gambling activities in Singapore. Among these, the oldest are:
- – the Private Lotteries Act of 1952,
- – the Betting Act of 1960,
- – the Common Gaming House Act of 1961,
- – the Betting and Sweepstake Duties Act.
In 2006 the Singapore Casino Regulatory Authority enabled the Casino Control Act in order to allow investors to operate gaming facilities in the city-state based on special licenses. There are currently two large casino operators in Singapore.
In 2014 the Government enabled the Remote Gambling Bill which is meant to regulate online gaming in Singapore. For detailed information about the laws on gaming activities in Singapore or for assistance in order to open a company in Singapore in this field of activity you can refer to our specialists in company incorporation.
Types of gaming activities in Singapore
The 2014 Remote Gambling Bill allows for the following types of gaming activities to be undertaken in Singapore:
- – betting,
- – gaming,
- – lotteries,
- – games of chances.
The Singapore legislation also establishes that online gambling activities can be conducted through remote communication means such as the Internet, telephone, television or radio. Companies providing online gambling services are required to obtain a license with the Media Development Authority in Singapore for conducting such activities.
The law also provides for exemptions from certain licensing requirements for online gaming activities in Singapore. These exceptions apply only to foreign operators providing their services in Singapore. However, for detailed information on how to open a company in Singapore as a gaming facility and licensing requirements it is best to verify with our company incorporation agents.
If you are interested in setting up a company in Singapore, you can use our dedicated services. Our company formation consultants are at your disposal with tailored support in terms of business registration which includes documents preparation and filing with the Accounting and Corporate Regulatory Authority.