The Online Gaming Act of 2002, provides the legal framework for the provision of the Gaming License in Panama.
The Junta de Control de Juegos (Gaming Control Board) is responsible for issuing licenses and monitoring the operations of all licensed gambling sites. Expansion began in 2002 in offering online gaming licenses to casino operators. Companies interested in establishing an internet gaming portal must be registered under the Online Gaming Act of 2002. Under this regulation, international betting is allowed through internet gaming.
The entity making the application is a Panamanian company under the Panama's Corporation Law 32 of 1927 e.g. Corporations
The Panama Company applying for the Gambling License requires at least three Directors.
The directors can be from any jurisdiction.
The Control Board will ensure that an operator has sufficient financial resources to be able to successfully finance their online betting operation before a license is awarded.