The Malta gaming license is fairly considered the industry gold standard. Given the worldwide recognition, Maltese iGaming businesses operating under the remit of the local Gaming Authority(MGA) will take advantage of many opportunities opened up to them. Along with the famous name, they will also find it easier to set up bank accounts, enter 3rd party agreements, and cater to foreign customers. The other side of these benefits, however, faces some red tape. The processes for a Malta gambling license obtaining are typically slow, expensive, and complicated. To become a licensee, the operator will have to do a lot of paperwork and even attend meetings with authorized representatives. However, if you are a large casino or a well-established brand seeking a domicile in Europe, Maltese jurisdictiοn would be the best solution.
Pros of the Malta Gambling License
The license comes with a plethora of beneficial features for big market participants. Below are some of the pros of having gold-standard authorization.
- Prestigious hub: The gambling license in Malta is broadly deemed to be one of the most well-regarded in the world. It guarantees that the firm can be trusted and that its operations comply with EU rules.
- Tax benefits: The corporate tax rate in Malta is 35%, however, there is a full tax imputation system in place, meaning that shareowners are entitled to a tax credit that’s equal to the tax paid on the profits that the dividends were paid for. There is also a gaming levy that is taxed against gaming profits obtained from clients based within Malta. This rate is set at 5% and is applied on the grounds of whether the player resides in Malta.
- Stability: In 2004, Malta joined the EU. In addition, it also holds a seat in the British Commonwealth. The country features a stable social and political environment, consistently strong economy-driven financial services, and ongoing progress.
- Double taxation agreements: The Maltese state authorities are a party to over seventy double taxation agreements. This means that a firm with a Malta iGaming license is not necessitated to cover taxes in their state of origin as well.
- Accessibility to other markets: Any firm holding a casino license in Malta is eligible to deliver their offers in many states. Although, there are some restrictions towards offering gambling to clients in FATF-blacklisted territories and countries where such type of activity is forbidden by the law or local permission is mandatory.
How to get a gaming license in Malta: brief overview
In 2018, the MGA substantially facilitated the authorizing set by doing away with the multiple authorization subtypes and offering just B2B and B2C licenses. Accordingly, now there is no need to apply for separate permits subject to what kind of services an operator intends to deliver. To become a licensee, the following obligations should be satisfied:
Each officer, shareowner, director, and the beneficiary is necessitated to submit the following papers:
- Certificate of no criminal records;
- The possibility to take several key functional positions within the business;
- Original bank references;
- Duplicates of government-issued ID documents;
- A description of firm`s activities;
- A description of all programs applied and 3rd party contracts.
N.B. All papers must be in the English language (if the original is not Eng, then a translation is mandatory) and no older than 3 months.
Approval process
Generally, the authorizing procedure includes such stages as:
- Passing via interviews with a representative from the MGA.
- The MGA will carry out an examination of the company description including promotion, expansion, offers, etc. The company must possess a min. paid-in capital of EUR 40,000 and EUR 240,000.
- To become a licensee, a firm must arrange a local physical office. The structure of the firm must have appointed one senior manager and an administrative assistant.
- Prior to a firm being approved, it is permitted to ‘test’ its activity for 60 days. During this time, the company must ask for an independent auditor who will carry out an audit of the real state of affairs and make a comparison to one that was disclosed in the papers submitted. If these versions feature significant differences, the whole process must start from scratch.
- Once all stages are done, the MGA can approve an applicatiοn or refuse it if any errors were founded.
Malta Gaming License Cost
Similar to other onshore authorizations, the Malta gaming license price is costlier compared to οffshore authorizations. This is a fit for large market players who have the expertise and the appropriate capital. The yearly license cost ranges from EUR 10.000 to EUR 25.000. The cοmpliance price is subject to its category and varies from 5.000 to EUR 500.000.
Get your license with our specialists
We are your service to assist you in acquiring appropriate authorization for your business. If you have any questions, please contact us for advice. You may also consider an opportunity to buy a Malta gaming license or take a look at our ready-made Malta gaming license for sale.
Please contact us to get more information.
You can see our current offers in the categories “Cryptocoins and licensing of cryptocurrency operations”, “Ready-made companies”, “Banks for sale” and “Licenses for sale”.