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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.
The license comes with a plethora of beneficial features for big market participants. Below are some of the pros of having gold-standard authorization.
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:
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.
Generally, the authorizing procedure includes such stages as:
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.
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.
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The international company Eternity Law International provides professional services in the field of international consulting, auditing services, legal and tax services.