Application for Malta Gaming License
The benchmark for the sector is the Malta gaming licence. A platform managed by the Malta Gaming Authority, well-known throughout the world, will have numerous doors opened to them. Additionally, they will discover it simpler to register bank accounts, sign contracts with third parties, and provide services to clients abroad.
But each of these advantages has a cost. The lengthy, expensive, and complicated licencing application procedure for a Malta online gaming licence. The applicant will need to submit a tonne of paperwork, be persistent, and even show up in person for meetings with the regulators in order to obtain the licence. However, it is worthwhile if you are a major gaming company or a well-known brand searching for a home in the EU.
We typically don’t advise startups or business owners to obtain a Malta online gaming licence. This is because the process is expensive, has strict criteria, and takes a long time to finish. We typically work with established, successful businesses who want to grow into new markets and take advantage of new payment alternatives.
Benefits of the Malta Gaming License
Numerous advantages come with the Malta online licence. Although it is not simple or inexpensive to obtain a gaming licence there, some operators find it to be worthwhile. The gold-standard licence for the iGaming sector has a number of advantages, some of which are listed below.
One of the most prestigious gambling licences in the world is usually regarded as coming from Malta. The fact that the operator has this licence demonstrates that they are trustworthy, ethical, and compliant with EU regulations. It is accepted and understood that if an operator has been given a gaming licence by Malta, they have passed a number of rigorous checks and balances.
The local workforce is very knowledgeable and experienced in the gaming industry because iGaming has played such a significant role in the local economy. English-speaking Maltese and European professionals have a lot of talent (with knowledge of other key European languages). A sizable number of auxiliary gaming service companies, such as those in the fields of software, hardware, affiliate marketing, data, and advertising, are also based in Malta.
Player trust and confidence will increase significantly if your platform prominently displays the Malta gaming licence. Gaining and maintaining the trust of clients is crucial in a cutthroat economy. High levels of player protection and strict control measures that are enforced by the Malta Gaming Authority serve as the foundation for trust in the Malta gambling licence. Furthermore, strict anti-money laundering standards are upheld, and all relevant EU legislation is fully complied with.
Malta has a 35% corporate tax rate, but there is a full tax imputation system in effect. This indicates that owners are qualified for a tax credit equivalent to the tax paid on the earnings used to fund the dividends. The most frequent tax credit is the 6/7ths, which, depending on the situation, might result in an effective tax rate as low as 5%. Additionally, a gaming tax is applied to gaming profits made by players based in Malta. Whether the gamer is a resident of Malta affects the rate, which is set at 5%.
Malta Gaming License Requirements
Compared to most other jurisdictions, the application process for a gaming licence in Malta is more rigorous and extensive. This is because the licence is highly regarded, thus appropriate checks and procedures must be carried out. We shall discuss the prerequisites for a Malta online gaming licence in this part, but you should be aware that the Malta Gaming Authority may, in some circumstances, request additional detailed information.
The application process was greatly simplified in 2018 by the Malta Gaming Authority. This was accomplished by eliminating the many licence types and only providing a B2B licence and a B2C licence. No longer is it necessary to submit separate licencing applications based on the games and services you want to provide. Without having to submit a new licencing application, you are free to grow your service offering as you go. The license’s duration has also been increased from five to ten years. You must apply for a B2C licence if you intend to provide online gambling.
To streamline the application process for gambling licences, the MGA announced a number of revisions to the Gaming Authorisations and Compliance Directive in October 2021. The primary function duties that operators are needed to fill are the focus of these revisions.
Basic Requirements for a Malta Gambling License
The standard qualifications that every applicant must fulfil are listed below. The following documents must be submitted by each and every official, authorised person, shareholder, director, beneficial owner, and ultimate beneficial owner:
- A “Fit and Proper Test” must be passed.
- For each candidate and company owner, a police good conduct certificate that is no more than three months old.
- All owners’ and applicants’ original bank references must be no more than 3 months old.
- Notarized copies of each applicant’s and owner’s passports.
- The capacity to perform a variety of crucial functional functions for the business.
- A comprehensive business plan.
- A compliance and software audit.
- Information on all gaming programmes utilised as well as third-party agreements.
- Servers for all gameplay and operations must be located in Malta.
- Every document must be written in English and must be no more than 90 days old. Documents that are not in English must have certified translations into English.
Each corporation has unique requirements, commitments, organisational frameworks, and goals. To obtain the licence, establish your business, and take care of other corporate services-related issues, you should be ready to allocate more funds than this. Incorporation fees, document preparation, account opening, payment provider setup, professional service fees, and audit-related expenditures are a few additional expenses.