To run a virtual gambling website legally, you need to get a permit. The biggest question that arises for newcomers is what jurisdiction to choose for legalizing a business. Very often the choice for numerous reasons falls on Malta. Malta has an impeccable reputation, which also applies to licenses issued there. Interesting to know, that the small island state was the first European country, which declared gambling legal. Currently, loyalty to the gambling sphere and its support by local governments make licensing in the country fit and proper for gaming operators.
Is it affordable to acquire a gaming license in Malta? Do the pros of having it cover all difficulties and expenses? Our answer is unequivocal yes. That’s true that the license issuing procedure in Malta is very complicated and requires careful preparation and the help of a professional lawyer. Nevertheless, having the license, issued by the Malta gaming authority MGA makes your gaming company competitive and prestigious. In addition, after obtaining this document, you’ll be able to work with widespread payment systems, buy official software ,open bank accounts and provide numerous types of games.
Let’s find out more about the local gaming license.
Types of Malta Gambling Licenses
Malta gaming authority issues 2 types of permits:
This license is intended for developers of games or software for gaming websites. It is important to consider the fact that operators are obliged to use only official software. That’s why it’s mandatory for developers to obtain a B2B license.
The business-to-consumer gaming license is intended for iGaming operators and allows them to offer players such types of games as:
- lotteries, etc.
Also, there are 4 B2C permit types:
- gambling against the computer, the result of which is determined by chance (online casinos);
- gambling between players;
- control skill games, such as logic games, quizzes, etc.
Operators can offer players several types of gaming services. To do it it’s needed to provide certificates for all used software to the Malta gaming authority MGA.
Malta Gaming License Requirements
Let’s consider what a gaming company owner, applying for a Malta gaming permit, needs to do:
- To register the enterprise in Malta;
- To collect mandatory documents about the company, its owner and the origin of funds and provide them to the Malta gaming authority MGA;
- To prepare a resume;
- To provide a business plan and certificates for all types of games;
- To pay fees and submit an application to the Malta gaming authority.
Operators also must complete and attach a number of other documents (The Entity Declaration Application Form, the Gaming and Control Systems Information Form, etc.)
LicensingAid can prepare a step-by-step application algorithm for you. Our specialists always take into account the peculiarities of each individual case and find the most fit and proper solution for your gaming company.
Procedure for obtaining an iGaming license in Malta
The procedure for obtaining a Maltese remote gaming license consists of several steps. On average, the issuing process takes approximately six weeks. After that, the applicant receives a temporary gambling permit for half a year. Then, the gaming company is waiting for a check, and if everything goes well, then the Malta gaming authority MGA will issue a new permit for ten years. This document can be renewed upon expiration. In order to extend the validity of a gambling license, the operator must submit an application for reconsideration during the two months prior to the expiration of the permit.
Malta Gaming License Cost
In the table below, there are all mandatory payments:
|Renewal fee||5000 euro|
|Key function certificate||50 euro|
|Transfer of a qualifying interest in a licensee||1500 euro|
|The maintenance fee for a material supply certificate||500 euro|
Operators are also required to pay an annual fee, the price of which differs depending on the type of a gaming license.
|License type||Annual fees|
And finally, operators must pay a minimum authorized capital from 40,000 to 100,000 euros. Its amount depends on the type of gambling activities that you will offer on your website. If you choose games of different types, you will need to submit an extended application. In this case, the authorized capital can increase up to 240,000 euros.
Maltese tax rates are very high. The corporate income tax rate in Malta reaches 35%, but for non-residents, in some cases, tax reduction is possible. Businesses providing gaming services are also required to pay an additional fee of 5% of their income.
Pros and Cons of Obtaining a Malta Gambling License
- Opportunity to work in the European market.
- Stable currency and economic situation.
- The good reputation of the jurisdiction and the Malta gaming authority MGA.
- Having a Maltese gaming license increases the prestige and competitiveness of a gambling establishment.
- A Maltese permit is fit and proper for those who want to obtain a residence permit in Malta.
- The opportunity to provide numerous types of games (including virtual casinos, sports booking, fantasy sports, etc.)
- High taxation.
- High license costs.
- The license issuing procedure takes a long time.
- Strict control over operators by the Malta gaming authority
Despite the high license cost, Malta provides very good and favorable conditions for running online casinos. Moreover, a local permit, issued by Malta gaming authority, allows you to enter the international market.
The application process would be faster and easier with professional help. Contact LicensingAid and our experts will accompany you throughout the entire journey: from choosing the fit and proper jurisdiction , registering a gaming company and collecting documents to submitting an application and obtaining a long-awaited license.