The gaming industry is a lucrative market that continues to grow at a rapid pace. Among all the jurisdictions’ licenses, the Malta gaming license is one of the most trusted ones. Since the enactment of the Malta Gaming Act, 2018 (Chapter 583), the country has streamlined its gaming licensing procedures and simplified the process.
Are you looking to obtain a Malta igaming license? Then read on to learn in depth.
What is a Malta Gaming License?
It is also known as a gambling license; a Malta gaming license is a key permit that allows you to access the country’s gaming industry. It enables you to offer both online and offline games to the people.
The licensing activities are governed under the Malta Gaming Act, 2018, and the Malta Gaming Authority (MGA) oversees them.
What are the Different Gaming Licenses in Malta?
Malta has two types of gaming licenses, which are covered under the sublegislation 583.5. The following are the types of licenses:
- Gaming Supply License: It is a B2B license that allows a firm to provide critical gaming supplies such as software, core logic, algorithm, and so on the to the B2C license holders.
- Gaming Service License: It is a B2C license that enables a firm to cater to the end users. It provides games such as online betting, fantasy sports, and more.
Aside from this, MGA also provides numerous permits that can be acquired as and when required. These permits are issued for a limited time period only.
What are the Top Benefits of a Malta Gaming License?
There are numerous advantages of obtaining a Malta gaming license. Here’s a quick glimpse:
-
No Separate Licenses
You can provide both online and offline games via a single license. That means a firm does not need to acquire multiple licenses to provide different types of games.
-
Reduced Tax Burden
Malta implements a full imputation tax system that provides non-resident shareholders with a tax advantage. Thus, any non-resident shareholder in the country can claim a 6/7th refund on the tax paid. This, in turn, reduces the overall corporate tax burden to just 5% from 35%.
-
Long Term Planning
Since the Malta Gaming Authority issues gaming licenses for 10 years, any firm can plan for the future of the business effectively.
-
Highly Reputable Jurisdiction
Malta is one of the top-tier jurisdictions that attracts investors from across the globe. A Malta gaming license is prized for its quality and is trusted across the globe.
-
Corporate Group License
Firms that are a subsidiary of a parent company need not obtain a separate license. They can operate via a single license held by the corporate group. Moreover, they do not need to obtain a B2B license if they are providing the software only within the group and not to the general public.
How to Obtain the Malta Gaming License?
You can follow the steps below to obtain a Malta gaming license:
-
Get in Touch with a Consultant
A consultant can help you navigate the overwhelming Maltese gaming law. Moreover, they will guide you in selecting the right gaming service when applying for the license.
-
Set up a Firm
Under the law, only a firm registered in Malta, such as a Maltese limited liability company, can apply for the license. A consultant can help you meet the requirements and formalities of company registration in Malta.
-
Fill Out the Form
Once you have set up the company and finalized the types of services that you will provide, you can fill out the form with all the key details. Moreover, you must also submit the key documents, such as government-issued identification documents, company-related documents, and so on.
-
Undergo Review
The Malta Gaming Authority has very strict review requirements for applicants. In particular, the ultimate beneficial owner must undergo a strict fit-and-proper test to assess the finances and background.
-
Get the Approval
Once the reviews are done and there is no discrepancy, the MGA will issue the license in your firm’s name.
Malta’s legal framework for the gaming industry is highly comprehensive and requires strict regulatory oversight. That’s where appointing a consultant such as Business Setup Worldwide can be helpful.
