Introduction to a Malta e-Gaming License
When it comes to the overall gold standard and top tier gambling licenses around the world and no doubt that the Malta Gambling license is amongst these. It provides not only a high level of credibility but also has a host of different advantages, such as easy access to banking services and it allows the access for overall business expansion to other areas of the world through this, with an ease in service.
However, it can be a much more expensive and overly complex service that other gambling licenses do not have. Despite this, many European online casino brands are using it, in order to get a key foothold into the European casino market, in what remains one of the largest and most lucrative in the world.
Process for getting a Malta Gaming License
The entire process is a much more lengthy one that when looking to apply for a Curacao Gaming license for example. This application process is around 30/50 weeks in total but can be much faster if meetings are able to be scheduled in advance and documentation for the entire process is ready and in place.
This process includes:
- Pre-Application Meeting
The first stage is the pre application meeting, where applicants will need to meet with a MGA officer and cover the initial documentation and compliance measures.
- Fit and Proper Test
The next stage is then the fit and proper test. This is a detailed review and the entire business and model, including the applicants business experience, overall financial standing and whether they a compliant to run a gaming operation. This process would include a face to face interview, a CV review, checks with regulatory and law enforcement and then finally a due diligence and risk assessment test.
- Issuing the License
Once all the previous processes have been met and the MGA will then grant the license. This is where the applicant will then need to pay the sign-up fee to finish the set up process. This would be a sign up cost of 30,000 EURO, which is one of the largest of the licensing boards.
Malta Gambling Licensing Requirements
There are a number of important licensing requirements that are in place. This was extensive but has been streamlined further in 2018, to improve the overall process for applicants. This was then changed further in 2021, with the basic applicant requirements included below:
- Police Conduct Certificate
- Passing the MGA ‘Fit and Proper Test’
- Bank References
- Copies of Passports for Applicants
- A Clear and Comprehensive Business Plan
- Audits
- Full Information on Third Party Agreements in Place
- All Hosting and Operations to be performed in Malta
To Note: This process and full documentation must be provided and validated within 90 of the application starting.
Benefits of a Malta Gaming License
There are many different benefits for Non UK casino brands to obtain a Malta Gaming license over all others. These include:
- Credibility
The Malta Gaming license holds huge prestige, as being one of the most respected in the world and holds high credibility. By holding a Malta Gaming license and this also pushes high player trust for brands, as they can be sure of a safe and regulated gaming experience provided.
- Industry Positive Environment
Malta is all about iGaming and pushes huge focus around the industry. It is backed up by many of the best and most experienced iGaming workers around the world, so it is a very positive environment for the industry.
- Tax Benefits
Malta’s corporation tax stands at 35% but has a really positive tax credit benefit in place for shareholders. This stands as low as 5%, with a policy in place to ensure it is avoiding double taxation, which we see around the world. This sees over 70 double tax agreements in place around the world, which is why it is such a successful hub for iGaming businesses.
- Access to Global Markets
A Malta Gambling license means full access to markets around the world for operators, apart from in those FATF-blacklisted countries.
How to Maintain a Malta Gaming License
Maintaining a Malta Gaming license to remain a Malta online casino is also important. It can be a rigorous process to maintain compliance, so outside companies can be brought in, in order to keep on top of this and do all the hard work for operators, which is a process that many brands take. These operators will need to regularly conduct a MGA regulatory audit and ensure they are always up to date with the financial and accounting reporting obligations that are in place for brands under the license.
At the Daily Star, our experts have been dedicated to providing the most up to date and accurate online casino advice and reviews. Since our launch in 1978 we have consistently offered expert guidance and relevant news on new online casinos, casino games and software developers. Our long standing commitment ensures you receive the best information to make informed decisions and enjoy a safe gambling experience.
