Malta Gaming License
Malta is an island country in Europe that grants online casino licenses with low taxes. Here is the secret of the popularity of Malta among the owners of gambling clubs: it has excellent tax legislation, loyal conditions, and a whole ocean of prospects.
Malta has been issuing online casino licenses since 2000 and is a pioneer in this field. Today, this jurisdiction is considered to be reliable and authoritative, and many operators are trying to get a work permit in Malta.
If you are considering options for obtaining a license, it will be a good decision to sign up for a consultation with the managers from Gaminator. They will help you to understand the differences between various jurisdictions and choose the one that is perfect for your gambling project. Sign up right now!
A Review of the Malta Gaming License and its Advantages
Malta is a member of the European Union and, on the legislative level, has fixed criteria for the provision of services to clients. In the case of gambling clubs, these are: focus on the interests of gamblers, resolution of every issue that arises, and provision of the data protection of the highest level.
This is one of the reasons why players trust gambling clubs that have the Malta gaming license and feel safe to deposit money to such websites. But, of course, the jurisdiction still has more advantages.
Why Getting a Permit in Malta is Worth it:
- Malta is a member of the EU, and it gives operators from different countries many opportunities for their business: for example, there will be no difficulties in opening bank accounts, it will be easier to negotiate with partners, work with clients from all over the world, etc.;
- the Malta gaming license is recognised by all other EU members;
- excellent taxation system;
- the presence of a European license allows you to connect to a direct Merchant Account and process credit cards on the Web;
- business is under the protection of the government!
We would like to add that the list of the world's largest online casinos includes companies that operate under the Maltese permit, which is already a good reason to decide on this particular jurisdiction.
Types of Permits for Online Casinos in Malta
Some jurisdictions issue single licenses for all types of gambling activities. But Malta has its own special feature in this matter. Here, gaming regulations provide for the issuance one of four types of permits, depending on what exactly you are planning to do.
Categories of Maltese gambling licenses:
- Licenses for operators of online clubs that use a random number generator: online casinos, lotteries, slot machines, etc.
- Permits for bookmaker’s offices.
- Licenses for promotional agencies, poker networks, and exchange rates.
- Permits for gambling software vendors that produce gaming platforms, payment solutions, and security systems for the gambling business.
We recommend you to decide in advance on your future plans and file the necessary applications in order to avoid the need to obtain another license.
Conditions for the Acquisition of the Malta Gaming License
In any country, casino licensing is a rather complicated process, and in such a serious and respected jurisdiction as Malta, it is necessary to have a strong background.
Operators from countries listed under the Malta gaming license has to meet the following requirements:
- registration of a company in Malta;
- submission of a package of documents for each shareholder that owns more than 5% of the shares, as well as for the whole management team: copies of passports, bank statements, reference letters, resumes, etc. ― all that can be used to create a financial portrait of the participants;
- confirmed availability of technical and financial resources for conducting activities in the gaming sector;
- availability of the authorised share capital: from one hundred thousand euro for the first and the second class, and from forty thousand euro for the third and the fourth;
- drawing up a detailed business plan.
Malta is one of the few jurisdictions that are really interested in developing new business. Therefore, in Malta, a permit cannot be issued without a clear and well-developed business plan. We have decided to tell you in more detail about the requirements for drawing up this document since its validity can also be checked.
The business plan should contain:
- The description of the goals of a future gambling project.
- An approximate period when the project will pay off.
- Business models for income generation.
- The description of the structure of a company, job responsibilities, staff that needs to be involved, and the cost of its services.
- The list of software, which is necessary for a successful operation of the casino.
- The amount of money that is planned to be invested in the project and the proof of the legality of these funds.
- The description of a marketing strategy.
Summarising the above, we can say that the business plan should fairly present the prospects of your future business.
As our experience shows, the Malta gaming license is issued to organisations with a strong business background and ambitious plans. So, it is exactly the business plan that can be essential to the commission.
Stages of Casino Licensing in the Jurisdiction of Malta
Submission of a package of documents to the MGA (Malta Gaming Authority), which includes a written application with a request for a permit, a business plan, information on founders and managers of the company, and other documents.
The commission analyses a business plan, the history of the founders, their characteristics, and the motivation for starting a business in Malta. If additional documents are not required, the stage is completed in two or three weeks.
The registration of a company in Malta and opening accounts in banking institutions.
At this stage, the technical aspect of the project is been checked: operating principles, the used software, data transfer schemes, etc. After verification, a temporary work permit is issued for a period of six months (with a possible extension for three more months).
During this time, an operator has to start carrying out his activity and be prepared for the audit. The second stage lasts on average from twelve to sixteen weeks.
The audit by an MGA specialist who keeps an eye on the development of the project during the period when the operator has a temporary license. In case of successful completion of the audit, a permit is issued for five years. Please remember that the regulator may prescribe additional conditions for work or a subsequent renewal of the document.
How to Obtain the Malta Gaming License?
If you have not faced the need to obtain a permit before, it will definitely be better for you to ask for the help of a more experienced partner. The Gaminator company offers you support during the entire licensing period.
We will answer all your questions including the Malta gaming license cost, deal with the preparation of documents, their translation, certification, and submission.
In addition, we will be happy to help you to create an online casino from scratch: together, we will select a gaming platform, the necessary software, and payment solutions. From us, it is also possible to rent a casino or purchase it on a turnkey basis. Entrust the development of your business to Gaminator.
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