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How to get Maltese gambling license
Land-based and online casinos, like any other type of business, require legalization and official permission. You should obtain a corresponding license in order to ensure the protection of your gambling rights. One of the most profitable and flexible jurisdictions in this area is Malta.
According to Times Malta, the share of gambling business in Maltese GDP is 11%. 270 gambling operators and more than 9,000 international specialists are engaged in this sector.
Advantages of Maltese gambling license
The local authorities have created as convenient gambling operation conditions as possible.
A license of this jurisdiction allows to enter European markets, while an enterprise registered on the island receives the status of the EU international company.
One more advantage: Malta issues a permission for all gambling types (including online and offline segment) as well as allows companies to use tax benefits and high-quality banking services.
Types of Maltese gambling licenses
Depending on the principles of gambling organization, the Malta Gaming Authority grants four types of licenses:
Issued to online casinos focusing on repetitive games. Software for such games should contain a random number generator, in other words such offers are based on a chance.
Aimed at gambling business accepting online bets on certain events. Such a kind of permission is a perfect option for betting shops.
Appropriate for poker rooms, bingo games, betting pools, and betting exchanges. In other words, for gambling where players rely upon their own skills. Businesses earn on game fees, and all the risks are imposed on gamblers.
This certificate is designed for gambling software providers as well as online games and hosting. Software developers earn on fees and do not bare any risks.
Key requirements to get a license
To gain a gambling license in Malta, you should register your company with at least two shareholders. After preparing documents, you should submit an application to the Malta Gaming Authority.
Another significant aspect is a business plan. It should contain information about founders, marketing and financial strategy, gambling equipment features, and game process description. You should also mention financing sources and sales targets for the next three years.
To receive a gambling license in Malta, you should pass several stages of legalization. In average, the Malta Gaming Authority considers applications within three-four weeks. Afterwards, an enterprise obtains a temporary gambling license for six months. A permission for 5 years is granted only after the thorough inspection of organization. It can be extended: you should submit an application for reconsideration at least two months prior to the lapse of license.
License cost and taxes
To obtain a gambling permission in Malta, you should pay several taxes and obligatory payments.
A license fee is €25,000; a request for application processing costs €2,300. License renewal costs €1,500.
The new rules of gambling business taxation in Malta have become effective since January 1. It was a fixed fee earlier. Now, the amount of annual tax depends on the license type and company’s revenues. As to startups, the first year of their operation is not taxed. When it comes to others, there are the regulations given below:
A Maltese gambling license provides a range of preferences. A significant number of operators registered within this island state talk about flexible and convenient conditions for gambling business. Besides, Malta is a member of the EU and gives an access to European markets.