5.11.2019
During the past years, Malta successfully became the first European Member state to work on a legislation on remote gaming, attracting numerous multinational companies to relocate to Malta, not only to benefit from our favourable tax systems but also to work and gain experience within the ever-growing iGaming sector.
How did they manage to do so? In order to be a remote gaming operator in or from Malta, interested companies should be in possession of a valid license applicable to the relevant class as set out in the Remote Gaming Regulations. If you don’t have a license and are looking into establishing yourself in Malta, there is a thorough process to be followed before being granted one of the four types (classes) of licenses, or multiple classes, available to iGaming businesses operating in and from Malta:
- Potential applications should submit the application to the Malta Gaming Authority (MGA)
- Application should include, among others, a business plan including forecasts, targets and marketing strategies
MGA will then assess whether applicant is fit and proper to conduct the business by doing the following:
- Analyse business plan
- Independent investigations will be undertaken on those involved in finance and management roles
- Examine the constitutional documents of the company and the T&Cs
- Ensure that the minimum required issued share capital has been fully paid up
Applications will be approved for a period of five years once that the MGA has conducted the above procedure; collected and verified all needed information from the potential new operator. After 5 years, licenses can be renewed for a further 5 years.
If you require more information from our professional advisors about iGaming licenses applications, you can get in touch with our Director, Ms. Charlene Sciberras on csciberras@fairwindsmanagement.net
You can also schedule a meeting with us later on this month between 27th and 29th November during SiGMA, which will be held at MFCC, Ta’ Qali. We look forward to meeting you!
