Malta Gaming License Gambling Industry Gold Star Fast Offshore
Malta Gaming License: Gambling Industry Gold Star
Malta gaming license is a yellow stereotype in the industry. World-renowned platforms operating under the supervision of the Malta Gaming Authority will find many doors for it. It will still be easier to disclose bank accounts, enter into third-party agreements and make proposals to overseas customers.
But all these good qualities must be paid for. The process of obtaining a Malta license for online gambling is long, expensive and difficult. To get the permit, the applicant must patiently prepare, preparing many documents and attending face-to-face meetings with the regulator's advocates. But it is worth it if you are a big gambling company or a perfect showing of a brand looking for a home in the EU.
Fast Offshore usually does not recommend Malta online gaming permits to start-ups and businessmen. The reason is the high price, the many demands and the lengthy procedure. As a rule, we help clients who have already entered and profited from Malta, but want to enter new markets and take advantage of additional payments.
Benefits of the Malta Gaming License
Malta online license includes a whole range of advantages. Not to mention that getting a license to gamble in Malta, for example, is not expensive, but for some operators, this is worth it. Here are some of the advantages that a license, the gold standard in the Igaming industry, has.
Prestige
Malta gambling licenses are among the most respected in the world. The existence of such a license is basically a vote of confidence that the operator is seen as transparent, objective, conscientious, and working in harmony with EU regulations. If an operator obtains a Malta gambling license, it means that they have actually conducted a certain number of strict, rigorous and meticulous checks and balance sheets.
Gaming Friendly
Gambling is considered an important part of the Maltese economy, so Maltese workers are best qualified and skilled to work in the gambling sector. There is a huge workforce of Maltese and European English speaking workers (with knowledge of other major European languages as well). Malta is also considered home to a large number of gaming providers, including software, hardware, partnerships, marketing, data, and advertising.
Player Trust
Displaying a Maltese license to gamble on your platform will give players great confidence. In a competitive market, it is very important to gain and keep customer confidence. Confidence in a Maltese gambling license is due to the high level of player protection and strict control mechanisms offered by the Maltese gambling sector. In addition, high standards are applied here to combat money laundering, which is fully consistent with all applicable EU laws.
Tax Benefits
Malta has a corporate tax rate of 35%, but has a full taxation regime. This means that shareholders can receive a tax credit equivalent to the tax paid from profits on which dividends are paid. The most common tax credit is the 6th/7th part, which in some circumstances can result in an effective tax rate of just 5%.
There is also a gambling tax, which is levied on income from gambling received from players in Malta. This rate is 5% and depends on whether the player is a resident of Malta or not.
Stable
Since 2004, Malta has been a full member of the EU and is also part of the Commonwealth of Nations. It is a very stable society, both socially and politically. Economically, Malta has a stable and strong economy, driven by technology, financial services and innovation. We also know that the Maltese government welcomes business and provides the right regulatory environment for technology-related companies.
Double Taxation Treaties
The Maltese government is a party to over 70 agreements to avoid double taxation with various countries and territories around the world. In addition, we are actively seeking to enter into many more agreements for the mutual benefit of the citizens of these countries. This means that operators who hold a Maltese online gambling license do not have to pay taxes in that country.
Access to More Markets
Malta-licensed online gaming operators are free to offer their services in various jurisdictions. However, they are prohibited from offering gambling to customers from countries that are on the FATF blacklist, or where online gambling is prohibited or where a local license is required. Operators are expected to adhere to these rules and are monitored to ensure this.
Malta Gaming License Requirements
The gaming license application procedure in Malta is strict and thorough than many other laws. This is because such a license is considered to be very authoritative, so it is necessary to perform appropriate checks and processes. This section provides information on the requirements for Malta's online gaming license, but keep in mind that the Malta Gambling Agency may require more detailed information on a cas e-b y-case basis.
In 2018, the Malta Gambling Agency significantly simplified the application procedure. This was performed by abolishing multiple license types and providing only B2B licenses and B2C licenses. You no longer need to apply for different licenses depending on the games and services you want to provide. You can freely expand the service portfolio as you grow without applying for an additional license. In addition, the license's validity period was extended from 5 to 10 years. If you want to provide an online game, you need to apply for a B2C license.
In October 2021, MGA introduced many changes to gambling licenses and compliance orders to simplify the gaming license application process. These changes mainly affect the main functional role that the operator must assign.
Basic Requirements for a Malta Gambling License:
The following are standard requirements that all applicants must meet. Each executive, authority, shareholder, director, beneficiary owner or beneficiaries must submit the following documents:
- Police certificates within three months for each company owner and applicant.
- Passing "Aptitude / Appropriate Test".
- Ability to carry out various major duties in the company. If you can't do this at the time of application, Fast Offshore can provide team members to perform these tasks.
- Owner / Applier's Bank Interact Book Book Book (Date within 3 months)
- Notary copy of all owners / applicants' passport
- Detailed business plan
- Compliance and software audit
- Details of all the game software used and contract with third party
- All management servers and game servers must be installed in Malta.
Not e-All documents must be created in English and within 90 days. If the documents are not English, you need to translate into English. |
Malta Gaming License Application Process
If you are convinced that you can meet all the requests, the next step is to start the ordering process. But getting a gambling license in Malta is not so easy. There are many steps in the procedure, and you need to create a large number of documents and support experts.
If all documents are ready and all meetings are held as scheduled, all processes will take 30 to 50 months.
The first step in the process is to complete the preparation procedure to submit an order to the Malta Gambling staff. After this process is successfully completed and all information and documents are collected, the authorities determine whether they can accept them and continue the process. Authorities will make an effort to determine whether the applicant is ready to carry out online gambling activities in line with its stereotypes and expectations.
Fit and Proper Test
The applicant is ready to operate the online gambling business and proves that it meets Malta's gaming license requirements. To satisfy this request, the Malta Gambling Agency has set a "aptitude and aptitude test" to take into account both the applicant and the owner of the corporation. The test reveals whether they are ready to run such a family business and whether they have an appropriate strategy.
Part of this process includes the absolute evaluation of the career, qualifications, and skills of each employee in addition to personal interviews. Currently, intensive tests are being conducted. And the authorities determine whether the individual meets the operation and legal requirements stipulated in Malta's gambling law and policy. Furthermore, at this stage, various surveys are being conducted under the role of national, international law execution agencies, and various regulatory organizations.
Financial and Business Evaluation
Malta Gaming Authority conducts a detailed economic test for business plans submitted as part of the order submission process. In order to obtain a gaming license in Malta, the authorities want to confirm that all financial characteristics are in place, and that the project is financially executed in both short and lon g-term. Examine all intent nuances, such as marketing, personnel, lifting, distribution, and various other performance characteristics and goals. What kind of games will be provided, business processes, politicians, standards, and all technical documents will be carefully examined at this point in the process.
The business plan also needs to include detailed information about the specifications of the entire game software and the location of data and software. To meet the requirements for Malta's online gaming license, all hostings and servers must be in Malta.
Corporation must have a published public approval for € 240. 000 to at least € 40. 00. 000, depending on the applicant's situation.
Due Diligence
Those who participate in the application process or those who are considered the applicant must check the reliability check. The applicant must submit documents to confirm their identity, address, and fund source. The following provides more detailed information about checks that require fast offshore.
Registered Office and Company Representatives
A company registered in Malta to get a Malta gaming license must have a registered office in Malta. The company must have one director and corporate secretary who must be checked for MGA requirements. Organizations need other important positions.
Since October 2021, Malta's gambling department has partially changed the criteria and requirements for important people to simplify the application process. The following are new requirements and duty to play a specific role.
System Review and Compliance Audit
Before obtaining a launch license, Malta's gambling operators must receive system check and compliance audits in the technical environment. As part of the application process, you will be invited to start work in this management environment and a 6 0-day grace.
In the 60 days, the applicant must request an external system assessment. In this assessment, the "actual work" environment is audited and compared with the proposal proposed in the business plan or application. If the real environment is significantly different from the originally proposed proposal, the entire application process must be restored from zero.
In addition, you need to audit the gambling online platform and organization compliance. The criteria for this audit are determined by MGA and local law. The conformity to the requirements is checked regularly during the audit, and according to the MGA request during the license period. < SPAN> Business Plan also needs to include detailed information on the specifications of the entire game software and the location of data and software. To meet the requirements for Malta's online gaming license, all hostings and servers must be in Malta.
Issuance of License
Corporation must have a published public approval for € 240. 000 to at least € 40. 00. 000, depending on the applicant's situation.
Malta Gaming License Cost
Those who participate in the application process or those who are considered the applicant must check the reliability check. The applicant must submit documents to confirm their identity, address, and fund source. The following provides more detailed information about checks that require fast offshore.
A company registered in Malta to get a Malta gaming license must have a registered office in Malta. The company must have one director and corporate secretary who must be checked for MGA requirements. Organizations need other important positions.
Since October 2021, Malta's gambling department has partially changed the criteria and requirements for important people to simplify the application process. The following are new requirements and duty to play a specific role.
Before obtaining a launch license, Malta's gambling operators must receive system check and compliance audits in the technical environment. As part of the application process, you will be invited to start work in this management environment and a 6 0-day grace.
Malta Gaming License Turnkey Package
In the 60 days, the applicant must request an external system assessment. In this assessment, the "actual work" environment is audited and compared with the proposal proposed in the business plan or application. If the real environment is significantly different from the originally proposed proposal, the entire application process must be restored from zero.
In addition, you need to audit the gambling online platform and organization compliance. The criteria for this audit are determined by MGA and local law. The conformity to the requirements is checked regularly during the audit, and according to the MGA request during the license period. The business plan also needs to include detailed information about the specifications of the entire game software and the location of data and software. To meet the requirements for Malta's online gaming license, all hostings and servers must be in Malta.
Corporation must have a published public approval for € 240. 000 to at least € 40. 00. 000, depending on the applicant's situation.
What does the Malta Gaming License Turnkey Package Include?
Those who participate in the application process or those who are considered the applicant must check the reliability check. The applicant must submit documents to confirm their identity, address, and fund source. The following provides more detailed information about checks that require fast offshore.
- Since October 2021, Malta's gambling department has partially changed the criteria and requirements for important people to simplify the application process. The following are new requirements and duty to play a specific role.
- In the 60 days, the applicant must request an external system assessment. In this assessment, the "actual work" environment is audited and compared with the proposal proposed in the business plan or application. If the real environment is very different from the originally proposed proposal, the entire application process must be redone from zero.
- Then, the Maltese gambling sector is implemented by 3, the ability to grant a Maltese license to conduct gambling, as in all these steps. Before they issue the license, all costs and fees must be paid in full for the MGA and the organization that can assist with the submission of the order. Then, the extension of the license will again require renewal costs and the fulfillment of current commitments.
- In order to obtain a license, set up a company and receive other collective offers, you need to prepare what is really involved. Other costs include payments for registration, preparation of documents, inventing a bank account, setting up a payment system, paying for proposals, and costs related to audits.
- Not only do we support you with the order and recommend you to obtain the license during the submission, but we also register your company and search for the corporate account. Apart from that, we will support you in every step of the production: planning, software, negotiations with third parties, etc. Tell us your vision and your wishes.
- The application process for a Malta online gambling license is very complex and can take more than six weeks. Please keep in mind that the Malta Gaming Authority may request a face-to-face meeting with the applicant and ask for additional documentation, which can further delay the process.
- Fast Offshore's turnkey Malta gaming license package includes:
- Malta legal entity
- Registered office, agent and secretary
Ongoing Maintenance for your Malta Gambling License
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Taxes
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The Malta Gaming Authority
Application for Malta online gambling license B2C or B2B
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Business account creation assistance for companies
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Account creation assistance for Visa & amp; Amp; Master Card for online gaming operators
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Personal advice: Rest assured that you will receive expert support for the next 12 months.
However, obtaining a Malta online gambling license is not the end of the road. Ongoing service and ensuring ongoing compliance are essential to maintain your MGA reputation. You also need to consider general accounting and operational issues as well as business and tax liabilities. Maintenance is essential and time consuming.
Why is Malta Great for Well Established Operators?
We strive to build a strong relationship with customers based on trust, transparency and efficiency. Thanks to that, we trust our business, companies, and recognized problems.
Fast Offshore provides customers a economically effective and integrated service package based on all the duty and requirements that should be considered continuously.
All 35%of corporate taxes are levied on all Malt a-based companies. Malta adopts a complete deduction system, so depending on the situation, the effective tax rate can be up to 5%.
The 35 % tax rate is paid from all the income of the company. Later, the dividend paid to shareholders is imposed of tax deduction from income paid. The most common tax deduction rate is 6/7%, which is about 5%of the payment. At this tax rate, Malta is one of the lowest corporate tax rates in the European Union.
Each case is individual, and accurate numbers can only be called after a thorough evaluation of the business. Fast Offshore provides the necessary information and evaluates the effective tax rate that can be paid from the income of Malta corporations engaged in online games.
Contact Fast Offshore to Get Your Malta Gaming License
In addition, the Malta government collects gambling tax from players in Malta. This tax rate is set to 5 %, and only B2C Licensei is paid. It is not taxed on income from foreign players. Gambling taxes in Malta are only subject to B2C license.