Obtaining gambling license in Malta
Operators who have obtained a gambling license are highly trusted. One of the most attractive jurisdictions is Malta. There is very detailed regulation and a number of requirements must be met in order to obtain a license. You can read about these requirements and the process of obtaining a license in our article.
Table of Contents:
- Why choose Malta for a gambling license?
- What types of gambling licenses exist in Malta?
- The procedure for obtaining a gambling license in Malta
- Requirements for obtaining a gaming license in Malta
Why choose Malta for obtaining a gambling license?
There are several jurisdictions that have advantages for obtaining gambling license (Isle of Man, Curacao), Malta is one of them.
- Malta is part of the European Union. Operator, who has received Maltese license, has access to the rest of the EU.
- Malta Remote Gaming Council - a body that represents the interests of operators in this industry. They are actively involved in development of rules. Malta is developing a dialogue between the regulator and operators.
- Maltese license has a high status in the European market. It is also popular among players: some specifically look for the Maltese logo on the websites of operators, as the Maltese license is an indicator of reliability.
What types of gambling licenses exist in Malta?
First, licenses differ depending on the entity to which the services will be provided:
- B2C - Gaming service license. Offer gambling services by providing the user with a gaming device or gaming system;
- B2B - Critical gaming supply license. Offer and manage elements of the game, offer software.
Then, decide on the type of license under B2C:
Type 1. Games with random results. This includes casinos, roulette, lottery.
Type 2. Games with result derived from random events. For example, sports betting.
In the first two types, the player participates against the house.
Type 3. In this case, participants play against each other. The operator does not determine the risk, but takes a fee depending on the bet or prize. For example, poker, bingo, etc.
Type 4. Games with predictable outcome.
The procedure for obtaining a gambling license in Malta
Step 1. Verification of the applicant. Directors and beneficiaries are subject to a fit and proper test. In regard to these persons brief biography, references from partners and other documents should be attached. To check this the watchdog uses the data provided by national and international law enforcement agencies.
Step 2: Business Plan Verification. The applicant must prepare a detailed business plan that includes:
- Deep financial analysis
- Marketing strategy
- Profit allocation plan
- HR plan
- The company's development goals.
Step 3. Document Verification. At this step, the regulator checks your documents for compliance with legal requirements. Therefore, he needs to provide:
- Corporate documents (Articles of Incorporation)
- User agreement
- Policies (e.g. privacy policy)
- Technical papers.
Step 4: Software Audit. At this step, you grant the authority access to the software itself. It audits it, usually for no more than 60 days. The software implemented must be consistent with the application submitted in the early stages. Any change requires new application. Only after this stage license is issued. This license is valid for 5 years.
Step 5. Compliance audit. This audit is already in progress. If the company receives a requirement from the authority to conduct an audit, it is obliged to do it within 90 days. The mandatory audit takes place after the first year of operation, the following can be scheduled by the watchdog.
Fees for obtaining a gambling license in Malta
A mandatory condition for applying for a gaming license is the payment of fees:
- EUR 5,000 for the application;
- For the 1st stage – EUR 2,500;
- For the 4th step – EUR 3,500;
- For the 5th step – EUR 4,500;
- Annual fee for B2C - EUR 25,000;
- Annual fee for B2B – EUR 25,000.
Requirements for obtaining a gambling license in Malta
Capital requirements to obtain a gambling license in Malta
In order to obtain gambling license, there are minimum share capital requirements. They depend on the type of license, which plans to get a company:
- For the first and second type – EUR 100,000;
- For the third and fourth type – EUR 40,000;
- For B2B – EUR 40,000;
- If company receives more than one type of license at the same time, the minimum capital requirements are summed up.
Requirements for the founder and director to obtain a gaming license in Malta
Key official means person who performs a number of main functions. He is also the executive officer. He is responsible for compliance with the requirements of the license, financial and legal aspects of business, protection of personal data, etc. The key functions are also technical: player support, game management, technical support. These functions can be divided among several persons. When submitting the application, it is necessary to specify the one or several individuals who will perform these functions.
Thus, a Maltese license has a number of advantages. The process of obtaining a license consists of three stages: the first is the verification of documents, the second and the third is the verification of the system. In order to obtain a license, it is necessary to comply with very strict requirements. Therefore, special attention should be paid to drafting documents, in particular a business plan. Our team of lawyers will help draw up all the papers and obtain a gambling license in Malta, enhancing the reputation of your business.
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