How to get gaming license for gambling business
Malta Gambling License: The Gold Star of Gambling Industry
Malta is a high quality and reputable license provider. This region in itself is known to be a region for the elites and home to many top notch casino owners. Their industry in itself is rewarded as the gold star. Many casinos all around the world go to the Malta Gaming Authority for their supervision and jurisdiction.
Their authority opens their door for anyone. The key things to note is that Malta has a much easier access to things such as bank accounts, tax regulations, and third party sponsors.
Each of the benefits that we are going to discuss today does not come free or cheap. Malta is known to be a bit more costly. Even though it may be costly, Malta online license is still worth it. Malta license also takes a bit more time and a lot of paperwork before it can be acquired.
To get the license, any applicants must meet many requirements such as documents, patience, and sometimes even have meeting. These are all necessary things to do because you are applying a jurisdiction within the European Union.
We do not recommend small businesses or start ups to apply to this license at all. This is because there is a high cost and so many fees. The requirements also makes it hard for new businesses to comply to. If you are just starting, then it will be a very long time until you can start operating.
Usually clients that are advised to apply are the ones who already come from other types of licenses. You can transition easily to expand your profits after getting a Malta license.
Benefits of Malta Gambling License
Malta license gives many benefits not only to the owners of business but also to the general public. This license is a high maintenance license. It takes a lot of cost, but it is worth it for businesses who are already international. Come take a look at what are the benefits of this high quality gambling license.
Malta is a widely and internationally known jurisdiction. Anyone in the world knows this. Which is why when a certain casino holds this license at literally means that they are fully transparent and they are trustworthy.
Usually players are very comfortable when they’re able to find a trustworthy website. It is also true that the European Union have one of the most strict rules amongst all other jurisdictions.
So it can be assumed that if Malta follows the European Union rules it means that they’re safe. There are many forms of investigations and safety nets to make sure that Malta holds its high standards.
What we mean by game friendly is Malta supports all kinds of businesses. Whether you’re still new or you are already an old business. There is a huge amount of Maltese people and European that is working in Malta.
Malta provides many services with high quality after they give their members training. Malta also provide other things such as services which has been a great help to many companies. Whether you are software companies or hardware and etc. Everyone needs a license like Malta.
Malta is very trustworthy. Just having the logo of Malta gambling license alone will make people easily go to your website because people will never be scared again. It’s true that the world of online gambling is very competitive. It is so hard to find players because you are constantly competing with other online casinos.
Ears are most likely to go to Malta websites because they know they can trust this website. Malta has a really good player protection system. If somehow the website tries to check them then Malta will give a full refund as well as conducting investigations. This is what players want when they visit a online casino. No other website is a similar as Malta.
Unique Tax System
Texas and Malta can be a bit more than usual. The taxes in Malta is known as the corporate tax. The number right now is set at around 35%. This may seem a bit high but you need to understand what this tax means. Usually shareholders are going to be given access to tax credit that is the same amount as the amount of taxes that they have paid. You’re going to be given tax credit. Which means that you are able to get around six out of seven of those money back. Malta provides a very effective tax credit in which the only tax left is around 5%. So you can just ignore the 35% and stick to the 5% instead. There are also other types of gaming taxes that are directly taken from the local players. So the ones that have to pay these kinds of taxes are the people that plays in the server from Malta.
Steady and Reputable
Malta jurisdiction has always been active from the early 2000. It is a member of the European Union and this is a very good thing because now we have to support from the European governments. On top of that Malta is also recognized by the British commonwealth. Unlike any other countries who are still small Malta is actually a haven for online casinos. As of right now Malta has a really strong economy as well as good political standing. Which means that there are not much conflicts going on in this country instead there are more innovations. This is the perfect place to conduct all of your business needs. Having stability is everything and you can set agreements to negotiate later on.
Most of the clients that go to Malta for their jurisdiction are for companies. These companies are based elsewhere and sometimes even out of europe. And these kinds of cases then companies have to pay twice. There are different types of taxes such as the country’s tax as well as Malta tax. If you want to pursue taxes and the country’s taxes then this will be very expensive. Malta has partnership with more than 70 different countries and jurisdictions around the world. You can get discounts or even something known as a tax treaty. A tax treaty is basically when an operator does not have to pay double taxes. So all you have to do is pay the 5% tax and that is it.
Gain access to more market
Having a Malta license opens up new opportunities. You’re going to be given free services for example in order to get sponsorships or even to be given new marketing strategies. Your website will even be listed as a legal tender for the Malta jurisdiction. Hands many players from all around the world can start enjoying your games. But note that this is only available for players that are from countries that legalized casino and gambling.
Requirements to get a Malta gambling license
Applying for a Malta license is not as easy as anyone thinks. This process is very detailed and it requires so much more attention in comparison to other types of jurisdictions. We have mentioned to you before that multi is very prestigious. Hence it also requires heavy checks as well as requirements. Sometimes they also ask you information randomly and which you are required to provide.
In the year of 2018, Malta provided two types of licenses. You can get more licenses but one of the main license that they offer is called the b2b. The B2B license is an offline casino license and this is the major requirement. But nowadays people are looking for the b2c license. The b2c license is a license that will cost more but then you are also given the freedom to get more money. This license will last for around 5 to 10 years depending on how much you want it to be. The b2c license is exclusive only for online casinos and gambling.
As of today there are already in regulations such as the one that happened in October 2021. There may be other types of changes in the future so you need to keep in mind about all of these changes.
Basic requirements to apply for a Malta gambling license
As you know applying to the Malta jurisdiction for a license is complicated. You need to provide the proper documentation for all stakeholders.
- Each document must also be given by all of the owners and stakeholder. Let’s look at some of the documents that you need to provide down below:
- First you need a letter or certificate of good conduct that comes from your local police station
- A certification for fit and healthy
- Provide people and members to attend to meetings. These individuals must be able to function as various roles of the company such as CEO, COO, or even the lower ranks. There are alternatives if this cannot be provided
- Original bank statements of all the stake holders
- Full business plan
- Signature of documents regarding audit
- All details regarding the softwares and fair play agreements
- Server ownership in Malta
Keep in mind that all of these documents must be as recent up to 3 months old. All documents must be submitted in English.
Process of Applying for License at Malta
There are different types of regulations and requirements that you need to obey when you are trying to apply in Malta. This next step is not easy but it sure will be very worth it. The process needs for you to submit all of the paperworks above. But that is not it because the process may sometimes take more paperwork than expected. If that is the case then you need to submit all of the paperwork needed and you may even be called for sudden meetings. All of this process takes around 30 to 50 weeks and it may even be longer than that. But also there may be a chance that it is actually quicker so it depends on the paperwork that you have submitted. Don’t forget that there are lots of meetings that you need to conduct with the Malta authorities.
In order to start completing your application process then you need to pass through the pre-application process. The pre-application process is done by having a first meeting with the officer from The Malta commission. After that your information as well as documents must already be gathered and completed. All you need to do is to wait because it will be up to the authority to evaluate all of the documents. Your documents will be examined as well as put up to the Malta gambling commissions standards. If it is up to the standards then you’re going to get your license in no time.
Fit and proper test is one of the most important tests that you cannot find in other types of jurisdictions. All of the applicants as well as the registers must be able to operate a gambling company. For example the business owners will be tested for many different things. These tests will be conducted the street by the Malta gambling commission and the authorities. This test is called the fit and proper test. It examines how your company works and if you’re able and capable to operate. The test will also examine a few things such as budgeting, corporate structure, and your business strategy.
This specific test requires all of the applicants to actually go to Malta for a face to face meeting. This next step is actually one of the most hardest step in applying for the Malta license. There are lots of laws and regulations that you need to understand before you can actually apply for this test. This is to the fact that they already comply with all of the laws that comes from foreign countries.
Evaluating Finance and Business Strategy
Applying for a Maltese license means that there is lots of investigations as well as examination. The investigation that we’re talking about does not mean that you you will be guilty of something. But instead they will conduct an investigation to analyze your company’s financial plans. For example how much money you’re going to provide to certain types of funding and how much will you get back in return. This is all part of the application process. To get the Malta gaming license then they want to make sure that all of you are money is already in the right place. They will also do a risk assessment of the short-term and long-term results. Sectors such as marketing, software providers, performance, targets will all be analyzed properly. There are also analysis towards things such as what types of games you provide and etc.
Applicants must also be able to provide a full on business plan that explains their company. Most gambling company will have partnerships with gaming software companies and all of the games that are hosted. All of the service must be located only in the jurisdiction of Malta and you cannot have any foreign countries. This is one of the requirements of gaining the gambling license.
You need to provide 4,000 EUR or up to 240,000 EUR depending on the company’s status. Bigger companies will have to pay a lot more as well as depending on the games that they offer. More games basically means that you pay much more for your license.
Due diligence is another form of test that is going to be given to the applicants. Due diligence is basically a form of check in which they will make sure that all of your data and identity is true. You can learn more later by contacting a license provider.
Representatives from Your Company
We’ve told to you before that in order to have a license in Malta then you need to have a server as well as lots of meetings. On top of that you must also have a registered office physically situated in malta. This is quite simple because all you need to do is at least have one director and a secretary. On top of that you will be given the due diligence test as well as the fit and proper test. Which means that this position needs to be filled by a couple of people only that can function in many ways.
This process becomes complicated since October 2021. Because now there’s only a certain amount of people that is allowed to be representatives from these companies. There are new requirements that you need to understand. Such as only high ranking individuals are allowed to represent their company.
Audit and System Review
Malta gaming authority does an in-depth check regarding your website and how it operates. Each and every game and your software will also be examined properly by the malta gaming authority. In order for you to start providing games to the public then there is an audit. The audit will be random and they will check your website in a technical situation. Your website will have to go through a trial period of 60 days. And this time, the website will be active for 60 days as if it is already functioning. And the players themselves will come straightly from the malta gaming authority to test each and every one of your games.
All of you 60 days will be the measuring bar on whether or not your company gets a license. During all of these 60 days you are going to wait for the authorities. The authority is going to compare a few things. The things that will be the focus of these examinations are the business plan and the application itself. If your business plan and the website matches then you have no problem at all.
On top of that the audit will be carried and done by the platform itself. This audit is different because it will be done right after the system review.
You’ve completed some of the most complicated process and now it is time for the license. Issuing a license is only guaranteed after you have to pay all of the fees and cost. With mentioned to you a couple of numbers before but then it could lead up to a half million euros. You also need to pay renewal fees as well as contracts to sign. All of these will keep on going but renewal fees are not as expensive as the application fee.
Cost of Malta Gambling License
The Malta gambling license can be cheap and expensive at the same time. Malta is regulated under the European Union. That is why the cost is much higher in comparison to other countries. This license is perfect and tailored for companies that are already thriving. Such as operators that are already famous and have millions of dollars to invest. The license from Malta is best to get because you can get so many additional benefits. This benefit of course comes with the price tag. You can choose either ways and there are many licenses to try.
Business owners need to prepare the appropriate budget before they apply for a license. Without the money, then you are unable to get the proper license and process. Do not forget that there will be additional costs to pay such as corporate fees, document fees, offshore accounts, and etc. All of this takes time to process. You may also need to hire your own personal audit before being audited by Malta.
Different companies will need different things. Some companies have different visions and the game that they offer is also different. Try looking for a service provider that will help you apply for a license. These services are very effective to give useful advises. Having additional support can really benefit the transition to owning your first Malta license. Look for companies like Fast Offshore for the best planning and consultation.
Malta Gambling Turn Key Package
Service providers will help you with many different services. One of the packages that are offered to the players is called as the Turn Key Package. Provider will help all of their clients to obtain a gambling license. This is usually a long process. That is why having a provider is very important.
The turn key package makes everything so much cheaper and so affordable. The license for Malta online casino will take a long process. There are even face to face meetings that you have to attend. Through these packages, you will be given things such as consultation and guidance. Which will be extremely important. Without these consultation, then you are going to face many troubles. Let us look at what you can get from the Turn Key Package.
What does Malta Gambling License Offer?
- Corporate company in Malta
- Registered and licensed office and secretary
- Complete business plan
- Corporate structure
- Help with all the requirement in registering for application
- Apply and get help for the B2B and B2C Malta license
- Support to get sponsors and payment partners such as Visa and Mastercard
- Assistance after license is obtained
Active Maintenance for Malta Gambling License
Malta gambling license is the gateway to get your online casino up and running. But what happens then? Well getting a license in itself is not enough. Because there will be many work that comes with it. To keep your license safe then you also need to have maintenance. Maintenance is a responsibility that must be fulfilled by the huge companies. You can get maintenance from providers and then make sure that everything is up and running. Malta will also check in on your company to make sure that it is still safe.
You need to make sure that your services are always true to the business plan. If there are any changes as well as negative ones, then you are going to be investigated. Use business plans that are given by the turn key package to make it easy.
Taxes in Malta Gambling License
Malta gets around 35% of the corporate tax. But the real tax is only below 5%. You do not have to pay all of the 35% when applying for a license in Malta. There are many different cases in which a company have to pay different amount of taxes. You are going to be given tax credit which is basically a reimbursement of your money. If you pay around 35% in taxes, then the 30% will be given back to you.
Maltese government also adds additional tax specifically only for players who come from Malta. If you are from Malta, then you are going to need to pay 5% tax. This is because the players come from their own jurisdiction.
Malta Gambling Authority
The Malta Gambling Authority is an important jurisdiction in the world of online gambling. They have been successful since the year of 2001. Up this date, any client can issue, renew, and even cancel their license at any time. Malta Authority gives their clients the freedom to do so. You can choose between B2C and B2B online licenses.
This Authority is already trusted and it is one of the only regulators that make their own regulations. They are an authority that constantly changes their laws and adapt to the current market. Maybe the taxes will be lower. Today, the Malta Gaming Authority produces a revenue of around 12% of the country’s income. Hence making the industry always booming and new clients coming in every day.
Malta is very favorable because they are not stagnant. They create new rules to support different types of innovations. These kinds of innovations may be technological advancements. Such as casino, e-sports betting, cryptocurrency deposit and etc. They adapt all kinds of methods and then allow it to their clients. Many people go to Malta because of this.
Malta is also one of the first jurisdiction that support crypto casinos. They are opening applications specifically for casinos that want to operate using cryptocurrency. To do this, MGA or Malta Gambling Authority has created their new regulations.
Malta also ensures that games are still within fair play. All games need to be protected from minors. There were many regulators out there but the safest one is known as Malta. MGA requires business owners to keep looking and observing their website. So that no underage kids will enter the online casinos.
Malta Gambling Authority is a trusted jurisdiction because they do not operate money laundering. As a matter of fact, MGA also helped in many crack downs. All casino fraud and money laundering will automatically be investigated by MGA. Malta Gambling Authority is able to find the red flags. So do not try to cheat the system that has been set by MGA. Because they have over 20 years of experience with also catching fraud.
Why is Malta The Best Options for Mega Casinos?
Mega casinos are already developed and it is perfect for an expensive license. Malta gambling license takes time and effort. You need to constantly invest effort into this license to keep it up. This is the end goal license.
There are many gambling companies that go to Malta. This is because they are able to get better protection, more sponsor opportunities, and more deals. The market is also opened exclusively to all the European players. This is due to the fact that MGA is under the European Union.
The Malta jurisdiction is offered to many casinos. Many casinos are eligible to apply especially for the B2B license. You could also switch jurisdiction to Malta. Many people start off with Kahnawake or even Curacao. After that, you can contact provider to get the necessary help. Malta will give cheaper price for transitions to their license. Because you are already an established website and you already have a good business plan. All you need to do is a better license to grow your business. Feel free to try Malta license.