Any business should be legal and work under a special permit. And the casino area is not an exception.
Taking into account the strict gaming regulations and the ban on the organisation and provision of such services in many countries, businessmen have found the best way out of this situation ― acquisition of a permit in foreign jurisdictions with a loyal control policy over the gaming sector.
Thanks to a special licensing system, gambling platforms become absolutely official, they get the respect of partners and players’ trust. A permit opens up many opportunities for the expansion of the spheres of influence and entrance to the worldwide markets.
Malta is a famous jurisdiction where many casino owners get a license. More detailed data on how to register a casino can be received from Smart Money. Its specialists will not only provide you with the relevant data and legal counselling but also help you to register a firm.
The Republic of Malta is a neutral territory, which was a colony of Great Britain. It has been in the European Union since 2004 and is a recognised member of the British Commonwealth.
The island state with a population of over three hundred eighty thousand people is the biggest and very famous jurisdiction in the field of casino licensing, which started its activity in 2000. A complete reorganisation of the regulatory system took place in 2004.
The controlling body, which is authorised to issue permits, is The Malta Lotteries and Gaming Authority.
After rules for controlling gambling activities were reorganised, the jurisdiction offers operators four classes of permits:
- A permit of the first class is granted to the organisers of games with repetitive events. The key aspect here is the presence of software solutions with the RNG (when the outcome of games does not depend on the actions of users, and the risks are managed by the gambling club).
- A permit of the second class is given to operators who provide betting services (online betting on sports events, online betting shops).
- The Malta gaming license of the third class grants the right to organise games, in which all responsibility for winning lies on gamblers. Operators bear no financial risks, and the company's income is made of a percentage of the game. Such a permit also provides you with an opportunity to organise the exchange of bets. Establishments that operate under this kind of permit are betting exchanges, bingo halls, poker rooms, and various kinds of pari-mutuel betting.
- A permit of the fourth class can be obtained by providers of software solutions and hosting services. Development companies and intermediaries that support the operation of a casino platform do not bear financial risks, and their income consists of commission fees.
Each of the permits that were described above is valid for five years.
The Malta gaming license cost (the cost of filing an application) is two thousand three hundred thirty euro. The audit procedure costs one thousand seven hundred seventy euro. Also, holders of licenses of the first, second, and third class have to pay deductions in the amount of eight thousand five hundred euro annually.
Besides, the Malta gambling license cost includes a flat-sum tax on the income from gambling activities, which is 35% of the profit. If shareholders of the project can fill up 6/7 of the tax levy, the rate is no more than 5%.
We would like to bring to your notice the key aspects of the taxation system:
- The amount of fees for the first category is four thousand six hundred euro in the first six months since the website was launched. Subsequently, owners are obliged to pay 7000 euro.
- In the second category, the fee is 0,5% of the accepted bets.
- Operators with a third-class permit should pay 5% of the net profit.
- A permit of the fourth class is tax-free during the first six months. Another half of the year, the size of deductions is 2330 euro. From the thirteenth month onwards, the monthly fee is four thousand six hundred sixty euro.
If a licensee wants his company to work in Malta, he should adhere to the number of rules.
Among the necessary steps, we can name the registration within the country and the presence of at least two shareholders.
The procedure itself consists of these stages: registration of a firm, the collection of necessary documents, the opening of a bank account, and filing of a petition with the Gambling Office of the chosen country. The review process may take about one month. After passing the first inspection, operators can start working under a temporary permit that is valid for six months. To grant another one, for five years, the authorised body needs to check the company more carefully.
To renew a license, a new application is filed, which must be sent at least two months before the expiration date of the current permit.
If they are filed together with a full package of the related information, the application will be considered much sooner. This application form has been in force since 2011. Among the documents, we can name copies of birth certificates and passports of all related parties, a document that confirms a clean record, financial letter of reference, a resume, and a declaration, the form of which is established by the supervisory authority.
If firm-shareholders are non-residents, a list of documents additionally includes a corporation certificate, a charter with the data on shareholders and the board of directors, a record with the secretary’s signature and confirmation of the ownership right of an operator, as well as financial and professional recommendations.
Moreover, it is extremely important to provide a business plan. It should consist of goals of the firm, a structure with a description of the job of all interested parties and hired staff, a description of the kind of gambling, a business model with the description of the system to control profit, a review of software solutions, a three-year strategy for the marketing promotion and sales with financial calculations and the expected reporting.
If everything went perfectly, clients get sixty calendar days for the closed launch of the system and a full audit of the site (it is carried out by enterprises approved by the Malta Gaming Commission). External audit services are paid for additionally.
All documents should be in English.
This permit means favourable conditions with loyal legislative and tax systems, and its main advantages are:
- Unblemished reputation.
- Stable economic and political situation.
- The maximum level of protection.
- Maltese gaming license is a document, which is recognised in all European countries.
- Ability to advertise gaming sites in the UK.
- Access to a merchant account.
- Competitive tax payments.
- No restrictions on cooperation and various kinds of financial operations in Maltese banks.
- No fees for transferring funds abroad.
- No restrictions on the technical parameters of the equipment and software solutions that are used.
- Operators automatically receive an international status.
- Ability to apply for and receive a residence permit.
Managers of this firm will tell you everything about how to receive a permit in countries listed under the Malta gaming license. Here, you will find competent specialists with vast working experience.
Smart Money has the best range of solutions for successful and profitable projects. You can also order a turnkey website, the integration of popular payment processors, and the connection of affiliate programs. We also have the relevant software for online websites, products for the land-based locations, and systems that work on mobile devices.
Our product range includes licensed software and slots from the world's leading brands: Playtech, Novomatic, Amatic, NetEnt, and Microgaming. Moreover, unique slots based on exclusive sketches can be created (HTML5 technology is used to implement gaming solutions).
Our specialists are going to create a step-by-step strategy and promote your project.
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