Malta gambling license
A gambling license in Malta is one of the most prestigious gambling licenses in existence today. The Legarithm team recommends obtaining this license for projects that have been present in the gambling market for many years, due to the requirements of the regulatory authority for management experience, for authorized capital, serious approach to certification of games and the long term for license obtaining.
Malta’s gambling license inspires confidence among your clients due to the high reputation of the jurisdiction. It will simplify your communication with banks and merchant account providers, since a gambling project with such a license is under the supervision of a serious European regulator.
Compared to other European gambling licenses, Malta has a faster process for obtaining a license, very favorable taxation, a developed infrastructure of the gaming business (12% of the country’s GDP comes from gaming activities).
Classes of licenses for online gambling business in Malta
Class 1: licenses for operators providing online casino games, lotteries, gambling and random number generator.
Class 2: licenses for bookmaker operators (online sports betting, fixed odds, pool bets).
Class 3: licenses for advertisers and advertising companies, including P2P, poker networks, stock betting, bingo.
Class 4: licenses for companies providing software (software) for online gambling companies.
Legarithm specialists will select the correct license class based on your type of gaming activity and advise on the differences for each individual class.
A Malta licensed gaming company has a number of advantages over unlicensed or offshore licensed companies. One of the main ones is the absence of problems with opening an account and accepting funds from users.
What do you need to get a Malta gaming license?
The whole process takes about 6 months and necessarily includes the registration of a Maltese company and the preparation and submission of a package of documents for obtaining a license.
The list of documents is significant, it greatly exceeds the number of documents required e.g. to obtain a gaming license for Curacao.
We will list just a few of them to understand the difference:
- Police clearance certificates from directors and shareholders of the company;
- business plan;
- financial plan;
- marketing plan;
- complete technical documentation and information about the software used for processing bank credit cards;
- security protocols, encryption, access restrictions and data storage, used by antivirus programs.
A mandatory requirement is the contribution of the authorized capital in the amount of 40,000 EUR to 100,000 EUR.
For whom Malta license will suit?
Thus, a gambling license in Malta will suit those entrepreneurs who already have experience in the gambling industry and have previously obtained licenses in other jurisdictions. They can also use a gambling license in Malta as a marketing tool to enhance the image and status of their casino.
It should be noted that Malta is not suitable for novice entrepreneurs in the gaming industry, since the regulator requires the top management of the company to have gaming experience, the authorized capital is from 40,000 to 100,000 EUR and conducts a fairly serious compliance to meet all requirements.
Contact our specialists to get advice from experts on game licensing of your particular project.