Malta Gaming License
Malta Gaming License
Half of all European poker rooms and gaming facilities to do business on the Internet, are registered in Malta. This is explained by a range of good reasons: beneficial geography location of the country, the loyalty of local laws in terms of online commerce, the ability to open operational bank account at ease.
At the same time, Malta ranked as the European community is quite strict in its its requirements set to gambling businesses. Companies engaged in gambling can do business as they get a license. To obtain this authorization, applicants are thouroughly verified by relevant agencies.
PRIVATE FINANCIAL SERVICES
The specialists of Private Financial Services are willing to render professional assistance in verification and to help new gambling agencies on initial stages of their business. Our personnel is qualified in quick ways to cope with licensing issues and they will help to choose on the most appropriate kind of licensing.
Today, Malta offers four types of licenses and each of them cover oncline casino activities.
- Internet gambling that includes table games and lotteries are controlled by operators.
- Bookmaker offices that provide the risk management for one-time events (football, basketball, horse racing, etc.).
- Bingo game, exchange house bettings, poker that exclude the risk management and companies are founded to ensure communication between players.
- Companies that execute the special software but they are not involved in risks, though they may get commissions.
Specific Peculiarities For Malta Gaming License
The lower price limit to grant the permit to do online business is equal to 50 000 Euro. The validity of this license is five years. The Maltese law in terms of online casino taxation provides the similar provisions that apply to trading company taxation. These types of business are taxed at a tax rate of 5-6%. Owners of licensed companies may be granted a residence permit on the island of Malta.
Conditions To Do Business In The Legal Field
- authorized capital available in the amount from 40 to 100 000 Euro to be paid on the date of application submission to open an online casino;
- payment of duties required during registration;
- preparation of financial statements and system auditing;
- agreement with the local resident to represent a company owned by the non-resident to public authorities;
- submission of registration papers, certified by the notary, translated into English (personal data of participants of the enterprise, reference information of the company structure and activities, proof of residence, documents for the licensed software, etc.).