Malta: online casino license
Nowadays the popularity of gambling business grows day by day and it is not surprising as it brings huge income. That is why lots of businessmen and companies are striving to open casino.
It bears reminding that casino games are prohibited in many countries and land-based casinos that were successful some time ago were closed. However, due to advanced technologies and Internet possibilities former owners of land-based gambling venues opened their business in Internet avoiding many problems and increasing income.
Why is online casino license needed?
In order to conduct legal business you need documents officially issued by authorities of the country where this business is opened. Gambling activity in this aspect does not differ from any other that is why online casino is obliged to receive gambling business license. Moreover, copy of this document should be published on the site so each user can see it.
Nowadays Online Casino Market company operates at the gambling market that offers to buy casino license so you do not have to search the solution in difficult situations. This organization also offers their partners to open casino or buy casino with ready gambling business license.
Thanks to casino license the company gets legal status, gamblers’ confidence and partners’ respect. Company can conclude partnership agreements with other representatives of gambling market to provide software and other equipment and also provide similar services.
Where you can buy casino license?
Special committees located in offshore countries issue permits. Why in such zones? Offshore legislation differs from any other by loyalty to international companies and as a result they do not have to pay taxes and solve problems with police authorities because of illegal status.
Offshore countries with jurisdictions are Curacao, Malta, Alderney, Estonia and others. Each committee advances their requests for potential licensees and issues gambling permits only upon their compliance. The cost of gaming business license may be various and the list of necessary documents can slightly differ.
The status of international company and business support by respected organizations are the benefits after buying online gambling license.
Malta online gambling license
Republic of Malta is a former British colony, neutral peaceful country with population about 380 thousand people. Valletta is a capital of Malta governed by a president. Maltese archipelago that includes an island is located in the Mediterranean sea.
Peculiarities of business registration on Malta
You can register two types of limited liability companies on Malta: private and public. Responsibility of shareholders is limited which is a significant factor. Registration process differs from analogous procedure in other countries.
Advantages of license gambling business on Malta:
- fast registration;
- receiving the status of EU international company;
- increase of brand prestige due to highly reputable jurisdiction;
- licensing of any kind of game (sports bets, online casino, lotteries, poker rooms, etc.);
- unlimited gambling activity — online, offline mode, mobile casino;
- global competitive business promotion;
- business security and reliability;
- no limits in Maltese banks when open accounts;
- use of tax benefits;
- lack of tax for money transfers abroad;
- high level of banking service;
- foreign country working on Malta uses same benefits like the one from Malta;
- fats and free business relocation from any country to Malta;
- residence permit on Malta.
Thus, it is possible to arrange trust, holding, partnership and other types of activity including gambling.
Buying online gambling license on Malta
Gambling business licensing in this country is done by LGA organization that reviews applications and issues permits. The procedure is quite simple and does not take too much time as Maltese government created favorable conditions for gambling business in the country. This management resulted in an increased number of gaming companies registered on Malta that compose one tenth of all participants at the world gambling market. Malta membership in European Union is a huge advantage that ensures free activity in many countries.
What are the categories and subcategories of Malta online casino licenses?
Maltese government defined activity that should be necessarily licensed. Gambling services that are provided distantly via email were defined in gambling business. Users make deposits in order to get reward.
1. Online casino license (Remote Gaming Licence) of the I category. It is issued for the games organizers when events repeat during the game. Owners of Internet casinos, slot machines, lotteries claim for this license. Casino software of this category should contain random numbers source as these games are based on accident and the result does not depend on a player and casino manages all risks.
Conditions mentioned in online casino license of I category are defined also in the sub license «1 on 4» for games based on RNS and for “experience” games (IV category). This license is for the owners of Internet casinos operating under license of IV category.
2. Casino license of II category is issued for the operators that provide services on online bets for certain events, for example, bookmaker office. This activity is related to the risks and markets with fixed rewards.
3. License of III category allows games organization between users that win by themselves thanks to their skills and efforts and undertake all responsibility. Operator of such business does not bear any risks and gets percents from the game, and Malta online gambling license ensures bets exchange. Such venues include poker rooms, bingo, totalizators, betting exchanges.
The variety of this license is sub license for gambling operators that act on Malta under the license of IV category. These business owners either work in this country or conduct gambling activity.
4. Casino license of IV category is issued for the vendors and providers of software, online games, hosting services. They are developers of casino software and do not take any risks and earn on the fees.
Malta online gambling license and company registration
Submission of the application and LGA regulative authority verification are the key stages when receiving online gambling license.
The company should have more than two shareholders.
In order to register company on Malta you need to pay registration fees, receive VAT number and arrange legal address in this company. Then financial and executive directors and other employees are assigned.
Submission of company business plan to the committee is a very important step.
What should business plan include:
- Name of company and the names of its founders;
- company goals and tasks;
- list of employees, their positions, duties and functions;
- characteristics of each online casino game (name, need-to-know-basis);
- types of online casino software;
- projected tasks in sales for the nearest three years, estimated deadlines and income;
- financial and marketing plans;
- funding sources.
Documents that need to be submitted to jurisdiction on Malta:
- copies of birth certificates and passports copies of the company founders;
- copies of the Statute and Founders agreement;
- photos of shareholders;
- clean record certificates;
- balance and financial reports about current activity;
- bank certificates that confirm accounts with available funds;
- recommendations from financiers and business representatives;
- documents confirming office location: receipts of utility or rent payments (for those who will conduct business from abroad);
- business plan of company activity;
- information about partners and samples of agreements with them;
- application of a licensee for casino license.
Besides, it is needed to prepare operational manual with information about games, payment systems, security measures, guarantees of rewards payments, ways of data recovery, etc.
All copies of documents should be certified by notary.
LGA committee will be reviewing package of documents during three-four weeks after submission. Malta gambling licensing is held in several stages. Each of them may require some additional document.
The first online casino license is temporary (for half a year) and only after careful verification business owner can get a permanent license for five years. Permit can be prolonged and you need to notify the committee about this not later than in two months before expiration of the first Malta gambling license.
LGA usually considers requests of gambling companies and prolongs permits without any additional demands, however, if some violations were noticed for the last five years the problem is solved on an individual basis.
Gambling taxation on Malta
Taxes depend on the category of the license and its duration. Thus, for the first half of a year under license of I category operator should pay EUR 4660 and every next year this license will cost him EUR 7000. Price of documents for bookmaking office is 0,5% from income, and the cost of licenses of III and IV categories is 5% from income.
But it is better to find out an exact price of licenses from the committee. The best way is to refer to professionals from LGA. Your documents will be arranged correctly that influences a positive result from jurisdiction on Malta.
Online Casino Market is the best option. Their experts know everything about online gambling license. We suggest you to buy casino license from Online Casino Market company. Here you can also buy casino with the games, software and license. There is an opportunity to open casino with the help of Online Casino Market experts.