The igaming industry in Malta is one of the two major contributors to the GDP. In fact, there are over 300 gaming companies registered in Malta, employing almost 10,000 people. These companies contribute to 10% of the GDP of Malta. This shows that the gaming industry in Malta is an industry with enormous potential.
What makes the Malta online gaming licence so popular, and what are the advantages for gaming companies and players?
The players benefit from the Maltese licence with regards to player protection. For example, gaming operators are obliged to keep the player’s funds separate from the company’s funds, and they have two be placed in separate accounts with an approved bank. In order to ensure that the operator does not borrow money from the player accounts, in case they are short of funds, the operator has two submit bank statements to the Lotteries and Gaming Authority every month. This will also be important in case the company goes bankrupt, as they will not be able to touch the funds of the players, and they will not be mixed with the operators funds. This will minimise the risk of this situation arising, but it will not prevent the situation from happening altogether.
Operators on the other hand can benefit from the trust that the players have in the LGA. Ultimately, this will mean that even a new operator can benefit from having a Maltese licence, which already gives him a certain credibility in the industry. Players will see that the operator, whether they had heard about them or not, has this credible licence, and is therefore a trustworthy site to play at. Another advantage for the operators is the tax structure and the fees. The tax depends on the Remote Gaming Licence Class. The corporate tax for companies can be effectively 5%, which is achieved through a 6/7 refund of the corporate tax if the company is owned by a foreign shareholder or Holding company.
If you would like to have more information about how to obtain a Malta Gaming licence, you are welcome to send a message to the office of Dr. Werner & Partner. We are specialised in company formations and everything related to applying for a remote gaming licence in Malta.