Malta is among the favorite countries for opening online casinos within the eFinancial Services sector. It was also called “Europe’s eGaming capital”,and thus becoming one of the greatest players in the online gaming business and ICT (information and communications technology) field. The country is suitable for online gambling and online betting services, and based on the acquisition of the appropriate license, one can offering easily set up an online casino. Malta has also signed numerous tax treaties and international agreements that offer easy access to third country markets, such as Asia and North Africa. If you would like to set up a casino in Malta, we recommend you talk to our company formation agents in Malta and ask for comprehensive support in such matters.
What do you need for opening an online casino in Malta?
Maltese casinos must follow the rules of the Gaming Act Regulations of the 7th of August 1998 and it must register with the Lotteries and Gaming Authority (LGA). In order to open an online casino in Malta, one must apply for a special license which is issued only to companies registered in this country. Certain conditions have to be met before asking for a license for eBetting: the person who owns a large amount of voting capital and the director of the company must be persons of integrity and the representative must have the expertise to operate a casino. The license needed for e-gaming is available for a period of 5 years and it is renewable for another five years after this period. An annual fee must be paid for it. The online gaming license will contain:
- the name of it,
- the date of issuing,
- the date of expiration,
- the casino’s address,
- the address where the specific documents must be issued,
- the maximum number of tables and machines that can be operated under the license,
- the minimum opening hours.
You can also watch the video below on how to register a casino in Malta:
License for online casino
There are four classes of licenses that can be issued by the LGA. These classes range from one to four. The first class license for online betting or eBetting is granted for the lotteries, slots, online casino style games; the second class can be issued to operators offering betting services; the third one is issued to promotion and advertising companies that operate from Malta, such as poker networks, game portals and betting exchanges. The last class of license is issued to companies which do not offer remote gaming operations, but host this type of business (companies that provide the platform for online gaming). The Lotteries and Gaming Authority is the main entity issuing licenses for opening online casinos, if all the documents are properly submitted no later than 18 months from the initial submission. The documentation in this sense might be complex, however, it is best to know right from the beginning the type of gaming activities you wish to implement online. Do not hesitate to address your inquiries in this direction to our team of company incorporation agents in Malta and find out how they can help.
Capital requirements for opening a casino in Malta
Companies applying for a remote gaming license are now subject to minimum share capital requirements, depending on the type of license applied for. The capital must be paid up before starting operating. The amounts to be deposited are:
- EUR 100,000 for class 1 and 2 licenses;
- EUR 40,000 for class 3 and 4 licenses;
- EUR 240,000 for companies applying for multiple licenses.
Documents required for the license
The applicants requestinga license to open an online casino in Malta must submit the following documents:
- registration certificate of the company,
- last year’s audited financial records (if applicable),
- copies of trademark registration, if available,
- a three-year business plan,
- the power of attorney of the representative, if one was appointed,
- a declaration form and a standard application (available on the LGA website).
The LGA may also require other documents such as passports, a proof of residence, reference letter regarding issued by the bank for the beneficial owners etc. Any change in the status of the Maltese online casino, must be notified to the LGA within 14 days.
Online casino regulations in Malta - what you need to know
Malta Gaming Authority issues gaming licenses with a validity of 5 years, with the possibility of renewing it for other 5 years. The most important thing to know is that the Maltese authorities concentrate on the general rules ad a fair treament in the gaming zone in Malta, in respect with the applicable laws in this sector. Moreover, the same authorities are aware of the money laundering acts which might take place in the gaming sector, and companies found implicated in such cases or accused of such offences can have the licenses cancelled.
Who can access the online casinos in Malta?
Players from Europe, America, Asia, Africa, and Australia can easily have access to online casinos in Malta, respecting the general rules for gaming. There are no restrictions in terms of online gaming, except the one referring to minors. Instead of dealing with misunderstandings in matters of casino registration in Malta, we invite you to solicit the support of our company formation specialists in Malta. They are at your service regardless of the business you wish to develop in Malta.
Requirements for gaming software in Malta
Once the legal requirements are accepted, the next thing to consider when opening an online casino is to buy a professional software for the games you wish to develop. Components like a game management system, cashier system, anti-fraud system, retention email, reporting engine, registration system, payment methods, bonus and promotions are comprised by a good and legal gaming software. The provider offering such software must offer immediate technical support at the time it is implemented and also during the operations. There are several or probably thousands of gaming software providers all over the world, however, it is important to pay attention to the packages offered and see if they respect all the requirements from a legal point of view.
Do I need a marketing plan for an online casino in Malta?
Yes, it is recommended to have some strategies and marketing plans at the time you wish to open an online casino in Malta. In most cases, the success of such a business will depend in a large percent on the approaches and tactics, especially considering the competitors on the market. Even though the rules are the same for any kind of casino, special offers can make the difference and can attract even more players. A solid marketing strategy and adopting the best gaming practices in matters of promotions might be the ideal options for those entrepreneurs wanting to thrive in the gaming sector in Malta. Prelaunch advertising campaigns, after launch promotions, client attraction and the support of affiliate network casinos are among the marketing strategies which can help your online casino develop in Malta.
Bitcoins for online casinos in Malta
Considering the fast development of bitcoins not only in Malta but around the world, these can be used as virtual currencies for online casinos in Malta. It is important to pay attention to the ways in which bitcoin gambling works and the methods involving the bitcoin transactions on the internet. Entrepreneurs who want to register an online casino in Malta do not need to consider harsh formalities in matters of registration, as such procedure is quite simple if all the requirements are respected. In addition, one should pay attention to the payment methods, the marketing strategies and the segment in which you want to activate and make profits. In matters of company formation in Malta, do not hesitate to talk to our consultants. It is important to know that since 2018, the Virtual Financial Assets Act is the legal framework that oversees the cryptocurrency activities, including the ones involving online casinos. There are numerous entrepreneurs who decide on cryptocurrency in Malta through varied business forms: some decide on cryptocurrency companies or develop businesses that allow the payment with virtual money. In any case, it is important to pay attention to the applicable legislation as a foreign investor in Malta.
For extra details about how you can open a casino in Malta, please contact our local agents in company formation in Malta.
Call us now at +356 21 376 686 to set up an appointment with our specialists in company formation in Valletta, Malta. You can incorporate your company without traveling to Malta.
As a Ciantar Associates client, you will beneficiate from the joint expertize of local lawyers and international consultants. Together we will be able to offer you the specialized help you require for your business start-up in Malta.