Malta
I-Gaming License (B2C)
Malta
I-Gaming License (B2C)
Malta is the largest i-gaming jurisdiction in the EU, having introduced regulated remote gaming as the first EU jurisdiction.
The country’s i-gaming industry has achieved success through a unique strategy focusing on regulation and transparency.
Malta’s approach to licensing and monitoring of gaming operations provides optimum protection for players and regulatory solutions for operators.
The country’s legislation is in line with EU and international agreements, and Malta is also at the forefront of technological advancements in the gaming sector.
Regulating Body: Malta Gaming Authority (“MGA”).
Regulatory Basis: Gaming Act of 2018.
License Type: Business-to-Customer (B2C) or Gaming Service License
Regulation and transparency, ensuring player protection and regulatory solutions.
Easy access to capital markets, e-wallets, and payment gateways worldwide.
Access to capital markets, e-wallets, and payment gateways worldwide
Innovative technologies like virtual currencies and distributed ledgers.
Types of Games
Allowed Under B2C License
Types of Games Allowed Under B2C License
Games of chance played against the house, the outcome of which is determined by a random number generator. This type includes casino type games such as roulette, blackjack, baccarat, poker played against the house, lotteries, secondary lotteries and virtual sports games.
Games of chance played against the house, the outcome of which is not generated randomly but is determined by the result of an event or competition extraneous to a game of chance and where the operator manages his or her own risk by managing the odds offered to the player, typically a sportsbook.
Games of chance not played against the house and wherein in the operator is not exposed to gaming risk, but generates revenue by taking commissions or other charge based on the stakes or the prize. This type includes player versus player games such as poker, bingo, betting exchange, and other commission based games.
Skill games the outcome of which is determined by the use of skill alone or predominantly by the use of skill determined to be licensable by the MGA (therefore controlled skill games), principally fantasy sports.
Requirements
Requirements
The gaming operator must be a company incorporated in Malta or another EU country;
No restrictions on the nationality of the ultimate beneficial owners of the company;
Shareholders, directors and persons carrying out key functions must be approved by the MGA;
Players’ funds must be kept separate from operations moneys;
KYC Requirements
Full due diligence requirements will be provided when the application process will start and company’s principals will be subject to Fit-and-Proper test.
KYC Requirements (Initial Due Diligence)
for Directors/Shareholders/UBOs
- Copy of passport;
- Proof of address, should not be older than 3 months and in English (a copy of a recent utility bill, credit/debit card bill or other address confirmation showing name and residential address, bank statement, current lease agreement, hire purchase statement, contract for rental property from landlord).
- CV;
- Proof of source of wealth and share capital (for UBOs only);
- Other relevant documents confirming experience in gaming industry;
- Business plan for the future company and 3-year financial projections;
Minimum Share Capital to be Paid Up
Minimum Share Capital to be Paid Up
B2C Type 1 or 2 – EUR 100,000
B2C Type 3 or 4 – EUR 40,000.
License Fees
For B2C licenses (Types 1, 2 and 3) a fixed annual license fee of EUR 25,000;
For B2C Type 4 the annual license fee is fixed at EUR 10,000.
Together with the annual license fee, a variable compliance contribution being a scaled percentage of the gaming revenue must be paid as follows:
|
B2C Type 1
|
B2C Type 2
|
B2C Type 3
|
B2C Type 4
|
|---|---|---|---|
| First € 3,000,000 - 1.25% | First €3,000,000 - 4% | First €2,000,000 - 4% | First €2,000,000 - 0.5% |
| Next €4,500,000 - 1% | Next €4,500,000 - 3% | Next €3,000,000 - 3% | Next €3,000,000 - 0.75% |
| Next €5,000,000 - 0.85% | Next €5,000,000 - 2% | Next €5,000,000 - 2% | Next €5,000,000 - 1% |
| Next €7,500,000 - 0.7% | Next €7,500,000 - 1% | Next €5,000,000 - 1% | Next €5,000,000 - 1.25% |
| Next €10,000,000 - 0.55% | Next €10,000,000 - 0.8% | Next €5,000,000 - 0.8% | Next €5,000,000 - 1.5% |
| Next €10,000,000 - 0.55% | Next €10,000,000 - 0.6% | Next €10,000,000 - 0.6% | Next €10,000,000 - 1.75% |
| Remainder - 0.4% | Remainder - 0.4% | Remainder - 0.4% | Remainder - 2% |
Process of License Obtaining
Procedure
-
1
Stage 1 Application
-
Fit & Proper Test:
Due diligence on all key persons, directors of the prospective gaming company and shareholders having 5% or more interest.
-
Business Adequacy:
- Business plan;
- 3-year financial projections.
-
Operational & Statutory Requirements:
- Company formation;
- Website text and content;
- Relations with service providers;
- Technical documentation;
- System/operations control procedures.
-
2
Stage 2 System Audit
- Go-ahead by MGA to implement the proposed infrastructure prior to going live;
- Implementation and systems audit, to be completed within 60 days from go-ahead;
- Issuance of license valid for 10 years.
-
3
Stage 3 Application
- Go live – within 60 days from license
- Compliance audit within first year of operation
Costs and Timelines
Costs and Timelines
Fees indicated herein are in Euro and are exclusive of any VAT if applicable
|
1
Stage 1 Application
|
Cost
|
Timeline
|
|---|---|---|
| Gaming Company Formation Fee, one-off | € 1,255 | 6 Weeks |
| Opening of first bank account (operations account), one-off | € 1,500 | |
| Initial due diligence on shareholders and directors, one-off | € 600 | |
| VAT Registration, one-off | € 500 | |
| Licensing process: consultancy and assistance, one-off For each additional type of license required extra EUR 4,000 to be paid |
€ 21,000 | |
| Key functionaries application, one-off Covering average of 6 persons taking up the different key functions |
€ 1000 | |
| Company Registration fees payable to the Registry of Companies. If more than one game type, the fee varies accordingly the share capital |
€ 870 (for € 100,000) or € 690 (for € 40,000) |
|
| Fees payable to bank for opening of bank accounts | Depends on bank chosen | |
| Application fee payable to the MGA, one-off | € 5000 | |
| Key function: €50 fee per function 15 key functions for B2C license | € 750 | |
| Total for Stage 1, excluding Governmental fees and Bank fee |
€ 25, 855 | 6 Weeks |
|
2
Stage 2 Application
|
Cost
|
Timeline
|
|---|---|---|
| Licensing process: consultancy and assistance** **Payable on receipt of go ahead from the MGA or commencement of work on stage 2 whichever is the earliest. |
€ 8 ,300 | 10-14 Weeks |
| Systems auditor (approx.) | € 2 ,600 | |
| Total for Stage 2, excluding Governmental fees and Bank fee |
€ 8, 300 | 10-14 Weeks |
|
3
Stage 3 Application
|
Cost
|
Timeline
|
|---|---|---|
| Licensing process: consultancy and assistance*** ***Payable upon issue of the license / MGA go ahead to go live. |
€ 8 ,300 | 60 days upon which licensee must go live |
| Compliance auditor (approx.) | € 3 ,000 | |
| Total for Stage 3, excluding Governmental fees and Bank fee |
€ 8, 300 | 60 days upon which licensee must go live |
Excluding Governmental fees and Bank fee
Gain a comprehensive understanding of costs and timelines by downloading our informative PDF.
Find all the essential details and empower yourself to make informed decisions.
Annual Fees
Annual Fees
 Service
|
Cost
|
|---|---|
| Yearly Registry of Companies, depending on the initial share capital If more than one game type, the fee varies accordingly the share capital. |
€ 400 (for EUR 100,000) or € 350 (for EUR 40,000) |
| Yearly license fee | € 25,000 and a variable compliance contribution being a scaled percentage of the gaming revenue |
| Yearly Domiciliation Fees | € 1 ,000 |
| Annual compliance review | € 500 |
| Accounting Fees (deposit on account) | € 2 ,500 |
| Corporate tax return | € 500 |
| Total excluding Governmental fees | € 4, 500 |
Optional Services
Optional Services
|
Service
|
Cost
|
|---|---|
| Technical consultancy (stage 1), minimum | € 8 ,000 |
| Technical consultancy (stage 2), minimum | € 8 ,000 |
| Technical consultancy (stage 3), minimum | € 4 ,000 |
| Retainer consulting services, monthly fee | € 2 ,000 |
| SEPA + SWIFT EMI account (including the provider’s fee) | € 2 ,500 |
| Assistance with the EMI accounts opening (excluding EMI fees), per account | € 2 ,000 |
| Assistance with the card processing accounts opening (excluding provider’s fees), per account | € 1 ,500 |
Unlock the doors to success in the thriving i-Gaming industry
Begin your licensing process effortlessly with our user-friendly online application. Or schedule a call to speak directly with our experts to explore how Malta’s i-gaming license can elevate your business.
