Online Gaming License and Industry in Malta

Malta iGaming industry is a vast industry which is growing with every passing day. We all loves to play games, and if that is available in online mode, then the child is us will be more than happy. With digitalization in every sector, gaming industry Malta too has been actively following the path.  But to get digital or online, it is important to acquire a valid Malta online gaming license.  EMD is one such establishment that provides ample support in getting the formalities of licensing done.  It was in late 2000 that the Malta online gaming industry gained wide popularity. Malta too has been an incredible part of the gaming industry with many leading developers.

iGaming industry is vast and there are numerous products to choose from. A gamer can choose from different categories like casino games, betting games, esports betting games and many more. It is basically an online platform where bets are placed on the result or outcome of a particular game or event. Going by the data of 2017 released by MGA or Malta Gaming Authority, Malta has around 294 iGaming companies that forms a major part of the Malta iGaming industry. It contributes to around 10 percent of the country’s GDP. This number is pretty good as this gaming industry Malta is not very old and came into picture in the year 2014. Malta online gaming license is a document that is mandatory to conduct betting or online games gambling in online mode. These licenses are granted by special commissions who are responsible to regulate the online gaming process. Malta online gaming has existence until the licence is valid and without that there is no legal ground for the business and hence there will no investors.

Under Malta iGaming industry, there are a wide range of games available which can be played via distance communication modes like internet, mobile, digital TV etc. All these are operated via means of Malta online gaming licence network. Malta EMD offers various attractions that pressurises I Gaming companies to play under its legal jurisdiction. Malta being a part of European Union, is one of the pioneers to regulate remote gaming networks. Malta online gaming industry has a significance of having well-regulated jurisdiction which ensures that interest of both players and operators are well maintained. The entire process of getting licence for regulating gaming industry Malta is very easy and has an objective based approach providing scope for modification in future.

Requirements for getting the iGaming license in Malta

• The developer or operator must be established within EU or EEA
• The applicants must be fit and proper
• The business must be able to provide a demo for business and technical ability that will have capability to manage the iGaming platforms
• It must provide guarantee that the players will be paid on winning and that they have sufficient reserves to maintain the operation

The operator must provide all required documents to MGA for getting the Malta online gaming license.  There is a fee that is applicable while submitting the form along with annual license renewing fee.

The Individual Investor Programme (IIP)

A growing number of wealthy individuals seek to invest and migrate elsewhere due to political and socio-economic instability in their countries, giving another chance to themselves and their families to improve their life in a more stable environment while expanding their business interests.

Malta has seen this opportunity and has created the IIP Programme to attract wealthy high net worth private individuals who are interested in migrating elsewhere by contributing to the growth of the Maltese economy. A yet small country but with a booming economy and a stable political climate, Malta, gives the opportunities through sound and smart investments. Malta has weathered the financial crisis and has maintained economic growth during this challenging time.

The Malta Citizenship by Investment Programme is designed in a way that is intended to expand opportunities and also attracting to Malta those people willing to invest and believing in the potential of such a small island.

The investment required under the IIP Programme takes the form of a monetary contribution to the National Development and Social Fund established by the Malta Government for the purpose of bringing about qualitative improvements in Malta through public interest, social and capital projects, the main applicant is required to contribute at least Eur650,000 to Malta. Applicants are also required to invest at least €150,000 in bonds or shares approved by the Maltese Government and must be kept for at least five years.

Through a rigorous due diligence process, applicants must show that they are in good health and that they wouldn’t be a burden on the Maltese health system, purchase or lease a property and also provide sufficient links to Malta.

The applicant (and dependents) must also be of good repute and must show a good criminal record, and the Maltese authorities would then carry their checks with various other authorities and sources. All citizenship applications under the Malta Individual Investor Programme go through a systematic review and evaluation process. 

An overview of the government fees involved for the Malta Citizenship by Investment Programme would be as follows –

Contributions

Main applicant – €650,000

Spouse – €25,000

Each and every child aged below 18 – €25,000

Each and every dependent unmarried child aged 18-26 – €50,000

Each and every dependent parent aged above 55 – €50,000

Passport Fees

per person – €500

Due Diligence Fees

Main applicant – €7,500

Spouse – €5,000

Each and every child aged 13-17 – €3,000

Each and every dependent unmarried child aged 18-26 – €5,000

Each and every dependent parent aged above 55 – €5,000

Bank Charges

per application – €200

The IIP Programme requires the applicant to be a resident in Malta for a period of at least 12 months.

 

The Malta Gaming Authority’s Eligibility and Competency for Key Function holders

The Malta Gaming Authority’s (MGA) main aim behind the recently introduced policy in respect of eligibility and ongoing competency is in fact to delineate thecriteria that the MGA will consider forappointed Key Persons and individuals still to be appointed to these specific roles. The amendments also brought about an amalgamation of certain Key Functions. The major focus of this newly introduced policy isidentified below:

• Key Persons will be required to fulfil a number of continuous professional development (CPD) hours during each calendar year; for the duration of the Key Function certificate period
• any activity to be considered as CPD must be relevant and verifiable
• fitness and propriety considerations based on Integrity, Honesty and Reputation as well as Competence and Capability
• competency and capability are based on related professional qualifications as well as related experience to the role being appointed to
• Key Function Certificate holders and Authorised Persons must comply to notification of changes in Key Persons’ roles by the established deadlines in 2022. Failure to submitting such notifications, may result in a total revocation of any Key Function Certificate held related to the particular Key Person
• the MGA introduced further guidance in respect of conflict of interest between roles and compatibility of roles

The list below includes the updated Key Function roles for B2C licensees and B2B licensee respectively;

B2C

• CEO
• Gaming Operations including responsibility for finance, administration, risk management and fraud prevention
• Legal Affairs
• Data Protection Officer
• Compliance Officer including responsibility for responsible gaming, player support and marketing & advertising
• Technological Affairs including responsibility for network and information security
• Money Laundering Reporting Officer
• Internal Audit

B2B

• CEO
• Gaming Operations including responsibility for finance, administration and risk management
• Legal Affairs
• Data Protection Officer
• Compliance Officer
• Technological Affairs including responsibility for network and information security
• Internal Audit

For furtherdetails on the above changes contact EMD’s gaming team on gaming@emd.com.mt.