Malta is the state that clearly regulates the organization of gambling activities operating on the remote mode. This license will allow you to carry out international gambling activities, place your gaming application in the App Store and develop legal gambling business in the international arena. Registration of a license and registration of a company in Malta takes up to six months.
There are 4 classes of licenses for online gambling:
- Class 1 – games in the style of slot machines, casinos, lotteries, games like “bingo”
- Class 2 – sports betting
- Class 3 – promotion of gambling from Malta (connection of equal nodes, networks for poker games, betting exchanges, game portals)
- Class 4 – providing hosting and management tools on its platform
For licensing remote/online games in Malta, the applicant company must meet the following conditions:
- – have registration in Malta in the legal form of LLC (analogue LLC)
- – have paid-up share capital (the minimum share capital of Malta LLC is € 1,165. However, in order to obtain a license, for example, class 1 (casino, lottery), the share capital must be increased to € 100,000)
- – have technical and organizational means to carry out operations related to remote gambling
- – have financial and other economic resources or provision
- – guarantee the payment of winnings and the return of deposits
Online Casino Licensing Stages in Malta
The Malta Lottery and Gambling Authority serves:
- – an application for a license to organize remote gambling;
- – checks the financial soundness of the actual owners (beneficiaries) and directors;
- – a three-year business plan is being reviewed.
Subject to the provision of all proper documentation, including personal, the first stage takes 2-3 weeks. The success of the first stage depends on the positive conclusion of legal expertise and the adoption of a business plan by the Malta Lottery and Gambling Authority.
Registration of a company in Malta and opening of bank accounts, incl. Merchant account.
Submission to the Lottery and Gambling Authority of Malta documents on the applicant organizations and technical guidance, which should contain detailed information about the system and application architecture, software, management procedures, security, backup and recovery in emergency situations. Subject to the provision of all proper documentation, the completion of the second stage is 5-6 weeks. The applicant’s receipt after the positive completion of the second stage of the letter of commitment (in fact, a temporary license) for a period of 6 months with the possibility of extending it for another three months.
During the period of validity of the temporary license, the applicant must start his activity and receive a certificate of conformity for the organization of remote gambling in accordance with ISO / IEC17799: 2000.
Audit company compliance, which is conducted by an auditor appointed by the Office of the lotteries and gambling.
The duration of the third stage of the licensing procedure is six months, which is the same as the term of the “temporary license”. Upon successful completion of the audit for compliance with the licensee, a full license is issued for conducting remote gambling for a period of 5 years and subject to conditions that the Lottery and Gambling Authority deems necessary to put forward.