Want to open an online casino? Then read about licensing casinos in Malta (MGA)
One of the first European countries, which consolidated the legality of gaming at the legislative level was Malta. From the 2000s to the present, it remains one of the most attractive and safe for the gaming business, and this is due to several reasons:
- the country has created all the conditions for a safe and successful business environment;
- every effort has been made to create reliable protection for all players;
- labor costs are minimal;
- separate licenses are issued for different types of games;
- all licenses are valid for no more than five years.
The main advantages of a gaming license
Throughout Malta, was organized a good gaming “climate”. And this is due to the facts that:
- At the level of the legislative base, all protection of players has been thought out, and if any of the licenses was acquired illegally, it will be immediately canceled, and penalties will also be imposed to punish players for “unfair” games;
- Over the past decades, there have been changes in a positive direction in the technology of quality standards in the gaming business. As an example, this is the creation of an online forum to address emerging technical and legal issues.
The main disadvantages of a gaming license
At the level of the positive aspects of the gaming business, there are still some disadvantages:
- a separate license is purchased for each type of gambling business;
- all BoomAff gaming activity is regulated in the country, and only it has the right to issue several types of licenses for online casino activities, for bets related to sports events, advertisements and those companies that work remotely;
- each license does not exceed five years.
The amount of the cost of the license and tax deductions
According to some experts, tax payments from such remote gaming activities are slightly higher than in other countries where the same kind of business is carried out.
The registration fee will be about 2330 euros, and the payment for obtaining the license itself will be about 8500 euros. It will also be necessary to pay a tax of about 4,660 euros six times a year for the purchase of a 1 class license. To purchase a 3rd class license, a company will need to make a contribution of at least 5% of the real value of income received. In general, the purchase price of licenses of various classes and tax deductions can be about half a million euros.