Some regulatory changes of a Malta Gaming Act are just around the corner, and the consultation is currently open to the industry players. On the 12th July 2017, the Malta Gaming Authority (“MGA”) has published a white paper which aims to overhaul the regulatory regime for gaming in Malta.
We prepared for you a short summary of what changes are proposed in the current working paper. If you currently hold an MGA Class 4 licence or are in the application process for one, the below is designed specially for you!
Class 4 license will be replaced with the MGA B2B license automatically for those operators who already hold the license. Here is the comparison of the current situation and proposed changes in terms of costs and fees payable to the Regulator for a B2B license.
|Application Fee||€ 2,330||€ 5,000|
|License validity||5 years||10 years|
|License renewal||€ 1,500 (payable before the lapse of the 5th year)||€ 5,000 (payable before the lapse of the 10th year)|
ANNUAL LICENSE COST
|Annual Fee||€ 8,500||No annual fee|
|Gaming Tax||[€ 4,600 per month]
€55,200 TOTAL PER YEAR
|Depends on revenue bracket
Annual revenue up to €5,000,000 – € 25,000
Annual revenue between €5,000,001 and € 10,000,000 – €30,000
Annual Revenue over €10,000,000 – € 35,000
|TOTAL ANNUAL LICENSE COST||€ 63,500||Maximum – € 35,000|
As the White Paper is still in the stage of a consultation, the changes brought to your attention are not final, and not all of them might be enforced. Nevertheless we work hard to keep you updated and aware of how the overhaul might influence your business activity in the future. Contact us today on +356 20103020 or by mail at firstname.lastname@example.org to discuss possible opportunities which may arise after the changes are enforced. Our team is well-equipped and experienced and will be happy to advise you on legal, gaming, corporate and tax matters to ensure efficiency and optimization of your business activity!