Gaming Licence Application
The first step towards obtaining a gaming licence is setting up the company. BDO can assist with setting up a tax efficient system for carrying out gaming operations from Malta. Our corporate and legal departments will assist and guide you with all the documentation required for the incorporation of a company. BDO Malta is an end to end solutions provider and, thus, in a position to provide all the services required by a gaming entity in order to fulfil and maintain the statutory obligations under Maltese company law.
Duration of the MGA license process
Provided that all the necessary documentation and information is provided to the Authority, the process leading to the Gaming licence takes approximately twelve to sixteen weeks. The Malta Gaming Authority (MGA) classifies an application process into five different stages, these being:
1. Fit and proper
- This review will assess all information related to the people involved in the financing and management of the company, including all key individuals as well as the business viability of the operation to ensure that the applicant is fit and proper to conduct gaming business;
- Probity investigations with other national and international regulatory bodies and law enforcement agencies will be conducted.
2. Business Planning
- This includes an in-depth financial analysis of the business plan including a detailed forecast of the operation;
- The MGA will ensure that the company has prepared from a business strategy perspective by examining the marketing and distribution strategies, HR plan and growth targets.
3. Operational and Statutory Requirements
- This entails an exam on the instruments required to conduct the business to ensure that the operational and statutory requirements to meet the obligations prescribed by law and policy are in place;
- This process includes examining incorporation documents, the games, the business processes related to conducting the games, the rules, terms, conditions, policies, procedures and technical documentation of the gaming and control systems.
4. System Audit
- Here the applicant is required to implement and test the operation onto a technical environment in preparation to go live;
- This process will verify the live environment against the proposed application.
Upon successful completion, the Malta Gaming Authority (MGA) will issue a ten-year Gaming licence. Once the licence has been issued by the MGA, the applicant will be invited to implement onto a technical environment and will have 60 days to submit the Go Live declaration.
5. Gaming Compliance Audit
- Once the Gaming licence has been issued, the licensee must undergo several compliance audits of its operations;
- These gaming compliance audits are mandatory after the first year of operations and as instructed by the MGA.