Malta’s popularity as a jurisdiction of choice for eSports operators is developing at a steady pace, due in part, to the various competitions and events held locally. This combined with the country’s welcoming approach to innovative technological industries means that stakeholders and businesses within the sphere, are able to capitalise on growing interest in the sector both locally and abroad.
eSports is one of the world’s fastest-growing sports and in the age of the new digital revolution, it comes as little surprise that the Maltese government has recognised this and responded in a proactive and supportive way. The changes within this sector and the regulatory response in-country has created a stable and attractive environment where the eSports sector can flourish.
The concept of establishing, extending, or relocating an eSports operation in Malta is attractive for a number of reasons. Benefits include:
• Its fully fledged membership of the EU since 2004;
• Its use of the Euro as its currency;
• It being privy to some 70 double taxation treaties
• Its geographical positioning in the heart of the Mediterranean Sea;
• Its diverse, highly skilled and multilingual workforce driven by a professional work ethic.
• Its accessible and innovative, open to business, yet prudent, regulator;
• The jurisdiction’s solid reputation as a stable Eurozone economy;
• A highly competitive, cost-effective and tax-efficient jurisdiction;
• A sound technological infrastructure;
• All business being conducted in the English language, providing international clients with a more comfortable working environment in a Central European time-zone;
• Its financial sector benefiting from the jurisdiction’s status as a centre of excellence for remote, digital operations and e-commerce in general;
• The establishment of numerous reputable iGaming companies in the country;
• Its state-of-the-art telecoms infrastructure.
With the aim of nurturing this growing sector, the government together with the ongoing support of professional service providers, intends to create a dependable yet advantageous environment for eSports enthusiasts, players and businesses that operate within such industry.
The principal idea of this plan of action is to attract a number of different stakeholders, including video game developers currently operating from overseas. Malta is highly regarded as a business-friendly environment with a respectable technological infrastructure, further enabling companies, professional players as well as start-ups to benefit from the country’s geographical location and beneficial tax incentives. This in turn will ultimately allow stakeholders to reinvest their time and gains during their growth period as well as focus on their core business interests. A similar, successful approach has already been tried and tested with its iGaming, blockchain and Virtual Financial Assets industries which continue to go from strength to strength.
How BDO Malta can assist.
At BDO, our team of experienced professionals is dedicated to helping our clients succeed. We have many years of experience in the iGaming and Technology sectors and it is our mission and commitment to fully support our clients achieve their objectives in the most efficient and effective way possible.
We start the process by identifying our client’s goals and when these are sufficiently established, we determine the optimal course of action in order to accomplish the client’s business interest while ensuring that they satisfy all requirements.
Given the importance of technology in this rapidly growing sector, our firm by means of its Technology Advisory Practice is also in a position to assist with any technical aspect of the client’s current and/or anticipated operation. Our experienced IT and operations professionals work closely with clients to deliver sustainable business results scaled and tailored to the unique dynamics of their industries and individual needs of their business. Although different for each organisation, optimal IT solutions align risk protection investments with digital asset value to improve performance and efficiency.
To find out more or to ask us a question relating to your business needs, contact us here.