The Gaming Act (Cap 583), provides the legal framework for the provision of the Gaming Services in Malta.
As per the Act, gaming means an activity consisting in participating in a game, offering a gaming service or making a gaming supply;
The entity making the application is a Maltase company under the Companies Act (Cap 386).
Company includes:
a) A company,
b) Limited partnerships
c) Unit trust or
d) International holding companies.
At least one director (two in the case of a public company), who may also act as the company secretary in certain cases
The licensee will need at least 2 (two) shareholders who may be individuals or corporate.
The Applicant must must appoint at least one Key Official who shall also be a director of the company and is resident in Malta employ at least one individual who is licensed as a principal. The person appointed as a Key Official shall be subject to the MGA’s (Malta Gaming Authority) approval. The Key Official is the guardian of a remote gaming license as he / she is responsible to see that the operation is compliant with the Remote Gaming Regulations. He/She is considered as the main point of contact between the MGA and the licensee and must therefore necessarily be readily available when required by the MGA. He oversees the licensed gaming operation, carrying due representation and hence being able to take decisions and respond to the obligations stipulated at law. All the operations of the licensee should run through t he Key Official and any required reports should be formulated and submitted to the Authority under his guidance
The applicant must have a local Office registered in Malta
The Licensee shall establish an internal audit / audit committee in order to undertake the internal audit function of the company and which shall be independent for the management of the company or outsource.
The applicant must have indemnity insurance coverage acceptable to the MGA’s (Malta Gaming Authority)
The Applicant must have the prescribed minimum paid-up capital and is able to meet the prescribed minimum net liquid capital requirement in cash or readily marketable securities. The prescribed minimum paid-up capital is; Gaming Service Licence with a Type 1 and 2 approvals are required to retain a minimum share capital of € 100,000 while Gaming Licence with Type 3 and Type 4 approvals are required to retain a minimum share capital of € 40,000.