Casinos.co.uk: Casino News Archive
Wednesday 7th April 2004
Malta Licensing
Until recently Malta’s legislation only allowed online betting offices to operate. The Malta Lotteries and Gaming Authority has revised the regulations whereby other Gaming activities including online casinos, casino-style games, betting exchanges and lotteries could be allowed after an application is submitted and a license is granted.
The Remote Gaming Regulations 2004 now offers 4 classes of Remote Gaming Licenses; Class 1 Remote Gaming License shall be a remote gaming license, Class 2 Remote Gaming License shall be a remote betting office license or a remote betting exchange office license, Class 3 Remote Gaming License shall be a license to promote or abet gaming from Malta and Class 4 Remote Gaming License shall be a license to host and manage remote gaming operators, excluding the licensee himself.
Once an application for a license is submitted and obligations are fulfilled, a Malta company is incorporated and a license is issued in the name of the Malta Company. The unique feature of the Malta Company is its 'onshore' status and once the shareholders are non-resident, very interesting tax benefits apply. The Maltese Government has the objective of providing regulations that are competitive, safe for players, serious and more importantly not unnecessarily bureaucratic, ensuring vigorous protection for users of remote gaming and that would fit in with Malta's long-established and reputable financial services sector.
By Mr Michael J Zammit, Commercial Services Bureau (CSB) Ltd, Malta – April 2003.
Source:OnlineCasinoNews
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