Obligations of a Maltese eGaming company 

Dear Iola, 

Hope my e-mail finds you well! 
In connection with the obligations of a Maltese Company please note the following:  

Besides the reporting obligations applicable to all companies, a gaming company will also have the following reporting obligations: 

• Monthly Tax Reporting. 
• Monthly Player Liability Reporting. 
• Bi-annual Industry Performance Return. 
• Ad-hoc obligations: addition of games and payment methods, changes to company officials and key roles*. 

*Key Roles: The MGA (Malta gaming authority) will require the company to fill the following key roles: 

• Operations. 
• Key compliance – responsible for the above-mentioned reporting obligations. 
• Risk and Fraud. 
• MLRO (Money Laundering Reporting Officer). 
• Data Protection. 
• IT Security. 
• Finance. 

Some of the above roles can be outsourced (except for the Operations key function generally held by the CEO). Having said that, having internal key function holders is better in terms of substance and will also help the application process. 

Gaming companies generally outsource the Key Compliance function and this is because it is considered beneficial to engage someone experienced with such reporting and more importantly who has an existing relationship with the MGA. Our associates in Malta have years of experience in holding such roles and very good relations with the MGA. Should you wish to appoint them, their fees for such services are as follows; 

1. Regulatory advice and reporting: €650 per month. 
2. Key Compliance Role (including all regulatory advice and reporting) : €950 per month. 
3. Directorship: fee would need to be discussed on the basis of the specifics of the case. 

As for the corporate part please note the following:

The fees that apply for the incorporation of a Malta Trading company is EUR 1,900 excl. VAT, including the full set-up and other registrations that are necessary for the respective company to be in a position to operate. Should there be more than one shareholder,  additional documentation needs to be submitted therefore the fee would increase slightly. In addition, third-party registry fees starting from €415 are to be paid to the authorities and may increase according to the value of the company’s share capital.  

Annual Fees: 

1. The company must file an annual return : €250. 
2. Preparation of Annual BO(Beneficial Owner) Form and combined register – €65. 
3. Have local registered address : €650 . 
4. Company secretary officer : €1000 . 

Please note there will also be accounting fees due but should the client decide to proceed ideally we will organise a call to understand in further the company’s activities/intended operations etc., in order to be able to quote for this service. 

We trust the above is clear and we look forward to your reply. 

Kind regards.