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On-line casino registration

When speaking about gambling games is it worth to mention that just some time ago the amateurs of such affairs could play only in the ground-based casinos which have never been numerous (and it is same way) up to the present day.

And gambling business evolution has forged ahead. Gambling business canvassers recognized they needed to be closer to its clients but realized that some potential clients could not reach the ground-based casino. That is how the idea of online-casino appeared at about 10-15 years ago when any gambling games’ amateur could play having at least one computer at home.

Now there are more online gamblers than there have ever been visitors in the ground-based casinos and it is obvious that extension of online-casino is fatally. The more players will gamble, the more benefit will be brought into this industry. Concerning gambling business we would like to introduce gaming operation in Costa Rica and Malta.

Gambling Industry in Costa Rica

The number of more than two hundred online-casino companies located in Costa Rica is not coincidentally. The legislation of the country is very friendly and does not prohibit online-casino activities in its territory. Indeed, the activity does not need a special licence. The only strict requirement to be followed is to prevent the residents of Costa Rica to bet in these online-casinos.

The Articles of Incorporation of such company does not officially formalize that the company is concerned in gambling for money. If you want to incorporate an online casino in Costa Rica the following phrase is recommended to be formalized as a main charter: “the company will be able to undertake, conduct and execute all types of ludic activities and online entertainment, to promote and advertise interactive gaming services of all kind”, that will allow to receive a local licence. It is a must to set up an office and also to hire some maintenance staff (i.e. to make a company active).

It is necessary to mention that this sector of economy in Costa Rica has been prosecuted by the US Government in recent years, that is why it is possible to set up a company in Costa Rica but it is difficult to guarantee that the company will be working as a casino.

Gambling Licencing Policy in Malta:

Online casino in Malta must be licenced. The Lotteries and Gaming Authority (LGA) is a public single regulatory body that is responsible for the governance of all forms of gaming in Malta. The licence is commonly valid for a period of 5 years. There are 4 different types of licensable activities:

  1. Class 1 — online-casino, skill games, online lotteries;
  2. Class 2 — online betting (totalizator);
  3. Class 3 — bingo, poker, game portals;
  4. Class 4 — operators hosting and managing online remote gaming operator;

And each activity requires a separate licence.

The following variants of licence classification can be obtained:

Class 1 on class 4 - companies (operators) managing their own risk on repetitive games (casino-type games, skill games and online lotteries) operating on a third party platform duly licenced by the Lotteries and Gaming Authority.

Class 3 on 4 - operators promoting and abet gaming from Malta & taking a commission from promoting and/or abetting games (P2P, poker networks, betting exchange and game portals) operating on a third party platform duly licensed by the Lotteries and Gaming Authority.

Online Gaming Corporate Taxation:

Like any other Maltese company the corporate vehicle for an online gaming operation from Malta, is subject to a corporate tax of 35% on profits.  Shareholders benefit from a substantial refund of the tax paid by the company, whereby on distribution of dividends they have the right to claim certain refunds of the tax paid by the company. The effective rate of tax payable by the company of around 5% on profit is applicable.

Lotteries and Gaming Authority Gaming Tax:

Class 1 – €4,658.75 per month during the first 6 months; subsequently €7,988.12 per month;

Class 2 – 0.5% on gross amount of stakes accepted;

Class 3 – 5% on gross income (gross income is defined as revenue from rake less bonus, commissions and payment processing fees, i.e. e-commerce fees);

Class 4 – No Gaming Tax for the first 6 months; €2,329.37 per month for the following 6 months; €4,658.75 per month thereafter

Class 1 on Class 4: €1,164.69 per month

Class 3 on Class 4: 5% on the real income per month.

Main stages to obtain a licence:

  1. Setting up a company,
  2. Submission of the application and the corporate documents,
  3. Providing necessary personal documents concerning all members of the company: full information about the structure of the company, shareholders, managers and directors, including the curriculum vita of the directors, beneficiaries and all authorized representatives, certified copies of their passports/IDs and driving licences, two bank reference letters and one commendatory letter from a lawyer or an auditor for each person, certified true copies of the credit cards’ history, and utility bills.
  4. Appointing of a «key manager» for the business activity in Malta,
  5. Detailed business plan for the activity assumed showing the amount of the authorized capital and the income sources of the invested funds,
  6. Setting up an office in Malta including phone, fax and internet lines registered on the company’s address upon records,
  7. Types of the software to be used for credit cards processing including the security protocols, coding, limit access, data safety, antivirus programming.

STEP 1. SUBMITING THE DOCUMENTS AND CONFORMATION

To start the process of obtaining the licence it is necessary to submit an Application Form and Personal Declaration for each member of the company. In case any of the members is a legal entity it is required to provide the corporate documents of the entity. There are also additional documents to be submitted with the application:

  1. Affirmation and Consent;
  2. Authorization to Release Information;

Each shareholder and a “key manager” of the company must provide the following documents:

  1. The copy of birth certificate certified by notary
  2. The copy of passport certified by notary
  3. 4 personal pictures (3 × 4)
  4. The reference of the company’s structure, shareholders and managers
  5. Police reference as a reference about any criminal issues in the past
  6. Bank references and a reference from lawyer
  7. Other countries’ licences if there are any
  8. The document confirming that all the documents are the real copies of the originals
  9. The copy of the business plan

STEP 2. BUSINESS ACTIVITY AND TECHNIQUE DETAILS

When the submitted documents are fully checked and confirmed the Authorities will go to the second step and require additional documents. So the second step is devoted to setting up a Maltese company and submitting the documents of incorporation.

  1. Certificate of Incorporation
  2. Memorandum and Articles of Association
  3. The application of the legal entity
  4. Detailed description of technique to be used in managing of online-casino (Types of the software to be used for credit cards processing including the security protocols, coding, limit access, data safety, antivirus programming.
  5. Payment system
  6. Agreements and contracts with partners and agents

STEP 3. CONTROL AUDING OF THE TECHNIQUE

All requirements are given after all the documents will be checked; the Authorities will inform the applicant in advance.

Apollonium Tax and Legal Consultants assists our clients with online-casino registration for offshore companies and also in such European jurisdictions as Malta.