The iGaming industry is one of the fastest growing economic sectors, expected to grow to €25 billion by 2020. This success is the main motivator for new operators to establish iGaming businesses and for existing companies to invest further within the industry. Prospective iGaming operators have a number of options when it comes to establishing a licensed iGaming business.
At E&S, we can provide you with a number of attractive options in order to obtain your iGaming Licence. We can help you obtain a licence in several EU jurisdictions including Malta, the United Kingdom, Sweden and even Estonia.
Malta is perhaps the EU’s leading regulated jurisdiction and the primary choice for many operators seeking to establish an iGaming business. Overall, Malta is a safe jurisdiction with a regulated - rather than restrictive - market and offers a transparent approach to iGaming.
Malta offers numerous incentives for operators seeking to establish an iGaming business locally. These include reduced income tax rates on personal income and exemptions on patent-derived income. Further advantages include double taxation relief and refunds on dividends, apart from other advantages afforded to individuals and companies relocating to Malta.
Another incentive is the Malta Gaming Authority’s implementation of a Sandbox Framework within the remote gaming sector. This Sandbox enables the acceptance of virtual financial assets, virtual tokens, and distributed ledger technologies as means of payment. This offers a good opportunity for iGaming operators who want to integrate VFAs and DLTs into their operations. Considering this scenario, it is easy to see why major operators have relocated to Malta.
The United Kingdom
Another jurisdiction where one can establish an iGaming business is the UK. The UK has the most flexible market in the EU when it comes to approval to operate as long as one possesses the proper gambling licence.
The UK Gambling Commission, which issues gambling licences, is very effective in enforcing its regulations, ensuring that high standards are upheld This is a great advantage for those iGaming operators with a licence as they have less competition. The UK has an established gambling culture that boasts one of the best and ideal licensing setups around the world. This makes the UK a prime choice for iGaming operators.
Estonia is one of the newer countries which has its own gaming regulatory framework. Any operator wishing to open an iGaming business in Estonia must obtain two types of licences. One covers legal obligations relating to gambling and the other relates to conduct gambling operations. There are various requirements for licence applicants which include specific licensing fees and share capital. Estonia offers a number of advantages for those who want to establish their iGaming business including its e-residency programme and start-up visa. Although still a developing market, Estonia offers a lot of promise to the iGaming operator.
Sweden is the newest country to launch its iGaming market, doing so this January, with operators now able to apply for a gaming licence there. The list of operators setting up an iGaming business presence in Sweden now includes major iGaming players. In Sweden, operators must pay a fixed fee for a licence.Sweden’s iGaming framework contains specific rules and regulations as part of the new regime including a self-exclusion scheme. Although licence holders have to abide by various specific requirements, Sweden is nonetheless an emerging iGaming player.
At E&S, we can assist you in selecting the best EU jurisdiction suited to your needs and in all other related gaming matters. We can help you obtain your licence from the respective gaming authorities as well as recommend trustworthy associates who provide key official services. Additionally, we can assist clients in complying with licensing requirements and obligations and provide any other legal, corporate, book-keeping and other ancillary services.