There is a document in the iGaming industry that carries more weight than any other single piece of paper. It is not a business plan, not a term sheet, not a partnership agreement. It is a licence issued by the Malta Gaming Authority — and the companies that hold it have access to payment processors, banks, and affiliate networks that simply will not deal with anyone who does not.
The MGA licence is not a rubber stamp. It is the result of one of the most demanding regulatory processes in the gaming industry — background checks that reach into shareholders' personal finances, technical audits that examine every line of code in the gaming platform, and an ongoing compliance regime that does not relax after go-live.
This is not a criticism. It is why the licence is worth having.
Why Malta for Gaming
Malta hosts 315 licensed gaming companies holding 323 active MGA licences. The iGaming sector contributes approximately 6.7% of Malta's gross value added. This concentration of regulated gaming activity has created an ecosystem — legal advisers, compliance specialists, payment processors, technical auditors, system developers — that exists nowhere else at this density outside London.
An MGA licence also provides something that money cannot directly buy: credibility. Players trust MGA-licensed operators. Banks accept them. Payment processors integrate with them. Affiliates promote them. The licence is a market access tool, not just a regulatory requirement.
The Four Licence Types (B2C)
B2C gaming licences in Malta are structured around product type. One licence can be tagged with multiple types depending on the product mix offered.
| Type | Covers | Annual Fee | Min. Compliance Contribution |
|---|---|---|---|
| Type 1 | Casino games (slots, table games, RNG-based) | €25,000 | €15,000/year |
| Type 2 | Fixed-odds betting (sports, esports, virtuals) | €25,000 | €25,000/year |
| Type 3 | Peer-to-peer games (poker, exchanges, bingo) | €25,000 | €25,000/year |
| Type 4 | Controlled skill games (DFS, esports tournaments) | €10,000 | €5,000/year |
The non-refundable MGA application fee is €5,000. Gaming tax is an additional 5% of gaming service revenue, payable to the Commissioner for Revenue. Compliance contributions are calculated monthly on qualifying gaming revenue, with rates that decrease at higher revenue bands.
The Application Process
Step 1 — Company and shareholding setup. Before any MGA application, the Malta entity must be incorporated. All shareholders with 10%+ ownership (UBOs) must be fully disclosed. Corporate documentation — M&A, share certificates, director resolutions, proof of paid-up capital, legitimate source of funds — must be in order.
Step 2 — Fit and Proper checks. Every UBO, director, and Key Function nominee is assessed for probity, financial standing, and professional competence. Police clearance certificates (issued within the last 3 months) from every jurisdiction of residence in the past five years. Personal bank references. Source of wealth documentation. Sometimes MGA interviews. There are no shortcuts here.
Step 3 — Business plan and financial forecasts. A detailed business plan covering product verticals, target markets, GGR forecasts, compliance cost modelling, and responsible gaming strategy. The MGA reads these carefully.
Step 4 — Policies and procedures. A complete compliance manual: AML/CFT policies compliant with FIAU requirements, responsible gaming protocols, sports integrity procedures (for Type 2), player fund segregation and withdrawal policies, data protection framework. These are not templates — they must reflect the actual operating model.
Step 5 — Technical setup and system audit. The gaming platform, wallet infrastructure, RNG systems, and control-system logging must be audited by an MGA-approved independent auditor before go-live. This audit is not cursory — it examines game fairness, transaction integrity, wallet security, and reporting feeds. Failures here delay launch.
Step 6 — Key Function nominations. Eight Key Function roles must be filled and MGA-approved: CEO, Operations Manager, Compliance Manager, Legal Affairs Officer, MLRO, Data Protection Officer, Technology/Information Security Lead, and Internal Audit. No role can start without MGA approval. Certain combinations are prohibited — the MLRO cannot simultaneously be the CEO, DPO, or Internal Audit officer.
Realistic Timeline
Preparation phase: 4–8 weeks. MGA review plus Fit and Proper checks plus RFI responses: 8–14 weeks. System audit and staging sign-off: 2–4 weeks. Total realistic window: 14–26 weeks for most B2C licence projects, assuming documentation is complete and the operating model is straightforward. Complex ownership structures or high-risk target markets extend this.
The Banking Reality
An MGA licence does not guarantee a bank account. Banks treat gaming as high-risk and conduct their own enhanced due diligence regardless of regulatory status. Player fund segregation accounts, high-risk merchant accounts for card processing, and multi-currency settlement accounts all require separate applications to banks and payment processors — each with their own timelines and requirements.
Start the banking process in parallel with the MGA application, not after. Companies that wait for the licence before approaching banks discover that banking delays can equal or exceed the MGA timeline.