The online gaming industry's massive growth in the past few years has led to developments in the sector's licensing and regulation. It is essential for online gambling operators to be licensed and regulated in a reputable jurisdiction if they are to have any real chance of demonstrating their legitimacy to the world.
In selecting a licensing jurisdiction, gaming operators need to consider the following factors:
- Process of issuance and its complexity
- Compliance and regulatory requirements
- License application, issuance and annual fees
- Additional costs and expenses
- Jurisdiction's reputation
- Quality of supervision
- Target markets
There are a number of jurisdictions who issue licenses for the operation of online gambling (for example: Malta, Gibraltar, Isle of Man, Curacao); Lisences from these jurisdictions are not limited to their territories and allow - under the terms of these licenses - to offer products and services in the field of online gambling to customers located in many other countries.
The combination of licensing on the one hand and regulatory flexibility on the other hand attracts many companies from from the industry to choose these jurisdictions. it is the company's responsibility to examine the applicablility of these licenses in terms of the pecific regulations applicable in the jurisdictions in which teh company's customers are located.
Alternatively, there are many jurisdictions that issue licenses which are required by anyone wishing to offer online gambling services to residents of these jurisdictions. At times, the regulations allow licenses to be issued only for certian types of games (like in France) and a times the applicability of the licenses is significantly broad (like in England).
Other Jurisdictions which issue online gambling licenses include, but are not limited to, the Netherlands, Germany, Ausrtalia, Italy and Spain.
These jurisdictions continue to thrive and attract more eGaming companies. They have also created extensive eGaming ecosystems that include software developers, platform providers, game designers, and payment companies. Together with access to high quality professional and financial service providers, these ecosystems make operating from within these jurisdictions highly practical, because all the relevant parties can be found in the same place.
In parallel, regulatory environments in these jurisdictions are constantly changing, making acquiring sound advisory services and guidance on issues ranging from corporate structuring to licensing, relevant as ever. Mellius provides a variety of corporate services aimed at helping you setup a robust business that meets all of the sector's legal, corporate, and financial requirements including:
- Company formation
- Bank account opening
- Guidance on licensing
- Appointment of qualified officers (i.e MLRO)
- Establishment of physical presence (where required)
- Bookkeeping services
- Accounting services
- Payroll services
- VAT services