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Is Malta Still a Good Place to Start an iGaming Business?

 

October 21, 2022 (Investorideas.com Newswire)

Why is Malta the Perfect Place to Start an Online Gaming Company?

If you are familiar with online casino games, you must have noticed the small licensing logo that is displayed at the bottom whenever you open the application. Malta is the home of online poker and is considered the most viable place to start an online gambling business. But, since the region has already developed significantly over the years, you might wonder whether Malta can still be hailed as a good place to open an iGaming business. The answer is yes, but why so?  Well, it's simply because even though the business competition is increasing, the market is growing at a faster rate, and a good window for anyone interested in investing in the iGaming market of the small Mediterranean island nation still exists.

Malta - Free photo from Pixabay

How Malta Remains a Safe Hub for Online Gaming Businesses?

Although Malta is considered a safe haven for online gaming businesses, many people do not know the reason. It is quite simply because an online casino directed at a specific age group has a specialized clientele but yields better results due to its smaller but organized operation.

It is no wonder that an online casino having a master license attracts more players but involves more overhead and maintenance costs. However, any online gaming company will likely target a place where the overhead for setting up a business will involve lower overheads.

Let's look at it in more detail.

1. Favorable Location

The thumb rule for setting up any business is to pinpoint the location where it will be favorable to start its operations. The same goes for online gaming companies as well. You will always look for places where taxes are low, and growth is unbound.

As Malta belongs to the EU, it allows foreign gaming companies to set up business in a single market across all of Europe, besides having the protection and trust of all other member nations.

Mobile gaming – Free photo from Pexels

However, since the taxation structure is quite high, the businesses tend to keep their holding company as Maltese, but the owners and employees belong to foreign nations. For online businesses, diversifying locations becomes their biggest advantage, and every company tries to leverage it as much as possible.

2. Business Advantages

In Malta, there is no fixed tax rate for domestic companies. If any firm moves its entire company onto the island, it needs to comply with the generic 35% corporate tax rate. It is done to keep the majority of the island's market for the native business companies only.

However, if you are a non-resident foreign investor who is carrying out a business through a local bank account, you will only need to pay a 5% tax.

Besides this, the Maltese government is very welcoming to foreign investors who want to open a company and apply for a domestic bank account, which eases the business set-up process.

3. Trust-Based Industry

The online gambling industry stands upon the pillar of trust, very much unlike the traditional brick-and-mortar gambling industry. Malta is a good place for you to set up an iGaming business primarily because it is an EU member nation, and it has the trust and protection of all other EU members.

An Apple workstation – Free photo from Pexels

This is absolutely necessary for businesses that want to stay clean and earn profit through good operations. In online gaming, customers usually want to have entertainment more than make money. So, companies need to steer clear of any type of predatory behavior which can get their licenses canceled.

Here in Malta, the competition is clean, and companies can also bring their competitors into a 'cross-market' if they have separate clientele. In this way, the companies are able to trust one another and build a more positive outlook during the rise of the global markets.'

Having a low-stress business environment thus becomes a priority and can be found easily in Malta. It will allow you to work better and grow faster without having other people interrupt the process.

4. Continuously Growing Market

The online gaming industry has been on a steady rise in the last couple of years. In the United States alone, the industry rose by nearly 224% compared to the previous year and is not slowing down any time soon.

The lack of time and opportunity to visit actual brick-and-mortar casinos has compelled the online industry to flourish so overwhelmingly. The market reached its peak in the past two years, given the growth that occurred in that period.

Conclusion

Thus, if a company is able to find a good niche and grasp a good understanding of what its customers expect, it will make a flourishing business with excellent growth opportunities, and Malta has all of these!


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