Prior to these amendments, the exemption from royalties and similar income was restricted to patents in respect of inventions.  The legal framework -  Legal Notice 429 of 2010, the Deduction on Royalties derived from Patent Rules (“the Rules”) provided a tax exemption on royalties and similar income from patents and inventions on or after 1 January 2010, provided that an application regarding qualified patent was made to Malta Enterprise, the Government arm responsible for the incentivising of foreign investment and industrial development in Malta.

The new amendments, signal a welcome step to investors, primarily because copyright, contrary to patents, are subject to less stringent registration criteria, and secondlybecause copyright of its very nature, extends protection to literary and artistic works in the widest possible sense, therefore allowing more investors the possibility of this tax exemption.

]]> http://www.fbsmalta.com/3850/malta-extends-exemption-for-royalties-deriving-from-copyright/feed/ 0 http://www.fbsmalta.com/3827/participating-holding-given-wider-scope/ http://www.fbsmalta.com/3827/participating-holding-given-wider-scope/#comments Wed, 30 May 2012 07:05:11 +0000 admin http://www.fbsmalta.com/?p=3827 May 2012

Recent amendments to the Income Tax Act have extended the scope of participation exemption and participating holding.  Currently, a participation exemption is applicable on income or gains derived from a participating holding or upon the transfer of such participating holding.  However, until now the fundamental precept was that the participating holding was only possible where the holding by the Maltese company was held in a body of persons constituted, incorporated or registered similar to a partnership en commandite the capital of which is not divided into shares – more reading on our website – http://www.fbsmalta.com/malta-tax-structures-2/tax-treatment-of-the-malta-company/

However, by virtue of the new amendments the participating exemption has also been extended to holdings by a Maltese company in a collective investment scheme constituted, incorporated or registered outside Malta which is similar to a partnership en commandite as aforesaid.  This is a welcome step promoting the use of Maltese special purpose vehicles as investment vehicles into collective investment companies.

Malta had the lowest labour tax rates at 21.7%, compared with a tax rate of 41% for France. In terms of standard VAT rates, Malta has the third lowest rate within the EU, with an applicable rate of 18% (precede by Cyprus at 17% and Luxembourg at 15%).  In terms of personal income tax, Malta had a maximum tax bracket of 35% – on par with the Eurozone Member States. With regard to corproate income tax, Malta has a corporate income tax of 35% (although with the credit imputation system, shareholders would be entitled to a tax credit, leaving an ultimate tax leakage of just 5%). At 5% ultimate tax leakage, Malta has the most favourable tax regime within the EU ( followed by Cyprus and Bulgaria at 10% and Ireland at 12.5%)

With Scandinavian investors representing a significant proportion of its licence holders, the execution of this MoU marks an important step for the Maltese Lotteries and Gaming Authority, and helps cement a common understanding of the respective regulatory approaches to remote gaming in both countries, in a bid to promote cooperation and provide operational assistance to each other.   The most salient features to the MoU, include inter alia, the exchange of information to facilitate the respective licensing processes, compliance standards, and the implementation of a series of measures aimed at protecting young and vulnerable individuals.  The MoU paves the way therefore to an increased cooperation, which in practice should circumvent the unnecessary duplication of requirements and controls.  The MoU further cements Malta’s stance that mutual recognition and adherence to high standards should be paramount factors, and that such matters could be secured, without the need to multiple-licences.

• Formation of Company & full post-incorporation structuring;
• One corporate bank account application with a local bank;
• Income tax & VAT registration;
• full set of corporate documents

The new pricing comes with no strings attached with the same seamless level of service that thousands of satisfied customers of Focus Business Services have become accustomed to.  Contact one of our officers to initiate the incorporation of a Maltese registered company and start reaping the full benefits of an onshore, low-tax, EU jurisdiction. Simply contact us by email on enquiries@fbsmalta.com or phone 00356 2338 1500

The agreement, will serve as a further incentive for the flow of investments between the two countries.   There are close to seventy (70) companies registered in Malta, with a predominantly Israeli shareholding, mostly in the investment services and remote gaming industry.

The signing of the agreement is a welcome step and a milestone towards final ratification, adding to the ever expanding portfolio of double tax treaties entered into by Malta in the past months, including, amongst others, the crucial double tax treaty entered into between Malta and the United States of America.

Continue reading Malta Double Tax Treaties

Contact one of our officers to initiate the registration process for vessels under the Maltese Flag and start reaping the full benefits of an onshore, low-tax, reputable, EU jurisdiction. Simply fill in the contact box below or contact us by email on enquiries@fbsmalta.com or by calling at +356 2338 1500

The major contributor to this expansion can be explained in the number of domiciled funds, particularly Professional Investor Funds (PIFs) that have marked an impressive 65% increase from 2011 – pushing the number to over seven hundred (700) licensed funds – an impressive achievement by any standard, and rendered even more significant given the relatively recent regulatory framework to accomodate such growth.  This strong momentum has resulted in even further involvement for the ever flourishing number of Malta fund administrators and fund managers in Malta, which are cementing their position on the island.

Focus Business Services offers bespoke advice on all matters pertaining to the licensing of Professional Investor Funds (PIFs) . Simply fill in the contact box below or contact us by email on enquiries@fbsmalta.com or by calling at +356 2338 1500

The issuance of an EU VAT – paid certificate at exceptionally low rates were already possible through the Malta yacht leasing scheme, through bespoke guidelines issued in 2007. The Cyprus Yacht Registration Scheme bears many similarities to its Maltese counterpart, and with applicable VAT rates as low as 3.4% offers a genuine and interesting alternative.

Try our new online Yacht VAT calculator for an instant, comparative calculation of the applicable rate of VAT for both jurisdictions – together with a breakdown of the applicable monthly lease instalments.

With full-fledged offices in both Malta and Cyprus, Focus Business Services can offer you the most cost-effective solution leading to the issuance of the EU VAT Paid Certificate in either jurisdiction. Contact one of our officers to start the process and avail oneself of the most preferential Yacht Leasing Scheme. Simply fill in the contact box below or contact us by email on enquiries@fbsmalta.com or by calling at +356 2338 1500

The agreement, which will eliminate hinderances stemming from double taxation, will act as a further catalyst for the flow of investments between the two countries. The signing of the agreement with Bahrain means that Malta has entered into double tax treaties with an increasing number of jurisdiction in the Persian Gulf. Apart from Bahrain, Malta not has Double Tax Treaty Agreement with Qatar, the United Arab Emirates and Kuwait, in addition to the Convention on the Avoidance of Double Taxation signed with Saudi Arabia on 4 January 2012.

This new infrastructural platform follows the virtual office in Cyprus and serviced offices in Cyprus are being offered by the Focus Business Services Group in its quest to offer clients a holistic and fully comprehensive service package.  Video conferencing facilities circumvents the need for clients to set up one-to-one private meetings with our partners, resulting in a significant cost saving exercise to clients, and vastly superior to teleconference calling.  Furthemore, with connections in Greece, Cyprus and Malta, it is possible to have access to several of our partners, located in various parts of the world, essential when one is discussing multi-jurisdictional tax and corporate structures.

Seamless communication is rendered possible through the latest cutting edge technology, with life-size resolution, HD sound, large flat screens (65 inches) and seamless state-of-the-art noise cancelling microphone system, all delivered in real time. Click here to request a meeting

Clients may make use of these video conferencing facilities through any other serviced office facility, such as regus, or their own platform.  Contact one of our directors, Koulla Loukidou (koulla.loukidou@fbscyprus.com /+357 2245 6363) to set up a video-meeting.

The main drivers towards reform to the current UCITS III regime have been summarised as the following:

• Simplified Passporting for UCITS fund
  The implementation of a “single passport” regime shall simplify the Passporting process, slashing down the notification procedure from 2 months to a maximum of just 10 working days;

• Introduction of a full EU passport for UCITS managers
  Under the current UCITS III directive, the UCITS manager had to be licensed in the same domicile of the UCITS fund. This requirement shall now be removed, allowing UCITS managers full passporting rights, under the freedom of services and establishment to manage funds in any EU member state. This shall allow UCITS managers to benefit from economies of scale and increase the need to forum shop for the best domicile of choice – a factor that, given Malta’s optimum tax efficiency afforded to fund managers (ultimate tax leakage of 5% or less) should swing the balance decisively in favour of Malta as a domicile of choice.

• Master Feeder Structures
  UCITS IV shall allow the creation of Feeder UCITS Funds investing between 85% to 100% of its assets in units in a Master UCITS Fund, thereby maximising greater asset pooling

• Cross-Border Mergers
  Harmonisation rules shall be harmonised, thereby greatly facilitating the merger of UCITS Funds licensed in different jurisdictions.

• Key Investor Information Document
  The Simplified Propectus is being retired and replaced by an investor friendly standardised fund fact sheet, with the standardisation of and non-technical wording, aimed at affording investors greater protection.

A full (12) month transitional period for the replacement of the simplified directive with the Key Investor Information Document shall be allowed. Read in full about Malta UCITS

The agreement, which will circumvent hinderances stemming from double taxation, will act as a catalyst, further incentivising the flow of investments between the two countries.   The signing of the agreement is a welcome step and a milestone towards final ratification, thereby increasing the number of double tax treaties entered into by Malta in the past months, including the crucial double tax treaty entered into between Malta and the United States of America, the Republic of Ireland and Greece.

Continue reading Malta Double Tax Treaties

Albania, Algeria, Aruba, Bahamas, Bahrain, Barbados, Bosnia and Herzegovina, Brazil, Bermuda, British Virgin Islands, Cayman Islands, China, Croatia, Egypt, Georgia, Gibraltar, Guernsey, Honduras, India, Indonesia, Iraq, Isle of Man, Kosovo, Jersey, Jordan, Kazakhstan, Kuwait, Lebanon, The Former Yugoslav Republic of Macedonia, Malaysia, Marshall Islands, Monaco, Montenegro, Morocco, Oman, Panama, Philippines, Qatar, Russia, Saint Lucia, San Marino, St. Kitts and Nevis, St. Vincent and the Grenadines, Saudi Arabia, Serbia, Singapore, South Africa, Syria, Tunisia, Ukraine, United Arab Emirates.

Continue reading Malta Aviation

Side pockets allow for the designation of an asset as illiquid or hard to value and segregate these assets from the main pool of assets.  Only existing participants in the fund acquire units in the side pockets (calculated in proportion of their interest in the side pocket asset).  The other classes of units within the sub-fund will cease to have an interest in the illiquid assets.

The Offering Memorandum of the Collective Investment Scheme would need to include in a clear and unequivocal manner, the circumstances where side pockets may be employed, as well as the policy for transferring assets, including the nature of the assets.  Limits on the size of the side pockets including maximum percentage of the fund / sub-fund should also be disclosed, as well as the valuation methodology of the assets in the side-pockets, as well as the relevant risk warnings should also be clearly delineated in the offering memorandum.

Continue reading Professional Investor Funds.

Croatia has concluded another two policy chapters leading to EU Membership and has now closed 30 out of 35 chapters.  EU Membership would serve as a catalyst to further bolster the already excellent economic ties existing between these two countries.  At present, Malta and Croatia have signed and ratified one of the most advantageous double tax treaties, the most salient features may be summarised as follows:-

• Dividends paid by a Croatian subsidiary to its Maltese holding is subject to a tax charge of just 5% of the gross amount of the dividends;
• Interest charged in Croatia and payable to a resident in Malta are subject to Maltese tax (usually nil);
• Royalties charged in Croatia and payable to a resident in Malta are subject to Maltese tax (usually nil)

EU Membership by the former Yugoslav republic, shall further incentivise investment, with the transposition of EU Directives, as well as the elimination of import and custom duties.

Continue reading Malta Double Tax Treaties

In furtherance to the enactement of sunset provisions, citizens from the EEA/Switzerland and their family members shall not need to apply for an employment licence after the 30th April 2011, thereby expediting the process of working in Malta for these citizens.

Continue reading Malta Employment and Labour

Pursuant to the approval of the aforesaid guidelines by Ecofin, the Maltese Commissioner of Inland Revenue has issued guidelines stating that interest received from sources situated outside Malta is taxable in Malta and do not benefit from an exemption related to income from participating holdings under the Income Tax Act or under any other law.

It is hereby being clarified that income from a loan, including a loan that has characteristics of both debt and equity e.g. where the lender is entitled to voting rights, to profits etc;  shall be considered to be interest for the purposes of Article 4(1)(c) of the Income Tax Act and is not considered to be income from share capital or from an equity holding for the purposes of the Income Tax Act.

Continue reading Malta Income Tax

Within thirty (30) days from the end of the half yearly period, every igaming company must file interim financial statements showing the licence holder’s results.  Like all Malta companies, audited financial statements must be prepared and filed with the Maltese registry of companies.  An additional set of financial statements has to be filed with sixty (60) days from the end of the company’s financial year end.  All accounts, whether interim or audited financial statements,  must comply with international financial reporting standards (IFRS).

The presentation of accounts is important for a number of reasons, not only to present the shareholders of the company with a correct understanding of the performance of the company, but also for:-

• Calculation of gaming tax and corporate income tax to which the igaming company is subject; and
• To protect players from insolvent companies (this may be a cause for the suspension of an igaming licence).

Continue reading Remote Gaming Licence

• Dividends paid by a Spanish subsidiary to its Maltese holding shall, provided the Maltese company holds over 25% equity participation be totally exempt from tax.  Where the equity participation of the Malta company is below the aforesid threshold, the tax so charged is limited to just 5% of the gross amount of the dividends;
• Interest charged in Spain and payable to a resident in Malta are subject to Maltese tax (usually nil);
• Royalties charged in Spain and payable to a resident in Malta are subject to Maltese tax (usually nil)

For this reason, it is possible for investors to reap full benefit of  the double tax treaty provisions by interposing a Maltese holding between a Spanish trading company and the ultimate beneficial owner.

Continue reading Malta Double Tax Treaties (Summary Tables and Full Text)

The LGA shall require that the licence holder retain a minimum share capital commensurate to the gaming risk of the operation. Therefore, different rules apply for each class licence. The LGA reserves the right to recommend such minimum share capital in proportion to the methodology set forth in the business plan, however as a rule of thumb, the LGA shall require the applicant to have the following minimum issued share capital requirements:

• Class 1: Games based on repetitive events e.g. Casino / Lotteries / Slots / Arcade Games / Bingo ; - EUR 100,000;
• Class 2: Gaming risk on markets based on singular events (betting) e.g. Sports Betting; – EUR 100,000;
• Class 3: P2P / multiplayer games and betting exchanges such as Poker rooms, Poker tournaments etc; – EUR 40,000;
• Class 4: Operators providing a host platform from which other licensees can operate – EUR 40,000

Continue reading Malta remote gaming licence

• Taxing rights in respect of certain classes of income are restricted to one of the two countries concerned (usually the country of residence of the recipient).  Indeed, in terms of a number of treaties concluded by Malta, certain foreign income remitted to Malta qualifies for a reduced withholding rate of foreign tax (such as dividends, interest or royalties) or is exempt from foreign tax (such as private pensions and to certain capital gains);
• Where income remains taxable in both countries, relief is achieved by requiring the recipient’s country to allow a credit against its tax for source country tax.  Treaty relief is generally provided in the form of an ordinary credit with per country and per income limitation, whereby the overseas tax suffered, limited to the Malta tax charge on the income is allowed as a credit against tax chargeable in Malta.

 Click here for a complete and holistic overview of all applicable double tax treaty rates applicable to dividends, interest and royalties.

The Maltese Companies Act does not allow for the issuance of bearer shares.  Consequently,  there are no restrictions for a Maltese registered company to open a bank account in Malta.  Importantly, there are no statutory restrictions whereby Maltese companies must open a bank account solely with locally licensed banking institutions.  Maltese companies can open bank accounts in any jurisidiction (onshore and offshore).  This ensures maximum flexibility to the promoters of the company, and also a healthy diversification of banking products and alternatives.  Even the share capital of a Maltese company may be deposited with any bank (local or overseas).  The registrar of company shall not refuse the incorporation of a company, insofar that documentary evidence of the remittance of  the share capital by means of a bank letter, bank slip or equivalent document may be presented.  Even in licensable activities such as remote gaming and financial services, the respective regulators shall allow for the opening of bank accounts in any reputable jurisdiction, EEA or otherwise.

At Focus Business Services we realise that efficient banking solutions are the cornerstones of a successful business.  We pride ourselves at providing a holistic solution to clients, which includes the opening of bank accounts, both for individual and/or corporate clients.  We can assist clients in expediting the opening of bank accounts with all local retail banks.  Furthermore, our depth and expertise in several jurisidictions, including the UK, Cyprus, Greece and the Seychelles allows us to provide a number of alternative banking solutions, bespoke to clients needs, as corroborated by the bank references issued by some of the major banks as evidence of our group’s unblemished reputation.  We can assist you n the opening of a bank account, even if you are not resident nor domiciled in Malta, and you wish to have a temporary or secondary banking solution.

The opening of a bank account is also important for compliance with the ongoing requirements of the Permanent Residence Scheme,  as permanent residents must furnish evidence of their remittance of the statutory allowance in Malta, via a bank account.  Furthermore, the opening of a bank account in Malta is also important for tax planning reasons.  In the case of corporate entities, the opening of a bank account constitutes additional evidence that the company’s effective management and control is being exercised in and from Malta.  In the case of individuals, the opening of a bank account may point at the establishment of residence or domicile in that particular jurisdiction, with potentially important fiscal consequences.

Presenting clients with a vast array of banking solutions  is particularly important, in times when confidentiality and professional services have become fundamental requisites for high net worth individuals and body corporates alike.

Contact one of our officers to initiate the opening of a bank account in Malta or any other jurisdiction.  Simply fill in this contact box below or contact us by email on enquiries@fbsmalta.com

We are committed to providing you with a swift solution best suited to your needs.

White label partners are confined to the execution of two matching trades (one with the client and one offsetting trade with another principal) entered at the same time and price, with the white label partner acting as counterparty to both transactions, meaning that their exposure is significantly less than those of forex traders dealing on own account.

Consequently, white label partners shall require a Category 2 licence -  “Licence Holders authorised to provide any Investment Service, and to hold or control Clients’ Money or Customers’ Assets, but not to operate a multilateral trading facility or deal for their own account or underwrite or place instruments on a firm commitment basis.”

Category 2 licence holders are subject to a significantly lower share capital of EUR 125,000 compared to EUR 730,000 (for a forex trader dealing with own funds)  and have to have own fund which are higher than either (i) the initial capital; (ii) the sum of all the risk components calculated in terms of the rules but excluding the operational risk component; or (iii) fixed overheads requirements.

The favourable corporate tax treatment resulting in an ultimate tax leakage of just 5% is applicable also to white label partners. View full requirements about Forex in Malta.

Conversely shares in listed gaming companies without exposure to the US market have rocketed overnight, with the aforesaid closure signalling an increase in their market share.

Malta remains an attractive option to operators seeking an igaming licence in a well-established, efficient and reputable i-gaming centre.  The  first E.U. member state to regulate remote gaming, Malta has asserted its role as a leading contenter in the igaming industry, winning plaudits for the flexibility and thoroughness of the  Remote Gaming Regulations (L.N 176 of 2004) combined with an attractive fiscal treatment applicable to Maltese licence holders.  To date, over 350 licensed gaming companies, including some of the most prestigious names in the industry, have enjoyed the protection afforded by the Maltese regulatory regime.  Continue reading Malta Remote Gaming Company

In the case of non- EU/EEA citizens (“third country nationals”) a work permit will only be issued if the employer and/or the applicant can show that there are no suitably qualified Maltese nationals available for employment.

View full details on how to acquire residence in Malta and a work permit in Malta.

For bespoke advice on Residence and Work Permit, please click here to contact our tax advisors or send us an email on enquiries@fbsmalta.com

It may well be held that the Malta Remote Gaming Regulations have been a precursor on this matter.  Enacted in 2004, the aforesaid regulations regulate gaming by remote means, an interpretation which includes but is not limited to any form of distance communication, including internet, digital TV, mobile phone technology, telephone and fax.  It is now perfectly possible to obtain a remote gaming licence for games to be provided solely on mobile devices or downloadable as applications.  Continue reading ”Remote gaming licence”.

The agreement  is intended to eliminate barriers to cross border trade and investment while preventing tax evasion. It is designed to ensure that US and Maltese citizens are taxed only once on their profits and income, and to limit withholding payments on dividends, royalties and other unearned income.

As a result of this agreement, the US and Maltese authorities have agreed not to tax business income derived from sources within their countries by residents of the other country unless business activities by the foreign person or business are substantial enough to constitute a permanent establishment.

Residents of one country providing services in the other also are not subject to tax in that country as long as their activities do not exceed specific minimums.

Under the agreement pensions and similar payments are taxable only by the country which pays them, even if the person is resident in the other country. Some payments, such as dividends and royalties, are taxable by either country, but there is a maximum withholding of 10 per cent. However, a tax credit must be allowed in the other country if, for example, the county which is the sources of a dividend assesses tax at the times it is paid.

The double taxation agreement cannot be applied in a way which will deny any taxpayer of either country any benefits he would have been entitled to under the domestic law of his country or under any other treaty between Malta and the US.

The agreement stipulates that countries cannot discriminate, i.e. they cannot tax a resident of the other country at a higher rate than they would have taxed their own citizens under the same circumstances.

View all Malta Double Tax Treaties or continue reading full text of United States – Malta Double Tax Treaty.

Malta has increased its clout as an alternative fund domicile to London, Switzerland, Luxembourg and the Republic of Ireland as a top European location for hedge fund managers keen to maintain flexible operating arrangements – a trend which shall in all probability increase in momentum, in the wake of the AIFM Directive.

Malta offers flexibile rules in terms of minimum presence requirements, excellent fiscal treatment at just 5% effective tax leakage and the possibility for Hedge Fund Managers set up as corporate entities to re-domiciliate into Malta.   Continue Reading  Malta Fund Managers

Our clients have come from all walks of life, from institutional investors to private individuals wishing to start up a business venture.  We have put our corporate and tax expertise to the service of our clients to help them achieve their goals.  We strive to make the registration of setting up a company in Malta a simple, but never simplistic process, adopting a holistic view to maximise the tax benefits for our clients.  We adopt a responsive same-day-response policy complemented by a transparent working ethos, with no hidden charges – our clients can reap full benefit of a top professional service at reasonable prices.

A company registered in Malta (and thus automatically deemed to be resident and domiciled in Malta for tax purposes) is subject to Maltese tax on its chargeable income at the standard corporate tax rate of 35%. However on payment of tax by the company and the distribution of its income by way of dividends to its non-resident shareholders (who would themselves not be subject to withholding or other tax in Malta on the dividend itself) , the latter would be entitled to claim and receive, a refund of six-sevenths of the tax paid in Malta by the company,leaving a tax leakage in Malta of just of 5% and in some cases as low as 0% (if the Malta company suffered foreign taxation). For full details continue reading Malta Company Tax treatment page

Danish investors have expressed interest in company formation in Malta following an interview by Honary Consul, Bjørn Petersen in Funen, Denmark about the attractive features of the Maltese Company.  Shareholers of Maltese companies are entitled to a number of tax refunds, resulting in an ultimate tax leakage of 5% or less.  Further relief is ensured by virtue of the favourable double tax treaty entered between Malta and Denmark, which provides for 0% taxation on dividends, interests and royalites.

Denmark has been one of the fastest growing investors in Malta with 61 subsidiaries established in Malta in the past two years, double the figure of 2007 and 2008.

Click here for a more thorough understanding of the TAX TREATMENT OF THE MALTA COMPANY

The opening of a corporate bank account is subject to the submission of the following documents:

• Certified Copy of passport (for each beneficiary, shareholder and director);
• Utility bill (for each beneficiary, shareholder and director) or any similar document attesting proof of residence;
• Copy of company’s constitutive documents e.g. Memorandum and Articles of Association (although most banks will accept Italian or French company statutes, an English translation may be required); 
• Certificate of incorporation;
• Certificate of good standing for company or recent extract from the registry of companies;
• A bank reference attesting the credit-worthiness and good reputation for each beneficiary, shareholder and director.

Focus Business Services has a proven track-record in this field and has assisted numerous clients in opening a Malta bank account with their bank of choice.

Non-residents wishing to open a bank account in Malta, as well as other products such as credit and debit cards, must provide the following documents:-

• Certified passport copy;
• Utility bill or any similar document attesting proof of residence;
• Bank reference from known bankers attesting to the credit-worthiness and reputation of the non-resident.

Provided all of the aforesaid documents are provided, the opening of a bank account may be expedited in a matter of days and the full details of the Maltese bank account, internet banking secure-key and pin number promptly remitted to the non-resident.

Focus Business Services has a proven track-record in this field and has assisted numerous clients in opening a Malta bank account with the bank of their choice.

For a more thorough understanding of the eligibility criteria, continue reading the ”Highly Qualified Persons Rules“.

* Licence holders in possession of a gaming licence issued by a government authority of any EEA company or approved jurisdiction, wishing to run the business of remote gaming in and from Malta, shall upon the service of adequate notice to the Maltese Lotteries and Gaming Authority, be dispensed from the need to apply for Malta remote gaming licence issued by the aforesaid Authority;

* The licence fee has been increased from EUR 7,000 to EUR 8,500 per licence, per annum;

* The cost of renewing the remote gaming licence has also been increased from EUR 1,165 to EUR 1,500 per licence, per annum;

* The processing of transferring a qualifying shareholding in a Maltese licensed entity (5% or more of participating and/or voting rights) is subject to a fee of EUR 1,500 to cover the expenses for a due diligence check on the proposed transferee.

View full details about Malta Remote Gaming Company

Meet one of our team of professionals at our stand.

“Exciting tax planning opportunities are presented in this website and you are also encouraged to contact us directly so we can further address your specific needs. Information about our Group, our Services, the Jurisdictions we specialise in, popular tax structures used by clients and fee schedules; as well as an invitation to a confidential meeting at our offices or in your country/city and an invitation to join our Professional Intermediaries Network (if you are a professional) are to be found in this site.

The information contained herein is based on information and tax practice available as of March 2011.

This site is aimed for general guidance only and cannot substitute proper professional advice. Focus Business Services and its affiliated companies cannot be held liable for any action or business decision taken solely on the basis of the information of this site.

My colleagues and I will be happy to provide you with any further information you may require.”

Aris Kotsomitis
Chairman – Focus Business Services Group.