Since the gaming industry is regulated, obtaining a license can be a lengthy process. These are the five main countries to look out for before starting your online gaming operations: Here we discuss several benefits that can be gained from acquiring a gaming license in the top 3 countries.

Malta

Malta is the gold standard for iGaming licensing due to the many attractive benefits it provides.

Tax benefits

The corporate tax rate in Malta is set at 35%, although Malta has a tax refund system. This system includes a special scheme called 6/7 reimbursement. This scheme results in an effective tax rate of only 5% depending on the circumstances. If companies meet certain criteria, they can also benefit from lower corporate tax.

Operators holding a Maltese gambling license are entitled to access customers in different markets unless those markets are blacklisted by the FATF.

Security

Malta was the first country in Europe to introduce online gambling rules in 2000, developing a solid legal framework and robust player protection. Players feel safe and secure when placing bets on valid Malta websites, as if the operator does not comply with the rules presented by the MGA, their license will be immediately revoked.

Ease of doing business

Malta is ranked 88th out of 190 economies in terms of ease of doing business in the latest annual World Bank rankings. Malta’s Ease Of Doing Business is expected to reach 79.04 by the end of 2020, in line with Trading Economics’ global macro models.

Ever since the iGaming boom in Malta, the country has seen an influx of talent and many opportunities for people looking for jobs in the industry. According to a recent analysis by CountryProfiler, Malta employs nearly 7,000 full-time people, with an additional 3,000-4,000 employed in auxiliary work in the gaming sector.

The cost of living in Malta

Although rents in Malta are associated with the highest costs for those living on the island compared to the United States, they are 21.24% lower on average. The estimated cost of living for the average person in Malta is € 1,857 per month.

Curacao

Curacao is considered an ideal start-up jurisdiction. Currently, about 450 gambling operators are licensed and operate within the jurisdiction. The process of obtaining a license is considered one of the shortest. It is the most popular jurisdiction for online gambling because it has political stability in the country and a more affordable license.

Tax benefits

Concerning taxes in Curacao, operators are not required to pay any taxes on their income. To take advantage of this tax incentive, the tax must come from a foreign source. The 0% tax rate is by far one of the best tax rates compared to other jurisdictions.

Security

Gaming Curacao has a responsible agency, the Curacao Electronic Gaming Commission, which offers services and licenses to some of the most prominent brands in the online casino industry. According to Gambling Scope, Curacao Player’s defense deserves an 8/10. When it comes to helping players with any questions or complaints they may have, the Curacao Electronic Games Council takes on this role. It is also worth noting that the operator must pass rigorous tests to validate the license, as a result of which players practically cannot feel insecure when placing bets online.

Ease of doing business

The ease of doing business in the Netherlands averaged 30.50 between 2008 and 2019, reaching a record 42 in 2019 and a record low of 25 in 2014. Curacao is a stable and prosperous economy.

Talent pool

In Curacao, the official language is Dutch, and the most common language is Papiamentu. Spanish is also spoken by most of the residents of Curacao, and English is widely spoken, making it easy to find talented English-speaking people to work with your startup company. In terms of cost, Curacao is one of the most efficient cities, so operators can invest a little more in finding the perfect talent.

Cost of living in Curacao:

Because the average salary after taxes in Curacao is $ 1,124 and the cost of living in Curacao is $ 1202, this is quite a lot. On average, 1.63 times more expensive than the world average.

Kahnawake

The Kahnawake Mohawk Territory is a Kahnawake Mohawk Sanctuary on the south bank of the St. Lawrence River in Quebec, Canada, opposite Montreal. Kahnawake has licensed and regulated iGaming for the past 11 years and is now one of the leading influencers in the iGaming world.

Tax benefits

Kahnawake gaming license holders may be subject to 0% gambling tax on all gross gaming revenue. This is a great way for startups to reinvest their earnings in expanding their company. Apart from the 0% tax, the Kahnawake rate license application fees are also among the lowest.

Security

In Kahnawake, holding a gambling license implies responsible and fair gambling practice, allowing the player to understand that the organization is safe. The regulator takes user complaints very seriously, and violators of the rules are subject to immediate suspension. The commission went to measures in which licenses were revoked following allegations of an investigation. This has resulted in a high level of protection for players and business partners.

Ease of doing business

Canada overall ranks 23rd in terms of ease of doing business. And the Kahnawake territory is very well known for the upcoming launches with over 250 gaming sites licensed in the territory.

Talent pool

For operators looking to set up businesses in the country, having a strong local talent pool is what makes Kahnawake a popular choice for gambling companies.

Cost of living in Kahnawake:

Monthly expenses per person: $ 827 (CAD $ 1,070) excluding rent. The cost of living index in Montreal is 32.45% lower than in New York. The cost of living in Kahnawake is 3% higher than in Quebec.

Leave a Reply

Your email address will not be published.