Following recent advancements made in the legislation for Gaming operates in Malta, the island has since received over 20 applications from new companies looking to direct business in Malta. Parliamentary Secretary Silvio Schembri, who announced the surge of applications to the Malta Gaming Authority (MGA) at the ICE London 2019 edition, identified the island as the 'home of gaming excellence'. This was clear at the event itself, as Malta had the highest number of stands at ICE London than any other country, - with 11% of exhibitors being Malta-based operators.
This comes following the new Malta Gaming Act launched in August 2018 which called for further regulation and compliance in order to safeguard players, as well as the Virtual Financial Assets Sandbox directive announced in November, whereby operators may make use of Distributed Ledger Technology (DLTs) such as cryptocurrencies within a sandbox environment.
The innovative legislation of the industry has already seen a number of serious companies look to Malta, and not just within the Gaming Industry. Malta's pro-business approach has seen Malta's GDP rocket in past years, with a steady growth of foreign investment as well as the fastest growing economy recorded within the European Union.
At Chetcuti Cauchi, an international firm providing services in gaming and corporate law, our team keeps up to date with Malta's ever-growing industries in order to advise clients on legislation and solutions within the market. Experienced in corporate relocation and expansion, the firm has already helped a number of operators learn more about Malta as an ideal jurisdiction for business.
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