E-gaming in 2023
Healy Consultants Group PLC has numerous Clients in the e-gaming industry and we provide them with specialized consulting services to setup their online gaming business in their preferred jurisdiction. We support online and networking gaming start-ups by offering the following business support services:
- International banking facilities;
- Payment provider services for Online Gaming;
- Office premises;
- Gaming licensing services;
- Accounting and VAT support services;
- Liaising with regulatory authorities and government bodies;
- Gaming legal advisory services;
- Gaming management system setup and management services;
- Recruitment, relocation and migration services;
- Local server hosting;
- Data and disaster recovery;
- Data Protection Act registration.
E-gaming business – jurisdictions comparison
| Jurisdictions | Gibraltar | Malta | Isle of Man | Philippines | Curacao | Costa Rica | Panama |
|---|---|---|---|---|---|---|---|
| In order of preference | 1 | 2 | 3 | 4 | 5 | 6 | 7 |
| Type of entity | LLC | LLC | LLC | SP | NV | SRL | LLC |
| Resident director required? | No | No | Yes | Yes | Yes | No | No |
| Min # of directors | 1 | 1 | 2 | 1 | 1 | 1 | 3 |
| Resident shareholder required? | No | No | No | No | No | No | No |
| Local agent required? | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| Min # of shareholders | 1 | 2 | 1 | 1 | 1 | 2 | 1 |
| Corporate shareholder allowed? | Yes | Yes | Yes | No | Yes | Yes | Yes |
| Type of license | Remote gambling license | Remote gambling license | Full License | Interactive Gaming license | eGaming IP License | No specific license | Internet Gaming License |
| Application submission Government fees (US$) | None | 2,800 | 8,000 | 40,000 | None | None | 40,000 |
| Timeframe to prepare application | 3 weeks* | 3 weeks* | 3 weeks* | 3 weeks* | 3 weeks* | 1 weeks | 3 weeks* |
| Timeframe for Government preapproval | 4 weeks | Not required | Not required | Not required | 1 week | Not required | Not required |
| Annual license cost | £2,000 | US$8,500 | £35,000 | US$60,000 | US$67,200 | N/A | US$20,000 |
| Application forms available? | No | Yes | Yes | Yes | No | None required | Yes |
| Timeframe to obtain Government license | 3 months | 5 months | 4 months | 2 months | 2 months | None required | 2 months |
| License valid for | 1 year | 5 years | 5 years | 1 year | 5 years | None required | 7 years |
| Regulatory authority | Gibraltar Regulatory Authority | LGA Malta | Gambling Supervision Commision | CEZA | CIGA | None required | The Gaming Commission |
| E-Gaming regulation? | Yes | Yes | Yes | Yes | Yes | N/A | Yes |
| Easy to obtain? | No | Yes | Yes | Yes | Yes | N/A | Yes |
| Player protection of funds | No | No | Yes | No | Yes | No | Yes |
| AML regulation? | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| Corporate tax (%) | 5 - 35% | 0% | 0% for 6 years | 2% | 30% | 0% | |
| VAT registration required | No | Yes | Yes | Yes | No | No | No |
| Other taxes? | Annual tax 1% of turnover, Min. £85,000 per annum | Depends on Class 1-4 | None | 5% Special tax | None | None | None |
| Annual report | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| Audit | Yes | Yes | No | Yes | No | No | Yes |
| Public register of shareholders? | Yes | Yes | Yes | Yes | No | Yes | Yes |
| OECD White list | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| Offshore company allowed? | No | Yes | No | No | Yes | Yes | Yes |
| Offshore bank account allowed? | No | Yes | No | Yes | Yes | Yes | Yes |
It is important our Clients’ are aware of their personal and corporate tax obligations in their country of residence and domicile and they will fulfill those obligations annually. Let us know if you need Healy Consultants help to clarify your local and international annual tax reporting obligations.
