The Malta Gaming Authority announced on the 7th March 2022 that as of 3 May 2022, the Authority will be requesting all applications involving funding (especially Gaming Licence Applications and Share Transfer applications) to be accompanied by the Source of Wealth and Statement of Affairs templates. A Source of Wealth Declaration will need to be submitted by all UBOs and/or third parties investing funds into a Licensee/Licence applicant.  This form needs to be supported by detailed and relevant evidence/proof to account for the funds being invested in the operations.

A Statement of Affairs form will also need to be submitted by all UBOs and/or third parties investing funds into a Licensee/Licence applicant.  Evidence to support this Statement of Affairs might be requested by the Authority in case additional information is required for the purpose of processing the application.

Over the years our firm assisted numerous clients with their license applications or in coordinating the sale or purchase of shares in licensed operations.  Should you need any assistance kindly contact our head of gaming advisory, Reuben Portanier.