May 22, 2023
The iGaming industry is a highly regulated and competitive industry that requires careful management of financial resources to succeed. As a leading corporate service provider in Malta, we understand the importance of financial corporate services in supporting the growth and success of iGaming companies. In this article, we will explore why financial corporate services are crucial for iGaming companies and how we can help them manage their operations effectively.
One of the main reasons why financial corporate services are critical for iGaming companies is the need to comply with regulatory requirements. The iGaming industry is subject to a wide range of financial regulations, such as Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations, which aim to prevent fraud, money laundering, and other financial crimes. We can provide expert guidance and support to iGaming companies to ensure they comply with these regulations and avoid costly penalties and reputational damage.
Another reason why financial corporate services providers can help iGaming companies adhere to all local regulatory requirements is by eliminating the need to invest in staff with the proper experience in this field. Corporate service providers have dedicated teams for each expertise area, available for clients almost 24/7. Clients thus have instant access to accountants, lawyers, compliance, and iGaming experts. You only pay for the services you need by the hour, without having them on your own payroll, and without having to worry about sick leave, holidays, and office space.
The requirements can vary from obligatory VAT and tax filings, corporate secretarial and legal requirements to maintain the company's good standing with local registries. Additionally, assistance can be provided with the drafting of minutes of meetings, resolutions, agreements, policies, and more. Last but not least, local iGaming regulators require operators to report on various aspects, including operational results, new third-party providers, responsible gaming, and more. All of these aspects are areas where qualified Corporate Services providers have ample experience.
Moreover, financial corporate services can help iGaming companies reduce risks and enhance their profitability. For example, by conducting regular financial health checks, iGaming companies can identify and address financial inefficiencies, fraud, and other issues that may negatively impact their performance. We provide comprehensive (financial) assessment services that help iGaming companies improve their (financial) performance and mitigate risks.
Furthermore, financial corporate services play a crucial role in managing cash flow effectively for iGaming companies. These companies typically operate on tight margins and have fluctuating revenue streams, which can make it challenging to maintain a stable cash flow. We offer assistance in developing and implementing cash flow management strategies that ensure iGaming companies have sufficient funds to cover their expenses and invest in growth opportunities.
Financial corporate services can be essential for iGaming companies to succeed in the competitive and regulated iGaming industry. We have extensive experience and expertise in providing comprehensive financial corporate services to iGaming companies, including regulatory compliance, AML support, cash flow management, financial & tax administration, and directorship services. We are committed to helping our clients achieve their financial goals and maximize their profitability while ensuring compliance with regulatory requirements. Contact us today to learn more about how we can support your iGaming business.
A reliable financial corporate services provider takes the boring off your hands so that you can focus on the big picture.
Written by Ian Sammut Dacoutros
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