eCommerce and eGaming
Gaming, Payments, Software, IP, and Blockchain Structures
For technology-driven trading businesses, we offer a comprehensive support service from initial multi-jurisdictional company incorporations and licence applications through to venture capital sourcing, VAT compliance services, and administration and control. A range of eCommerce and eGaming companies rely on us to manage and administer their operations, including licensed eGaming operators, software development and licensing companies, payment service providers, and crypto-currency exchanges.
Our service for licensed and non-licensed eCommerce businesses includes:
- International company incorporation and management, with particular expertise in the hub jurisdictions, including:
- Malta company incorporation.
- Isle of Man company incorporation.
- Creation of additional operating, holding, and service companies as required, in a range of international jurisdictions depending on your needs.
- Streamlined submission and management of Isle of Man and Malta gaming licence applications, plus coordination of additional overseas licences as required based on your target markets.
- Assistance with establishing bank accounts.
- Provision of experienced local directors, registered office, company secretary, accountancy, and administration services.
- Provision of experienced operations managers, designated officials, and money laundering reporting officers (MLRO).
- Tax and corporate structuring.
- Administration, accountancy, tax, and VAT compliance services.
- Strategic planning and market development.
- Venture capital sourcing.
- Completion and submission of monthly returns and gaming reports.
- Preparation of Money Laundering and Player Protected Funds reports.
Gaming Licences and Administration
Of the many eCommerce companies we support, it is those which hold remote gaming licences (or online gambling licences, also known as eGaming or iGaming) that require the most intensive support. As a highly regulated activity that naturally crosses borders, online gambling requires the most stringent and effective corporate governance to operate effectively, and this is where we can add significant value to our clients’ businesses.
We help you select an appropriate home jurisdiction, incorporate holding and service companies for you, help you to build the appropriate governance and compliance reporting into your business plan, liaise directly with key regulatory bodies to secure the relevant licences, and then share the burden of reporting and monitoring as your business grows.
The most popular EMEA jurisdictions for online gambling licences are Malta and the Isle of Man, with a combination of a Malta gaming licence and an Isle of Man gaming licence covering the global needs of almost all operators, depending on their core markets.
- Malta remote gambling licences, provided by the Malta Gaming Authority (MGA), are ideal for operators looking for an onshore EU member state from which to licence, to sell into EU markets. Malta is an extremely popular licensing jurisdiction due to its mixture of respected regulation, growing technology cluster, and EU-compliant VAT and tax regime.
- Isle of Man gambling licences, issued by the Gambling Supervision Commission (GSC), are favoured by operators looking for an offshore base from which to target primarily British or non-EU markets. Asian-facing betting companies particularly favour it, but it is also suitable for Latin American gaming. Like Malta, the Isle of Man is very well respected and has an excellent technology cluster, based on its world-class power and data infrastructure.
In addition to securing traditional sports betting licences, casino licences, and poker licences, we also have direct experience in licensed gambling for emerging industry sectors such as esports betting licences, daily fantasy sports licences, and even betting with virtual goods like skins and cryptocurrencies.
Outsourced MLRO, Data Protection, and Compliance Services
One of the critical success factors for running an eCommerce business, particularly in sectors like gambling which are considered ‘high risk’, is the implementation of proper oversight and compliance structures. As your company is established, we work closely with your regulatory body (or bodies) and take great care to implement the appropriate monitoring and reporting framework to ensure full compliance with prevailing law.
As a core part of this service, we provide highly trained and experienced officials in the following key areas. Depending on your internal structure, we can provide all or some of these roles as an outsourced – but nevertheless extremely thorough and involved – staffing solution.
- Directors and Operations Officers to provide local experience in your home jurisdiction and ensure strong corporate governance is maintained. They will also ensure that you adhere to licensing requirements, such as protection against under-age or irresponsible gambling.
- Money Laundering Reporting Officers (MLRO) to ensure that your company fulfils its obligations in terms of prevailing anti-money laundering regulations. This includes maintenance of money laundering enquiries registers, an advertising and media register, law enforcement enquiries registers, anti-bribery registers, breaches and errors registers, training log and risk assessment matrices, and other records required by law.
- Data Protection Officers (DPO) to ensure that customer data is stored and maintained properly, including ensuring compliance with the EU’s General Data Protection Regulations (GDPR).
Software and IP Structuring
Establishing companies in well-regulated, internationally respected jurisdictions provides our clients with a robust base for trading, as well as holding and licensing intellectual property. For example, we are experienced in developing efficient and compliant international trading structures for software companies looking to licence their technology to clients across the world.
Blockchain and Fintech
Boston has been engaged with the blockchain technology sector since early 2014, working with crypto-currency exchanges and companies developing disruptive business models based on distributed ledgers. Since then, we have developed significant expertise in tax and regulatory compliant structuring for blockchain businesses, including structures for handling initial coin offerings and for operating with a mixed fiat/crypto funding model.
The scalability and transformative potential of the blockchain is something Boston has long realised. Whether seeking to establish operations or relocate and grow a business, our portfolio of blockchain entrepreneurs enjoys the support of a network of experienced and knowledgeable professionals at the heart of this exciting sector.
Venture Capital Sourcing
Through Boston Ventures and its network of ultra-high net worth investors and family offices, we also provide venture capital sourcing for eCommerce entrepreneurs in the process of setting up or growing their business. As many businesses are looking for growth investment at the same time as pursuing their licensing and international structuring and we understand these business structures in great depth, we make a natural partner for sourcing capital.