The iGaming industry is underpinned by several important pillars: credibility, regulatory compliance, and cost-efficiency, making the choice of licensing jurisdiction critical for operators. Nevis’s recent entry into the iGaming market with the Nevis Online Gaming Bill 2025 positions it as a competitive jurisdiction, but how does it stack up against other tier-1 licenses like Malta and the Isle of Man? This article compares Nevis, Malta, and the Isle of Man across key aspects: application process, setup time, required documents, costs, and reputation, providing a comprehensive guide for operators in 2025.
Application Process
Nevis: The Nevis iGaming license application is rigorous yet streamlined. Operators must establish a Nevis Business Corporation (IBC) as the license-holding entity, requiring a licensed registered agent. The process involves three core components: a fit and proper test for directors, shareholders, and ultimate beneficial owners (UBOs); gaming system requirements; and comprehensive anti-money laundering (AML), compliance, and operational policies. Applicants submit forms including a License Application Form, Personal Information Forms for key individuals, and UBO Declaration Forms. The process emphasises transparency, with mandatory due diligence and technical audits to ensure compliance with international standards, such as FATF requirements.
Malta: The Malta Gaming Authority (MGA) oversees a thorough application process, known for its rigour. Applicants submit through the MGA’s eServices portal, undergoing a five-stage process: fit and proper test, business plan evaluation, operational and statutory compliance, technical environment setup, and ongoing audits. Key requirements include appointing a compliance officer, a data protection officer, and an AML officer. The MGA evaluates financial stability, business plans, and technical setups, requiring agreements with third-party providers like payment systems and software vendors. The process is complex, often necessitating legal or consultancy support to navigate.
Isle of Man: The Isle of Man Gambling Supervision Commission (GSC) administers a stringent application process under the Online Gambling Regulation Act (OGRA) 2001. Applicants must provide a detailed business plan, software documentation, RNG certificates, and proof of compliance with policies on underage gaming and responsible gambling. A local Designated Official or Operations Manager is required, and players must be registered on Isle of Man servers unless a network services license is obtained. The process includes extensive due diligence on directors, shareholders, and UBOs, with a focus on financial and legal transparency.
Setup Time
Nevis: The setup time for a Nevis iGaming license is approximately 2–3 months, assuming all compliance and due diligence requirements are met. Corporate registration takes 5–7 working days, followed by the license application, which is processed once all documents are complete. This relatively short timeline makes Nevis attractive for quick market entry operators.
Malta: Obtaining an MGA license typically takes three to four months, though complex applications may extend to six or even twelve months. The process includes a 60-day period for technical environment setup and third-party system audits. Delays can occur if additional documentation is required, making it lengthier than Nevis but comparable to other Tier-1 jurisdictions.
Isle of Man: The Isle of Man license process takes around four months, with potential extensions if additional information is needed. The requirement for local infrastructure, such as a Designated Official or server registration, can add complexity, positioning its setup time between Nevis’s efficiency and Malta’s thoroughness.
Required Documents
Nevis: Nevis demands a comprehensive set of documents for both B2C and B2B licenses, including a business plan, financial statements, proof of source of funds/wealth, domain ownership, compliant terms and conditions, KYC/KYB, AML policies, and RNG certificates (if applicable). For individuals, certified copies of passports, recent proof of address, bank and professional references, and signed CVs are required. Corporate entities must provide incorporation documents, shareholder and director registers, and a corporate structure diagram. All documents must be in English or accompanied by certified translations, dated within 90 days.
Malta: The MGA requires a detailed business plan with three-year financial forecasts, incorporation documents, KYC for key individuals, and agreements with third-party providers (e.g., payment gateways, software providers). Applicants must submit technical setup details, RNG certificates, and policies for AML, responsible gaming, and data protection. The documentation is extensive, reflecting Malta’s high regulatory standards, and often requires professional assistance to compile.
Isle of Man: The GSC mandates a business plan, software documentation, RNG certificates, and policies for responsible gaming and underage player exclusion. Individual directors, shareholders, and UBOs must provide certified passports, proof of address, references, and criminal record checks. Corporate applicants submit incorporation certificates, memoranda, and shareholder/director registers. The documentation volume is significant, akin to Malta, but includes specific local requirements like appointing a resident official.
Costs
Nevis: Licensing fees are € 28,000 including interactive site seal and mandatory listing in the public register. There may be additional costs related to company formation, document fees, agent fees, and ongoing maintenance, but these can be explained to you by Fast Offshore as they depend on your specific circumstances. We offer custom packages with a set fee, meaning no nasty surprises for you in terms of costs.
Malta: MGA license costs vary by license type. Application fees range from €25,000 to even as high as the hundreds of thousands. Like other EU gambling licenses, the Malta gambling license cost is higher than other offshore licenses. In general, the license is more suited to large, established operators who have the experience and the funds to go through the application process. Annual fees and compliance costs add to the expense, and operators face a 35% corporate tax rate, reducible to 5% via tax credits, plus a 5% gaming tax on Malta-based player revenue (capped at €466,000 annually).
Isle of Man: The Isle of Man license can cost up to €50,000 depending on the nature of the operations. Annual maintenance fees apply, and while corporate income tax is 0%, a 1.5% gaming tax applies to gross gaming revenue up to £20 million. Costs are higher than Nevis but lower than Malta, with no additional gaming taxes for non-local revenue.
Reputation
Nevis: Nevis draws on its 40-year history in financial services and FATF whitelist status to build a credible iGaming reputation. The 2025 Online Gaming Bill aims to establish a Tier-1 gold-standard license, drawing on best practices from Malta and the Isle of Man.
Malta: Malta’s MGA license is the industry gold standard, recognised globally for its rigorous standards and EU membership since 2004. With over 300 licensed operators and 10% of the world’s virtual casinos, Malta’s reputation for transparency, player protection, and regulatory excellence is unmatched. Its licenses facilitate access to European and emerging markets, making it a top choice for established operators.
Isle of Man: The Isle of Man, a British Crown Dependency, enjoys a stellar reputation as a Tier-1 jurisdiction since introducing online gambling regulation in 2001. Its GSC license is highly regarded for strict compliance, fairness, and player protection, with OECD whitelist status adding credibility. It is particularly appealing for operators targeting UK and international markets, though less dominant in the EU than Malta.
Conclusion
Nevis emerges as a great alternative to Malta and the Isle of Man in 2025, offering a zero-tax regime, competitive costs and a swift two to three-month setup. Its application process, while rigorous, is less complex than Malta’s or the Isle of Man’s, with comparable documentation requirements. Nevis’s emerging reputation, bolstered by FATF compliance and financial services expertise, makes it ideal for startups and crypto-focused operators. To find out more about Nevis and its new iGaming license, contact Fast Offshore. We have all the information on process, costs, limits and opportunities, and all matters related to the license. Our team are on standby and ready to assist.