Two of the world's leading eGaming jurisdictions have signed an agreement that will set new standards in the setting up of business friendly environments.
Alderney and Malta have been in discussion for some time and the Memorandum of Understanding (MoU) has been driven by the advent of new technology and a recognition that the world is changing.
Robin Le Prevost, Alderney's Director of eCommerce Development says:
'The role of the offshore jurisdictions is evolving very quickly because of the rise in Point of Consumption taxation and regulation, new technologies such as cloud computing and the need for strong regulatory oversight. Alderney's position has been 'the better the co-operation between jurisdictions, the better the standard of regulation can be'. It also provides considerable benefits for operators, which is increasingly important as the cost of multiple licenses and compliance rise inexorably.
'The MoU is an agreement to exchange information between regulators on matters pertaining directly to their areas of responsibility but it also includes commitments in other areas which will have a direct impact on our respective operators.
These further areas cover such issues as player pooling, the ability to offer services across respective borders and key technological issues such as cloud computing.'
Of immediate benefit to operators will be the ability to provide services from Alderney into Malta and vice versa without the expense of deploying equipment in each jurisdiction.
Other benefits include issues which affect taxes. Structures can now be put in place which will minimise or eliminate the jeopardy of double taxation. This will bring bottom line benefits to operators who operate in both jurisdictions and from those jurisdictions into the European Union and beyond.