The eGaming jurisdictions of Alderney and Malta have confirmed they have signed a Memorandum of Understanding (MoU) in order to set new standards in the setting up of business friendly environments.
Both countries said that the move was driven by the advent of new technology and a recognition that the world is changing.
The MoU will allow the countries to exchange information between betting regulators in regards to areas of their responsibility, in addition to areas that have a direct impact on operators such as player pooling, offering services across borders and key technological issues.
Operators will be able to access an immediate benefit in providing services from Alderney into Malta and vice versa, without the expense of deploying equipment in each jurisdiction.
Other benefits will include issues that affect taxes, with structures being put in place to minimise or eliminate double taxation.
“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 director of ecommerce development, Robin Le Prevost, said.
“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.”