Beneficial Owner
A Personal Declaration Form (PDF) is to be populated for every natural person that ultimately holds 10% or more equity, voting or control rights in a licensee or licence applicant. The PDF might also be required for any other natural persons investing funds into a Licensee or applicant.
Apart from the personal information, beneficial owners are also required to submit the following documents:
- The Source of Wealth Declaration – this needs to be filled in by all UBOs and/or third parties investing funds into a licensee/licence applicant. This form needs to be supported by detailed and relevant evidence/proof to account for the funds being invested in the operations.
- The Statement of Affairs form – this also needs to be filled in by all UBOs and/or third parties investing funds into a licensee/licence applicant. Evidence to support this Statement of Affairs might be requested by the Authority in case additional information is required for the purpose of processing the application.
How to Apply
These forms need to be filled in specifically by the individuals themselves in the Personal timeline within the Licensee Portal. In the Personal timeline, the Change in Personal Details application specifically in “Step 3 Involvement Type” is to be used to request the relevant involvement with the company.
Upon the submission of the Change in Personal Details application, the Request for Involvement is shown in the company timeline or within a draft application, and persons with the necessary access to the company will approve/decline the request. The approval or rejection of the roles would signify the finalisation of the Company’s responsibilities, and henceforth, the MGA will be required to proceed with the final steps of the process.
The Authority has created tutorial videos in this regard, which can be accessed through the following link. These videos show:
- How to switch between the portal timelines
- How to create a new PDF and add a new involvement
- How to accept or reject a Request for Involvement application
- How to accept or reject a Request for Involvement within a Gaming Licence Application