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Isle Of Man Gaming License

The Isle of Man is one of the oldest and most respected licensing jurisdictions for online gaming in Europe. The legislative framework for regulations was set by the Electronic Transactions Act of 2000 and the Online Gambling Regulation Act 2001, which legalized online gaming operation in the country. Hosting on the Isle of Man for bet striking and player data; Banking on the Isle of Man (off Island banking only with prior Treasury approval) Player deposits and winnings protected in segregated mechanism; Software must be tested by an approved testing house in line with Isle of Man gambling legislation; Licensing Costs. Application Fee: £5,000.

We recommend paying attention to the Isle of Man, which has undeniable advantages. It is situated in the Irish Sea and formally is under control of Great Britain. But in fact, the Isle of Man is a self-governed territory and has a separate legislation, which encourages gambling since 2001. The Isle of Man was among the first country, which provided attractive taxes for this business.

ADVANTAGES OF THIS ZONE

  1. Clear and easy procedure
    Only 2 laws regulate online gaming business. Their main aim is to protect investors and business owners, so you do not have to worry about the assets. There is one type of license for all kinds of activities. Some additional activities, like marketing or server maintenance, do not require a license at all. Also, you can apply for a license and operate under the brand of well-known institutions.
  2. Simple tax strategy – Due to the accommodation of the Isle there is a possibility to be listed on the UK main stock market or AIM:
    – 1.5% and 0.1% on profit from gambling;
    – 0% of the corporate tax;
    – favorable personal tax rates, which are limited to £120,000 for individuals per year;
    – opportunity to get a state grant.

PROCESS OF LICENSE OBTAINING

Isle Of Man Gaming Commission License

All requirements related to the process of license obtaining fixed in the Online Gaming Regulation Act 2001. First of all, an applicant must have:

  1. a certificate of no criminal record of the company owners. The certificate should be issued no longer than 3 months ago on the date of license applying;
  2. notarize passport(s) copies;
  3. bank certificates for each owner separately;
  4. utility bills not older than 3 months;
  5. description of types of games, which company plans to offer;
  6. a business plan of the company;
  7. information on software;
  8. description of the potential audience: location and main characteristics;
  9. a statement of the company owners stating that they will not provide services to the minors.

SOME OTHER SPECIFIC REQUIREMENTS:

  1. the company must be registered on the Isle of Man;
  2. there have to be at least 2 employees at the managing positions;
  3. an authorized person should be an Isle of Man resident;
  4. bank accounts and servers can only be local.

The license issued for 5 years. It is worth noticing, that the Gaming Commission reserves the right to refuse to issue a license. It is possible, if the Commission suspects that the company provides fictitious activity only in order to become white-listed.

Isle Of Man Gaming Licensees

Eternity Law International will gladly help you with gaming license, and our specialists will answer all your questions. Take advantage of our many years of practical experience – save your time and your money.

Isle of man gaming license

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Isle of Man Gaming Licence – GamingLicensing

  • Aimed at responsible gaming
  • Good player protection
  • Low taxes
  • Software is inspected by trustworthy companies
  • Protection of the youth

Isle of Man is a crown dependency situated between England and Northern Ireland. Its system of regulating interactive gambling has made it an attractive place to set up one’s business or play gambling games there.

In particular, there are three main principles adhered to by the Gambling Supervision Commission of the Isle of Man:

  1. the gambling industry should be crime free
  2. the young ones should not play gambling games
  3. the winners should receive their winnings

Not to breach these principles, the institution has been providing a range of services since 1962, among which there are licensing operators, solving troublesome cases, testing companies and a few more.

Isle Of Man Gaming License

Requirements for obtaining a licence

To apply for the Isle of Man licence, one must pay a £5,000 administration fee once, £50,000 per year for a Network Services licence and one of two more fees: £35,000 per year for a Full licence or £5,000 per year for a Sub-licence.

Isle Of Man Gaming License Cost

Apart from that, a duty must be paid for gross gaming yield. Depending on the yield’s amount and a gambling type, the tax varies from 0.1% to 15%.

Isle Of Man Gaming License Cost

To avoid disputes and troublesome cases, the Commission provides protection services for players. For instance, it approves mechanisms for protecting players’ money, which licensees must agree to use.

Isle Of Man Gaming License

Software used by gaming operators is tested by such reliable companies as Applus, QALab, iTech Labs and other.

Like in many other jurisdictions, in Isle of Man, bets are accepted from anywhere apart from its own residents.

In general, the authorities care about the reputation of the gambling industry and take measures to maintain it.