The Isle of Man was one of the first jurisdictions to introduce legislation in 2001, encouraging the development of online gaming businesses. Its regulatory body ensures an Isle of Man Gaming License is granted to those who operate fairly, remain free to criminal influences and agree to protect player’s money. The licensing and regulatory controls are now more responsive to the needs of the gambling and online gaming industries.
Isle of Man
The Isle of Man is a self-governing British Crown Dependency that isn’t bound by the laws of the UK. The isle sits between Ireland and Great Britain and has a population of approximately 83,000 people. Isle of Man enjoys a diverse economy with over 25 years of consecutive growth and it’s considered a gaming business-friendly environment.
Isle of Man Gambling Supervision Commission (GSC)
The Isle of Man Gambling Supervision Commission (GSC) was founded in 1962 and is fully independent and committed to player protection. The GSC is available to provide guidance on the process and discussion regarding the OGRA rules at every stage of the application process. Moreover, the Department of Economic Development is authorized to manage and support Internet gambling business issues in the Isle of Man.
There is also a number of online gambling regulations introduced by the Gambling Supervision Commission in order to apply for an online gambling license in the Isle of Man. The first document to study on the topic is the Online Gambling Regulation Act 2001 (OGRA) that covers all games connected with telecommunication, betting money, randomness and chance games.
Why should I get an Isle of Man Gaming License?
Some of the many benefits of establishing your Online Gaming Business in the Isle of Man are:
- Financially attractive – The Island has a competitive and simple tax strategy. It is also ideally situated as a jurisdiction to provide companies with the support required to list on the UK main stock market or AIM.
- World-Class Infrastructure – The Isle of Man has an advanced telecommunications infrastructure. The Isle of Man has frequently been used as a testbed for emerging technologies.
- Business-friendly regulatory framework – The Island provides a pragmatic licensing regime that seeks to protect the consumer and aid business growth.
- Corporate tax on gaming companies is currently 0%.
- Low gaming tax between 1.5% and 0.1% on Gross Gaming Yield – not turnover.
- No capital gains tax or inheritance tax.
- Government is stable and responsive
- Skilled workforce and environment of continuous learning for residents and employees with training and gaming-specific courses available.
- Simple application process – where one type of license covers all activities
- Peripheral activities such as marketing, software, skill games and disaster recovery can be hosted or carried out without any need for an Online Gambling Regulation Act 2001 (OGRA) license.
- OECD white list and member of the World Trade Organisation.
Isle of Man Gaming License Costs and Time Frame
Our Isle of Man iGaming License Turn-key package includes everything you need to set up and operate your business for approximately 105.000 GBP. Contact us to get a fully customized proposal to suit your business-specific needs. The complete application process normally takes from 12 to 16 weeks.
What does the Turn-Key Package include?
Our Turn-Key Isle of Man Gaming License package includes everything you need to set up and operate a licensed Online Gaming Company in Isle of Man in compliance with all laws and regulations:
- An Isle of Man Corporation: the Isle of Man is an excellent choice when it comes to incorporating an online gaming business. Special low-tax status and one of the world’s friendliest online gaming legal environment enable you to conduct your business 100% compliant.
- Assistance obtaining the Online Gaming License for the Company
- Obtaining the zero tax status for the Online Gaming Company
- Providing the registered address in the Isle of Man
- Providing the required 2 Resident Directors for the Online Gaming Company as required by law
- Assistance with Co-location and Hosting Facilities with adequate bandwidth and redundancy in the Isle of Man (additional costs depending on needs)
- Corporate Account for Online Gaming business: We work with a variety of safe and secure institutions catering to online gambling operators.
Online Gambling Merchant Accounts for acceptance of both Visa & MasterCard
- 10 Hours Personalized Advice: Need some help or assistance with conducting your business offshore?… Ask us! We offer the best after-sale support in the industry, and will do our best to assist you with whatever concerns and problems you might have!
The Online Gaming Company, in particular, can also be used to:
- Offer any online gaming and betting products worldwide with few restrictions on target markets
- Enter into agreements with multiple merchant services providers, software providers, etc. which we will gladly assist you with
- Open and operate accounts anywhere in the world where gaming is accepted
- Own any intellectual property rights such as domain names, URL, etc
Isle of Man Gaming License Requirements
To qualify for an Isle of Man Gambling License the following conditions and submissions have to be met by every single authorized person, officer, director, shareholder, beneficial and ultimate beneficiary owner:
- Certificate of no criminal record, not older than 3 months
- Notarized Copies of passport(s)
- Bank references; not older than 3 months
- Copies of utility bills not older than 3 months
- A detailed description of the games offered
- Detailed business plan
- Confirmation of the RNG application and its fairness (3rd party certification)
- Details about the software utilized and TST (or similar) report if available
- Geographic/target market
- Servers need to be collocated in the Isle of Man
NOTE – All documents must be in English and dated no older than 90 days. Where documents are not in English, certified English translations are required.
Why Fast Offshore?
With our more than 22 years of experience, you are guaranteed to have real-world, professional recommendations. Guarantee your online gaming business is built on a 100% legal foundation complete with the Isle of Man Online Gambling License.
Contact Us for a customized proposal for an Isle of Man Online Gaming License & Business Package today and allow Fast Offshore to help you every step of the way.