Even though the Isle of Man is a British dependency, it is not actually within the UK’s jurisdiction. Further, the Isle of Man is self governing and not bound by the laws of the UK. This very independence in respect of its laws empowers the Isle of Man in offering extremely attractive advantages to local residents, individuals and companies from abroad.
Some of the many benefits of establishing your Online Gaming Business in Isle of Man are:
- Simple application process
The Island’s business friendly regulatory framework provides a pragmatic licensing regime that seeks to protect the consumer and aid business growth.
One type of license covering all activities.
Support throughout the application process.
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.
- 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.
Every country has different rules; the Isle of Man recognizes this and provides a single license solution with low levels of duty between 1.5% and 0.1% on Gross Gaming Yield – not turnover.
The current Corporate tax on gaming companies is 0%.
No capital gains tax or inheritance tax.
Highly attractive personal tax rates with high personal tax allowances.
Income tax payable per year capped at £120,000 for individuals.
Simple and competitive tax regime with top personal tax rate of 20%.
Generous grant assistance.
Low cost, legal solution to protection of player funds.
- World-Class Infrastructure – The Isle of Man has an advanced telecommunications infrastructure. The Isle of Man has frequently been used as a test bed for emerging technologies.
- Diverse economy
AA1 sovereign credit rating from Moody’s. AA+ rating from Standard & Poors.
Over 25 years of consecutive growth.
- Stable and responsive Government
Easy access to key decision makers.
Made up of individuals not parties.
Responsible and co-operative with a long history of complying with international standards.
Required by law to budget for a surplus in respect of its annual revenue spending.
- A business friendly location
White-listed by the UK allowing Isle of Man licensees to advertise to UK market.
OECD white list and member of the World Trade Organisation.
Easily accessible from major transport hubs in the UK and Ireland.
Private and public sectors work closely together so that positive changes can be made quickly and efficiently.
Skilled workforce and environment of continuous learning for residents and employees with training and gaming specific courses available.
In 2001, the Isle of Man Government was one of the first jurisdictions in the world to introduce legislation specifically designed to benefit gambling and online gaming firms and fully protect customers. Following further recent changes, the licensing and regulatory controls are now more responsive to the needs of the gambling and online gaming industries.
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 ORGA 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 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.
Basic requirements are: In order to qualify the following conditions and submissions have to be met:
- Certificate of no criminal record of the owners of the company to ensure that there are no criminal records about these owners, not older than 3 months;
- Notarized Copies of passport(s)
- Bank references of the owners; not older than 3 months
- Copies of utility bills not older than 3 months
- 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;
- Declaration of owners that they have blocked access to the services for minors and information of problem gambling n the website;
- And last but not least, servers need to be collocated in the Isle of Man.
Our turnkey Isle of Man Online Gaming License package includes everything you need to get started from a legal standpoint.
What does the package include?
Our package includes everything our client needs to set up and operate a licensed Online Gaming Company in Isle of Man in compliance with all laws and regulations.
· Incorporating the Company
· Obtaining the zero tax status for the Online Gaming Company
· Providing the registered address in the Isle of Man
· Obtaining the Online Gaming License for the Company
· 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)
The Online Gaming Company in particular can also be used to:
- Offer any online gaming and betting product world wide with no restrictions on target markets with the exception of the USA and Isle of Man
- Enter into agreements with multiple merchant services providers, software providers etc. which we will gladly assist you with.
- Open and operate bank accounts anywhere in the world where gaming is accepted.
- Own any intellectual property rights such as domain names, URL etc.
To summarize we include:
- An Isle of Man Corporation: 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 and serve all of Europe with white-list status.
- Online Gaming License for the Company
- An Corporate Bank for Online Gaming business. We work with a variety of safe and secure institutions catering to online gambling operators.
- Online Gambling Merchant Accounts with SKRILL: Once you have your business established you will need to be able to receive payments from your customer.
- Online Gambling Merchant Accounts for acceptance of both Visa & MasterCard: Once you have your business established you will need to be able to receive payments from your customer.
- 10 Hours Personalized Advice: Need some help or assistance with conducting your business offshore? Want to get favorable conditions when applying for an offshore credit card? Want to know where you can invest your offshore profits for maximum return? … 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 … !
What a wealth of benefits!
Contact Us for a customized proposal for an Isle of Man Online Gaming License & Business Package today !!!
Take advantage of our more than 20 years of experience and let us help you every step of the way.
Your business is important to us and we guarantee professional service.