Isle of Man gambling license
The Isle of Man is the crown possession of the British Crown, if you translate it into business language, then you get the following: a jurisdiction in which, upon registration, a company gets access to all financial and other tools available to companies registered in the UK, but with a favorable tax regime, the possibility get an offshore gambling license and a responsive government.
Geographically, the Isle of Man is located in the Irish Sea, between Ireland and the UK. Between 2006 and 2011, thanks to the development of online gambling, the Isle of Man gambling industry tripled and became one of the largest industries on the island, making it incredibly important to the IoM economy.
Due to its independent status, the Isle of Man offers companies a number of incentives to promote their businesses, such as VAT exemption, 0% corporate tax and low tax on gross gambling revenue.
The Isle of Man gambling license is suitable for all types of gambling activities, and the jurisdiction itself is whitelisted and has a “partnership” relationship with the UK. The jurisdiction also has a positive attitude towards digital assets, which will be of interest to gambling projects with a focus on cryptocurrencies.
Isle of Man Online Gambling License Classes
1.Isle of Man main gaming license
The state fee will cost £ 35,000 per year and is issued for five years. The initial license application fee is £ 5,000.
With the approval of the regulator, operators with a full license may offer sub-licenses at a reduced fee to the applicant.
May be obtained if the applicant wishes to work exclusively with a fully licensed Isle of Man technology provider.
Players register with the sublicensee, but can then access games provided by the business partner’s game server in the Isle of Man. The business partner must hold a full Isle of Man license.
To qualify as a sub-licensee, an operator may only use one software / platform provider licensed in the Isle of Man.
However, a full license holder can offer his services to an unlimited number of sub-licensees, and he can also provide gaming services directly to players.
3. Software development license
This type of license is suitable for software developers. It will allow licensed companies to provide their gaming software to gaming companies licensed in the Isle of Man without prior regulatory approval of such software.
4. Transferring the existing client base from other game licenses
Unique opportunity for an Isle of Man license applicant. Companies that already carry out gaming activities e.g. through a Curacao license, can obtain an Isle of Man gaming license and move their entire player base under a new license. No other gaming license provides this opportunity and customers have to re-register with a new company, which can lead to losses in the customer base.