Isle of Man Gaming License

Isle of Man Gaming License

The Isle of Man is quite the attractive jurisdiction to open the gambling business online. This country is the pioneer among similar offshore businesses by including this industry regulation in its legal field in 2001. Further on, the regulatory framework has much improved in this terms. The island state is possessed by Great Britain which means the prestigious jurisdiction where a variety of banking facilities and counterparties efficiently operate world-wide.

The local National Commission takes care of compliance with rights owned by all players which explains the highest international reputation of casino opened on the island. The following is among main advantages of this jurisdiction:

  • No distinction between class subtypes which means that candidates need to submit a single package of documents for the entire gambling activities.
  • Possibility of sub-licencing on the island state: your online casino can run on behalf of the widely known brand with further option to have the rights to do the business independently.
  • A large choice of gambling types, including sports betting, exchange betting, sweepstakes, casino, lotteries, fancy games, Internet services, certain types of financial trading, etc.
  • The reliable British Law is applicable here subject to the European community suitable for business promotion in the UK that allows successful use of the well-structured liberal laws.

Features of Registration

Company activity associated with online gambling is taxed at the variable rate of 0.1-1.5% which depends on your profit, that is, the less is your profit, the higher are taxes. The fixed payment is for betting houses there at the rate of 15% of the pool. The cost of licensing to operate an online casino in the island state is only 1 thousand pounds sterling. In addition, the amount of 35 000 for full renewal of license or 5 000 for sublicensins is required.

To get an Isle of Man Gaming License, the following is required:

  • The company registration on the island.
  • Opening of an account with a local bank.
  • To assign a representative – an authorized resident of that country and two managers.
  • You can start your legal and profitable online business supported by our experts. We deliver services to run businesses and their registration in all sought-after jurisdictions.

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