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Gaming Licences > Regulated Jurisdictions > Isle of Man

Isle of Man iGaming Licences

General Information:

Isle of Man is a British crown dependency since 1765, but is not part of the UK or of the European Union. However, the UK Government remains constitutionally responsible for its defence and international representation.

Currency:

Manx pound (M)

Language:

English, Manx

Human Capital:

Highly educated workforce; IT focused; multi-lingual

Living Conditions & business facilities:

High standard of living; relatively low cost; reliable and efficient network of airline operators; relatively cheap office space; good health services; excellent education

Characteristics of the isle of man Remote Gaming Licence

Regulatory Body

Gambling Supervision Commission

Type of Licenses:

1. Full-licence
Operators with a full licence can offer technology to sub-licensees under the reduced-fee sub-licence scheme

Not all online gambling requires a licence. The following activities need not be licensed:
a. UK or Isle of Man National lottery
b. Gambling covered by a Betting Office licence
c. Gambling covered by a casino licence
d. Spread betting
e. Activities defined by the Insurance Act 1986
f. Offering pure free-play games
g. Games of pure skill

2. Sub-licence

Gaming Tax:

1.5% tax on gross gaming yield up to 20,000,000

0.5% tax for gross gaming yield of 20 million p/a, but not exceeding 40 million p/a

0.1% tax for gross gaming yield exceeding 40 million per annum

Government Aapplication & License Fees:

Licensing application fee is 1,000. The annual license fee for a betting site is 35,000

Sub-licensed cost 5000

Type of Company:

Must be a Manx company with a minimum of 2 local directors (individuals and not corporate entities)

Company Taxation:

Corporation tax is 0%, provided the site does not accept bets from Isle of Man residents

Validity of Licence

5 years

Estimated time-frame to obtain a licence

Typically an application is processed within 10-12 weeks

Restrictions on jurisdictions vis--vis wagers

The decision rests with the operator. The Gambling Supervision Commission may ask for confirmation that independent legal advice has been taken if they have a concern about a specific target market

Reporting requirements

Access to the business, its systems and audited accounts when requested by the Gambling Supervision Commission

Bandwidth provision

Internet Connectivity

A wide range of SLA guaranteed Internet Bandwidth, Private Circuit and MPLS connectivity solutions are available and provided over two resilient fibre optic rings and one point to point cable

Financial Services

Payment Gateway

EuroConsulta can assist e-gaming operators in obtaining e-payment solutions for collecting funds and paying winnings.

 

Gaming Licences > Regulated Jurisdictions > Isle of Man

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