The Isle of Man has become a leading jurisdiction in the global e-Gaming sector, offering the benefits of a highly regarded stable jurisdiction with a regulatory framework developed to support and protect both e-Gaming companies and their customers.
The Isle of Man was one of the first jurisdictions in the world to introduce legislation specifically designed to benefit e-Gaming business, and it has gone on to become one of the most respected in the world.
Online gaming was previously regulated under the Online Gambling Regulation Act 2001 whilst online betting was regulated by the Gaming, Betting and Lotteries Act 1988, it was resolved that all online gambling and online betting should fall under one legislative regime. From 1st September 2007 all online gaming and online betting became regulated under the Online Gambling Regulation Act 2001 supported by the 2007 Regulations.
UK "White List" accreditation
In August 2007 the Isle of Man was placed on the UK White List, allowing online gaming companies based on the island to advertise and market themselves in the UK (The UK Gambling Act 2005 banned companies outside the EU from marketing into the UK unless they were appointed to the White List.)
In order to be placed on the UK White List jurisdictions have to be able to demonstrate that a satisfactory regime is in place, the licensing and regulatory objectives of which broadly achieve the objectives under which the UK gambling framework operates.
Other benefits of the Isle of Man for e-Gaming
- Favourable tax regime - 0% corporation tax for companies with activities outside the Isle of Man, also no capital taxation, inheritance taxation or stamp duty
- Low personal taxation - standard income tax rate of 10%, higher rate of 20% and generous personal allowances and tax cap which provides that an individual's tax liability is limited irrespective of income generated
- Low gaming duty (gross gaming yield) of 1.5% reducing to 0.1% with increased turnover
- One licence for all on-line gaming
- Leading telecoms and communications infrastructure including two self-healing rings serving the island, 1.2 terra bits capacity 0.02% utilisation and anti-DDOS attack technology
- The Isle of Man was the worlds second and Europe's first to launch an operational 3G mobile network in 2002 and the worlds first to launch HSDPA 3.5G service in 2005
- Resilient, reliable and self sufficient power supplies
- Excellent transportation links to many of the major and regional airports in the UK and Ireland as well as regular sea links
- One off and/or annual government funding by way of grants are available
- Availability of professional expertise in e-gaming including lawyers, internet service providers, software developers, hardware suppliers, graphic designers, wed designers, disaster recovery centres and accountants
- Highly IT- literate work force conforming to international IT standards
- The Isle of Man is a "Tier 1" jurisdiction with legal and legislative practice based on UK standards and principals and is an ideal location for companies seeking AIM or FTSE market listings
- Location in Europe which is within the same time zone as the UK and no more than 2 hours from all other European countries
How can Corporate Options assist?
Corporate Options can provide the following services:
- Assist with e-Gaming licence application
- Establishment of a corporate entity
- Provide officers to the company
- Provide a registered office for the company
- Provide company secretarial and administration services to the e-gaming structure
- Liaise and introduce Isle of Man advocates, banks, auditors and other necessary parties to assist with the application process
- Liaise with the Isle of Man authorities in respect of the business following licence approval
- Liaise with technical operators, such as telecommunications suppliers
- Provide accounting, bookkeeping and payroll functions if necessary
- Assist key employees relocate to the Isle of Man through Relocation Options
For more information please contact Lee or call 00 44 (0)1624 612888.
- Company Incorporation
- Company Management and
- Offshore Company Formation and Management
- Ship and Yacht Registration
- Bookkeeping and
- Intellectual Property Rights
- Isle of Man Relocation Services & Relocation Options
- Services for Isle of Man
Businesses and Individuals