Isle of Man E-gaming License
The Isle of Man has a world-class reputation as an e-Gaming jurisdiction whose priority is:
- Keeping gambling crime free
- Protecting the young and vulnerable
- Ensuring that the facilities offered by licensed operators are fair and that players receive their true winnings
To comply with the requirements of OGRA, Operators in the Isle of Man must:
- Establish an Isle of Man Company;
- Have at least 2 local Directors, who must be individuals not corporate entities;
- Appoint at least one resident Designated Official (DO), or where that Designated Official cannot reside in the Isle of Man, an Operations Manager (OM);
- Either register players on Isle of Man servers or operate under a Network Services Licence which obliges them to establish the network services in the Isle of Man; and
- Locate gambling and trading accounts in a GSC recognized Bank.
Please note: a Full Licence does not cover the gambling activities of a parent or holding Company or the operations of sister companies.
Advantages of obtaining an Isle of Man E-gaming license
- Low betting duty of between 1.5% and 0.1%, on gross profit
- World-class infrastructure, bandwidth and power resilience coupled with excellent data hosting facilities
- An extensive clustering of service providers / advisors and peripheral activities such as marketing, software and IT providers with experience in e-Gaming business on your doorstep
- Supportive legislation making the Isle of Man an ideal location for disaster recovery.
- Consumer focused regulation and player protection
- A simple application process typically 10 -12 week
- A qualified work-force
- Political stability
- OECD White Listed and member of World Trade Organization
- No need for Fiscal Representative in the UK
- Double Duty Relief for eligible EU member states
- Financial assistance for start-ups and relocations
E-Gaming businesses in any jurisdiction also require an excellent source of advisers and service providers so it is reassuring to know that the Island benefits from excellent legal, accountancy and fiduciary firms with direct experience in gaming.
The Island has an advanced telecommunications infrastructure with leading-edge fixed and mobile telecoms networks and highly resilient bandwidth connectivity delivered through outstanding data centre offering gaming specific expertise and industry leading DDOS mitigation solutions.
- We will advise you on the optimal legal structure for your requirements, size, expectations and circumstances. We have extensive knowledge of a wide range of legal structures in all major jurisdictions. (Securities, Banking, Insurance, and many more)
- Valsen will assist to complete every form for each process in the best way we know how (Based on our many years’ experience with various regulators and service providers across the world)
- We are very hands on in the post filing period checking with re regulator and service providers and updating you regularly. Any queries raised by the regulators and service providers during processing will be quickly synthesized by us and we shall craft the right responses to move the process forward fast.
- We have a full in-house compliance support for all compliance requirements with the regulator and service providers
- Through our extensive network, we provide sign up services with major service providers including but not limited to; Liquidity providers, technology providers, custodians, prime brokers, legal advisors, auditors, payment gateway providers among others.