Isle of Man Gaming License

Isle of Man Gaming License

Request a free consultation

Isle of Man Remote Gaming License

Isle of Man is a self-governed territory situated in the Irish Sea and formally under control of the Great Britain.

Isle of Man Gaming License

The Isle of Man is a self-governed territory situated in the Irish Sea and formally under control of the Great Britain. We recommend paying attention to the Isle of Man as it has separate legislation, which encourages gambling since 2001. In fact,  The Isle of Man is among the first countries that provide attractive taxes for the gambling and egaming.

Legislation

Online Gambling. The principal legislation regulating the online gambling industry is the Online Gambling Regulation Act 2001 (OGRA). All forms of online gambling and gaming are potentially licensable under OGRA with the exception of spread betting, as set out in the Online Gambling (Prescribed Descriptions) Regulations 2007. Please note that spread betting would fall to be regulated by the Isle of Man Financial Services Authority.

Land-based Gaming. Casino gaming is regulated by the Casino Act 1986 (CA 1986). The Casino Regulations 2011 provide for the operation and control of casinos in accordance with the CA 1986 and set out a list of prescribed games which may be played in the gaming room of a casino which includes, among others, bingo and poker.

Land-based Betting. The Gaming, Betting and Lotteries Act 1988 (GBLA) and the Gaming, Betting and Lotteries (Amendment) Act 2001 regulate land-based betting and bookmaking and amusements with prizes. The GBLA permits gaming, which is defined in the GBLA as “the playing of a game of chance for winnings in money or money’s worth, whether or not any person playing the game is at risk of losing any money or money’s worth”, subject to certain prohibitions set out therein.

Land-based Lotteries. The National Lottery Act 1999 and the GBLA regulate lotteries in the Isle of Man. The UK National Lottery is available on the Isle of Man and, apart from any small society lotteries, is the only legal land-based lottery operating on the Island.

Social / Skill arrangements. Social gaming with no prize in money or money’s worth falls outside of the definition of gaming set out in the GBLA and OGRA (see above), and is therefore not currently regulated by statute. Land-based skills games with no element of chance are regulated under the GBLA.

Zone Advantages

  1. Clear and easy procedure

Only 2 laws regulate online gaming business. Their main aim is to protect investors and business owners, so you do not have to worry about the assets. There is one type of license for all kinds of activities. Some additional activities, like marketing or server maintenance, do not require a license at all. Also, you can apply for a license and operate under the brand of well-known institutions.

  1. Simple tax strategy

Due to the accommodation of the Isle there is a possibility to be listed on the UK main stock market or AIM:

  • 1.5% and 0.1% on profit from gambling;
  • 0% of the corporate tax;
  • favorable personal tax rates, which are limited to £120,000 for individuals per year;
  • opportunity to get a state grant.

Licensing Process

The Online Gaming Regulation Act from 2001 states all the requirements to obtain the gambling license. First of all, an applicant must have:

  • a certificate of no criminal record of the company owners. The certificate should be issued no longer than 3 months ago on the date of license applying;
  • notarize passport(s) copies;
  • bank certificates for each owner separately;
  • utility bills not older than 3 months;
  • description of types of games, which company plans to offer;
  • a business plan of the company;
  • information on software;
  • description of the potential audience: location and main characteristics;
  • a statement of the company owners stating that they will not provide services to the minors.

Specific Requirements:

  • the company must be registered on the Isle of Man;
  • there have to be at least 2 employees at the managing positions;
  • an authorized person should be an Isle of Man resident;
  • bank accounts and servers can only be local.

The license issued for 5 years. It is worth noticing, that the Gaming Commission reserves the right to refuse to issue a license. One of the cases when the Commission can refuse issuing the license is when there are reasons to suspect that the company provides fictitious activity only in order to become white-listed.

Request a free consultation

Call Us

+40 773 939 033

E-mail

hello@szilaghi.com

© 2019 All rights reserved Szilaghi Consulting. We do move your World.