The Isle of Man (IOM) is a self-governed dependency of Great Britain found in the Irish Sea. Due to its independent status, the Isle of Man offers a number of incentives for companies to move their business there, such as VAT exemption, 0% corporate tax and low tax on gross gaming yield.
The Gambling Supervision Commission (GSC) is the regulator for online gaming activities conducted in or from Isle of Man and this is considered to be a quality jurisdiction for i-gaming. The Isle of Man offers a tax-friendly environment and the requirements are fair: an IOM company, two local directors and a designated official and servers must be in the IOM.
The application process is straightforward and cryptocurrency may be accepted within i-gaming platforms.
IOM Gaming Licences
In the Isle of Man it is possible to obtain four types of licences:
Full Licence: this permits the operator to offer their licensed platform to other operators as sub-licensees.
Sub-licence: the operator may carry out activities only with a technology provider who has obtained a Full Licence.
Network Services Licence: this license is required if the operator wishes to allow one or more foreign registered players onto the Isle of Man server without re-registering the player details.
Software Supplier License (B2B): the license is not mandatory to supply software to Isle of Man licensed operators, however it does provide several benefits.
Merchant and Processing Accounts
With i-Gaming deemed to be a high-risk activity by financial institutions all over the world, gaming operators frequently find issues in opening bank relations. Our experience in advising i-gaming businesses extends to assisting with the opening and maintenance of both merchant and processing accounts in multiple jurisdictions.
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