Isle of Man Gambling License

Among the most liberal and progressive licenses for online gambling, Isle of Man tops the chart. At TRUEiGTECH, we will be providing you with the right guidance and assistance to apply for your Isle of Man Gambling License, assuring guaranteed results. 

If you are planning on starting your online gambling business in the Isle of Man jurisdiction, obtaining a license is the first thing you must prioritize. Online gambling businesses holding Isle of Man Gambling Licenses have significant advantages over most of the competitors across different jurisdictions. It is because the Isle of Man is an active member of the World Trade Organization and is also present on the white list of the Organization for Economic Corporation and Development. 

Everything About Isle of Man Gambling License

Upon availing Isle of Man Gambling License, you will be given access to diverse marketing tools in the United Kingdom, for attracting new potential costumes. The Isle of Man does have signs of self-government but is still under the British Crown. It means that the local government here has the authority to introduce its own regulations or rules associated with business development. Thus, it can also create loyal taxation with lower rates than what is actively being accepted in Britain.

But, the influence of the UK in this entire process will favor the economic sector stability and will protect the associated jurisdiction from being blacklisted. The Isle of Man has established itself as the supreme regulator of the gambling sector, confirming the competence of all authorities. In 2001, a specialized organization was formed in the Isle of Man for regulating online gambling operations, and the Isle of Man Gambling License was introduced. Such active measures demonstrated the seriousness of this jurisdiction towards taking control over illegal gambling and regulating the associated activities for lawful operation

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Benefits of Acquiring an Isle of Man Gambling License

High Reputation

Upon availing of the Isle of Man Gambling License, you will be earning high levels of reputation for your business and gain immense trust from your client base or potential partners.

Longer License Tenure

The Isle of Man Gambling License is issued for a long tenure of 5 years and will cover various gambling games or activities within it. Due to this, you won’t have to look for sub-category licenses to regulate specific gambling games. But, in case you come up with some unique gambling activity, there will be room for opening sub-licenses.

Low Taxation Rules

The taxation rules are in favor of your online gambling business. You will only have to pay 0.1% or 0.5% of your gross gambling business revenue and 0% on capital gains and corporate tax. Moreover, you don’t have to pay any VAT.

Global Recognition

Upon availing of the Isle of Man Gambling License, you will be provided with global recognition. It means, your gambling business will be admitted to the international market, making your service offerings more accessible to the global audience.

Moderate Appoval Time

Depending on the correctness of your application and submitted documents, it might take up to 3 months for you to acquire the Isle of Man Gambling License. It is still a shorter time span than what most of the other jurisdictions follow.

Good Local Labor Force

The locals in the Isle of Man are well educated with specialized courses and have experience in the online gambling sector. Moreover, they are proficient in English, which makes them ideal for joining your team and scaling your online gambling business.

Requirements Associated with Applying for an Isle of Man Gambling License

Some of the crucial requirements that you must prioritize for obtaining the Isle of Man Gambling License are:

Simple Process of Obtaining the Isle of Man Gambling License

Here are the simple steps that you must adopt in order to apply and obtain the Isle of Man Gambling License for seamless business operations:

Register Your Business as a Legal Entity

One of the first things that you must do is register your company with the local Isle of Man registry. It is the primary rule for you to be eligible for applying for the Isle of Man Gambling License. At TRUEiGTCH, we can help you with your seamless company registration by following all the associated guidelines. 

For successful registration, you must appoint at least two directors for your company, and arrange a set of crucial documents. It takes around 2 days and costs $130 to register your company. If you pay an added fee, your company can be incorporated in just 2 hours. You can contact us for a seamless incorporation of your company. 

Open Your Corporate Bank Account

Once your company is incorporated, you will then need an active bank account. For this, you must choose a preferred local bank and submit all the necessary documents to open your account. If required, you can take the help of our experts to source the best bank account in a shorter span of time.

Rent an Office Location and Employ People

The locals are skilled and experienced in the online gambling sector at Isle of Man. So, once you have a rented office location in the jurisdiction, employ people for different key positions, which is again a critical requirement for your licensing process.

Prepare the Documents

Before you go ahead and apply for the Isle of Man Gambling License, you must gather all the necessary documents. Some of the crucial ones include business plans, software documentation, incorporation certificates, personal declarations, founders’ proof of criminal record, and others. 

Correctly sourcing and producing the documents is a crucial step, and our team can help you in the process. Contact our experts today! 

Submit the Application

Once all the documents are ready, you can send out the application to the Isle of Man regulator. It is crucial for you to stay in touch with the regulator to quickly answer any potential questions. Following that, you must also pay the asked government application fee to avoid your application being rejected. In typical cases, the application approval process will take up to 3 months. 

License Issuance

Once all the conditions or regulations are met, your online gambling company will be authorized to operate legally in the Isle of Man jurisdiction. This way, you can now conduct your business operations around various approved gambling activities, without incurring any notice or fine.

Let TRUEiGTECH Assist You with Obtaining the Isle of Man Gambling License1

At TRUEiGTECH, we have been providing technology-centric and advanced online gambling software solutions for more than a decade now. During this course of time, we realized that determining the right online gambling license is equally important to having quality software to run your business on. So, we started offering licensing assistance to our clients, ensuring complete all rounder iGaming service offerings under one roof.

So, if you want to avail of the Isle of Man Gambling license to get started with your online gambling business in the jurisdiction, we have dedicated ex-pats to guide you throughout the process. Our experts are well-versed in the regulatory attributes of the top licensing companies, making it easier for you to apply and get approval for your desired options. So, to help streamline the overall Isle of Man Gambling Licensing process while you continue to focus on scaling your business, reach out to us today.

FAQ's

For obtaining the Isle of Man Gambling License, you must be able to meet the regulatory requirements, issued by the respective authorities. You must submit all the necessary documents, including the financial audit and business plan. Once all the inspections are passed, you will be issued with the Isle of Man Gambling License, which will allow you to legally provide online gambling services.

Yes, online gambling has a legal status in the Isle of Man and is backed by certain relevant rules. Authorities are strict at adhering to the regulatory requirements, and any violations can result in license revocation or heavy fines. So, make sure you have the Isle of Man Gambling License before providing your services within the jurisdiction.

The total price that you might have to pay for obtaining the Isle of Man Gambling License, including government and application fees, is $54,000

You can obtain a full license, sub-license, network license, and B2B software license for gambling at the Isle of Man. If you want to know more about these licenses, reach out to us at TRUEiGTECH today. 

 

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