Isle of Man:
Get Competitive Edge in iGaming Licensing with Isle of Man

Get Your Isle of Man Gaming License with Ease

If you are having trouble with the licensing for your online gaming business, then Fabulous BV has got your back. The entire licensing process can be confusing, especially for new startups. You need a license that follows all the rules, but also gives you tax benefits and helps your business run efficiently. Without the right help and support, the process can be really overwhelming. This can cause delays, unexpected costs, and a slow start for your business. At Fabulous BV, we simplify the process of obtaining your Isle of Man gaming license.

Here’s how we address your challenges and provide best solution:

Professional Guidance:

Our team has deep knowledge of gaming license isle of man regulations and licensing requirements. We ensure that you navigate the process efficiently, avoiding common pitfalls and achieving a smooth and timely approval.

All-Inclusive Assistance:

We offer end-to-end assistance, handling everything from the initial paperwork to managing the entire licensing process. This comprehensive support means you can focus on your core business while we take care of the hard work.

Strategic Connections:

Our extensive network of financial and content providers can help you establish valuable partnerships. This not only enhances your operational capabilities but also opens doors to new opportunities and markets.

Why is the Isle of Man an Ideal Choice for Your Business?

The Isle of Man is a great choice for your gaming business license. It has friendly laws, low taxes, and a supportive government that helps gaming companies succeed.

Appealing Tax Perks:

The Isle of Man’s tax benefits are among the most appealing for gaming businesses. With 0% corporation tax and 0% capital gains tax, you can enjoy higher profits and better financial health.

Efficient Timeline:

The Isle of Man’s Gambling Supervision Commission offers three types of licenses: Network Services License, Full License, and Sub-License. The Isle of Man government has streamlined the licensing process to be quick and effective. On average, it takes just 12 weeks from application to approval, allowing you to launch your business without unnecessary delays.

To obtain the Isle of Man gambling license, you need to first establish a Company Limited by Shares (Ltd), which is regulated by the Companies Act 2006. Here are the key options and requirements for company incorporation:

Isle of Man License Types

The gaming license in the Isle of Man has several types, each catering to different needs and business models in the gaming industry. Here are the main types of licenses that you can get in Isle of Man:

Full License:

This is the most popular license, allowing both B2C and B2B activities. It covers all gaming activities, including poker, bingo, sportsbook, slots, casino, mah-jong, e-sports, and more. It also allows operators to offer sub-licenses and white labels to other operators.

Sub-License:

This license permits B2C activities and some B2B activities, similar to the Full License. However, sub-licenses are allowed only for companies within the Isle of Man. Sub-license holders can keep their player’s data and are responsible for compliance with AML (Anti-Money Laundering) and KYC regulations as if they were a Full License holder.

Network License:

This license offers the same privileges as the Full License but adds the ability to accept players from global operators onto the license holder’s platform without registering them. It is useful for pooling liquidity and operating networks and progressive jackpots. The Network Partner is responsible for player registration and funds, alleviating AML/KYC responsibilities for the Network License holder.

Software Supplier License:

This license allows businesses to offer software provision services in the Isle of Man and to its B2C licensees. It includes traditional software supplies like slots, casinos, platforms, and live dealer studios. The license ensures that B2B partners operate to high standards of corporate governance.

Token/Block chain-based Software Supplier License:

This license is for supplying software products that involve crypto currency and block chain for the gaming sector. It is similar to the Software Supplier License and can be offered to Isle of Man licensees without licensing them with the Gambling Supervision Commission.

Company incorporation

Options for Company Incorporation:

Act 2006: This is the most preferable option but requires a resident agent holding license 4.

Act 1931: Requires a corporate secretary and has more complex Memorandum of Association, Objects of the Association, and Forms.

Key Requirements for a Company Limited by Shares (Ltd):

Shareholders: At least one shareholder, who can be a natural or a legal person, resident or non-resident.
Directors: At least two local directors must be appointed within one month of incorporation.
Registered Agent: A registered agent, as defined by section 74(3) of the Act, is required.
Registered Office: A company must have a registered physical office address in the Isle of Man.

Timeline:

Processing Time: Generally within 2-3 weeks, depending on the exchange of information and requirements.
To incorporate a company in the Isle of Man, certain documents and requirements must be fulfilled:

Documents Required for Company Incorporation

Memorandum of Association: This should include the company name, legal form, first registered agent, shareholders’ full names and addresses, and their agreement to take shares.
Articles of Association
Photocopies of shareholders’ passports
Proof of paid registration fees
Proof of registered office address located in the Isle of Man

Cost of Incorporation

Standard Registration: £100 (within 48 hours of receipt of the application documents).
Expedited Registration: £250 (for registration within 2 hours, only possible if documents are received before 2:30 pm on a business day).
Fast-Tracked Registration: £500 (while the person who has presented the documents waits)

Let’s discuss the Isle of Man gambling license cost.

Isle of Man Gaming license

The process of obtaining an Isle of Man Gaming License involves several steps, specific requirements, and associated costs. Here is an overview of the Isle of Man gaming license cost.

Application Process:

Company Incorporation: Incorporate a company in the Isle of Man, ensuring it is a company limited by shares.
Appoint Local Directors: Appoint two local directors, which may be facilitated by a Corporate Service Provider.
Designated Official/Operations Manager: Appoint a resident Designated Official. If not resident, a resident Operations Manager is required, who can also be one of the resident directors.
Submit Application: Complete and submit the application form, vetting form, and required documents to the Gambling Supervision Commission (GSC).
Publish Application Notice: Publish a notice in an Isle of Man newspaper about the application, inviting any objections to be notified to the GSC.
Application Fee: Pay the necessary application fee at the time of submission

Requirements:

Integrity and Competence: The company must be controlled by individuals of integrity and competence.
Financial Adequacy: Sufficient financial resources to operate a gambling business are required.
Server Location: If applicable, game servers must be located on the Isle of Man.
Certification: Random Number Generators (RNGs) and gambling systems must be certified by an approved independent software testing house.
Gambling Rules: Draft and publish customer-oriented gambling rules on the business website in multiple languages.
AML/CFT Policies: Develop internal policies for assessing risks related to money laundering and terrorist financing

Cost:

Application Fee: £5,250
Full License: £36,750 per annum
Sub License: £5,250 per annum (conditions apply)
Network License: £52,500 per annum
Software Supplier License: £36,750 per annum
Token / Block chain-based Software Supplier License: £52,500 per annum

Tax Rates

Gambling Duty: This tax is based on the profit from gambling, not the total amount of money handled. The rates are:

1.5% on the first £20 million of profit
0.5% on the next £20 million of profit
0.1% on any profit above £40 million
Corporation Tax: 0% (no tax on company profits).
Capital Gains Tax: None (no tax on profits from selling assets).
Inheritance Tax: None (no tax on inherited money or property).
VAT: 20% (standard rate on most goods and services).

Fabulous BV Is Your Reliable Partner for Isle of Man Licensing

Our unmatched expertise, support, and valuable connections ensure your gaming license isle of man application has a higher success ratio. Our team is dedicated to making the process as efficient as possible.

Start Your Licensing Journey with Fabulous BV

Take the first step towards a successful gaming business by partnering with Fabulous BV. Contact our team today to begin your Isle of Man gambling license application and benefit from our strategic insights. Let us help you make the most of this opportunity and achieve your business goals with confidence. Schedule free consultation today.

Isle of Man: Get Competitive Edge in iGaming Licensing with Isle of Man