Why get a gambling license in the Isle of Man?.
The Isle of Man is one of the most popular jurisdictions for obtaining a gaming license. The Isle of Man gambling license holders includes such well-known gaming platforms as European Poker Tour, PokerStars, Link2bet and MollyBet.
This article describes in detail the advantages of the Isle of Man gaming license and the licensing process.
Advantages of the gambling license in the Isle of Man
We have identified 7 key reasons to obtain a gaming license in the Isle of Man:
- Low taxes: no added value tax, zero corporate tax rate, low personal income tax.
- Option to get a full license or a sublicense with a comprehensive gaming package.
- Cryptocurrency-friendly attitude, capacity to accept it as payment.
- Potential to market in the UK. This function is commonly unavailable for other licenses.
- Option to operate all gambling categories at once (bets, poker, slots).
- No restrictions concerning the citizenship of ultimate company beneficiaries.
- Opportunity to extend the operations beyond Europe to Commonwealth countries, including Canada and New Zealand.
How does one get a gaming license in the Isle of Man?
The licensing process is quite easy and clear. Gambling licenses are issued in the Isle of Man within 20 weeks, subject to the regulator’s requirements:
- the gaming operator must be registered in the Isle of Man;
- two local directors should be appointed;
- gaming and trading accounts need to be set up with an Isle of Man bank.
SBSB Legal Firm has an extensive portfolio of gambling license issues in the Isle of Man and multiple other jurisdictions. Our experienced lawyers will help tackle all the licensing issues. And you can get a free online consultation via our Telegram chat.