Restricted Casinos in Isle of Man
The Isle of Man is one of the most attractive jurisdictions for the founding of online gambling. The state was the first among offshore companies to include its regulation in its right (2001), and over the past years significantly improved the regulatory framework. The island belongs to the possessions of the British Crown, it is a prestigious jurisdiction, with which most counter-parties and banks work around the world.
The National Commission closely monitors the observance of the rights of players, and casinos registered on Man have a good international reputation. Among other advantages of jurisdiction are: Show more
- Absence of division into class subtypes means that applicants need to submit a single package of documentation for all gambling activities;
- You can obtain the sub-license of the Isle of Man: the on-line casino will operate on behalf of a large brand, and will subsequently be able to operate separately;
- A variety of types of gambling – stock and sports betting, casino, sweepstakes, fantasy games, lotteries, financial trade (certain types), Internet services and so on;
Stability of the legislation – it is British, and in addition to belonging to the European community and the opportunity to advertise itself in the United Kingdom, the jurisdiction provides an opportunity to use liberal and well-structured norms.
Features of licensing on the island
The work of firms associated with online gambling is taxed at rates ranging from 0.1 to 1.5% (depending on revenue – as smaller its size is, so larger the contributions). For sweepstakes there are separate payments – 15% of the pool. The cost of obtaining permits for the activities of on-line casinos on the Isle of Man is £ 1,000. Every year it is necessary to pay another 35 thousand for the extension of the full or 5 thousand – sub-license.
To obtain a permit, you must:
- register a company on the island;
- open a bank account here;
- appoint two directors and the representative – an authorized resident of Man.
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