As the global eGaming landscape evolves, many businesses are searching for the right licensing jurisdiction to support their growth and maintain a competitive edge.
While the experience and reputation of a regulator are crucial, there’s much more to the Isle of Man than meets the eye. Here are six compelling reasons why an Isle of Man eGaming Licence stands out from the crowd:
A Supportive Ecosystem and Financially Attractive Jurisdiction
Beyond licensing, companies should consider where to establish regional offices to manage their business functions. The Isle of Man offers a robust ecosystem, including leading advisory, legal, banking, data hosting, software suppliers, and corporate service providers with years of eGaming experience. The island’s financial incentives, low betting duty, low corporation tax, and attractive personal tax rates make it an ideal destination.
Preferred Partner of Third-Party Suppliers
Third-party suppliers often view the Isle of Man as a premier jurisdiction, simplifying business interactions and transactions. An Isle of Man licence can facilitate successful negotiations with merchants, software platforms, and hardware providers, particularly when Enhanced Due Diligence is required.
Smoother Entry into Regulated Markets
When entering regulated markets, companies should consider how prospective regulators perceive their current licences. The Isle of Man licence is highly regarded, often enabling businesses to pass due diligence for regulators in other countries. The island’s licensing process is streamlined, with all verticals under one licence and a typical turnaround time of 10-12 weeks.
Ease of Entry in New Markets: LATAM, Africa, and Asia
As businesses shift their focus to emerging markets like LATAM, Africa, and Asia, the Isle of Man’s vast experience in these regions makes it the perfect licensing partner. With higher AML/CFT and KYC standards now required, the Isle of Man’s expertise is invaluable.
An Innovative Regulator
The Isle of Man regulator’s commitment to innovation is another key advantage. As eGaming products and user access methods continue to evolve, staying at the forefront of the latest developments is essential. The Isle of Man was the first top-tier jurisdiction to introduce legislation allowing digital currency and virtual items, such as skins, to be used as a stake and prize.
Location, Location, Location
The Isle of Man’s location within the Common Travel Area offers numerous operational and logistical benefits for companies, including 200 flights per week to the UK and Ireland and the ability to use pre-customs clearance for trips to the US from Dublin.