The Isle of Man is an ideal place to obtain a gaming license in 2020.
Gambling business, is going through its second birth. Several years ago this sphere was discredited and even prohibited, so the level of competition in it has significantly decreased. Experts argue that 2020 is the best time to start gambling business legally and achieve good profits in a short time. Gambling license on the Isle of Man is issued for a long time, allows the activity of both real and online casinos, and you can get it remotely and in a short time.
Advantages of a GAMBLING jurisdiction
The Isle of Man is a separate territorial unit under British patronage. It has an excellent reputation in the global community, despite the fact that its government encourages the development of the gambling business, which is considered risky and "semi-legal" by all means. In addition to the prestige, security, and white list of the EU, the jurisdiction has other advantages:
- belonging to the European Union's trade zone and access to most major countries in the world;
- lack of currency control;
- the developed legislative framework in the sphere of gambling activity regulation;
- the developed area of IT-technologies;
- economic and political stability;
- highly qualified and inexpensive labour force;
- The amount of taxes - only 1.5% of the profit.
Gambling licenses issued on the Isle of Man are suitable for all types of gambling, have a long term of validity (5 years), increase the prestige of the companies-owners, by creating a sense of security for their clients, and make the gaming business absolutely legal.
In the jurisdiction, it is possible to issue three types of licenses for gaming: full, sub-license and "network services". The first two types are similar to each other, they are suitable for the organization of the vast majority of gambling, and their difference is that the holder of a full license may receive additional income by issuing sub-licenses. The license for network services allows you to use a variety of online platforms to promote services.
How to get a gaming license for the Isle of Man
The minimum cost of a full license is currently £36,000, a sub-license is cheaper - just £6000 per year. This amount includes an administrative fee of £1,000 payable each time you apply. Businesspeople have a direct financial interest in obtaining a license for the first time. Qualified IT-OFFSHORE specialists can help. We have many years of experience and will tell you about all the "nuances" and "pitfalls". There are 5 main stages of obtaining a license for gambling business:
- registration of a company that needs a license;
- placement of its servers on the territory of the island;
- opening the necessary corporate accounts with one of the local banks;
- preparation of the verification documentation package;
- confirmation of guarantees of safety of games and lack of access to them by minors.
It usually takes 3 months to review an application for a license and to process its registration. After its receipt the owner is responsible for paying taxes: from 0.1% to 1.5% depending on the amount of annual income.