Isle of Man eGaming License Information

 

Estimated time required (corporate establishment):

3-4 months from the submission of the license application form.

 

Highlights: ⁃

- The license is valid in all markets where gaming is not regulated or is very lightly regulated.

⁃ Reputation is high.

⁃ Very stable regulatory framework and friendly regulatory authorities

⁃ Local bank account opening possible

⁃ 1% corporate and dividend tax

⁃ Very low gaming duties (gaming revenue tax) - 0.1%-1.5% of revenue

⁃ One license covers all gaming activities possible

⁃ Cryptocurrency-friendly (casinos can accept cryptocurrency and fiat currency stakes)

⁃ No minimum capital requirement

⁃ No requirement for a physical office in the Isle of Man

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Key requirements:

⁃ Two local directors (residents of the Isle of Man) - we can provide them

(estimated cost of £1,000 per month per person / estimated cost of £6,000 for local recruitment and preparation of employment contracts)

⁃ MLRO - not mandatory

⁃ Registered office address - We can provide (legal local address, not actual office)

⁃ Local server - Connect to local service provider

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State fees:

Application fee - £5,250 (one-time application fee)

Annual license fee - £36,000 (paid annually after license approval)

Professional Service Fee (Our Fee) - from £26,000 (*Fees vary depending on the complexity of the project)

 

Services included:

⁃ Management of the Isle of Man company until the license is issued (approximately 16-20 weeks)

⁃ Communication with regulatory authorities and support in preparing the necessary documents, including:

• Application form

• Examination form

• Business plan

• Risk assessment

• Policies and procedures

• 'Go Live' confirmation support

⁃ Opening a bank account

⁃ VAT registration support and legal advice for service companies

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Required documents:

1. A copy of the shareholder/director's passport 2. Original verification of the shareholder/director's passport

- Korean passport: English passport copy certificate (issued by the district office or city hall) ( Sample )

- Passport of another country: Certified True Copy or Notarial Certificate ( Sample )

3. Proof of address of shareholder/director (issued within 3 months of the date of issue) + Certified True Copy (provided by the company)

- Residence in Korea: English certified copy (resident center) ( Sample )

- Living in another country: Utility Bill or Bank Statement (or equivalent official document) (View Sample)

4. Copy of ID (driver's license or resident registration card) + Certified True Copy (provided by the company)

5. Expert recommendation letter (Request to write an expert recommendation letter)

- Those who can sign a letter of recommendation: Accountant, lawyer, judicial scrivener, tax accountant, labor consultant, administrative scrivener, etc. (View sample)

6. Reference Letter from the Bank (proof that you are a customer of the bank)

7. English resume

8. English criminal record report (*No criminal record)

9. Declaration of source of funds

10. Declaration of source of wealth

11. Company governance chart (stating shareholding and country of incorporation)

12. Business plan (general version acceptable)

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Procedure:

1. Submission of required documents by shareholders/directors

2. Service details and confirmation of acceptance:

3. Payment of fees

4. KYC and due diligence

5. Signing of incorporation documents

6. Establishment after receiving documents

7. Preparation of license application documents after incorporation

8. License application and government response

9. License issuance after government review

10. Start of business after familiarization with operational policies and regulations