Analysis ISLE OF MAN (PTII)
46 licensees of which 40 per cent are focused outside the UK and the EU.
The benefits of holding a licence within the IOM include:
• A clear and simple tax regime
• Low betting duty of between 1.5% and 0.1% on gross profit.
• A preferred location for non-UK companies wishing to incorporate when listing on AIM.
• No capital gains tax, inheritance tax or wealth tax.
• Attractive personal tax rates with high personal tax allowances. Individuals receive a £9,300 personal allowance (or £18,600 for jointly assessed).
Isle of Man relating to online gaming were the Electronic Transactions Act back in 2000 followed by the Online Gambling Regulation Act (OGRA) in 2001. These two acts basically legalised online gaming in the country.
By 2002 five gaming operators had licences in the Isle of Man but because of the market situation they then relinquished them. After the downslide in 2002 various steps were taken to rescue the situation. Licensing was brought under the umbrella of the Department of Trade and Industry whilst the huge insurance bond of US$2m operators had to pay was replaced by a lower bond. Then in 2005 the income tax on the IOM was brought down to a zero rate.
By 2009 there were 16 operators with licences on the Isle of Man and in 2010 there were 38 licensees Today there are
• Income tax payable per year is capped at £115,000 per person.
• Generous grant assistance for businesses available.
• The IOM has become a Tier 1 jurisdiction with excellent legal and accountancy firms.
In addition the IOM is UK ‘White list’ accredited and is an ideal jurisdiction for AIM or FTSE stock market listing. There are government grants available of up to 40 per cent towards the cost of relocation, marketing, hardware and software plus annual government funding of up to 50 per cent available for training.
The Isle of Man has excellent infrastructure with world class telecoms systems including two self healing rings
“We consider IOM to be an example
for many countries searching to find a blueprint of how it
can and should be done. The player
protection program has especially
proven its value and their strong
focus on security, fraud and
verification is an issue many
countries would like to adopt. This will position IOM and their licensees comfortably in obtaining (sub) licences in other countries as well.
We look forward to a cooperative structure.”
AB OLDE-SCHEPER, TWLV.
serving the island and has a totally self sufficient power infrastructure. Fibre optics are in place and the country boasts political stability plus there is of course the huge desire from the government to welcome companies and businesses to the island.
So why the Isle of Man? “We chose the IOM because of its reputable position, the excellent facilities towards data hosting, the proven player protection program and corporative government,” said Ab Olde-Scheper of TWLV.
“We consider IOM to be an example for many countries searching to find a blueprint of how it can and should be done. The player protection program has especially proven its value and their strong focus on security, fraud and verification is an issue many countries would like to adopt. This will position IOM and their licensees comfortably in obtaining (sub) licences in other countries as well. We look forward to a cooperative structure.”
Aidan Murphy of Trada Games said: “We chose the IOM because of reputation, trust, player protection, ease of doing business, world class internet connectivity and hosting, access to UK players, helpful Department or Trade and Industry, easy travel to and from the UK and fair levels of gambling duty.
“E-gaming on the IOM has a great future given the solid and trusted reputation the IOM Gambling Commission and government have established. The IOM DTI works with the gambling commissions and other European countries to try to find solutions to cross
April 2013 PAGE 53
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