The local government said the changes will further enhance the island’s regulatory framework in order to develop the egaming sector and its significant contribution to the island’s economy.
The changes developed in conjunction with London law firm Berwin Leighton-Paisner relate to the following three areas: software testing, disaster recovery provision and advertising and marketing.
New regulations will allow for a reduction of costs and complexity of compliance for license holders by simplifying the software approval process, operators licenced and regulated in other jurisdictions will be allowed to use the telecoms infrastructure and IT skills available on the island, and finally will enable specialized activities of advertising and marketing to be established, managed and controlled from the island.
“These are exciting and dynamic times and the Isle of Man with its 0% corporate tax strategy, nil capital gains, world-class telecommunications infrastructure and regulatory framework, will continue to be a leading jurisdiction for supporting the industry and its operators,” said Bill Mummery, head of e-gaming development for the Isle of Man Government.
Calculators
