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Mark O’Neill is the Director of Global Gaming Solutions, one of our regulatory partners. In the second part of our weekly series, which focuses on the Isle of Man we present insights from Mark O’Neill. Mark O’Neill discusses in this article the benefits of securing an Isle of Man Software Supply License.
A license issued by the Isle of Man, which is known for its high regulatory standards, is a sign of trust and transparency. A license of this kind is a testament to the commitment of a software provider to provide a reliable and secure service for its clients. Software providers, resellers and aggregators are in a great position to get a strong and credible license, as regulatory changes are on the horizon for multiple jurisdictions.
Software providers should know these key points:
- 12 weeks license turnaround;
- Isle of Man licensed operators are more successful in securing banking than Curacao and Kahnawake operators, Costa Ricans, or Malta operators.
- Tax regime with 0% corporation tax, 0% capital gains taxes;
- Isle of Man B2C operators are allowed to deploy B2B licensed B2C games on their website without the need for a RNG certificate.
- No restrictions on player registration, such as server location or KYC/AML requirements for B2B licensees.
- 25% of Isle of Man licence holders currently target LATAM markets
- Blockchain Token Software Licensing
Protecting Integrity in Operations
Achieving an Isle of Man Software Supply License shows that a business operates within a regulated and trusted framework. This enhances its reputation with both clients and content providers. This license is proof of the company’s commitment to industry-best practices. This license is a sign that the software provider adheres to internationally recognised standards, and respects legal and regulatory requirements.
Enhancing client trust and confidence
In an age where many business transactions take place virtually, trust is a precious commodity. Clients and suppliers alike often look at a company’s certifications and licenses to determine its trustworthiness. Software Supply Licenses from the Isle of Man are more than just pieces of paper. They give clients confidence that they’re dealing with an internationally recognized, reliable and well-regulated business. In recent years, it has become more apparent that software providers need to show key stakeholders that their corporate governance standards are high. We are now seeing an increase in the number of software suppliers, aggregators, and resellers requesting an Isle of Man Software Supply License.
Ensuring Legal Compliance
The Software Supply License is also used to enforce compliance with Isle of Man legal requirements. These regulations ensure ethical business conduct and level the playing field in the industry. Software suppliers who are licensed must adhere to fairness, security, and transparency principles. This protects the interests of everyone.
Drive Business Growth
A Software Supply License issued by the Isle of Man may also have a significant impact on a company’s trajectory of growth. This license opens up new business opportunities both domestically and internationally, as other jurisdictions or potential partners recognize the value and reliability of this license.
Commitment to quality
Securing a Software Supply License on the Isle of Man is a sign of a company’s commitment to fairness, quality and safety. It gives a company a competitive advantage in a global market that is constantly expanding, resulting in trust and confidence among clients, industry partners, and stakeholders.
An Isle of Man Software Supply License, as a result, is a valuable asset that enhances a company’s reputation, builds trust with clients, ensures compliance with the law, and promotes business growth. This license is essential for software suppliers who want to succeed in the global marketplace.
For additional information, please visit Global Gaming Solutions website at www.globalgaming.solutions. Mark O’Neill is the Director of Global Gaming Solutions. If you would like to speak with him directly, email him at [email protected].
