Fintech businesses are attracted to the Isle of Man due to its technical infrastructure, reputation, regulation and legal system whilst the Island has enthusiastically courted the sector.
The Island has a world class infrastructure, bandwidth and power resilience together with excellent data hosting facilities. There is a qualified and skilled workforce and a cluster of service providers, advisers, software and IT providers.
The Isle of Man proposition includes:
• Status as a renowned international finance centre
• Well-established existing digital business community
• Regulation and compliance specifically designed to accelerate industry growth
• Existing Fintech expertise on the Isle of Man (legal/ tax/ technical)
• Highly resilient and stable telecoms and power infrastructure, including six Tier 3 certified Data Centres
• Access to loan and equity funding available via the Enterprise Development Scheme.
• Financial Assistance Scheme available on up to 40% capital expenditure (on successful application).
• International company incorporation
• Establishing bank accounts
• Provision of company directors and secretary
• Preparation of accounts
• On-going company administration and secretarial work
• Record keeping
• Local employment guidance
• Liaison with payment solution providers, banks, computer hosting facilities, software suppliers, as required
• Liaison with auditors, lawyers, IT and other professionals, as required.