Digital Services

Blockchain consultancy

The Isle of Man is a diverse digital nation attracting key industry players who want to operate alongside like-minded businesses.

The Isle of Man continues to embrace and nurture this evolving and fast-moving sector, the government has a digital department dedicated to the sector. It has set up a ‘sandbox’ which provides a proving ground for businesses to live-test their innovative offering.

The government has long expressed the desire to develop permissive legislation designed to encourage growth and the registration policy for designated businesses means that crypto businesses are required by the Financial Services Authority to register and have a physical presence on the Island with at least two resident directors, ensuring management and control of the business locally.

Businesses must comply with the Isle of Man’s anti-money laundering laws and proceeds of crime legislation has been amended to capture crypto related businesses operating from the Island. A money laundering reporting officer is required for designated businesses, whilst they do not need to be resident, they must have a thorough understanding of local regulations.

At ILS World the digital team understands the enormous potential of the block chain and we have been involved in many projects over the past 10 years:
• Blockchain eGaming licencing
• Global software licencing Non-fungible tokens (NFTs)
• Initial coin offering (ICO)
• Non-fungible tokens (NFTs)
• Crypto trading
• Holding digital assets
• Owning and monetizing intellectual property (IP).

How ILS World can help:
• Independent and objective advice on any blockchain for crypto related activity
• Assistance with the complex and demanding licence application
• Bespoke corporate structuring
• Company formation and management
• Provision of directors
• Foundation registration
• Tailored banking solutions
• Trademark and intellectual property protection
• Company administration
• Business incubation
• Accounting, bookkeeping and VAT
• Provision of AML and CFT manuals.

Richard MacNee
Group Business Development Director
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