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).
Comprehensive guidance and assistance with all aspects of regulation
Liaison with payment solution providers, banks, computer hosting facilities, software suppliers, etc. as required
Guidance on anti-money laundering requirements and assisting with policy and handbook framework
Provision of an experienced Money Laundering Reporting Officer
Liaison with auditors, lawyers, IT and other professionals as required
International company incorporation
Establishing bank accounts
Provision of company directors and secretary
Preparation of accounts
On-going company administration and secretarial work
Local employment guidance.