Based on its superior technical infrastructure and thriving eBusiness industry, the Isle of Man is fast becoming a popular centre for Fintech businesses.
Fintech is a sub-sector of the eBusiness sector and is important because it is driven by powerful technologies that can streamline business processes and transaction efficiencies.
Why choose Isle of Man for Fintech?
The Isle of Man has been positioning itself as an investment grade jurisdiction and as a centre of excellence in order to attract more Fintech business to establish operations as part of our successful eBusiness cluster.
The Department of Economic Development has a strong pipeline of interest from Fintech firms looking to establish in the Isle of Man and success stories in this sector include CoinCorner, Credits, Global Processing Services, Paysafe and Riva Financial Systems.
The Isle of Man proposition includes:
- Status as a renowned international finance centre
- Well-established existing digital business ecosystem/community
- Regulation/compliance specifically designed to accelerate industry growth
- Fintech expertise in the Isle of Man (legal/ tax/ technical)
- Highly resilient and stable telecoms and power infrastructure, including 6 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)
- Competitive tax regime (neutral corporate tax regime) (no tax on capital gains or dividends)
How we can help
Our objective is to support new businesses with practical support and a high quality service delivered in a timely manner. We can introduce you to an extensive network of local service providers and advisors that have a wealth of experience and expertise that can help you set up your Fintech business quickly, cost-efficiently and successfully.