CalvinAyre.com says – Alderney was gaining a lot of respect in recent years. Alderney boasts a 0% tax rate and no market restrictions. It’s an attractive option for new companies but they need to rebuild their public image after Full Tilt Poker collapsed around them.
Alderney’s regulatory structure is one of the most respected in the world of iGaming. The British Channel Island is located off the east coast of France and as such, enjoys good weather at certain times of the year. It is highly valued in global financial markets as one of the safest offshore financial centres on the planet.
In terms of remote gambling, licensees have to be limited companies and pay no corporation tax or additional taxes with the system dependent on license fees. For B2B businesses, taxes are based on the company’s net gaming yield ranging from £35,000 per annum all the way up to £140,000. B2C businesses pay an annual fee of £35,000 every year and expected to pay an additional fixed fee of £10,000 a year.
Licenses last for 12 months and local banks handle all transactions meaning that everything is safe on the island. They also have their own stringent money laundering expectations and periodical financial reports are a requirement. The fact that there are no restrictions on where you can take wagers from could be a problem if regulations are unclear in those locations.
Type of Company Entity Available for iGaming Firms:
Must be a limited company
Corporation Tax Rate:
0%
Additional Gaming Tax Rate:
None
Minimum Share Capital for an iGaming Company:
£2.00
Security Requirements/Indemnity for Players Deposits:
A variety of mechanisms are acceptable commensurate with the Business Plan and commercial performance of the operator.
License Fee:
Two different categories of license: Category 1 (B2C license) and Category 2 (B2B license)
Category 1 fees are based on annual Net Gaming Yield (NGY) and are £35,000 in the first year regardless of the NGY. In the second year they are as follows:
- NGY up to £1m – annual fee £35,000
- NGY of £1m to £5m – annual fee of £70,000
- NGY of £5m to £7.5m – annual fee of £100,000
- NGY in excess of £7.5m – annual fee of £140,000
Category 2 licenses carry a fixed £35,000 annual fee and are broken down as follows:
- Associate Certificates (typically for key software suppliers) carry a fixed annual fee of £10,000.
- Temporary Use Licenses (typically for disaster recovery purposes) carry a fixed annual fee of £10,000.
License Duration:
12 months
Do Local Banks Process Online Gaming Transactions:
Yes
Bandwidth Type Available:
All types are available from a number of suppliers
Software Testing Requirements:
It must reach technical standards published by the AGCC
Reporting Requirements to the iGaming Regulators and/or Financial Regulator:
Periodical financial reports must be given to the regulator
Anti-Money Laundering Policy for iGaming Firms:
All firms must comply with AML legislation
Restrictions on Jurisdictions from which you can take Wagers:
There are no restrictions
Contact Details of Government Department or Regulator:
Robin Le Prevost
Director of E-Commerce Development
States of Alderney
PO Box 15, St Anne’s
Alderney
British Channel Islands
GY9 3HT
Phone Number: AGCC: +44 1481 825500
Website: www.AlderneyGambling.com
Email: [email protected]
