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Isle Of Man Establishes New Crowdfunding Regime

by Amanda Banks, Lowtax.net, London
18 May, 2016

The Isle of Man has established a new crowdfunding regime to enable crowdfunding platforms to establish their operations in the territory.

Existing crowdfunding platforms and those looking to operate from the Isle of Man will be required to apply for a new Class 6 Crowdfunding License from the Isle of Man Financial Services Authority.

Laurence Skelly, Minister for the Department of Economic Development, commented: "The new crowdfunding regime is a truly international initiative that is set to give a home to crowdfunding platforms looking to expand into a global marketplace. The new legislation has been designed to bring more business to the Isle of Man and further establish us as a home for innovation and entrepreneurialism."

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