Banking License in Isle of Man

• Accepting deposits and other repayable funds

• Lending (retail/corporate/secured as authorised)

• Payment services and card issuing/acquiring (via scheme memberships)

• Foreign exchange and money‑market operations; treasury/ALM

• Custody/safekeeping and ancillary banking services

• Investment services (with appropriate permissions/registrations)

• Local incorporated entity or approved branch; effective mind & management on‑island

• Capital adequacy & liquidity per IOMFSA rulebook; ICAAP/ILAAP‑style and recovery planning

• Sound governance: fit & proper board and management; independent control functions (risk, compliance, audit)

• Risk management framework (credit, market, liquidity, operational) with stress testing & limits

• AML/CFT framework per Isle of Man law; sanctions screening; transaction monitoring; STRs to FIU

• ICT & operational resilience; incident reporting; BCP/DR and outsourcing/vendor oversight

• External auditor; regulatory and statistical reporting to IOMFSA

Core on‑island team (indicative):

• Board with independent member(s)

• CEO; CFO; COO; CRO (Risk)

• Head of Compliance & MLRO (with Deputy MLRO)

• Head of Internal Audit (independent)

• Treasury/ALM lead; Credit/Risk leads

• IT/CISO; Operations & Payments leads

• Finance/Accounting; Legal/Company Secretary

• Core banking platform; digital onboarding & KYC

• Payments connectivity (local/UK/EU rails via partners), SWIFT; card issuing/acquiring

• Treasury/ALM, liquidity & interest‑rate risk systems

• AML suite (IDV, screening, monitoring, case management)

• Regulatory/financial reporting with audit‑ready trails

• Information security (IAM, logging, DR/BCP) and vendor/outsourcing management

• Fraud prevention & transaction monitoring; complaints management

Domestic operations on the Isle of Man; cross‑border services via correspondent arrangements and host‑country rules.

• Corporate income tax: 0% standard (most trading companies).

• No capital gains tax; no stamp duty on share transfers (with exceptions).

• Payroll and other local taxes per Isle of Man law.

• Operational and settlement accounts with UK/EEA correspondents; SWIFT/BIC connectivity.

• Participation in the Isle of Man DCS (for eligible deposits) per scheme rules.