Channel Island of Jersey New Licensing Jurisdiction

Channel Island of Jersey New Licensing Jurisdiction Local economy to profit

This week, the Channel island of Jersey became a new online gambling licensing jurisdiction, as its government decided to finally sign off on legislation regulating this area.

It was reported that, thanks to the fact that Jersey is already a tax heaven, this new legislation will result in millions of pounds in revenues for the local economy.

The legislation was passed by the parliament with a 43 to 4 vote, which enables the new jurisdiction to become operational in just two weeks.

As for the provisions of the new legislation, it proscribes a minimum amount of GBP35 000 a year for the license for operators. However, if their revenues exceed GBP1 million, they will have to pay over GBP70 000 a year, and if they earn more than GBP6.5 million, the license amount will jump to GBP140 000.

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