Over the past few years, the Isle of Man has made significant progress in making the island one of the best locations to set up shop as a blockchain or digital currency business. However, coronavirus has made it difficult for businesses looking to operate out of the Isle of Man to relocate to the country. Fortunately, the Isle of Man Financial Services Authority (IOMFSA) has come up with a solution to that problem.
Under normal circumstances, a business registered in the Isle of Man needs to have a physical presence on the island and have at least two Isle of Man resident directors to ensure management and control of the business is on the Island. But as we all know, coronavirus has made cross-border travel difficult, and nearly…