The Isle of Man has become the first jurisdiction to legally recognise data as an asset, following the passage of the Foundations (Amendment) Bill 2025 through Tynwald.
The new legislation creates a statutory framework for Data Asset Foundations, enabling organisations to govern, manage and demonstrate the value of their data within a clear legal structure.
Built on the existing Foundations Act 2011, the move is positioned as a major step in the island’s long‑term digital and economic strategy.
Data Asset
Digital Isle of Man, which developed the initiative, said the framework will support new commercial opportunities in areas such as data valuation, licensing, fiduciary services and investment.
Businesses will be able to share data securely with partners while retaining control, opening new pathways for growth and innovation.
Enterprise Minister Tim Johnston MHK said the Bill marks “a significant milestone” for the island, adding that data is becoming an increasingly valuable part of global business and that the framework strengthens the Isle of Man’s position as a trusted, well‑regulated jurisdiction.
Governance Framework
Lyle Wraxall, Chief Executive of Digital Isle of Man, said the legislation provides a practical structure for organisations to manage and realise the value of their data, while Head of Data Strategy Aga Strandskov highlighted the importance of creating a trusted governance framework for its use.
Digital Isle of Man will now develop secondary regulations, with a public consultation open for six weeks.
A pilot programme launched earlier this year is already demonstrating real‑world application ahead of full implementation later in 2026.
More information is available here.
