The Isle of Man’s Data Asset Foundations legislation has received Royal Assent, formally establishing the world’s first statutory framework for recognising and governing data assets in law.
The move completes the legislative phase of the island’s Data Asset Foundations programme and marks what government describes as a major step in its long‑term digital and economic strategy.
Developed by Digital Isle of Man with industry partners and the EDM Association, the framework aims to address global challenges around data governance, sharing and commercial use as organisations scale AI and data‑driven services.
Enterprise Minister Tim Johnston MHK said the island is now the first jurisdiction to create a legal structure for governed data assets, calling it “a major step forward in positioning the Isle of Man at the forefront of the global data economy”.
Work is already underway on the next phase, including secondary regulations, operational infrastructure and the creation of the Data Asset Register, set to become the world’s first statutory register for governed data assets.
Industry pilots and engagement with Corporate Service Providers are also progressing to shape how the framework will operate in practice.
Aga Strandskov, Head of Data Strategy at Digital Isle of Man, said Royal Assent provides the trusted legal foundation needed for large‑scale data use, while EDM Association President John Bottega described the island’s achievement as “a model the world will follow”.
