The Anjouan license has experienced growth over the last few years, rising in the online gaming world from a relatively unknown jurisdiction to a highly sought-after hub. In his latest analysis, iGaming industry consultant Ron Mendelson, Fast Offshore, explores some of the key questions he receives daily.
Over the last two years, the Anjouan license has become more prominent among iGaming industry stakeholders. Whereas once it was little known, today it is seeing more interest than ever before, with hundreds of operators moving there or considering it for their iGaming businesses. Located in the Union of the Comoros in the Indian Ocean, Anjouan offers a safe harbour for startups and established companies who want a reliable, secure, cost-efficient, and simple licensing jurisdiction.
If you are looking for an alternative to Curacao or just want to set up your online casino or betting site in a jurisdiction with low costs and minimal red tape, then Anjouan could be for you. Read on for the answers to some of the key questions we field daily.
What must I submit as a part of the application process?
When you apply for an Anjouan iGaming license, you must submit several supporting documents. Exactly what these documents are will vary depending on your specific and individual circumstances, but generally, they will include a business plan, proof of domain ownership, a software agreement, and a certificate of game fairness. You will also have to provide copies of policies that must be displayed on your website, including Terms and Conditions, AML/KYC, and Responsible Gaming. Last but not least, you should be prepared to provide information on the ultimate beneficial owners, directors and shareholders. This can include identification documents, proof of address, background checks and information on the source of income. You must also show evidence that you have a legally registered gaming business.
What types of activities are covered by the Anjouan license?
Holders of the Anjouan iGaming license will find they can offer their players a wide range of online gambling services. These include crypto and fiat gambling, live dealer games, slots, sports betting, eSports, online casinos, lottery, and all games of skill and chance. The framework also allows other gaming services to be offered, all under one single license. This makes it easy and cost-effective for operators wanting to branch out into different sectors without worrying about investing in additional licenses.
How do the Anjouan authorities ensure integrity and fairness under its jurisdiction?
Some may say that Anjouan is not well known or that its authorities have a somewhat lax attitude towards regulation, but this is not true. In recent years, the authorities have made strides in streamlining the process while also working to bolster the jurisdiction’s reputation. While the authorities do take a somewhat hands-off approach to regulation, they place a premium on fair gaming, honesty and integrity. They implement monitoring and audits, checks, and testing to ensure operators are transparent and compliant with their operations. These, as well as other measures, aim to uphold the jurisdiction’s reputation while preventing fraud, money laundering, and financial crimes.
What are the fees and costs associated with the Anjouan iGaming license?
The Anjouan iGaming license is one of the most cost-efficient in the world with low set up costs and application fees, as well as low ongoing maintenance obligations. The exact price will depend on your exact circumstances but includes the application process, annual licensing fees, and compliance related costs which in turn depend on the size and type of your operation. To find out more about how much an Anjouan license will cost you, just ask Fast Offshore to give you an estimate.
What are the ongoing compliance and regulatory obligations license holders must stick to?
To maintain your Anjouan iGaming license, you will have to ensure you continue to adhere to the applicable legal requirements such as annual reports, payments of a fee, and undergoing, where necessary, a review process. You must also ensure you update the authorities of any changes to your corporate structure, directors, shareholders, ultimate beneficial owners, or similar.
Overall, if you stick to the original terms of your license, ensure everything is kept up to date, stay on top of fairness, deal with issues or complaints, and remain transparent, you will have no issues when it comes to renewal. At Fast Offshore, we can assist with all ongoing maintenance for you, ensuring you tick all the boxes, don’t miss any deadlines, and keep your license in good shape.
How do the authorities handle complaints or disputes involving players or license holders?
When a player makes a complaint against a license holder, the Anjouan authorities have established a procedure whereby they mediate and investigate the allegation and reserve the right to enforce disciplinary measures. The authorities are also constantly on the ball regarding emerging threats and keeping up to date with international best practices in iGaming regulation. They seek to stay in line with these and emerging trends, regulatory changes, or initiatives to ensure the jurisdiction can compete with other names like Kahnawake Curacao and even more established names like Malta and the Isle of Man.
At Fast Offshore, we have a long-standing relationship with the authorities of Anjouan and three decades of experience in iGaming. Our team of professionals are on hand to guide you through the application process with ease, helping you make the right choices and ensuring your application ticks all the right boxes. Even if you decide Anjouan is not the right choice for you, we can help you weigh up the other options and pick a jurisdiction that supports your business goals. To find out more, contact us today!
Original article: https://www.yogonet.com/international/noticias/2024/04/10/71656-key-questions-on-anjouan-igaming-license-answered
