In his latest analysis, iGaming industry consultant Ron Mendelson, Fast Offshore, discusses the keys behind Anjouan’s growing popularity in the online gambling realm and explores the main benefits driving its success.
Anjouan, a small island in the Indian Ocean that many of us might struggle to pinpoint on a map, has become a regular on the lips of iGaming industry stakeholders over the last 18 months. Amid increasing regulatory change and uncertainty in Curacao, as well as tightenings and shifts in other jurisdictions, Anjouan has emerged as a prime location for licensing. But contrary to popular belief, it is not a new player in the game. The Anjouan authorities have been issuing iGaming licenses since 2005, but it has only recently, in the wake of the changes mentioned above and regulatory streamlining, that it has gained popularity. In recent months, authorities have issued some 100 licenses, with more in the pipeline, and at Fast Offshore, we have seen inquiries soar.
So what is behind its popularity, and what benefits are driving its success?
Quick setup time
The Anjouan license is the quickest to acquire globally, taking as little as two weeks as long as your paperwork is in order. This is the only jurisdiction that can process licenses in such a short space of time, offering a significant competitive advantage over others such as Kahnawake and Curacao. And this speed is not due to cutting corners. There is still a full application process to go through with all the checks and balances you would expect- just the authorities pledge to do it quickly, understanding the need for operators to be up and running and profitable as soon as possible. When you work with us at Fast Offshore, we can also make the preparation stage as quick as possible, shortening the time it takes to gather, certify, and approve all the documentation needed before the application is made. This also reduces the chance of any issues with approval or possible delays due to missing or incomplete information.
Low costs
Getting your hands on an Anjouan iGaming license will cost you less than any other jurisdiction offering licensing. While the actual cost will depend on your exact circumstances, including corporate setup, involved individuals, and nature of business, it remains the lowest and most affordable for startups, solo entrepreneurs, and more established companies. In addition to low startup costs, the ongoing maintenance process is also cost-efficient, meaning you don’t need to spend a fortune on corporate fees, reporting, audits and other matters every year, like with some other jurisdictions. Lower costs mean you have more money to invest in games, marketing, and expanding your business rather than being tied up in red tape and bureaucracy.
Experienced authorities
As mentioned earlier, Anjoua has been licensing operators since the mid-2000s, meaning its authorities are aware of the sector and its challenges. The authorities are experienced in all matters of iGaming and are responsive, knowledgeable, and responsible. Furthermore, they are also keen to support innovation and growth in the local sector, welcome operators, provide a flexible regulatory regime and support techs like crypto and blockchain, AI and VR, eSports, and games that offer human interaction or work in the metaverse. This is essential for the burgeoning sector, which increasingly has to leverage new tech to ensure it remains competitive. In Anjouan, with its stable and receptive authorities, the future of your business remains in good hands.
Regulated environment
While Anjouan may not be the most well-known jurisdiction out there, its license is legitimate, and its reputation is solidifying every day. Holding an Anjouan license will allow you to open a bank account with a banking institution, partner with payment provers and gateways, and to work with game studios and other entities that require a license. It provides clear rules and standards that must be adhered to, including responsible gambling, player protection, and, of course, those related to anti-money laundering and counter-terrorist financing, amongst others. Holding an Anjouan license means you operate according to regulations. The fact that Anjouan is not as well known (yet) as other jurisdictions does not change this fact.
Compliance checks and balances
As mentioned, holding an Anjouan license means you have adhered to compliance checks and balances at the onboarding stage and when it comes to renewing the license. Part of this includes providing information on the corporate entity, shareholders and key figures, the operation’s size and makeup, and the business’s validity. In addition, there is software testing, compliance checks, and supervision to ensure businesses adhere to standards and operational practices that are both expected and required. This means that players and partners can be assured they are working with a legitimate entity when they partner with Fast Offshore to get an Anjouan license.
Favorable tax regime
When you get an Anjouan license and set up your iGaming company there, you can benefit from 0% gaming and income tax. This creates a favorable fiscal environment for businesses, removing the burden of paying high taxes and meaning there is more to invest in other aspects of the business. You are also not required to have tax residency or a physical presence in the jurisdiction.
Flexibility
When you get an Anjouan gaming license, you can carry out all kinds of iGaming activities, regardless of game type. It also includes B2B and B2C activities, meaning there is less red tape for you if you want to expand into different areas and markets in the future. This one-size-fits-all approach is helpful and efficient, meaning you just have to worry about one license application and one set of costs for however long you decide to stay there.
At Fast Offshore, we have some 27 years of experience in the iGaming sector. This covers all the main jurisdictions, including Malta, Isle of Man, Kahnawake, Curacao, Costa Rica, and Anjouan. We have been working hard with the local authorities to drive forward interest in the Anjouan license, assisting countless operators, just like you, in getting set up there. To take advantage of our unparalleled expertise and to take the first steps towards getting an Anjouan iGaming license, contact a member of our team today.
Original article: https://www.yogonet.com/international/noticias/2024/04/09/71655-seven-lucky-benefits-of-the-anjouan-igaming-license
