The Anjouan Island is located in the African continent, Indian Ocean, at the entrance of the Mozambique Channel. It is part of the Comoros Archipelago (Islamic Federal Republic of the Comoros). It became independent from France in 1975 and, since 1999, it has obtained total independence from the Comoros Union. Thanks to its independence, the island could edit its own legislative system completely, somewhat developing off-shore activities and making this financial centre very attractive to investments.
The island’s official languages are French and Arabic, though English is widely used for business.
Anjouan’s situation is certainly unique, because Islamic culture nations allowing the existence of real casinos (not to mention online betting services) are very few. Any form of gambling is considered to be legal on the whole archipelago’s territory and its activity is regulated both in gaming rooms or pubs and bars enabled to perform betting points and casinos’ activities.
Since 2005, new laws planning a dynamical approach towards offshore business have been enacted;these laws assure maximum safety in transactions and fight illicit money laundering activities, as well as any form of organized crime related to the financial world.
Currently, Anjouan has got an efficient, fast, flexible and customer -oriented financial infrastructure. Very competitive, with the help of foreign experts, Anjouan’s financial system is constantly improving.
Anjouan Corporate Services Ltd
Anjouan Corporate Services Ltd is the society legally charged to represent Anjouan’s goverment and manage all the operations about online gambling activity license’s issuance. Every society registered pay every year a fixed fee for the licenses relative to online casinos here registered. As for Anjouan, unlike other legislations, the physical server through which you can manage game operations and money deposits can be located anywhere in the world. The profits can be managed through the Anjouan’s offshore banking system.
Anjouan Corporate Services Ltd requires the following practices for licenses releasing:
- The payment necessary to start a 'due diligence' procedure;
- A certificate of “good reputation” rated by Gaming Board;
- A morality certificate rated by Gaming Board;
Anjouan Betting and Gaming Board (ABGB)
The Anjouan Betting and Gaming Board (ABGB) cares about all the aspects regarding gambling game’s safety, regulations and control. This organ is an Anjouan Offshore Finance Authority (AOFA) extension, so all the companies receiving ABGB authorization must accept to follow further guidelines concerning financial management. The AOFA sets no limit to licensees in terms of outsourcing third society processes of payments regarding game services and bets. The operators can handle their profits through any bank.
The basic principles mostly taken into account from the Gaming Board as concerns license’s issues deal with:
- Financial capacity;
- Ethical behaviour;
These 'parameters' are valued in 'due diligence' process and the non-compliance of just one of them can bring to the non-issue of the license.
It’s ABGB’s task finding potential fraud trial, such as:
- Omission of fiscal responsibility;
- Evidence of money laundering;
- Lack of appropriate security standards
Types of licenses issued
Anjouan’s State issues licenses that allow bookmakers to operate online, as well as opening virtual poker rooms, online casinos and bingo sites.As for concerns law, they refer to The Betting and Gaming Act of 2005;it deals with online game and establishes the introduction of a Gaming Board in order to rate best the application of every single license.
Anjouan’s autonomous island offers the highest standards for the management of the legal procedures concerning online game and offshore banking. To obtain both types of license, all the customers will have to fill a request form;it will be issued a license to every IBC(International Business Company) only if all the criteria are satisfied.
IBC guarantees privacy and it’s appropriate for private property’s accounting and management. In fact, the IBC is not considered resident for taxation purposes and it can be created in less than 24 hours, once satisfied the 'due diligence' parameters. An IBC can’t hold real properties in Anjouan.
In the meanwhile, Anjouan’s regulation system, concerning all the offshore activities, facilitates the collaborations with international banks (because it belongs to SWIFT circuit). Furthermore, a special license is required in order to operate in banking, insurance and brokerage sector.
Costs for licenses’ request
The law of 2005, known as “Betting and Gaming Law”, fixed the guidelines for betting services and provides all the information about licenses’ issue.
Game and betting licenses are issued only to companies based in Anjouan. That means that the owners of operating societies must be registered in Anjouan and can operate in other subsidiaries with no restriction. No income taxes are imposed and no commission is required. Game licenses have an annual fixed fee which differs according to the type and includes all the legal and administrative fees. Legal costs are included in the license cost that firstly comprehends:
- An initial 20.000 dollars fee, necessary to start the license issue’s process;
- A further 1.400 dollars sum for administrative and regulative fees;
Documentation required for license issue’s request
The request must be edited on the request form and delivered along with the whole necessary documentation, that will include the KYC (Know Your Customer – customer identification process), through which the basic principles’ compliance by parte administrators and shareholders of the requiring company are valued.
For any demanding operator, KYC requires the following documents to be sent:
- An authenticated passport, driving license or ID card’s copy, reporting clearly name, date and place of birth, nationality, owner’s signature, output data and expiration. Each document must be certified by a lawyer, a banker, a solicitor or a chartered accountant in possess of an approved professional qualification;
- A valid proof of residence address (bill, bank account statement or credit card’s original document);
- Owner’s bank account details;
- Morality certificate (including all the data regarding criminal record);
These documents must be shown by each corporation at the Office of the Director of Public Prosecution for the roles of administrator, director, authorized signatory, partner/member of the corporation or agent.
Furthermore, the documentation required concerning the corporation is the following:
- Certificate of incorporation or registration;
- Certificate of incorporation and constitution or partnership statute, as well as Act de Société de Société (each document must be certified by a lawyer, banker, solicitor or a chartered accountant in possess of a professional approved qualification);
- An adequate certified copy of the recent sales;
- Certificate of Good Reputation (for Société);
- The list of the shareholders holding no more than 5% of voting rights exercisable in occasion of the meeting;
- Company’s structure and organization chart;
- A copy certified by the board resolutions authorities through which executives, corporate officers and employees have the opportunity to make commercial transactions in behalf and on account of the corporation;
- Anjouan Corporate Services
- Place Pangahari
- Mutsamudu, Anjouan
- Website: www.anjouancorporateservices.com