If you are an entrepreneur looking to launch an online casino or venture into the online gaming industry then obtaining an Anjouan Gaming License can be a cost-effective and straightforward option. Anjouan, an offshore jurisdiction, offers a recognized and regulated gaming license at an affordable price.
In this short blog we will walk you through the easy steps to acquire an Anjouan Gaming License, allowing you to establish your online gaming business with confidence.
So, let’s shed light on how you can get your Anjouan gaming license.
What are the Advantages of Anjoun License?
An Anjouan Gaming License brings several advantages to your online gaming business. It is recognized by banks, financial institutions, and gaming B2B companies, which enhances your credibility and facilitates partnerships.
Moreover, this license is similar to the well-known Curacao license, making it an attractive choice for entrepreneurs. Anjouan’s reasonable cost and compliance with regulations also make it an excellent option for startups.
What are the Requirements for Obtaining a Gaming License in Anjouan?
If you are looking to get a gambling license in Anjouan, there are certain requirements you need to meet. These requirements are in place to ensure that the person applying for the license is trustworthy and reliable. To pass the verification process (KYC), a background check is necessary on the following individuals associated with the company: the founder, officers, authorized persons, shareholders, directors, and beneficial owners.
To complete the verification, you will need to submit the following documents:
1. Copy of your current passport: Provide a copy of the pages in your passport that show your photo and signature.
2. Proof of your residence address: Show a document that confirms your current address.
3. Certificate of no criminal record: Obtain a certificate that states you have no criminal record.
4. Your updated CV: Prepare a detailed document that highlights your qualifications and work experience.
5. Original banker’s certificate: Obtain a certificate from your bank confirming your relationship with them for at least two years.
6. Original professional reference letter: Obtain a letter of recommendation from an accountant or lawyer who can vouch for your professional integrity.
7. Detailed information about the content: Provide information about the games or services you plan to offer. Include copies of agreements, RNG (Random Number Generator) testing certificates from third parties (if applicable), and RTP (Return to Player) information.
8. Proof of domain ownership: Show evidence that you own the domain name associated with your online gaming business.
9. Copies of the Terms and Conditions: Include copies of the terms and conditions that players will need to agree to when using your gaming platform. These terms and conditions should cover policies related to underage play, responsible play, and KYC (Know Your Customer) for players.
In addition, your company needs to provide the following documents:
- Certificate of incorporation
- Articles of incorporation
- List of major shareholders
Certified copy of a Board of Directors resolution authorizing directors, officers, or employees to conduct business on behalf of the company.
Make sure all the documents are in English and have a date no older than 90 days. If the original documents are not in English, you will need to provide notarized translations into English. Additional requirements might be requested during the application.
How to Establish your online betting or gambling company in Anjouan?
To apply, you need to fill out a form and provide certain documents to Anjouan Corporate Services Ltd and ABGB.
These documents include:
- The completed license application form.
- The official documents that show the structure and details of your company.
- A clear description of the gambling services you plan to offer.
- Documents that prove your trustworthiness and compliance with anti-money laundering rules.
- Your responsible gaming policy and fair play policy.
- Submit your application and pay the application fee.
- Wait for your application to be reviewed.
The authorities will carefully check your background and finances. This process usually takes between 1 to 3 months. If everything is in order, you will receive your license.
- Pay the license fee of $17,000.00 for each Game license (B2B and B2C).
Once you receive your license, you need to pay the license fee to finalize the process. After you have obtained your license and paid the fee, you can start your legal gambling activities in Anjouan.
Fulfilling License Requirements
To comply with the requirements of the Anjouan Gaming License, it is essential to adhere to the provisions outlined in the On-Line Gaming Act, 2005. This act serves to safeguard the interests of players, prevent illicit activities such as money laundering, and maintain the financial stability of gaming operations. Here are some key obligations that you need to consider as a licensee:
Adherence to the On-Line Gaming Act:
It is important to strictly follow the requirements set forth in the On-Line Gaming Act. This includes conducting your interactive gaming services responsibly and ensuring that your promotional activities do not harm Anjouan’s reputation or encourage underage gambling.
At-Risk Player Procedures:
Implement procedures to identify players who may be at risk of developing compulsive gambling habits. Provide them with relevant information and encourage them to seek counseling or assistance services when needed. It is important to prioritize the well-being of players and promote responsible gaming practices.
Financial Ratios and Reports:
As a licensee, you must maintain the financial ratios specified by the Gaming Board. These ratios ensure the financial stability of your gaming operation. You are required to submit reports to the Gaming Board at predetermined intervals and in the specified format. Cash transactions related to player accounts are not permitted to prevent potential misuse.
Anti-Money Laundering Measures:
Follow the procedures established by the Anjouan Gaming Board to prevent money laundering. Designate a money laundering reporting officer within your organization who will promptly report any suspicious transactions to the Gaming Board. By including robust anti-money laundering measures, you contribute to maintaining the integrity of the gaming industry.
Compliance and Reporting:
It is essential to regularly report any gaming compliance issues to the Gaming Board. This ensures transparency and accountability in your operations. Also, you must notify the Gaming Board within seven days of any changes in beneficial ownership or significant incidents that may impact your license. Timely communication is vital for maintaining regulatory compliance.
Information Updates:
Keep the Gaming Board informed of any significant changes that might affect the validity of your license. This includes updates regarding your business structure, ownership, or any other relevant information. Attend Gaming Board meetings as required to address specific purposes and ensure effective communication.
Obtaining an Anjouan Gaming License requires diligent adherence to the provisions outlined in the On-Line Gaming Act, 2005. When you fulfill the obligations discussed above, you can establish a gaming operation that prioritizes player protection, upholds financial stability, and complies with regulatory requirements.
Ongoing Maintenance Is Important
Once you have obtained your Anjouan Gaming License, ongoing maintenance is becomes part of process and important, which includes:
- Prepare and submit annual reports as required by the Gaming Board.
- Continuously meet compliance obligations to ensure the smooth operation of your online gaming business.
- Pay renewal fees promptly to avoid license suspension.
- Address other matters that require periodic attention, such as updating payment accounts, modifying business descriptions, or changing directors/shareholders.
Seeking Professional Assistance Is Required
Navigating the complexities of obtaining and maintaining an Anjouan Gaming License can be challenging. Consider seeking professional assistance from experienced service providers like Fabulous BV.
Let our experts guide you through the entire process, handle ongoing maintenance, and ensure compliance with regulations, allowing you to focus on growing your online gaming business.
Obtaining an Anjouan Gaming License is an accessible and affordable option for entrepreneurs entering the online gaming industry. With the advantages, fulfilling license requirements, and prioritizing ongoing maintenance, you can establish a compliant and successful online gaming business.
