The Anjouan Betting and Gaming Board

The island of Anjouan, also called Ndzouani, is in the Indian Ocean. It is part of a group of islands called Comoros (Islamic Federal Republic of Comoros).

Anjouan is currently an autonomous republic within the Union of the Comoros. Due to its independence, the country's government began to develop its own legislative system. Increased attention has been paid to the development of offshore activities. Efforts were aimed at attracting foreign companies, so this financial center has gained many advantages compared to other offshore centers.

Since 2005, new laws have been adopted regulating a dynamic approach to offshore business. They aim to maximize transaction security and combat illegal money laundering activities.

Including a gambling law that allows the registration of land-based and online casinos in the country.

It is allowed to:

• open gambling halls,
• accept betting, including via the Internet.

But you must obtain a gambling license.

The legislation in the gambling industry is unique in its way. Given that 98% of the population adheres to the Islamic religion, which explicitly forbids gambling, attracting investment in this form is more profitable. At present, Anjouan has a rather effective financial policy oriented to clients. Foreign experts in this field are also attracted, which can help to develop this sector even more.

Regulator licensed casinos

The Anjouan Betting and Gaming Board review

The actual licensing and regulation in Comoros, including Anjouan, is carried out by the Anjouan Offshore Finance Authority. However, a license can be obtained only by applying to Anjouan Corporate Services Ltd.

This organization is authorized by law to accept applications from companies for licensing in various areas, including land-based and online gambling.

Suppose you want to get an online gambling license in Anjouan, unlike other republics of the Comoros. It is necessary to have a mirror server on the state's territory. Financial flows must be managed through the Anjouan offshore banking system.

Anjouan Corporate Services Ltd requires the following steps to issue licenses:

• Payment required to start the due diligence procedure;
• Register the company in the republic's territory.
• Documentation for each company owner: copies of passports, notarized, proof of address and absence of criminal record, the company's articles of Association, and a bank account statement.
• The Anjouan Betting and Gaming Board

The Anjouan Betting and Gaming Board (ABGB) oversees the activities of the licensed company and is responsible for the safety, regulations, and control of gambling. This body is an additional Anjouan Offshore Financial Authority (AOFA) structure. Therefore, all companies that have received a gambling license must unconditionally follow the recommendations received by this regulator and follow further recommendations regarding financial management.

AOFA does not impose any restrictions on licensees regarding outsourcing third-party payment processes for gaming and betting services. Operators can process their profits through any bank.

The basic principles applied in evaluating a company for a gambling license, on which The Anjouan Betting and Gaming Board is based

• Morality;
• Financial capacity;
• Ethical conduct;

The ABGB only evaluates a company for fraud. For example, money laundering, etc.

For understanding, the Anjouan Betting and Gaming Board monitors online and land-based casinos regarding compliance with gambling laws. The Anjouan Offshore Financial Authority decides on the issuance of gambling licenses. Anjouan Corporate Services Ltd makes the application for a gambling license.

License types of The Anjouan Betting and Gaming Board

The Republic of Anjouan issues a gambling license that allows bookmaker bets, poker rooms, online casinos, and bingo lotteries remotely, i.e., on the Internet.

A single gambling license is actually issued. Thanks to it you will not only be able to open an online casino, but also to carry out any type of land-based gambling, including casinos.

To get a license, you need to fill out a special form. It can be downloaded from the Anjouan Corporate Services Ltd website. The company must be registered as an IBC (International Business Company). An IBC is not considered resident for tax purposes, and it can be set up in less than 24 hours. It is worth noting that such companies cannot own real estate in Anjouan.

The "Betting and Gambling Law" specifies the basic principles for issuing gambling licenses:

• Gambling and betting licenses are only issued to companies based in Anjouan. This means that the owners of the companies must be registered in the Republic but can manage and own other companies.
• There is no income tax, and no commission is required. Gaming licenses have an annual fixed fee that varies by type and includes all legal and administrative fees.

The cost of issuing a license averages $20,000. A similar amount will need to be paid to the regulator annually. The commission will need to pay $1,400 for administrative and other fees.

Dispute resolution

Conclusion

The gambling industry's regulation in Anjouan is in a very bad state. However, on the face of it, the opposite may certainly seem to be the case. There seems to be a regulator in the form of the Betting Council and the Offshore Authority. But the problem is much deeper. These organizations do not protect the player in any way, and there are no standards regarding gambling addicts.

Why does an application for a license have to be made virtually through a third-party organization? In this case, Anjouan Corporate Services Ltd is the organization in question. Moreover, the Casinoz team has examined the Anjouan Betting and Gaming Board's requirements for licensees.

To put it mildly, they give almost complete leeway to these companies. For example, it is stated that an online casino can advertise its services anywhere and in any manner, prohibiting underage gambling. No reputable regulator takes such liberties.

An analogous situation occurs in the financial component as well. Given these facts, Casinoz strongly discourages choosing online casinos with licenses from this regulator.