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While starting a gaming business, you must keep in mind certain crucial factors such as finalizing a budget, looking for an iGaming software provider, obtaining a gaming license and much more. Obtaining a gaming license is one of the main factors while you commence your gaming business and you must wisely choose the right gaming license. The Anjouan Gaming License is one of the popular online gaming licenses and it is a great choice for startups and small businesses who are venturing into the iGaming world.
Here in this article, we’ve provided a comprehensive guide on how to acquire this license for your gambling business. Keep reading to know more.
Here in this article, we’ve provided a comprehensive guide on how to acquire this license for your gambling business. Keep reading to know more.
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Why Do You Need An Online Gambling License?
Stay On The Right Side Of The Law:
The license ensures that the business is legal and compliant with the laws of the jurisdiction in which it operates. In order to do business in different geo-locations under different jurisdictions, online gambling businesses must obtain the relevant gambling licenses, or face severe penalties or permanent ban.
Establish Trust And Credibility:
Licenses enhance the credibility of the business and generate trust in the minds of the players as being legal and legitimate, ensuring reliability.
Player Protection:
Businesses with valid gaming licenses are more trustworthy, safeguarding players from online threats, ensuring fair play, and encouraging responsible gambling behavior.
Access To Financial Services:
Reputable banking and financial services, payment gateways, and channels only work with legal and valid businesses. Hence, in order to offer players trustworthy and popular payment options, acquiring a valid casino gaming license or sports betting license is a must.
Partnering With Other Businesses:
Licenses are also required to collaborate with other businesses such as game developers, investors, affiliates, etc. Established and reputed businesses will not associate themselves with illegal activities.
Business Insurance Acquisition:
Even to obtain business insurance, you need to properly register your business and acquire proper gambling licenses.
Anjouan Gaming License: A Brief Overview
Anjouan is an island under the Union of Comoros, located in the Indian Ocean under the continent of Africa. It was a colony of France until 1975 when it declared independence. The Anjouan economy is originally based on agriculture and a limited amount of tourism.
Seeking an economic boost, Anjouan started leveraging the global iGaming rage and established its game licensing framework in the early 2000s. It is different from other major iGaming license providers in a variety of ways. For example, it takes comparatively less time to obtain the license and is also significantly more affordable than others. Moreover, it follows less stringent regulatory measures allowing more flexibility to businesses.
If you are planning for Anjouan gaming license buy, you should keep yourself updated about the process of obtaining an Anjouan gaming license, Anjouan license cost or gaming license Anjouan price and much more.
Seeking an economic boost, Anjouan started leveraging the global iGaming rage and established its game licensing framework in the early 2000s. It is different from other major iGaming license providers in a variety of ways. For example, it takes comparatively less time to obtain the license and is also significantly more affordable than others. Moreover, it follows less stringent regulatory measures allowing more flexibility to businesses.
If you are planning for Anjouan gaming license buy, you should keep yourself updated about the process of obtaining an Anjouan gaming license, Anjouan license cost or gaming license Anjouan price and much more.
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Gaming Businesses Covered Under The Anjouan Gaming License
The iGaming and online gambling activities allowed under the Anjouan Gaming License are:
- Online Casino
- Sports betting
- Poker
- Bingo
- Lottery
- Fantasy sports
- eSports betting
Countries Covered Under The Anjouan Gaming License
186 countries are covered under the Anjouan Gaming License. The only restricted countries under the Anjouan Gaming
License are:
- United States
- United Kingdom
- Netherlands
- France
- Spain
- Austria
- Germany
- Australia
- Comoros Island
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Advantages And Disadvantages Of Anjouan Gaming License
Before deciding to obtain the Anjouan Gaming License for your gaming business, you should be aware of the pros and cons of this gaming license. Here’s a list:
Advantages Of Anjouan Gaming License
Covers Various iGaming Businesses
The one-license-covers-all model of Anjouan Gaming License is a great feature for startups and small iGaming businesses since they don’t need to acquire multiple gambling licenses for multiple activities. Thus, it saves a lot of time and resources for the businesses.
Fast And Affordable
The processing is comparatively faster for Anjouan Gaming License acquisition when compared to others.
Zero Gaming Tax
The best part is, that the Anjouan Gaming Authority doesn’t levy gaming taxes for businesses. It only charges the annual renewal fee as a recurring cost, and that’s it!
Great Geographical Coverage
The Anjouan Gaming License covers the whole world except a few countries in Europe, the USA, and Australia. When you compare it to the other popular casino gaming licenses that cover a single country/continent or so, you can realize how great a deal this is!
Flexible Regulatory Framework
The Anjouan Gaming License follows a less stringent regulatory framework that works in favor of the businesses, as they can be more flexible with their offerings and operations.
Better Compliance Support
When facing difficulties or challenges, the Anjouan Gaming Authority provides extensive support and guidance to the applicants in order to make the process smoother.
Disadvantages Of Anjouan Gaming License
Covers Various iGaming Businesses
Being newly established, the Anjouan Gaming License is yet to achieve the reputation and prestige that we associate other well-known gaming license providers with, such as the MGA or the UKGC.
Market Restrictions
With the Anjouan Gaming License, you cannot operate in countries including the USA, the UK, Netherlands, France, Spain, Austria, Germany, Australia, and Comoros Island.
Regulatory Issues
Since the Anjouan Gaming License follows less stringent measures in regulations, it can sometimes cause unforeseen problems in certain jurisdictions, which might also lead to money laundering and other kinds of online threats.
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Prerequisite For Obtaining An Anjouan Gaming License
You must create an Anjouan gaming license checklist for obtaining the license. Here are some of the Anjouan gaming license requirements that you need to fulfill before you can move forward with the application procedure:
Setting Up A Company In Anjouan:
In order to obtain an Anjouan Gaming License, a business must set up a physical office in Anjouan and register it under the Anjouan jurisdiction.
A Complete Business Plan:
The business should have a comprehensive business plan detailing the business type, scope of operations, target market, financial details, marketing plans, and everything else.
Strong Financial Backing:
The company or business should also provide sufficient proof of having enough financial resources to support the business plan.
Technical And Security Measures:
The business should also have access to an advanced tech stack and follow stringent safety measures to secure its online platform with SSL and other advanced technologies. It should also establish fair play measures, data protection, anti-money laundering measures, and protection for online financial transactions.
A Step By Step Guide To Obtaining An Anjouan Gaming License
Here’s a step-by-step guide to applying for and obtaining an Anjouan Gaming License for your online gambling business:
Register Your Company Under Anjouan Jurisdiction
As the first step, you need to register a company, most commonly, a Limited Liability Company (LLP) under Anjouan jurisdiction. You’ll need documents like proof of registered physical office in Anjouan, a list of directors and shareholders, company by-laws, etc. in order to complete the office setup process and pay a registration fee.
Apply With All The Necessary Supporting Documents
Next, you’ll need to complete the detailed application process with all the necessary documents required. The documents
include:
- License application form
- Official documents establishing the structure and details of your company
- Description of the gambling services that you’re planning to offer
- Documents proving compliance with regulations and anti-money-laundering rules
- Responsible gaming policy and fair play gaming policy that you intend to follow
- Proof of identity and background documents for every key person in the company
Submit The Application And Pay The Application Fee
Once all the paperwork is ready, you can go ahead and submit the application form with all the supporting documents as mentioned above, and also deposit an initial application fee.
Undergo Due Diligence And Background Checks
After the successful application submission, the Anjouan Gaming License authority will start processing your application. This includes several steps and takes a few weeks to be completed. At the initial stage, the authority will run background checks on all key personnel involved and verify their identity, assess the detailed business plan, ensure the financial stability of the company, and conduct due diligence on the company. You might require to submit additional details or paperwork at this stage as and when required.
Application Review
After submitting all the necessary paperwork and other details, your application will move to the next step where it will be thoroughly reviewed by the authority. This step can take several weeks. If any issues arrive, or additional clarifications are called for, you need to address those issues as quickly as possible.
Receive The License
Once you pass all the due diligence tests and the authority is satisfied with your company background and business plan, your license will be issued and you’ll be legally allowed to operate under the Anjouan jurisdiction.
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Renewing Anjouan Gaming License
You need to renew your Anjouan Gaming License annually. The renewal process involves ongoing adherence to all regulatory requirements, updating the KYC and AML documents, submitting the annual financial and operational reports, and submitting renewal fees on time. The authority will review your business operations every year before accepting your renewal request. Hence, maintaining a high standard of regulatory compliance and standard business practice is a must.
iGaming License: Other Options Available In The Market
Before we delve deeper into the pros and cons of the Anjouan Gaming License, let’s take a quick look into the other options at hand. Below is a list of the most popular and prestigious iGaming licenses available in the market today.
Malta Gaming Authority (MGA)
It is one of the most reputable iGaming licenses globally, with strict regulations and high standards. It allows access to most of the European countries and a few outside Europe. It is costly and takes around 12-18 months to obtain the license.
United Kingdom Gambling Commission (UKGC)
It is similar to that of the MGA license in terms of reputation and stringent regulations. The primary market for this license is the UK. UKGC is expensive and takes around 8-12 months to obtain this license.
Kahnawake Gaming Commission
Well-known and decently reputed, access areas include North America and a few international markets. Price is comparatively lower than MGA or UKGC, and it takes around 5-7 months to obtain the license.
Curacao eGaming
It is widely recognized and allows access to a broad international market, although it is less prestigious than MGA or UKGC. The regulations are less stringent and the processing time is 6-8 months because of the recent changes in regulations.
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GammaStack: Offers Guidance for Obtaining an Anjouan Gaming License
Obtaining an Anjouan Gaming License requires careful planning and execution, and in order to successfully acquire this license, seeking guidance from a professional is recommended. GammaStack can guide you to successfully acquire this license. With years of experience in the industry, we can assist you to acquire different gaming licenses such as Curacao gaming license, casino gaming license, Kahnawake gaming license, Malta gaming license, etc.
FAQs
The best way to obtain an Anjouan Gaming License quickly and without any hassle is by taking guidance from an industry expert like GammaStack. Experts from GammaStack will provide you with all the necessary information and will guide you about all the necessary documents.
Curacao gaming license, Malta gaming license, Kahnawake gaming license and Anjouan gaming license and some of the popular gaming licenses.
Yes, the team of GammaStack can assist you in acquiring a Kahnawake gaming license.
Major perks of acquiring an Anjouan gaming license include cost effectiveness and convenience.
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