Anjouan “Forex Licence”: fast on paper — but not a recognised financial licence
Many websites promote the Anjouan Forex/Brokerage licence as a quick way to launch an FX/CFD platform: register an International Business Company (IBC) on the island of Anjouan and obtain a certificate from the Anjouan Offshore Finance Authority (AOFA).
These timeframes are vendor marketing claims only. AOFA does not publish or guarantee any official service-level agreements, and such approvals are not recognised by the Comorian state.
Several AOFA-run websites publish island-level “acts” (e.g., “Offshore Finance Authority Act 2005”) and a public “register”. These texts are local instruments only — not Union-level laws — and do not create licences recognised by the Comorian state.
But the legal reality is publicly clear: an AOFA licence is not a valid financial licence in Comoros or internationally.
Publish Date
9 Oct 2025
Reading Time
10 minutes
Category
Legal Guides
Jurisdiction
Anjouan
The legal reality — only the Banque Centrale des Comores (BCC) can license financial services
Comoros is one sovereign state. Its constitution and banking law give the Banque Centrale des Comores (BCC) exclusive power to license and supervise banks and other financial institutions.
The BCC has published official communiqués — most recently in 2022–2023 — warning:
- “No island entity, including the so-called ‘Anjouan Offshore Finance Authority’, is authorised to issue or supervise banking or financial licences.”
These notices are available on the BCC website. The regulator advises businesses and banks not to rely on any “offshore approvals” issued at island level.
Anjouan’s attempt to run an offshore finance regime in the early 2000s was rolled back when the Union centralised supervision. AOFA can still register companies but cannot grant licences recognised by the Comorian state or by international financial institutions.
Why AOFA paperwork fails in practice
- Bank accounts and PSPs: compliance teams check BCC’s warnings. Applications with AOFA paperwork are typically rejected or pushed into enhanced due diligence.
- Reputation: investors and partners consider AOFA “offshore/unregulated”.
- No legal protection: no Union-level supervision or recourse if disputes arise.
As a result, onboarding with European or other international payment providers is often refused or escalated once AOFA documentation is identified as non-regulatory.
Banking risk and compliance databases
Banks and payment companies use third-party risk screening tools; because the BCC publicly states AOFA approvals are unauthorised, applications citing AOFA paperwork are often escalated or refused. Once flagged, onboarding either stops or requires proof of a national licence — which AOFA cannot provide.
FATF status — true but irrelevant to AOFA recognition
It’s correct that Comoros is not on the FATF “increased monitoring” (grey) list as of 13 June 2025.
But this only means the national AML/CFT regime improved; it does not make AOFA approvals valid or bankable.
AOFA vs recognised financial licences — side by side
| Feature | AOFA “Licence” | Recognised Regulator (e.g. CySEC, FSA, FSC) |
|---|---|---|
| Legal authority | Island only; not Union-recognised | National regulator with statutory powers |
| AML/KYC oversight | No enforceable supervision | Strong AML, STR reporting, fit & proper checks |
| Minimum capital | None — AOFA has no Union-level capital requirements | Determined by each recognised regulator under national/EU law |
| Reporting & audits | None at Union level | Annual returns, audits, compliance testing |
| Banking/PSP acceptance | Frequently rejected, flagged as high risk | Generally accepted with proper onboarding |
Realistic routes to a bankable forex broker licence
If you want a sustainable, bankable brokerage, consider regulators the market actually accepts:
- Cyprus (CySEC CIF) — EU standing and passporting rights.
- Malta (MFSA) — EU-regulated with full MiFID II passporting rights; stricter AML and capital requirements but strong reputation and solid banking access.
- Seychelles (FSA) — lower entry threshold, moderate recognition.
- Mauritius (FSC) — credible for cross-border brokers, stronger compliance bar.
- Labuan, Malaysia — flexible Asian hub.
- United Kingdom (FCA) / Australia (ASIC) — top tier, strict but globally respected.
Each requires AML/KYC frameworks, capital, governance and reporting — but gives you a licence that banks and PSPs recognise.
Contact us to compare jurisdictions and identify the most bankable licence for your brokerage goals.
If you already hold an AOFA “licence”
- Pause onboarding new clients and reassess compliance.
- Plan transition to a jurisdiction with a recognised regulator.
- Rebuild AML/KYC to match that regulator’s expectations.
- Stage your payments strategy — use EMIs or fintech PSPs temporarily until you have a true licence.
Key FAQs on Anjouan Forex Licence
Is an Anjouan (AOFA) “forex licence” legally valid?
No. Comoros is a single state. Only the Banque Centrale des Comores (BCC) can license financial institutions. AOFA certificates are not recognised as financial licences.
Can I use an AOFA licence in the EU, UK, or elsewhere?
No. Because it isn’t recognised in Comoros, it has no standing abroad. Banks and PSPs will not treat it as authorisation.
Does Comoros being off the FATF grey list help AOFA?
No. FATF status relates to the national AML regime. It does not convert AOFA paperwork into a valid licence.
Why do banks and PSPs reject AOFA documents?
Compliance teams rely on the BCC’s public warnings. AOFA paperwork triggers enhanced due diligence and is commonly declined.
Can I convert an AOFA licence into a recognised one?
No. You must apply fresh in a jurisdiction with a real regulator (e.g., CySEC, MFSA, FSC, FSA, FCA, ASIC).
What are realistic jurisdictions for a bankable brokerage?
EU options: Cyprus (CySEC), Malta (MFSA). International: Mauritius (FSC), Seychelles (FSA), Labuan (Malaysia). Top-tier: UK (FCA), Australia (ASIC).
Can Legasset help with both a new application and a ready-made purchase?
Yes. We shortlist viable jurisdictions, arrange ready-made options where suitable, prepare filings, and manage banking/workflows end-to-end.
Sources & further reading
- Banque Centrale des Comores (BCC) — official communiqué on illegal offshore banking and “Anjouan Offshore Finance Authority”
- Union of the Comoros Banking Law (Loi bancaire n°13-003/AU, 2013)
- Financial Action Task Force (FATF) — Comoros country listing
