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Introducing Comoros Gambling License
The Union of Comoros includes a miracle island called Anjouan, and this jurisdiction is an attractive one for many businesses wishing to operate officially. With low license fees, wide coverage of gambling verticals and a quick processing procedure, an Anjouan gambling license may be the best choice for you. By contacting the experts at Legasset, you will be able to buy a ready-made Comoros gambling license that will make it much easier and faster for you to enter the international iGaming market.
Publish Date
14 August 2024
Reading Time
9 minutes
Category
Legal Guides
Jurisdiction
Comoros
Things to Know About the Comoros Licensing Authorities
Established to stimulate economic growth by attracting foreign investment, Moheli Offshore Finance Authority (MOFA) has been issuing gambling licenses since 2001. Immediately focusing on licensing casino and sportsbook operators, it covers a multitude of iGaming areas including online casino, poker, bingo and sports betting. With licenses recognised in 30+ countries around the world, MOFA is an important player in the gambling market.
200+ online casinos and bookies operate under Comoros licenses issued by MOFA. This body pays special attention to privacy and data security, encouraging operators to protect their users’ interests. Today, MOFA is actively developing to meet international standards and strengthen its position in iGaming.
As for the Anjouan Offshore Financial Authority (AOFA), this body was established two years earlier to create a favourable financial environment on the island of Anjouan. It quickly established itself as a reliable gambling regulator granting licenses to operators of online casinos, poker rooms and sportsbooks. With 40+ countries recognising the AOFA gambling license and 300+ operators, it is a reputable regulator in the iGaming landscape.
Reasons Why Operators Choose Comoros Licenses
Given the presence of strong players such as the UKGC or MGA, opting for AOFA or MOFA may not be an obvious choice for many. However, there are some good reasons why you should consider Comoros licenses – check them out below:
- Ability to provide gambling services legally in almost 40 countries.
- Fast processing of applications and issuance of licenses.
- Flexible and less stringent requirements compared to other jurisdictions.
- Low tax rates are attractive for operators wishing to minimise costs.
- Cover multiple iGaming verticals including casino, poker, bingo and sports betting.
- Low operating costs.
- High level of protection of users’ personal and financial data.
The professionals at Legasset offer a comprehensive service designed to remove any obstacles to registering as an operator.
Contact Legasset to familiarise yourself with all the details of licensing and receive comprehensive support at every stage.
Do you need help to get a Comoros license?
Advantages of Holding MOFA and AOFA Licenses
If you are still contemplating whether or not to obtain Comoros licenses for your gambling business, the points below will help dispel your doubts:
Doesn't require a large investment.
Many aspiring online entrepreneurs look first at the cost of a license and subsequent expenses as they don't have a large budget. Although MOFA or AOFA are not the most popular gambling jurisdictions, with low processing costs and fixed annual fees, these licenses are perfect for small gaming companies and start-ups. Legasset's experts will provide you with all the details regarding the types of licenses and their costs upon request.
Favourable tax rates.
One of the most attractive things about Comoros licenses is that there is no need to pay taxes on gross gaming revenue. This in turn allows operators to increase profitability and focus on further development of the iGaming platform due to the low tax burden.
Additional benefits.
Operators of online casinos and sportsbooks licensed in Comoros can use (for an additional fee) an almost unlimited number of URLs. In addition, they get freedom in financial transactions due to the possibility of opening accounts in other countries and accepting crypto payments.
Simple and fast registration.
You will need only 1-1.5 months to fulfil all the requirements of the regulator to start operating your gambling business legally. However, the approval process can be significantly delayed if mistakes are made in the preparation of documents and at other stages of the application process. Legasset makes the licensing process as simple as possible with minimal red tape.
Developed infrastructure.
Both Anjouana and Moheli are currently experiencing significant growth in iGaming. The local government is investing heavily in telecom infrastructure including cloud services, private server racks, hosting and dedicated server services and much more. AOFA and MOFA are also paying serious attention to the security of sensitive data, encouraging the development of regulatory frameworks and security systems.
How to Buy a Ready-made AOFA or MOFA License
Although Comoros regulators have made it much easier to apply for gambling licenses, going through the registration process on your own can be a daunting task. Instead, you can order a Comoros license from Legasset law firm. This service includes document preparation, support at every step and much more so that you can focus on other important aspects of your iGaming business.
Preparation of the Document Package
To apply for a license, you need to register on the regulator’s website and provide documents about your company. The list of documents required may differ between AOFA and MOFA. Contact Legasset’s experts and tell them about the specifics of your business to determine the right regulator, license and the required application package.
Whether you choose AOFA or MOFA, you need to prepare the following:
- Company registration documents for Moheli. It is noteworthy that AOFA does not require your company to be registered in Anjouan, which can be a decisive factor for you when choosing a regulator.
- A detailed business plan including the essence and idea of the business, development prospects, financial forecasts and information about the key persona, i.e., the profile of your ideal client.
- Evidence of software solutions and infrastructure. You must have proof of ownership of a domain name as well as an iGaming platform meeting the standards set by the regulators of Comoros.
- Original bank certificate of bank accounts and proof of sufficient funds to pay for services and winnings in full.
- Detailed information about the game content used on the iGaming platform including certificates of independent auditors verifying RTP and RNG.
- Full terms and conditions as well as privacy policy with provisions regarding underage gaming policy, responsible gaming rules, KYC registration and verification conditions for new users, and anti-money laundering provisions.
- Financial policy regarding supported payment methods, allowable timeframes for financial transactions, commissions, security of users' payment data, etc.
Application Process Details
Many operators choose Comoros as a jurisdiction with a much simpler process for obtaining a gambling license. However, there are many bureaucratic complexities involved making the application process slower and more complicated. Below are the main steps you need to follow to obtain an AOFA or MOFA license:
- Register your company in Moheli. To be eligible for a MOFA license, you must register on Moheli as a legal entity. Legasset's experts can help you choose the best legal form to minimise the time and cost for your business in the future. By choosing Anjouan, you do not have to register your company on this island.
- Open a corporate bank account. Legasset experts will help you choose a reliable banking organisation to ensure the safety of your funds. Keep in mind that when applying, you need to provide a statement of account with any reliable bank that has been open for at least 2 years. You must have enough funds in your account to obtain a license.
- Compiling documents for the application. With Comoros regulators requiring a large list of documents, preparing an application package can be a daunting task. By contacting Legasset's experts, you will receive comprehensive assistance in drafting your business plan, T&Cs, security policy, financial policy and other things as required by the Comoros regulators.
- Bringing your business into compliance with regulatory requirements. You need to scrutinise the regulator's requirements for software solutions, gaming content, data security and privacy policies, platform advertising and more to ensure you are fully compliant.
- Obtaining a license and doing business. Comoros licenses are valid for 1 year from the date of issue, with the possibility of renewal. Regulators will monitor your activities to ensure that you continue to meet their requirements. Legasset experts offer not only ready-made gambling licenses but also assistance and support in running your business to avoid any issues that could lead to suspension or revocation of your license.
Advantages of Buying a Ready-made License from Legasset
Legasset will walk with you all the way from preparing and submitting your application to obtaining your license – check the benefits:
Purchasing a ready-made Comoros license from Legasset significantly reduces the time required for registration and application. So, you get the opportunity to start your gambling business almost immediately.
You get not only a ready-made license but also legal support so that you can navigate through the requirements and regulations of the Comoros authorities.
Legasset experts take care of all tasks related to business plan development, document collection and other tasks so that you can avoid potential problems and delays and concentrate on developing your iGaming business.
Challenges of Obtaining a Comoros Gambling License
Practice shows that despite the apparent simplicity of obtaining a SOFA or MOFA license, some companies encounter certain problems, which lead to significant delays or even denial of issuance:
Incomplete understanding of the requirements.
If you are not familiar with Moheli or Anjouan law, you risk having your license application rejected because your business does not meet the regulations and requirements.
Language barrier.
French and Comorian are the main languages on the islands. If you do not know these languages, you may have potential problems with legal documents and communication.
Inability to meet financial requirements.
Not knowing the regulators’ policy on bank accounts and the minimum required amounts held in them will result in your license being refused.
Bureaucratic red tape.
Self-submission of an application requires preparation of a large list of documents, which can significantly delay the process.
Difficulties with inspections.
To maintain your license, you will need to undergo regular audits to ensure that you are complying with local legislation.
