The gaming-assiduousness is actively developing and every year there are more and more legal entities that would like to work in this niche. Therefore, more and more online-casinos and betting-services appear. When corporation representatives consider the prospect of starting to work in this market, they need to decide on the place of registration of the legal entity and the location for acquiring a due.
Many applicants for work in this area are trying to get a Comoros gaming-license. This is quite logical because this region provides one of the most favorable options for such permits.
Why it is necessary to get a Comoros gaming-license
Of course, this market is considered a kind of gray zone all over the world. Therefore, many gambling and betting services operate without licenses. However, users who plan to register on such resources need to provide guarantees that they will work with a reliable resource. One of the most obvious indicators of the safety of the enterprise is the presence of a license from well-known regulatory-authorities. For players, the licenses of Curacao or Malta are often on the ear, but many new services aspire to obtain gaming license in the Comoros Islands. Here, there are more flexible rules and more possibilities to operate and the local-authorities are already passing laws that will permit more cops to operate with their permission.
In the upsurge, the region has introduced a rather loyal and client-oriented policy about financial transactions. Also, the authorities are trying to attract foreign experts who can help to properly organize legislative processes and point out the shortcomings of the local regulator.
Benefits of the Comoros-license
First of all, applicant`s for licensing should know that in Comoros it is conceivable to issue only a single permission for such business. Therefore, licensed companies can not only accept bets, but also open poker rooms, and online-casinos and conduct live lotteries.
In addition, corporations that have this permission can get certain advantages over their competitors. For example:
- the permission is cheaper than in other regions;
- the islands have many instruments for financial transactions, which can then be provided to registered users;
- this permission will allow one to work in the countryside where there is no regulator in the gambling-industry;
- minimal requirements for the start-up capital of applicants;
- low taxes;
- virtually no legal restrictions;
- quick registration of legal entities.
As you can see, for companies wishing to work in gambling, acquiring this permission should be interesting and profitable.
Prerequisites for licensees
Licenses are issued by the Offshore Finance Authority. This regulator has its requirements for gaming license in Comoros, and applicant`s must meet them. In particular, only those legal entities that are registered as a global commercial corporations will be able to obtain such a document. At the same time, they can not own real estate in the region. In addition, the company must work with local-banks.
After completing the registration, applicants can submit a package of docs for the license. They must include:
- enrollment docs of the legal entity;
- data on the co-founders of the corporation (passport copy, proof of residency address, etc.);
- a credential of the absence of a criminal record of the co-founders;
- a document confirming ownership of the domain;
- a written business plan for several years;
- documents confirming that the company will follow all procedures to prevent cheaters from entering the resource or underage players, as well as the rules of fair and responsible play;
- terms of enrollment for new users;
- a document confirming that the RNG certification has been passed;
- copies of agreements with game-creators and providers.
Once these docs are submitted, the application will be reviewed and a decision will be made within a few months. The applicant`s will either be approved or denied a privilege, or additional documents will be requested.
Who can help with the application-process in Comoros
Since these islands have a small specificity and each region may request different documentation packages, the most correct approach is to contact experienced professionals who have repeatedly cooperated with local regulatory authorities. In our company, you will find such partners. Each of our employees is an experienced professional. All of them have been in contact with the regulatory-authorities of the islands more than once and are ready to help with any of your questions. During the first consultation, we will study your apps and help to correct all the deficiencies until the moment when it will be at the representatives of the regulator. Consequently, while your competitors are correcting their mistakes, you will receive your license and will be able to enter the market faster and get more registered users.
