Comoros Licensed Casinos

Introduction to Comoros Gambling Law and Regulation

Comoros is a country that lies on the African continent. It is an independent state. There are three islands on the Indian Ocean by the eastern coast of the continent. The fourth island called Mayotte is administered by the French authorities. These islands are volcanic by origin. They form the Comorian archipelago.

They are also called perfumed islands. That is mainly because of the fragrant vegetation and scenic beauty that you find here. The four islands of this region are like four small stones wedged between the Mozambican coast and Madagascar. The country has Arabic, Malagasy, and French influences besides being an African country. If we trace its history we find that it used to lie in the trade route between Asian ports and east Africa.

If we look at the economy of the country, it is one of the poorest among developing nations. It has witnessed an exodus of skilled and educated workers, mainly to France. As a result, its gross domestic product has declined much. The capital city is Moroni which lies on Grande Comore island.

Here you will find all the modern manufacturing and commercial facilities. However, most islanders practice subsistence farming. The country is known for its beautiful beaches as well. However, due to political unrest, tourism is yet to develop here. The country gained independence in the year 1975. This was possible with financial aid from France and the European Union. Other countries that provide financial aid are Kuwait, Japan, and Saudi Arabia.

History of Gambling in Comoros

If we trace the history of gambling in the country it goes back to 1977. At this time it was the Union of Comoros, a former French-occupied territory. It is a Muslim nation that has three official languages, Arabic, French, and Comorian.

The total population here is 277K. though it is a Muslim nation, President Ali Soilih legalized gambling as early as 1977. The country gained independence in the year 1975. With gambling in vogue in the country since the seventies, online gambling was also introduced here much earlier. It was in 1999 when online gambling became legal here.

Today gambling laws are guided by the Betting and Gaming Act of the country. This forms the main guiding structure for the Comoros Gambling License Authority. It is also one of the few Muslim countries to allow gambling legally. Currently, there are about three land-based casinos on these islands. However, in the eighties, there were about four casinos in total.

The country also accounted for 10% of total gambling activity in the continent. It generated gambling revenue second largest in number, after South Africa. This was contrary to the fact that most of the country’s population was below the poverty line. Also, the country was not a hotspot for tourism.

Incentive for Licensees

There is much to know about the laws that govern the Comoros Gambling License Authority. The authorities provide licenses for five years. Also, nonresidents of the country can gamble online at their licensed sites. Those who are residents of Comoros or below 18 years of age cannot open accounts on Comoros licensed sites.

The Betting and Gaming Act that was published in 2005 put Anjouan Corporate Services in charge. This company took on the responsibility to hand out licenses in the industry. It also deals with other regulatory and compliance matters.

The licensing regime of Comoros Gambling License Authority attracts several licensees for several factors such as:

• A progressive legislative setup.
• Good telecommunications network.
• Well-established financial system.
• Political stability.

As a result of the above factors, many companies consider taking on licenses from the Comoros Gambling License Authority. The licensees allow them to run casino games, bingo, poker as well as sports betting activities.

Also, there is no sales tax or VAT applicable in this region. Once a licensee gets a license there is no extra gambling tax levied. Licensees can get their profits through different Anjouan banks which have several locations abroad. Though the country started as an unstable country, today it has more political stability.

Also, companies can take advantage of good telecommunication and financial services here. All of this helps create an attractive environment for companies to invest in. Also, the Comoros Gambling License Authority has global recognition. Hence, international gambling companies will gain their license from it.

Benefits for the Operators

The global industry of online casinos became accessible to Comoros in 2005. This was also the time when the Offshore Finance authority act was passed in Anjouan. This is the principal region that is the hub of all legalized gambling activity. The act allowed the Anjouan government to support and grant licenses to several online casinos through Comoros Gambling License Authority.

This also includes several betting companies online. There are also brick-and-mortar casino establishments here. These include Itsandra Beach Hotel which is located in Moroni. This is the principal city here, located on the main island called Grande Comore.

Infrastructure here includes several services for online gaming industry operators. This includes provision for casino software providers as well. Companies can easily access private racks of high capacity. They can also access dedicated servers of custom-made. There are several hosting solutions and services. All this helps Comoros be a preferred location for online gambling companies. They can set up a base here for their operations as well as obtain a license for the same.

Gambling Regulations

Licenses are issued by Comoros Gambling License Authority. Anjouan Corporate Services is the office that issues all kinds of licenses. This includes online gaming, finance, brokerage, banking, and insurance. When gambling companies apply, they need to know the following laws:

• National anti-money laundering regulations.
• Counter-terrorism financing laws.
• Unusual transactions act.
• Know your customer policies.

The above laws all apply to companies who seek gambling licenses. Anjouan corporate services monitor all gaming businesses. They ensure that they follow all regulations and standards as per the government norms.

The Comoros Gambling License Authority conducts audits regularly. They check whether all license terms are met. Also, licensees are required to maintain an audit trail for every player. records should showcase all deposits of customers and financial transactions.

This should include individual bets as well. gaming systems are audited as well. Hence, system logs and backend software are checked. To do this the Comoros Gambling License Authority appoints third-party auditors.

How to Start a Gambling Business?

When one wishes to set up a gambling enterprise in this country, there are two important aspects to consider first. These include license acquisition and company registration. The Comoros Gambling License Authority provides excellent opportunities to help such businesses be profitable.

Licensing process includes a fixed fee that Anjouan Corporate Services charge. This is a yearly fee. No matter how small or big a setup, all corporations need to pay the same fee. However, they do qualify for a tax exemption as well.

This is an exemption from income tax. Also, there is no sales tax or VAT that is applicable. Hence, all that companies need to do is to pay a fixed fee every year. Also, they can set up accounts at Anjouan banks. This will help them run their profits and gain access to them in different international locations.

Online casino groups with a Comoros License:

• Slotman Entertainment S.A. Casinos