The Computer Gambling Act of 1999 and amendments on the Betting and Gaming Act 2005, provides the legal framework for the provision of the Gaming Services in Comoros.
As per the Act, Betting and Gaming means computer internet gaming, horse or greyhound betting and sports book betting Casino, lottery and bingo on line gaming.
The entity making the application should be an International Business Company (IBC) in Comoros
The licensee will need at least 1 (One) natural person Fit and Proper Directors of any jurisdiction.
• The investment dealer will need at least one shareholder.
• Corporate shareholding is allowed and 100% foreign ownership is permitted.
The Licensee must establish and maintain an appropriate and effective compliance function within the firm which operates independently of all operational and business line functions and senior or supervisory management.
Not required
The Licensee, to establish an internal Audit department.
The applicant must have indemnity insurance coverage or a fidelity bond acceptable to the Anjouan Offshore Finance Authority.
The Applicant must have the prescribed minimum paid-up capital and is able to meet the prescribed minimum net liquid capital requirement in cash or readily marketable securities. The prescribed minimum paid-up capital is € 46,850 (Approximately USD 51,535)