About Anjouan Island
Anjouan is an island belonging to the Comoros, located in the Indian Ocean. As part of the Comoros, Anjouan has its own jurisdiction within the country, meaning the island operates under the laws and regulations established by the government of the Comoros.
Anjouan’s legal system is based on a combination of French civil law and Muslim law.
The island of Anjouan is attractive to entrepreneurs due to its natural beauty, potential in tourism and hospitality, ecological opportunities, and investment prospects in agriculture, construction, and real estate. The jurisdiction is also popular for establishing gambling businesses, which can be profitable due to the island’s tourist appeal, favorable tax conditions, lack of strict regulations, and minimal market competition.
Advantages of Registering a Company in Anjouan:
- 0% corporate tax rate for International Business Companies (IBCs).
- Short registration period for IBCs – 1 week.
- The jurisdiction is known for its stability and business-friendly climate for entrepreneurship.
- The island’s location in the Indian Ocean makes it a significant hub for maritime travel and trade, making import-export businesses popular here.
- Anjouan offers a high level of confidentiality and data protection for company owners, which is important for businesses valuing the privacy of their operations.
- There is no strict regulation of currency operations, facilitating the movement of funds and transactions with foreign currency.
- Business registration procedures on the island of Anjouan are simplified and less bureaucratic compared to many other island jurisdictions.
- The Comoros offers favorable tax regulations for so-called “International Business Companies,” i.e., companies not generating income from sources within the country.
- The Comorian government actively supports investments and provides various incentives and benefits for entrepreneurs. Key investment areas include construction, real estate, and alternative energy sources.
Types of Companies in Anjouan
International businesses may be most interested in the so-called “International Business Companies” (IBC). While domestic companies have a corporate income tax of 30%, the tax rate for IBCs is 0% on foreign income.
IBC Companies:
- Exempt from VAT on international transactions, as the standard VAT rate of 18% primarily applies to goods and services provided within Anjouan.
- Must appoint a local representative or registered agent authorized by the Anjouan Financial Offshore Authority to conduct such business.
- Cannot conduct business anywhere in Anjouan or with any Anjouan citizen.
- Cannot own real estate in Anjouan.
Legislative Requirements
IBC Registration in Anjouan:
- Capital: There are no minimum share capital requirements in Anjouan.
- Founders: A minimum of one founder is required. This can be an individual or a legal entity. Founders can be citizens of any country.
- Managing Director: Appointed by the founders or shareholders, the managing director is responsible for operational management and daily affairs of the company. There are no residency requirements.
- Reporting: There are no financial and tax reporting requirements for IBCs.
- Legal Address: To register a company, a legal address on the island of Anjouan must be provided. This can be the address of a rented office or the address of an agency providing registered office services.
- Licenses and Permits: Depending on the nature of the business, obtaining specific licenses or permits may be necessary to conduct certain activities.
Taxation
Corporate tax: IBCs have a 0% corporate tax rate on foreign income.
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Double Taxation Treaties
Anjouan is a small territory within the Comoros and the Southern African Customs Union (SACU), but it does not have the authority to independently conclude international treaties, including double taxation treaties. However, as part of SACU, which includes Botswana, Lesotho, Namibia, South Africa, and Eswatini, Anjouan can participate in the DTTs concluded by SACU on behalf of all its members.
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Features
In 2005, the Computer Gambling Licensing Act 007/2005 came into effect on Anjouan, a significant step in the development of the gambling industry on this territory. This law created the Betting and Gaming Commission (ABGB), granting it the right to issue gambling licenses. Since its introduction, Anjouan’s license has become available on the market and is an attractive option for entrepreneurs in the gambling industry.
The licensing process in Anjouan is known for its simplicity and transparency, making it an attractive choice for companies seeking a gambling license. Additionally, licensing fees in Anjouan are typically considered among the lowest in the industry, making this process more accessible to entrepreneurs.
It should also be noted that gambling and sports betting licenses can be issued not only to companies registered and based in Anjouan but also to companies registered in other countries. This expands opportunities for entrepreneurs looking to enter the gambling market in Anjouan, making this process even more attractive. Read more about the gaming license in Anjouan here.
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If you are interested in establishing a company on the island of Anjouan and would like to receive more detailed consultation on this matter, contact the lawyers at Campio Group.
Our experienced specialists can help you develop an optimal strategy and guide you through all the stages of establishing a company in Anjouan, including obtaining a gambling license if necessary. Contact us to learn more and start your business in Anjouan.
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