COMOROS BECOMES A HAVEN FOR CRYPTO COMPANIES: ANJOUAN OFFERS FAVORABLE CONDITIONS FOR BLOCKCHAIN BUSINESSES
The Union of Comoros, an archipelago off the coast of East Africa, has emerged as a promising destination for crypto companies. Among its three islands, Anjouan stands out as a more favorable location for blockchain businesses due to its swift and reasonable licensing process.
ANJOUAN’S CRYPTO LICENSE: A PATHWAY TO LEGALITY
Obtaining an Anjouan crypto license is a straightforward process that allows holders to operate within the island’s regulatory framework. This ensures compliance with laws and regulations, mitigating the risk of legal issues. The license facilitates the establishment of partnerships with financial institutions, which are often hesitant to engage with high-risk cryptocurrency companies.
KEY ADVANTAGES OF ANJOUAN’S CRYPTO LICENSE
- Establishing banking partnerships: Holding a crypto exchange license enhances credibility in digital asset transactions.
- Ensuring crypto exchange reliability: The regulatory body conducts comprehensive assessments of applicants, bolstering business legitimacy.
- Tax advantages: Anjouan’s tax-friendly regime offers a favorable environment for crypto companies.
IS A LICENSE NECESSARY?
Yes, each business engaged in crypto-related activities must have a relevant license. This guarantees the protection of customers’ crypto assets and compliance with applicable laws. Obtaining an Anjouan crypto license is a reliable way to carry out legal activities connected with cryptocurrencies.
REQUIREMENTS FOR OBTAINING A CRYPTO EXCHANGE LICENSE IN COMOROS
Company Requirements
- No requirements for local companies.
- Start-up costs: 300 USD per year.
- License price: 5000 EUR.
General Requirements
- CV of all directors/shareholders
- Certificates of police clearance of applicants and directors
- Bank and business references
- Identification of the shareholders
- Business plan
- Signed application for the issue of the Crypto Company License
LICENSING PROCESS TIMELINE
The licensing process typically takes 1-2 months, depending on document preparation compliance checks.
CHOOSING THE RIGHT LAWYERS FOR OBTAINING A CRYPTO LICENSE IN COMOROS
SBSB Fintech Lawyers offers specialized support for FinTech and Crypto projects since 2013. They provide tailored solutions for each client, considering the company’s business model. Their lawyers will help you choose the most suitable type of license and prepare the necessary documents for legalizing the crypto business and obtaining a crypto license in Comoros (Anjouan) in accordance with the legislation.