Crypto license in Comoros

The Comoros is a union of three independent islands: Moheli, Anjouan, and Grande Comore, each with its own constitution, leader (president or governor), and legislative body as outlined in the Comorian constitution. Among these, we will focus on the “Anjouan crypto license” due to its more favorable conditions. Obtaining this license is swift, and its cost is reasonable. Holders of the Anjouan crypto license can operate within legal frameworks, ensuring compliance with regulations for their activities.

Advantages Of Anjouan Crypto License

• Establishing Banking Partnerships: Possessing a license facilitates establishing mutually advantageous relationships with financial institutions. Given the high-risk nature of the cryptocurrency sector, banks are often hesitant to engage. However, holding a crypto exchange license enhances the enterprise’s credibility in digital asset transactions.
• Ensuring Crypto Exchange Reliability: The regulatory body issuing licenses conducts comprehensive preliminary assessments of applicants. Obtaining a crypto license bolsters business legitimacy by signifying the successful completion of rigorous scrutiny.
• Tax Advantages: Anjouan is renowned for its tax-friendly regime, characterized by the absence of income tax, withholding tax, or company tax. This favorable tax environment is particularly advantageous for crypto companies.

Is a license necessary?

Each business engaged in crypto-related activity must have a relevant license. This guarantees that the crypto company protects its customers’ crypto assets and complies with applicable laws. Obtaining a crypto license in Comoros is a simple and reliable way of carrying out legal activities connected with cryptocurrencies. You need a license if you are:

• A startup in the blockchain tech industry;
• A cryptocurrency exchange platform;
• A trading platform;
• A blockchain project;

Regulating authority

In Anjouan, the Anjouan Offshore Finance Authority (AOFA) is the only body that regulates the local financial sector, including cryptocurrency businesses. Compared to Moheli, Anjouan is a more reputable offshore financial center. Anjouan Corporate Services Ltd is the only agent in Comoros recognized and duly authorized by the Anjouan Offshore Finance Authority to market all Anjouan offshore companies and licenses. Offshore licensing solutions in Anjouan Comoros are available for various industries, including banking, forex, crypto, and insurance.

General requirements to obtain a Cryptoexchange  License in Comoros 

• Company incorporation. There are no requirements for the company to be local.
• After start-up costs for an IBC formation, the price is only 300 USD per year.
• You will need to pay 5000 EUR for a license.
• CV of all directors/shareholders;
• Certificates of police clearance of applicants and directors;
• Bank and business references;
• Identification of the shareholders;
• Business plan;
• A signed application for the issue of the Crypto Company License;

How long is the licensing process?

It depends on various factors, such as document preparation compliance checks. But generally, we can establish a company and obtain a license for 1-2  months.

Why You Should Consult SBSB Fintech Lawyers For Obtaining Crypto License in Comoros 

If you need a crypto license in Comoros (Anjouan), contact the lawyers at SBSB Fintech Lawyers. We have specialized in supporting FinTech and Crypto projects since 2013, providing tailored solutions for each client, considering the company’s business model. We 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 the Comoros(Anjouan) in accordance with the legislation, ensuring comprehensive legal support.