Banking License in Anjouan: The Easiest Way to Launch Your Own Bank
Anjouan is the second-largest island within the Comoros Islands. Recently, the jurisdiction has gained popularity for opening and expanding financial businesses due to its favorable tax policies, liberal legislation, and financial regulation. All offshore companies are exempt from taxes in Anjouan. The licensing of banking activities falls under the jurisdiction of the Central Bank.
Main advantages of a banking license
A license to provide financial services in this promising jurisdiction offers attractive conditions for conducting banking business:
- fast processing times – about 3-4 weeks;
- the jurisdiction is not on the EU and FATF blacklists, so there will be no problems with international transactions;
- no requirements for directors/shareholders and AML manager;
- no requirement to have a local office;
- standard AML/KYC documents are submitted for obtaining the license;
- the license is issued for 1 year, but it is possible to pay for a term of up to several years in advance.
To open an offshore bank, a share capital of at least $1 million is required. The applicant must also arrange a bank guarantee in the amount of $100,000 in favor of the Central Bank or transfer these funds to a special client account with the Registrar of Companies of Anjouan as a guaranteed deposit. It will be returned six months after the expiration of the offshore license.
The offshore banking license of Anjouan provides non-residents with the opportunity to offer various banking services, including:
- acceptance of monetary deposits;
- lending and borrowing of funds;
- currency exchange operations;
- issuance of securities and credit cards;
- safe custody, purchase, and sale of securities;
- opening accounts for legal entities and individuals;
- nominee shareholder services;
- electronic payments and transfers.
How to obtain a banking license?
To obtain a banking license in Anjouan, it is necessary to prepare a package of documents:
- detailed business plan;
- resumes of directors, shareholders, and other participants, certified copies of passports, criminal records;
- proof of residential address of participants;
- original bank references for all participants.
For fast bank formation, contact the specialists at IT-OFFSHORE, who have extensive experience in obtaining banking licenses in Anjouan.
