Nikolai Timofejev
15 years in FinTech and payments. Maps your business model to the right licence scope and leads the file all the way to the honest answer, including banking and payment rails.
The truth about the Anjouan gaming licence.
The fastest-selling 'gaming licence' of the decade, reviewed as a lawyer would: an island-registry certificate from Anjouan - issued in days, renewed annually, marketed to thousands of casinos - while the Union's central bank warns publicly against unauthorised claims of Comorian financial status. Here is what the paper does, where its limits run, and what Curaçao's rebuilt regime or Kahnawake buys at a comparable budget.
27 yrs
on the international marketon the market
60+
in-house specialistsspecialists
400+
Licenses obtainedlicenses obtained
Updated
Anjouan in brief
The certificate the industry actually bought.
As Curaçao rebuilt its regime and prices rose across the offshore tier, the market's overflow went somewhere, and much of it went to Anjouan. The island registry's 'eGaming licence' became the volume seller of budget iGaming paper: application by email, issuance in days, a price in the low thousands, annual renewal, and thousands of casino and betting brands now carrying the seal. The legal reality deserves equal clarity: Anjouan is an autonomous island of the Union of the Comoros, whose monetary authority - the Banque Centrale des Comores - states publicly that only institutions it authorises may conduct financial activity under a Comorian licence, and warns against entities claiming Comorian status without it. The registry's certificate is a real document; central-bank authorisation it is not.
The practical consequences define its legitimate use: mainstream banking and tier-one PSP acceptance is limited - the Anjouan ecosystem runs crypto-first in practice - game-studio and platform acceptance varies by provider, and ring-fenced markets are out of reach as with every offshore flag. For some crypto-native projects at minimal budgets, the certificate functions as an entry step taken with open eyes; for most operators, Curaçao's rebuilt direct licence (two eight-week phases), Kahnawake (US$35,000 in) or Antigua's heritage regime buy real supervision at budgets closer than the resellers admit. Our service is the written review before you pay anyone - what the offer is, what your markets require, which build actually banks, and the migration path when a project outgrows the paper.
The frank review: the Anjouan 'gaming licence' is an island-registry certificate - days-fast, low-cost, thousands sold, not a BCC authorisation, with no supervision behind it and crypto-first rails in practice. The BCC warns against unauthorised Comorian claims.
Real routes price nearby: Kahnawake US$35k in, Curaçao 2×8 weeks, Antigua's audited original. Written comparison before you pay anyone.
The two conversations
The certificate as it is - and the builds instead.
We document the registry product as it is, then design the alternative that fits your budget and banks. Both in writing, before you spend.
The certificate as it is, and the licensed builds at your budget.
01 - THE ANJOUAN CERTIFICATE, AS IT IS
What the paper is
An island-registry eGaming certificate: real as a document, fast and cheap by design, not a central-bank authorisation, with limited fiat rails and an ecosystem that runs crypto-first. Reviewed offer by offer, in writing.
An island-registry eGaming certificate: real as a document, fast and cheap by design, not a central-bank authorisation, with limited fiat rails and an ecosystem that runs crypto-first. Reviewed offer by offer, in writing.
- ✓Registry issuance - days, low cost
- ✓Annual renewal economics
- ✓Not a BCC authorisation
- ✓Limited fiat banking and PSPs
- ✓Crypto-first in practice
- ✓Written review before you pay anyone
02 - THE REAL ALTERNATIVES
Closer than the brochures admitWhat we build instead
Curaçao's rebuilt direct licence in two eight-week phases, Kahnawake at US$35,000 including the first year, Antigua's audited heritage regime. Real supervision, real rails, budgets in the same conversation.
Curaçao CGA (2×8 weeks), Kahnawake (US$35k incl. year one), Antigua (audited heritage). Real supervision, fiat rails, one programme.
- ✓Curaçao CGA - 2 × 8-week phases
- ✓Kahnawake - US$35,000 incl. year one
- ✓Antigua - the audited original
- ✓Fiat banking and PSP reach
- ✓Ecosystem acceptance by default
- ✓One programme, both ends
Costs and timelines are confirmed for your case before any work begins. Including the written comparison of the certificate against the licensed routes at your actual budget.
Why read this first
Six facts under the price tag.
Everything below is checkable. Start with the central bank's own communiqués and the regulators' fee schedules.
✓
The issuer is a registry
Anjouan's gaming certificates come from an island registry operation, not from the Union's central bank, which alone authorises financial institutions under Comorian law.Not the central bank.
✓
The BCC warns publicly
The Banque Centrale des Comores cautions against entities claiming Comorian financial status without its authorisation. Dated, signed, on its own site.Publicly, in writing.
✓
Volume is the model
Thousands of brands, days-fast issuance, renewal annuities. Excellent seller economics that say nothing about supervision, because there is none behind the paper.Seller economics.
✓
Rails define the product
Fiat banking and tier-one PSP acceptance is limited; the working ecosystem is crypto-first. For some projects that is fine. It should be a choice, not a surprise.Crypto-first, limited fiat.
✓
Real routes price nearby
Kahnawake enters at US$35,000 all-in for year one; Curaçao's direct licence runs two eight-week phases. The gap to real supervision is smaller than the reseller pitch implies.US$35k enters Kahnawake.
✓
Legitimate uses exist
Crypto-native, minimal-budget projects sometimes start here with open eyes. We will say if yours is one, in writing, and map the migration before you need it.Named in writing, with exits.
How it compares
Anjouan against the routes that bank.
The comparison every buyer should see before paying, not after the first PSP declines.
Anjouan vs licensed routes
| Feature |  Anjouan certificate | Licensed routes |
|---|---|---|
| Issuer | Island registry | State / sovereign regulators |
| Supervision | None behind the paper | Conditions, audits, reviews |
| Rails | Crypto-first, limited fiat | Fiat banking and PSPs |
| Speed | Days | Weeks to months |
Issuer
Anjouan certificateIsland registry
Licensed routesState / sovereign regulators
Supervision
Anjouan certificateNone behind the paper
Licensed routesConditions, audits, reviews
Rails
Anjouan certificateCrypto-first, limited fiat
Licensed routesFiat banking and PSPs
Speed
Anjouan certificateDays
Licensed routesWeeks to months
Route by route
| Route | Status | Speed | What it buys |
|---|---|---|---|
| Anjouan | Registry certificate | Days | Paper + crypto rails |
 Curaçao | CGA direct licence | 2 × 8 weeks | The rebuilt volume flag |
 Kahnawake | KGC authorization | 3-6 months | Sovereign, US$35k in |
 Antigua | FSRC interactive licences | 3-6 months | The audited original |
AnjouanStatusRegistry certificate
SpeedDays
What it buysPaper + crypto rails
CuraçaoStatusCGA direct licence
Speed2 × 8 weeks
What it buysThe rebuilt volume flag
KahnawakeStatusKGC authorization
Speed3-6 months
What it buysSovereign, US$35k in
AntiguaStatusFSRC interactive licences
Speed3-6 months
What it buysThe audited original
Before you decide
The buyer's protocol for Anjouan offers.The buyer's protocol.
Ten questions that cost nothing and save quarters. Put each to your seller - in writing.
01
Name the issuing authority and its statute. Then read the BCC's published position beside it.
02
Request the list of fiat banks currently opening accounts against the certificate. Names, not assurances.
03
Request the list of PSPs that onboard holders, and which tiers; the acquiring answer decides the business case.
04
Ask which game studios and platforms accept the seal. Acceptance varies by provider and matters daily.
05
Ask what supervision applies. Conditions, audits, reviews, and who performs them.
06
Ask what renewal tests. If the answer is 'payment', that is the answer.
07
Map your players' jurisdictions - no certificate from anywhere covers ring-fenced markets.
08
Price the real alternatives at your budget. Kahnawake US$35,000 in, Curaçao's phased direct licence.
09
If crypto-first rails fit your model, decide that consciously, and plan the fiat migration date now.
10
Get an independent written opinion before paying. Ours takes days and costs nothing.
01
Issuer + statute, checked.
02
Fiat bank list - in writing.
03
PSP list and tiers.
04
Game-stack acceptance.
05
Supervision - who, what?
06
Renewal. Test or invoice?
07
Player markets mapped.
08
Alternatives priced.
09
Crypto-first. Chosen, not defaulted.
10
Independent opinion first.
We answer all ten in a written opinion before you commit to anything. Including to us.All ten answered in writing before you commit.
How it works
From the offer to solid ground.
01
The offer on the table
The Anjouan quote. Seller, document, price, promises. Goes under the microscope first.Under the microscope.
02
The written opinion
Issuer, BCC standing, rails reality, market exposure. Documented in plain language.Plain-language facts.
03
The decision
A conscious crypto-first start, or the licensed alternative. Chosen with facts, not brochures.Conscious, not defaulted.
04
The build
Whichever route: entity, licence, rails and compliance sequenced as one programme.One programme.
05
Growth without surprises
The migration path mapped in advance, so scale finds a structure ready for it.Migration pre-mapped.
Quick facts
IssuerIsland registry
ProducteGaming certificate
IssuanceDays
BCC standingNot authorised by BCC
SupervisionNone behind it
RailsCrypto-first, limited fiat
Real alternativesCW · KGC · AG
Our deliverableWritten opinion first
The certificate is cheapest at purchase and most expensive at the first declined PSP. The review costs nothing and comes first.
On the ground in the Comoros
Run from our Mutsamudu office.
Prifinance - Anjouan
Mutsamudu · Anjouan
Mutsamudu, Anjouan, Comoros
01
The frank review
Any Anjouan offer analysed against the BCC's position, rails reality and your market map. In writing, in days.Days, in writing.
02
Local clarity
What the island registry issues and what Union law authorises. Documented from the ground, not from reseller sites.Registry vs Union law.
03
The real build
Curaçao, Kahnawake or Antigua structured at your actual budget. Both ends, one programme.At your actual budget.
04
Migration off the certificate
Projects that started on Anjouan paper moved to licensed flags without losing the book. Planned before the rails force it.Book intact, planned early.
We also have offices in
Tallinn
Estonia
Roseni 13
Vilnius
Lithuania
Gedimino pr. 2
Prague
Czech Republic
Vlkova 532/8, Žižkov
Dubai
UAE
33 Level, Al Saqr Business Tower
London
United Kingdom
7 Bell Yard
Madeira
Portugal
Rua da Alegria 31, 1F
Istanbul
Turkey
Perpa Ticaret Merkezi, A Blok
Good to know
The fiscal side, in numbers.
Paper has fees; structures have tax questions. Only one of them matters.
Certificate fees
Issuance and renewal. Modest amounts that buy modest standing; the fiscal story of the paper ends there.Modest, and final.
No licence economics
There is no supervised regime, so there are no licence-driven tax structures. The certificate carries no fiscal architecture.Nothing supervised.
The group decides
Where gaming profits are booked, taxed and distributed is set by the working entities. The licensed core and holding, wherever you build them.Working entities rule.
Crypto rails, real obligations
Crypto-first operations still create tax and AML obligations where the operators and owners live. Planned, not discovered.Obligations follow owners.
Rails drive everything
A structure without banking has no tax questions worth asking. The certificate's rails reality is its fiscal reality.The fiscal reality.
Alternatives with real answers
Curaçao (22% planned), Kahnawake (fees, no gaming tax), Antigua (IGIWR fees). Documented regimes, not improvisations.CW · KGC · AG.
Fiscal summary
Certificate costsIssuance + renewal
Licence economicsNone - no supervision
Planning levelGroup + owner
Deciding factorRails reality
Documented alternativesCW · KGC · AG
*As of 2026. Every outcome is modelled per structure, case by case.
Turnkey professional support
Experienced lawyers and international consultants.
We provide end-to-end support, from company registration and the application file to regulatory interaction and compliance oversight - with an individualized approach to each client.
Oleksii Kindratenko
Builds the application itself: structure, AML/KYC policy pack, capital structure and tax registrations. His document sets are the reason reviews finish in months, not years.
Eugeniu Bevziuc
First point of contact for international founders. Runs the whole setup remotely, across time zones and languages - from the first call to a working, bankable operation.
Follow Prifinance
Active across our channels.
Anjouan · the frank review
Get the truth about the Anjouan offer before you pay.
A written review of the certificate on your table - issuer, standing, rails, and the licensed alternative designed beside it at your budget. From our Mutsamudu office.
Get a consultation →Free legal opinion
Is the Anjouan route real for your project?
Our legal team will analyze your case at no cost and provide a written legal opinion: which jurisdiction, licence scope, or route fits your business.
Written assessment within 2-5 business days
Request a free conclusion →FAQ
The Anjouan gaming licence - what clients ask.
What is the Anjouan gaming licence?+
An island-registry eGaming certificate issued by Anjouan's registry in days at low cost - the volume seller of budget iGaming paper. A real document; not an authorisation of the Central Bank of the Comoros.
Why did it become so popular?+
Timing and price: as Curaçao rebuilt and repriced, the market's overflow needed somewhere cheap and fast. Thousands of brands took the certificate - popularity that says everything about demand and nothing about supervision.
Is it recognised by the Union of the Comoros?+
The BCC's public position is that only institutions it authorises may conduct financial activity under a Comorian licence, with warnings against unauthorised claims of Comorian status. Draw the conclusion the sentence draws.
Will banks and PSPs accept it?+
Fiat acceptance is limited - the working Anjouan ecosystem is crypto-first, with a narrow set of processors serving it. Ask any seller for named banks and PSP tiers in writing; the response is the business case.
Do game providers accept Anjouan-licensed casinos?+
It varies by studio and aggregator - some supply the ecosystem, tier-one providers largely do not. We check your intended game stack against acceptance before you commit, not after integration fails.
Is holding one illegal?+
Holding paper is not an offence. The exposure is operational: serving ring-fenced markets without their licences, and presenting a registry certificate as state authorisation where diligence asks.
Is there a legitimate use for it?+
Sometimes: crypto-native projects at minimal budgets occasionally start here with open eyes and a migration plan. Where that fits your model we will say so in writing - with the limits and the exit mapped.
What do the real alternatives cost?+
Closer than the pitch implies: Kahnawake enters at US$35,000 including the first year; Curaçao's direct licence runs two eight-week phases with schedule-based fees; Antigua prices its audited heritage regime per the IGIWR. We compare all three against your budget.
I already run on Anjouan paper. What now?+
We review what you hold, check your game stack and rails exposure, and plan the migration to a licensed flag without losing the book - before growth or a PSP decision forces it.
Why Prifinance for the Anjouan question?+
Because we profit from working operations, not paper: 400+ real licences obtained, the frank review delivered first, and the licensed build - Curaçao, Kahnawake, Antigua - executed when you choose it.
What is it?+
A registry certificate, days-fast.
Why popular?+
Curaçao's repricing overflow.
Recognised?+
Not by the BCC - it warns.
Banks/PSPs?+
Limited - crypto-first.
Game studios?+
Varies - checked first.
Illegal?+
Paper no; operating maybe.
Legitimate use?+
Sometimes - with exits mapped.
Alternatives?+
KGC US$35k; CW 2×8 weeks.
Already on it?+
We migrate you.
Why you?+
Operations, not paper.
Client notes
Google4.7★★★★★
Founders who wanted it done right.
Google4.7★★★★★
“As a software development crew at FewMoreTaps OÜ, we've had the pleasure of working with Prifinance on some key financial moves.First of all, navigating the world of corporate banking and finance can be a maze, but Prifinance made it feel like a walk in the park. They helped us set up a corporate bank account without the hassle of jumping on a plane or drowning in paperwork. Everything was done remotely, smoothly…”
Google
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Google
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Google
“I'm thrilled with my experience with PriFinance! They helped me obtain a crypto license in Estonia without any hassle. The team was super understanding and always available to answer my questions and assist. It was great to see how they put effort into preparing the documents to ensure everything went smoothly. I'm delighted with the outcome and highly recommend PriFinance to anyone looking to get a license…”
Google
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Google
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Google
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Get a free legal opinion on your project - our legal team will analyze your case at no cost and provide a written legal opinion: which jurisdiction, licence scope, or route fits your business.Free legal opinion: what the Anjouan offer on your table actually is.
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Prifinance is an independent law and advisory firm. We are not a regulator and are not affiliated with, endorsed by, or acting on behalf of the Banque Centrale des Comores (BCC) or any other public authority. Authorisations are granted by, and obtained directly from, the competent authorities.