Anjouan’s International Brokerage and Asset Management License offers a practical pathway for forex firms seeking a regulated base in a cost‑efficient, offshore‑friendly jurisdiction within the Union of the Comoros. Supervised by the Anjouan Offshore Finance Authority (AOFA), the license can cover spot FX and margin trading, CFDs, commodities, stocks, asset management, and the issuance of financial instruments, under AML/CTF rules aligned with the Money Laundering Prevention Act (2005) and FATF guidance. Foreign IBCs benefit from 0% corporate income tax, strong confidentiality, and no statutory requirement for a local office or resident directors, while meeting fit‑and‑proper checks, paid‑in capital, and documented KYC/AML policies. With complete documentation, service providers cite indicative timeframes of about 3–6 weeks from submission. Always verify authorization in the AOFA register and keep risk, disclosure, and compliance frameworks current to maintain ongoing eligibility and market trust.
Why Anjouan is on every forex founder’s radar
If you’ve been building a brokerage, you’ve heard the whispers: “Anjouan is the place to get a forex license now.” The Autonomous Island of Anjouan in the Union of Comoros has quietly become a credible, cost‑effective alternative for startups and scale‑ups that outgrew pure “registration-only” structures but aren’t ready for the time and price tag of heavyweight jurisdictions. The proposition is simple: pragmatic regulation, fast timelines, and a regulator (the AOFA) that speaks the language of cross‑border brokerage.
Part of the draw is strategic. After regulatory tightening in places like Curacao, Vanuatu, and St. Vincent, founders needed a jurisdiction that still recognized modern brokerage models—multi‑asset platforms, white labels, liquidity aggregation, and even crypto‑adjacent products—without forcing early‑stage firms into enterprise‑level overhead. Anjouan fit the brief: structured, not suffocating. Add in a favorable tax profile, straightforward corporate setup, and global connectivity, and it’s easy to see why the island keeps showing up in board decks.
What the Anjouan International Brokerage and Asset Management License actually covers
Despite the shorthand “Anjouan forex license,” the formal framework is broader: the International Brokerage and Asset Management License. That matters. It’s not just currency pairs. With the right application scope and controls, licensees can operate a brokerage platform and provide asset management services to clients. Think leveraged FX, CFDs, commodities, indices, and, where approved, equities and derivatives. It can also accommodate ancillary activities closely tied to brokerage, such as margin lending to clients on your platform.
There’s another angle many founders miss: issuance. Within the permissions AOFA grants, licensed entities can be authorized to issue certain financial instruments (including derivatives) for OTC distribution to their clients, subject to clear disclosure and risk controls. Some firms also explore crypto‑linked derivatives under this umbrella—again, conditional on what the AOFA approves in your individual license and on how you manage jurisdictional marketing restrictions.
The regulator: how the AOFA thinks
The Anjouan Offshore Finance Authority (AOFA) is the supervisory body tasked with licensing and oversight. If you imagine the AOFA as a rubber stamp, you’re setting yourself up for a rough ride. The Authority expects to see a coherent business plan, responsible leverage policies, and real AML/CTF controls that meet international standards. It enforces local AML laws and aligns with FATF‑style expectations on risk assessment, PEP screening, sanctions, and suspicious transaction reporting.
At the same time, the AOFA is commercially minded. It understands modern brokerage stacks—liquidity bridges, B‑booking versus A‑booking, outsourced technology, and cross‑border client acquisition. The sweet spot is pragmatic supervision: not “light touch,” but proportional to the size and risk of the business. If your governance is serious, your onboarding is clean, and your disclosures are honest, you’ll find the process refreshingly navigable.
Core requirements to obtain the license in Anjouan
You’ll begin by incorporating an International Business Company (IBC) in Anjouan. Most structures are simple holding‑plus‑operating setups, but the AOFA does not require convoluted paperwork. You will need a registered address in Anjouan and a clear set of constitutional documents that match the activities you’re pursuing under the license.
Compliance is the spine of the application. Expect background checks on all principals—beneficial owners, directors, key officers. You’ll lodge complete AML/KYC policies, appoint a compliance officer or MLRO, and demonstrate that your onboarding flow (document collection, risk scoring, PEP/sanctions hits, ongoing monitoring) is real, not theatrical. Many applicants also include client terms, risk disclosures, conflicts of interest policies, and a leverage and margin policy that shows you understand suitability and liquidations.
The application path, timeline, and what really slows you down
Most projects follow a four‑phase path. First, form the company and prepare the compliance pack: corporate docs, org chart, resumes and clean police records for principals, proof of address, source‑of‑funds/source‑of‑wealth narratives, and a credible business plan with financials and risk text. Second, file the license application with the AOFA through a local service provider. Third, respond to clarifications. Fourth, receive approval and go‑live after paying fees.
Timelines frequently advertised are three to six weeks for licensing once the file is complete. That’s achievable, but only if you do the hard work upfront. The biggest delays come from incomplete UBO documentation, vague or recycled business plans, and AML policies that read like a template but don’t match your actual onboarding stack. If you’re using white‑label technology, also expect the AOFA to ask how you control client money, segregate funds, and supervise the partner.
Tax and substance: what investors often get wrong
Anjouan is often positioned as a tax‑friendly jurisdiction for foreign‑owned IBCs. That’s broadly true in marketing terms, but tax is never one‑dimensional. Local regimes can change, and your group’s effective tax rate will be driven by management and control, permanent establishment considerations, CFC rules at the shareholder level, and where your key people actually sit. Don’t rely on a single “no corporate tax” line to build your model.
Substance is similar. There may be no hard requirement for a resident director or a physical office to obtain the license in Anjouan, but counterparties will care. Banks, PSPs, and institutional LPs evaluate your governance depth, real decision‑making, and the presence of compliance expertise. A “brass‑plate” firm might pass licensing but fail onboarding with serious payment partners. If your plan involves card acquiring or fiat rails, assume you’ll need demonstrable substance somewhere in the group.
Banking, payments, and the technology stack realities
Every brokerage CEO wants the same holy trinity: stable bank accounts, reliable PSPs, and clean liquidity. With an Anjouan entity, you can secure multi‑currency accounts, but it takes preparation. Expect extra due diligence on your UBOs, geographies, and marketing funnel. Show that client funds are segregated, reconciled daily, and safeguarded under clear terms. If you touch crypto rails, separate them cleanly from fiat flows and document the risk mitigants.
On the technology side, regulators and payment partners will ask how your platform enforces leverage caps, margin calls, negative balance protection (if offered), and trade surveillance. If you run a hybrid book, explain your routing logic and conflicts management. If you’re fully A‑book, evidence your LP agreements and how you monitor best execution. Your tech narrative doesn’t need jargon; it needs to prove you’re in control.
Compliance that scales: the AML/KYC playbook for Anjouan licensees
A strong AML framework is not a box‑check; it’s a sales enabler. The AOFA expects a risk‑based approach with clear client categorization, enhanced due diligence for high‑risk profiles, and continuous monitoring that catches anomalies, not just onboarding red flags. If your client base is global, be explicit about restricted or enhanced‑risk countries and how your sanctions screening adapts to updates.
Practical wins include building straight‑through KYC with reputable vendors, configuring PEP/sanctions screening to reduce false positives, and logging every override with rationale. Train your front line to escalate early rather than push accounts through. And don’t forget marketing compliance. If you intend to advertise in a jurisdiction with strict rules (say, the UK or EU), either don’t target it or match the local retail investor protection standards. Your license in Anjouan doesn’t immunize you from foreign ad rules.
Marketing and cross‑border rules you cannot ignore
The fastest way to attract regulatory heat is through sloppy marketing. Be precise about who you target and where. Geoblock restricted countries; make risk warnings prominent; avoid total‑return claims; and do not dangle bonuses in markets where inducements are restricted. If you partner with affiliates, audit their creatives. You own their claims in the eyes of many regulators.
Client agreements and website legal packs still matter. Use plain language. Explain order execution, slippage, re‑quotes, fees, and margin calls. If you issue derivatives or structured products under your license, ensure your disclosures accurately describe the product risks. This isn’t just legal hygiene; it’s what PSPs and LPs look for when they decide whether to onboard you.
Cost planning and ongoing obligations
Budget beyond the application fee. You’ll have formation costs, license fees, policy drafting, and KYC vendor spend. Add ongoing items: license renewals, compliance officer compensation, audit or assurance work if requested, cybersecurity tools, and legal updates. Don’t forget market data and charting licenses if you’re not using an all‑in‑one platform.
Operationally, plan for recurring compliance cycles. That includes policy refreshes, sanctions list updates, staff training, and internal testing of your onboarding and surveillance. If your product set evolves—say you add new asset classes or change execution venues—update the AOFA where required and keep your documentation in sync. The firms that avoid headaches treat compliance as a product function, not a cost center.
How to verify a license and stay credible
Investors and partners will ask: “Are you actually licensed in Anjouan?” Always provide a direct link or reference to the AOFA’s public verification channel and your licensed name. Keep your website’s legal page tidy: company number, registered address, license category, and a current copy or reference of the license. If your brand differs from the legal entity name, connect the dots clearly.
Internally, maintain a single source of truth for your approvals: scope of permissions, any AOFA conditions, and renewal dates. If you change directors, UBOs, or your compliance officer, expect notifications. Treat AOFA engagement as a dialogue—timely, professional, and transparent.
A realistic timeline and document strategy
Speed comes from preparation. Before you file, assemble a clean data room. Include corporate docs, KYC sets for all principals, a business plan with three‑year forecasts, and technology, liquidity, and risk narratives that match your actual setup. Draft AML/KYC policies that tie to your vendors and workflows; copy‑paste templates are easy to spot and slow you down with avoidable queries.
Most straightforward projects can be filed within two weeks of kickoff and, once complete, see decisions inside a one to two‑month window. If you’re going for broader permissions—asset management in addition to brokerage, or issuance of certain instruments—build in time for clarifications. It’s faster to answer a tough question thoroughly once than to volley three half‑answers.
Common pitfalls I see in applications
Founders often underestimate governance. Add at least one director with real brokerage or risk experience. If you appoint an MLRO, empower them. The AOFA notices when the compliance officer is a figurehead. Another recurring issue is payment flow opacity: if you use multiple PSPs, document settlement, reconciliation, and refunds for each.
Finally, don’t overpromise on leverage and spreads at the expense of risk controls. If your retail offer is 1:1000, you’ll invite scrutiny. Show calibrated limits by client category, negative balance policies if offered, and clear liquidation logic. The firms that win trust balance commercial edge with responsible risk.
Where Anjouan fits in a multi‑jurisdiction strategy
Many groups use Anjouan as a launch pad: test product‑market fit, harden operations, and then layer additional licenses where the client base concentrates. That’s smart. Just keep your entity map clean. Use clear intercompany agreements for technology, IP, and liquidity. Align your tax and transfer pricing with where functions really sit. And as you add licenses in other countries, harmonize disclosures and marketing standards upward, not downward.
Done right, an Anjouan license can be the backbone of a global brokerage stack: regulated enough to unlock banking and PSPs, flexible enough to innovate, and cost‑effective enough to scale.
Quick answers to questions I get every week
Is a local office or resident director mandatory? In practice, the AOFA has not required heavy physical substance to grant a forex license in Anjouan, but banks and PSPs often expect meaningful governance and operational presence somewhere in your group. Build substance for the partners you need, not just the license.
Is the license recognized globally? Recognition is practical, not formal. Partners and clients increasingly accept Anjouan because the AOFA’s framework aligns with international AML/CTF norms and brokerage realities. Still, you must respect the rules of each market you target; licensing in Anjouan doesn’t authorize you to solicit where local licenses are required.
What about taxes? Anjouan is commonly marketed as tax‑friendly for foreign‑owned companies, but your effective tax depends on your group structure and home‑country rules. Get tax advice before you set pricing or dividend policy.
Can I add crypto‑related products? Some licensees operate crypto‑linked derivatives or accept crypto for deposits under tight policies. Whether you can do this under your license in Anjouan depends on your approved scope and how you manage risk, custody, and AML. Address this explicitly in your application and vendor stack.
How do I verify a firm’s authorization? Ask for the licensed legal name and check it against the AOFA’s verification channel. Make sure the permission category matches the services offered. If something feels off, it usually is—walk away.
| Topic | Details |
|---|---|
| Jurisdiction | Anjouan, an Autonomous Island in the Union of the Comoros, in the Indian Ocean. |
| Key regulator | Anjouan Offshore Finance Authority (AOFA). |
| Official license name | Anjouan International Brokerage and Asset Management License (often called the Anjouan forex license). |
| What the license covers | Running a forex/CFD brokerage; operating a trading platform; market-making or agency (A-book/B-book); margin and leverage; dealing in currencies, commodities, indices, equities CFDs; asset management/portfolio management; issuing and offering securities and derivatives (including crypto derivatives) OTC; lending/borrowing to support margin. Activities may require AOFA consent and clear disclosures. |
| What the license does not grant | It does not replace licenses required in restricted countries you target. It is not a passport to the EU, UK, US or other major onshore markets. It does not waive AML/CTF, sanctions screening, or consumer protection duties. |
| Legal framework | AOFA rules and licensing conditions; Comoros/Anjouan company law for IBCs; AML/CTF under the Money Laundering Prevention Act (Government Notice 008 of 2005) and related notices. |
| Company type required | Anjouan International Business Company (IBC). |
| Local presence | No statutory requirement for a local office or local directors/agents for the forex license. Many firms still keep a registered office and use local corporate services. |
| Share capital | Paid-up share capital is required. The amount is set by AOFA during assessment based on the business model and risks. State your proposed capital in the business plan. |
| Directors and owners | Fit-and-proper checks on all directors, shareholders, UBOs, and key persons. Clean criminal record, source of funds, relevant experience, and sound reputation are expected. |
| Mandatory roles | Compliance Officer/MLRO responsible for AML/KYC. Some applicants appoint additional risk and operations officers to strengthen governance. |
| Internal policies | AML/CFT policy, KYC and customer risk scoring, sanctions screening, transaction monitoring, PEP policy, complaints handling, conflicts of interest, best execution, order handling, client categorization, risk disclosure, leverage and margin policy, business continuity. |
| Technology and operations | Trading platform and bridge, order management, liquidity arrangements, secure hosting, data protection, website legal pack (Terms, Risk Disclosure, Privacy/Cookies, Complaints). Cloud or dedicated servers are acceptable if controls meet AOFA and AML standards. |
| Client money handling | Keep client funds separate from company money; maintain clear reconciliation; disclose margin and liquidation rules. AOFA may request proof of safeguarding arrangements. |
| Eligible clients | Global reach is possible, but you must not serve sanctioned persons or prohibited markets. AOFA does not publish a hard “banned countries” list; you must apply international sanctions and local marketing rules of target countries. |
| Taxation | Offshore IBCs commonly benefit from no corporate income tax in Anjouan on foreign-sourced income. Always confirm current rules and any economic substance or reporting that may apply to your structure. |
| Advantages in practice | Faster setup than many jurisdictions; straightforward AOFA process; cost-efficient maintenance; broad scope (forex, CFDs, asset management, OTC issuance, lending); high corporate confidentiality protections; no local office mandate. |
| Key constraints | Not a substitute for onshore licenses where required; banking/EMI onboarding can be challenging—prepare strong KYC/AML and business rationale; you must maintain real compliance and monitoring despite a light-touch framework. |
| Application steps | 1) Incorporate Anjouan IBC and secure registered address. 2) Prepare business plan with financials and risk controls. 3) Draft AML/CFT and compliance manuals; website legal pack. 4) Nominate Compliance Officer/MLRO. 5) Compile due diligence (IDs, proof of address, CVs, police clearances, bank/professional refs). 6) Submit license application via an approved service provider. 7) AOFA review, clarifications, and conditional approval. 8) Pay fees, finalize capital and operational readiness; receive license. |
| Typical timeline | From complete file to approval: about 3–6 weeks, depending on AOFA queries and your responsiveness. |
| Core documents checklist | Passports and proof of address (all controllers/UBOs); police clearance; CVs and experience letters; source-of-funds/source-of-wealth; corporate docs (IBC set); organizational chart; business plan and financial projections; AML/KYC/CTF policies; risk and compliance framework; IT/security overview; website legal documents; draft client agreements; evidence of capital and banking/EMI arrangements. |
| Fees | Government and AOFA fees apply at filing and annually; professional and advisory fees vary by scope. Exact amounts are issued on request and may change. |
| Ongoing obligations | Maintain books and records; keep AML/CFT and sanctions controls active; file required returns to AOFA; notify material changes (ownership, directors, key staff, products); renew license annually; keep policies and training up to date; cooperate with AOFA inspections. |
| AML and training | Implement risk-based AML/CFT controls aligned with GN 008 of 2005 and FATF standards; appoint MLRO; ensure periodic AML training (EU-based online courses are commonly used for teams). |
| Marketing and disclosures | Use clear risk warnings, margin/leverage disclosures, and T&Cs; avoid implying authorization in onshore markets where you lack a license; respect local promotion rules of each country you target. |
| Verification of firms | AOFA maintains authorization records. Always verify a broker’s license status with AOFA before onboarding or partnering. |
| Banking and payments | Secure at least one transactional account (bank or EMI) for operations and separate client money accounts. Prepare enhanced due diligence and a compliant payment flow map to support onboarding. |
| Change management | AOFA consent may be needed for ownership changes, new lines of business (e.g., crypto derivatives), or material outsourcing. Report promptly and document impacts in your risk assessment. |
| Common use cases | New forex/CFD brokers, firms migrating from St. Vincent or Vanuatu, asset management startups, OTC issuance desks, fintechs adding leveraged products. |
| Common pitfalls to avoid | Incomplete AML/KYC framework; weak business plan and financials; no MLRO; unclear client money segregation; marketing to restricted jurisdictions; underestimating banking/EMI onboarding lead times. |
| Go-live roadmap | License approval → finalize banking/EMI and client accounts → UAT of trading platform and liquidity → staff training and go-live readiness review → staged onboarding with enhanced monitoring in the first 90 days. |
| One-line summary | The Anjouan forex license offers a fast, flexible, and cost-effective path to operate a global brokerage and asset management business in Anjouan, provided you build real AML/CTF controls, responsible leverage policies, and clear client protections. |