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Gambling License in Vanuatu

Gambling License in Vanuatu

The progressive Pacific nation of Vanuatu attracts gambling operators with its stable, well-regulated regulatory environment and the prospect of further scaling globally. Gambling Vanuatu is experiencing exponential growth due to updated requirements. Fast Offshore Licenses will solve any difficulties associated with the processing of permits for gambling activities.

The small island nation of Vanuatu, with a population of just over 200,000, is actively developing its foreign policy and is a member of the UN, Commonwealth of Nations, Caribbean and Pacific Rim countries, and has joined the International Bank and the International Monetary Fund. The state has also signed one treaty on avoiding double taxation with Sweden and 13 treaties on exchanging tax information.

This jurisdiction was one of the first to issue licenses in the 1990s. Since 2003, Vanuatu has allowed online gaming licenses.

Asia Pacific Totalisators Ltd received the first license to offer sports betting.

To optimize time, the Vanuatu Gaming Authority (VGA) was established to process online applications, while the Department of Customs and Inland Revenue regulates gambling (DCIR). The Vanuatu Financial Services Commission (VFSC) monitors the entire financial system of the Republic.

Vanuatu is a member of the International Association of Gambling Regulators (IAGR). This obliges the controlling government agencies to be strict about compliance checks when obtaining a Gaming License in Vanuatu and to monitor the following:

Ensuring transparency in gaming.
Compliance with all safety regulations in the operation of the gaming platform.
Protection of users’ assets.

The Vanuatu Interactive Gambling License (VIGL) is recognized throughout the world and allows you to offer services in the B2C sector, such as online casinos, betting, and card games. In the future, the licensing process may expand for B2B.

Vanuatu is the best option for gambling startups looking for a jurisdiction with a good reputation and a favorable tax system.

Advantages of obtaining a Vanuatu Gambling License

Vanuatu Gambling License provides operators with:

Authorization from a reputable Regulator. To obtain a license, several criteria must be met to ensure player safety, fairness, and transparency of the game.
Reduced tax rates. There is no corporate tax, income tax, or VAT.
Fast growing market. There are 877 online casinos available in Vanuatu.VIGL is mainly chosen by those operators who are focused on the Australian market.
Online application process. To streamline the application process, the government has allowed operators to submit applications and documents online without being present in person.
License validity period. The license is issued for 15 years. Bonuses include the ability to conduct settlements in cryptocurrencies.

Request more info about a Gambling License in Vanuatu

Process of obtaining a Gambling License in Vanuatu

Obtaining a Vanuatu iGaming License takes several steps:

Formation of documentation.

The documentation set includes the following information:

Ultimate Beneficiary Information (UBO).
Proof of the company’s source of funds (statements, report).
A business plan that describes the marketing activities and gaming products the company will provide.
Proof of the right to use the domain name.
AML/KYC compliance measures.
Documents – passport copies, proof of residence of the manager.
Articles of incorporation.
Minimum authorized capital – $7000.

Payment of license fees.

The fee for the online application to the Regulator is €5000, the fee for the additional domain name – URL €5000, and payment of the fee for a year – is €10000.

Online Application.

The application form is completed online on a specially designed website – VGA Limited. Personal presence on the island is not required.

Approval of the permit.

The Regulator has between 2-4 weeks to assess and issue the permit.

Requirements for getting a Vanuatu Gaming License

Vanuatu gambling license requirements:

Registered legal entity.
Local director and auditor.
Minimum initial capital of 10 million Vatu ($7000).
All registration certificates, company certificates, and final owner information.
Financial statements with proof of the company’s source of money and financial stability.
Payment of all fees.
Two domain names.
Description of measures to comply with AML/CFT regulations.
Have the technical capabilities to ensure the safety of users when using the gaming platform.

Vanuatu Regulations on Gambling

To obtain a Vanuatu license, a gambling operator applies to the Vanuatu Gaming Authority (VGA), which operates under:

The Department of Customs and Inland Revenue regulates the gambling industry. DCIR is responsible for enforcing all clauses of these laws, and VGA administers them.

Types of Vanuatu Gaming Licenses

Vanuatu Interactive Gambling License (VIGL) is focused on the B2C sector and includes all types of online games like casinos, cards, and sports betting. In addition, when the license is issued, the operator is given the right to work with two URLs, the connection of each new domain is possible for an additional fee.

Renewal of the license takes place after 15 years. Companies are allowed to accept payments in both fiat currencies and crypto coins.

Gambling consultant in Vanuatu

Consultant

Eugen Fomin

Phone +6531596549
Email e.fomin@fastoffshorelicenses.com
Position
Paralegal, Consultant

Taxation rules for Gambling Companies in Vanuatu

The following tax levies are imposed on businesses involved in gambling:

Lotteries – 10%.
Activity tax of 1% of gross gaming revenue (GGR).
No corporation tax, VAT.

Registration fee of €5000, license fee of €10,000 each year, and additional URL domain name fee of €5000.

FAQ about Vanuatu Gaming License

How can I get a gambling license in Vanuatu?

The Vanuatu Gambling Authority (VGA) is in the process of reviewing online applications from gambling operators. However, you must collect documents and pay all government fees before you can apply.

How long does it take to get a gambling license in Vanuatu?

The regulator may assess the submitted documents for compliance with all requirements for a period of up to one month.

What’s the cost of a gaming license in Vanuatu?

Vanuatu has a fixed application fee of €5000, with gambling operators paying €10,000 each year. If a company wishes to have multiple domains, an additional fee of €5,000 will be charged.

Are there challenges in getting a gambling license in Vanuatu?

Vanuatu authorities require compliance with all international standards for AML/CFT procedures, the provision of Ultimate Beneficiary Information (UBO), and proof of the technical security of the site.

What is the tax on gambling in Vanuatu?

Special tax legislation has been developed for gambling operators. Companies involved in gambling do not pay corporate tax, VAT, only 1% of gross gaming revenue (GGR), and annual permit renewal fees.