Comoros Crypto License: An Affordable and Profitable Solution for Your Business

Every business related to cryptocurrency has to obtain an appropriate license. And it’s not a formality in any way: having a permit ensures that the company has taken measures to safeguard customers’ crypto assets and is acting in full compliance with the currently existing laws. Yet, how do you find an affordable and reliable jurisdiction to obtain such a license? You may be surprised to hear that Comoros stands among the best options available for this.

Comoros is an island country located in the Indian Ocean. It is the only jurisdiction where a cryptocurrency license can be granted at an unarguably low price compared to other offers existing from other offshore destinations. Let’s see why foreign entrepreneurs select this jurisdiction, what makes a Comoros license so attractive and affordable, and what kind of advantages your business will get.

Advantages of Obtaining a Comoros Crypto License

Companies from across the globe show a lot of interest in obtaining a crypto license in Comoros. Let’s look at the reasons that make the jurisdiction so popular:

• Low financial threshold. The cost of obtaining a license and doing business in Comoros is much lower than in other jurisdictions. Foreign startup creators and small business owners are attracted by profitable entry fees, administrative payments, and tax liabilities.
• Quick and simple licensing. The process of obtaining commercial permits in Comoros is well-organized and does not take much time. Licensing takes less time and involves less red tape than other jurisdictions.
• Confidentiality and absence of currency control. Comoros brokers can freely move funds without additional currency restrictions, which considerably simplifies operational processes. A high degree of confidentiality ensures the safety of customer data and funds.
• Stable legal environment. Comoros offers a favorable regulatory environment, including strict compliance with international anti-money laundering standards and terrorism financing. This approach ensures transparency and trust among customers and partners of companies operating on the islands.

Cost of Obtaining a Crypto License in Comoros

Cost is an important factor when choosing a jurisdiction to obtain a crypto license. A Comoros crypto license can be acquired for EUR 39,750, a relatively moderate price.

Here are the factors that influence the cost:

• The country is striving to attract international business, so the government has created a simplified and flexible regulation system aimed at reducing bureaucratic costs.
• The cost of business, which includes the costs of office rent, labor remuneration, and other operational expenses, is much lower than in other jurisdictions.
• The process of obtaining a license in Comoros is simplified and requires less time, resulting in lower expenses on legal and administrative services.
• The regulators offer a transparent system of acquiring licenses without hidden levies or additional expenses, which makes their costs more affordable and predictable.
• The government actively supports and launches initiatives to develop international business by providing tax incentives and other stimuli for companies that obtain licenses.

Legal and Regulatory Requirements for Obtaining a Crypto License

The Anjouan Offshore Finance Authority (AOFA) regulates the process of obtaining a crypto license in Comoros. This is the only body that controls financial operations, including those related to cryptocurrencies.

Here is what you need to obtain a crypto license in Comoros:

1. Register a company.
2. Pay the license fee.
3. Prepare the CVs of directors and shareholders.
4. Provide a bank account extract and confirmation of the address of residence.
5. Sign an application for the license.

You have to set up financial guarantees in order to cover the risks. The minimum amount you must subscribe is EUR 250,000.

The license issuing period varies depending on document preparedness and the minimum time taken down is 25 days.

Quick licensing means that Comoros is interested in attracting crypto companies interested in starting operations as quickly as possible, with as little red tape as possible.

Practical Guidance for Risk Reduction

Successful licensing depends on compliance with the regulator’s rules, observance of legal standards, and truthful information about your company. Such an approach to the procedure will save one from delays and even refusal to grant a right to commercial presence in the jurisdiction. Our experts will help you find your bearings in the requirements and complexities of document execution, considerably simplifying the procedure.