The licence arrives and most operators celebrate. Then, within a few days, the reality sets in. There are reports to file, policies to maintain, a renewal to think about, and a regulator who expects to hear from you on a schedule you may not have fully read.
The honest answer is that neither licence is universally better. They serve different operators at different stages with different risk profiles and different budgets. What I will do in this article is lay out the actual differences as they stand in 2026.
Most guides to the Anjouan gaming licence start at the licence application form. They skip over the fact that you cannot submit that application without a company that already exists. The Anjouan IBC must be incorporated first.
You have the platform. You have the games, the payment processor, the brand. You sit down to look at the licence application and realise it is forty pages long, references four pieces of legislation you have never heard of, and expects a Board-approved AML policy within thirty days.
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