Vanuatu, an idyllic island nation known for its offshore financial services, has recently solidified its reputation as a hub for online gambling by introducing a new, comprehensive licensing framework in July 2024. Building on its existing financial services, the Vanuatu Gaming Authority (VGA) has launched a streamlined process for online casino, sports betting, bingo, lottery, and poker operators. This initiative marks a significant modernization of the nation’s iGaming sector, aiming to attract global operators targeting pre-regulated markets.
The VGA’s new framework offers a robust yet flexible licensing structure, tailored to meet the needs of modern iGaming businesses. The licensing package includes a competitive highly cost-effective solution and a 1% Wagering Activity Tax on Gross Gaming Revenue. Licenses are granted for 15 years and include two domains as standard. The introduction of a iGaming-friendly legal environment further underscores Vanuatu’s commitment to maintaining its relevance in the global market.
In addition to the regulatory framework, the process for obtaining a Vanuatu license requires the incorporation of a local company, securing a Tax Identification Number (TIN), and registering with the Financial Intelligence Unit (FIU) and the Vanuatu Investment Promotion Authority (VIPA). A local director as well as a local office are also mandatory, highlighting the emphasis on maintaining a strong local presence through ongoing communication with the VGA.
The Vanuatu Minister for Finance, John Salong, emphasized that the initiative is designed to re-establish Vanuatu as a leader in the global iGaming industry. The government-backed framework is tailored to meet global compliance standards, ensuring the industry remains free from criminal activities while offering a stable and lucrative environment for operators.
Furthermore, payment processors, banks, and technology providers catering for iGaming operators have already familiarized themselves with the VGA legislation, finding it adequately sufficient and robust. Their confidence in the regulatory environment has led them to give the green light for onboarding clients under this new license. This cooperation from key financial and technological stakeholders significantly enhances the attractiveness of the VGA license, making it the new go-to option for iGaming operators worldwide.
When compared to other jurisdictions like Anjouan, East Timor, the Philippines, or even Costa Rica, Vanuatu stands out due to its enhanced credibility, political stability, and adherence to international standards. The other jurisdictions often present challenges such as unclear regulations if any at all, limited or no government oversight, and reputational risks that can deter major operators. With these jurisdictions it will be nearly impossible to find payment and banking solutions, and if do manage to find any, their rates will be exorbitantly high. Vanuatu, on the other hand, offers a well-regulated environment that balances the needs of operators and the protection of players, making it a more secure and appealing choice for long-term business sustainability.
This unique blend of stable regulation and ease of doing business positions Vanuatu to become the new industry standard for both startups and established operators. The jurisdiction’s delicate balance between stringent regulatory oversight and business-friendly policies ensures that operators can maintain compliance while enjoying operational flexibility. As the online gaming landscape continues to evolve, and the unfolding situation in Curacao – the only real challenger to the Vanuatu Gaming License – is anything but clear, Vanuatu’s licensing framework is likely to attract a broad range of companies, from emerging startups looking for a trustworthy and supporting regulatory environment to well established operators seeking to expand their global footprint.
As a result of these advancements, Vanuatu is poised to become an even more attractive destination for iGaming enterprises, blending its natural beauty with a sophisticated, business-friendly environment.
Why Choose Us?
When it comes to iGaming licenses, Porat Group stands as your ultimate legal partner. Our team is abundant with experience and a deep understanding of the intricacies of iGaming regulations by, inter alia, maintaining ongoing communications with regulators around the world, ensuring a smooth and successful with each licensing process. We take the complexity out of the process, providing you with clear step-by-step guidance, expert insights, and personalized solutions tailored to your unique needs. We will provide a seamless and efficient path to obtaining your license, as we believe that your success is our commitment!
When you choose Porat Group, you benefit from:
- Legal Support
From idea to execution, we guide you through licensing across multiple jurisdictions. We handle every step, including applications, communication with regulators, policy drafting, and ensuring full compliance. - Payment Solutions
We help you set up bank accounts, connect with payment providers and crypto exchanges, and find reliable payment solutions that fit your business needs. - Compliance Services
Stay compliant with our updates, expert advice, outsourced compliance officers, and AML solutions. We also offer compliance training and tools to ensure you meet all regulatory requirements. - Global Professional Network
We connect you with local law firms, accountants, and service providers worldwide to ensure your business stays in good standing, wherever you operate. - Trusted Industry Partner
Leverage our industry relationships to access the best service providers, allowing you to benefit from our network and connections.
Get in touch with us to learn more about having a gaming license in Vanuatu.
Written by Genia Gurevich, Adv.
Senior Associate
