Curacao vs Anjouan: The winner isn’t who you think

In this new article, iGaming industry consultant Ron Mendelson, Fast Offshore, explores the advantages of the Curacao online gaming license vs. the Anjouan license.

Lower cost. Faster setup. Stronger enforcement. One of these is getting crushed in 2025. 

The international iGaming industry is a fast-moving beast, and choosing the right licensing jurisdiction can make or break your success as an operator. For many years, Curacao has been the go-to choice for online gaming companies looking for a license. Since the mid-90s, its name has been synonymous with affordability, speed, and flexibility.

But in 2025, the tides are turning. Anjouan, a lesser-known island in the Comoros archipelago, is rapidly emerging as the new favourite of the iGaming world. With lower costs, faster setup times, and a regulatory framework that’s both flexible and credible, Anjouan is already outstripping Curacao in almost every way. Here’s why the winner isn’t who you might expect.

The fall of Curacao’s crown

Curacao has long been a heavyweight champion of iGaming licenses. Since the 1990s, it has attracted operators due to its low costs, quick licensing process, and access to global markets. Its master and sub-license system allowed operators to get up and running with minimal fuss, making it a haven for startups and established brands alike. Over the years, hundreds of operators flocked there to enjoy low costs and a flexible business environment. But that era is over. Recent regulatory overhauls, driven by pressure from the Netherlands and global scrutiny, have shaken Curacao’s once-unshakable appeal.

In 2023, Curacao introduced the National Ordinance for Games of Chance (LOK), scrapping the old master and sub-license model in favour of a centralised system under the Curacao Gaming Authority (CGA). The idea was to clean up Curacao’s reputation, which had taken a hit due to lax enforcement and associations with grey-market operators. The new framework demands stricter compliance, including robust anti-money laundering (AML) and know-your-customer (KYC) protocols, as well as a local presence with at least three local hires. While these changes aim to restore credibility, they’ve come at a cost to operators.

The transition has been messy. Deadlines for operators to switch to the new system were extended multiple times, creating uncertainty. In addition, operators have faced restrictions such as the inability to add new domains and increased costs. Application, annual, and monthly fees are significantly higher than before. For startups and smaller operators, these barriers are daunting. Curacao’s once-legendary affordability is eroding, and its reputation, still scarred from past enforcement issues, hasn’t fully recovered. The result is that many operators are left wondering if Curacao is still worth it.

Anjouan’s meteoric rise

Enter Anjouan, a small island in the Indian Ocean that’s quickly becoming the iGaming industry’s best-kept secret. Anjouan has been issuing gaming licenses since 2005, but it’s only in the last few years that it’s gained serious traction. Today, over 850 operators hold an Anjouan license, and that number is climbing fast as word spreads. Why the surge? It’s simple: Anjouan offers the fastest and most cost-effective licensing process in the world.

Setting up an Anjouan license is a breeze. Operators can be licensed in a few days with a streamlined application process. Meanwhile, the cost is low, and there is no gaming tax on gross gaming revenue (GGR) or VAT. For startups or operators on a budget, this is a game-changer. Anjouan’s single license covers all gaming activities, from casinos and sports betting to poker and lotteries, offering unmatched flexibility without the need for separate licenses.

But don’t mistake affordability for leniency. Anjouan’s regulatory framework strikes a delicate balance: it’s flexible enough to attract new operators but tough enough to maintain credibility. The Anjouan Offshore Finance Authority (AOFA) and other authorities enforce strict AML, KYC, and responsible gaming standards, ensuring operators meet international compliance requirements. In addition, when you partner with Fast Offshore, we have a strict onboarding procedure and will check all your documents to ensure you comply with all applicable best practices and measures. Unlike Curacao’s past struggles with enforcement, Anjouan conducts thorough due diligence and background checks, building a reputation for stability and trustworthiness. Operators must submit business plans, proof of domain ownership, and compliance documentation, and those using random number generators (RNGs) need testing certificates. This rigour reassures players and partners while keeping the process manageable.

Why Anjouan is winning

Anjouan’s appeal goes beyond cost and speed. Its regulatory environment is stable and predictable, a stark contrast to the uncertainties plaguing Curacao’s transition. Operators don’t have to worry about sudden rule changes or operational restrictions, making it easier to plan long-term. Anjouan also supports crypto-friendly operations, tapping into the growing demand for digital currency in iGaming. This flexibility opens doors to emerging markets like Asia and Latin America, both areas of significant growth.

While Curacao still has a broader network of service providers—payment systems, hosting solutions, and technical support—Anjouan is catching up fast. Its growing popularity means more providers are accepting Anjouan-licensed operators, and partnerships with banks and payment gateways are becoming easier to secure. 

The catch—and how to navigate it

Anjouan isn’t perfect. Its relative newness means it lacks the brand recognition of Curacao or top-tier jurisdictions like Malta or the Isle of Man. But as Anjouan’s licensee base grows and its reputation solidifies, it is becoming more and more well-known and respected.

Choosing between Curacao and Anjouan depends on your business goals. Curacao’s stricter regulations and established infrastructure might suit larger operators aiming for a particular kind of market. But for startups, mid-tier operators, or those prioritising cost and speed, Anjouan is the clear winner. 

Fast Offshore: Your guide to the right choice

Navigating the iGaming licensing landscape can feel like walking through a minefield. That’s where Fast Offshore comes in. With over 27 years of experience, Fast Offshore specialises in helping operators make informed decisions. Our team of professionals can take you through the whole process from deciding which is the best jurisdiction for you, to gathering documents, and applying. Once approved, we are on hand to help with all setup matters and ongoing maintenance. With off-the-shelf and custom packages available, our team is ready to help! Contact us today to get the process started.