Vanuatu Online Gambling License

The Vanuatu Interactive Gaming License (VIGL) has been re-launched, offering an updated and streamlined process for obtaining a license to operate online gambling businesses. Recognised as a pioneer in online gambling licensing, Vanuatu has introduced a refreshed framework designed for operators active in pre-regulated markets. At Chambers & Co, we are excited to provide you with detailed information about the application process, core requirements, and the advantages of obtaining a VIGL.

The Application Process

The application process for the Vanuatu Interactive Gaming License is entirely online, facilitated by a new administration portal expected to be operational soon. The streamlined process emphasises a balance between robust regulations and ease of doing business. Here are the core requirements for the VIGL application:

  1. Due Diligence on the Ultimate Beneficial Owner(s)
    • Proof of identity and address.
    • Satisfactory explanation of the Source of Wealth (SOW) of the UBO(s), which can be provided through a SOW statement prepared by a qualified professional or bank statements.
  2. Due Diligence on Associated Entities
    • Examination of any entities associated with the license, such as holding companies.
  3. Explanation of the Source of Funds
    • Financial statements prepared by a qualified professional or company accounts demonstrating how funds were generated.
  4. Business Plan
    • An outline of the core aspects and plans of the company in relation to the VIGL. A template will be provided as part of the application process.
  5. Proof of Domain Ownership
    • Documentation proving ownership of any domains to be used.
  6. Policies and Procedures
    • Copies of relevant policies and procedures, especially those related to Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT).
  7. Nomination of a Responsible Person
    • Every licensee must nominate an individual who will be the primary point of contact for the Vanuatu Department of Customs and Inland Revenue (VDCIR) and the Vanuatu Gaming Authority (VGA). This person should possess relevant industry experience.

Licensing Details

  • Domain Names: Each license includes two domain names. Additional domains can be added for a fee with proof of ownership.
  • Presence in Vanuatu: The license must be held by a Vanuatu company, necessitating a presence in Vanuatu.
  • B2C License: The VIGL is a B2C license aimed at operators targeting pre-regulated markets. A B2B license is under preparation and will be available later.
  • License Validity: The VIGL is valid for 15 years from the date of issuance.
  • Fiat and Crypto Currencies: The license permits the use of both fiat and cryptocurrencies for gameplay.

Covered Gaming Verticals

The VIGL covers all common gaming verticals, including:

  • Sports Betting
  • Online Casino
  • Online Live Casino
  • Bingo
  • Keno
  • Lottery
  • Poker
  • Crash Games
  • Novelty Games

If there is any uncertainty about the licensability of a particular product, Chambers & Co can review and provide advice accordingly.

Certification and Compliance

VDCIR and VGA require relevant certification for any platforms and games to be used under the VIGL. They accept the majority of established testing houses. Additionally, a games master list is being established to streamline the process. Games using the Provably Fair method of random number generation are permitted, provided the method is transparent.

Costs

  • Application Fee: €5,000
  • Annual License Fee: €10,000
  • Wagering Activity Tax: 1% of Gross Gaming Revenue (GGR)

Vanuatu offers attractive tax benefits, including no corporation tax and exemption from VAT for gaming companies.

At Chambers & Co, we are committed to guiding you through the VIGL application process, ensuring compliance with all regulatory requirements, and facilitating a smooth transition to operating under the Vanuatu Interactive Gaming License. For further assistance or to start your application, please contact us. We will keep you informed about the operational status of the application portal and provide comprehensive support throughout the process.

Contact us today to learn more about the Vanuatu Interactive Gaming License and how we can assist you in establishing a successful online gaming business in Vanuatu.