The island nation of Vanuatu has officially launched its new online portal and begun processing applications for its recently unveiled online gambling license.
The new licensing framework was launched last month and is initially aimed at B2C operators that are active in grey market jurisdictions. The portal, https://www.vga.vu, now allows operators wishing to acquire a new Vanuatu Interactive Gaming License to do so entirely online.
Licenses are administered by the Vanuatu Gaming Authority (VGA) and its CEO, Macyn White, commented on the ease of use and advantages of this new approach: “eGaming operators require speed, effectiveness, updated information and strong compliance to successfully compete in this fast-paced industry. We’re confident that the new Online Applications Portal checks all of the boxes to get interested parties informed and up and running in record time,” White said.
“This new regulatory framework, and online portal, could not come at a better moment for the industry. Licensing jurisdictions worldwide are undergoing significant shifts, some choosing to shut down the online sector entirely, and others requiring a complex and onerous process. Here at the VGA, we endeavored to solve these problems and elevate Vanuatu as the go-to jurisdiction for online operators focused on pre-regulated markets”.
Key facts of the new Vanuatu gambling license include a EUR5,000 application fee, EUR10,000 annual license fee, a license validity of 15 years, a 1 percent Wagering Activity Tax charged on Gross Gaming Revenue (GGR), as well as the inclusion of one URL per license, with additional URLs able to be added for a moderate fee.
The VGA processes applications in a public-private partnership with the local regulator, the Vanuatu Department of Customs and Inland Revenue. Using the online-only model enables the VGA to aim for processing times of two to three weeks per successfully submitted application. The jurisdiction also follows the principle that operators must ensure targeting their desired grey market regions is legal by obtaining relevant legal advice. Only countries currently on the FATF black-list are explicitly forbidden to be targeted at this moment in time.
