TL;DR
- Anjouan costs $17,828–$22,000 all-in and takes 4–6 weeks; Curacao costs $30,000–$50,000 and takes 8–12 weeks.
- Curacao has more established PSP relationships but is actively tightening requirements under the new OGA framework.
- Anjouan is growing fast among lean operators and crypto-focused casinos — PSP acceptance is improving month by month.
- Both allow crypto payments; neither requires physical substance in the island jurisdiction.
- For a first license with limited capital, Anjouan wins on cost and speed. For scale and longevity, Curacao still has more runway.
The Context: Two Offshore Powerhouses
Until 2023, Curacao had a near-monopoly on accessible offshore gambling licenses. A single master licence (issued to a handful of sub-licensor companies like Antillephone and Gaming Curacao) allowed hundreds of operators to run under a sub-licence for as little as €15,000 per year. That model is ending. Curacao’s new Online Gaming Authority (OGA) framework, which came into force in late 2023 and is being phased in through 2024–2025, requires operators to hold their own direct licence, significantly increases compliance requirements, and raises costs.
Into this gap, Anjouan — formally the Autonomous Island of Anjouan in the Comoros archipelago — has positioned itself aggressively as a faster, cheaper, and less bureaucratic alternative. It is not perfect, but for a specific type of operator it is the right tool.
Here is how to think about the decision.
Head-to-Head Comparison
| Factor | Anjouan | Curacao (New OGA) |
|---|---|---|
| All-in cost (Year 1) | $17,828–$22,000 | $30,000–$50,000 |
| Annual renewal | ~$10,000–$14,000 | ~$20,000–$35,000 |
| Timeline to licence | 4–6 weeks | 8–12 weeks |
| PSP acceptance | Improving — Medium | Established — Medium (declining) |
| Crypto payments | Yes, explicitly permitted | Yes, permitted |
| KYC/AML requirements | Moderate | High (tightening) |
| Substance requirements | Minimal | Low-moderate |
| Player dispute mechanism | Via regulator (ANRA) | Via OGA |
| Brand recognition among players | Low-growing | Medium |
| Affiliate network acceptance | Growing | Strong |
PSP Acceptance: The Real-World Picture
PSP acceptance is the factor most operators get wrong when comparing these two. The conventional wisdom — “Curacao has better PSP acceptance than Anjouan” — was true in 2022. In 2026, the gap has narrowed significantly.
Payment processors that currently accept Anjouan-licensed operators include: Payneteasy, Payop, Genome, Interkassa, Betatransfer, and a growing number of Asian-focused processors. Processors that remain Curacao-only or Curacao-preferred include Verotel (adult niche), and some of the larger European acquiring banks that have long-standing Curacao relationships.
The key point: most of the processors that accept Anjouan also accept Curacao. The reverse is not always true — but the gap is smaller than most people assume, and it is closing.
For crypto payment processors (NowPayments, CoinsPaid, etc.), the licence jurisdiction is almost irrelevant. Both Anjouan and Curacao are accepted by all major crypto payment processors.
When to Choose Anjouan
Anjouan is the right choice when:
- You are launching your first operation and capital is limited. The $15,000–$30,000 saving over Curacao is meaningful at the early stage.
- Your primary payment model is crypto-first. Anjouan explicitly supports this and PSP integration is not a bottleneck.
- You need to move fast — 4–6 weeks is genuinely achievable with an experienced agent. Curacao rarely delivers in under 10 weeks under the new framework.
- You are targeting Eastern European, CIS, or Asian player markets where licence brand recognition among players is lower priority than payment method coverage.
- You plan to upgrade to a more regulated licence (MGA, UKGC) within 3–5 years — Anjouan gives you the operational runway to build revenue before that investment.
When to Choose Curacao
Curacao still makes sense when:
- You have existing PSP relationships that specifically require a Curacao licence.
- You are targeting Western European players where Curacao brand recognition provides a marginal trust advantage.
- Your affiliate program is built around networks (Income Access, Affiliate Edge) where operators with Curacao licences have historically had easier onboarding.
- You need a jurisdiction that is further along in FATF compliance — certain banking partners still give preference to Curacao-licensed entities.
Cost Comparison Over 3 Years
| Cost Element | Anjouan (3yr) | Curacao (3yr) |
|---|---|---|
| Initial licence + Year 1 | $22,000 | $50,000 |
| Year 2 renewal | $12,000 | $30,000 |
| Year 3 renewal | $12,000 | $30,000 |
| Compliance (AML, MLRO, etc.) per year | $6,000 | $12,000 |
| 3-Year Total (licence + compliance) | ~$58,000 | ~$146,000 |
The $88,000 difference over three years is significant. For a startup operation, that is several months of runway or a meaningful paid acquisition budget.
Compliance Obligations: Practical Differences
Both jurisdictions require AML/CFT policies, KYC procedures, and responsible gambling tools. The practical difference is in how strictly these are enforced and what evidence of compliance is required at renewal.
Anjouan’s regulator (ANRA) requires an annual compliance report and can conduct audits, but in practice the compliance burden for operators with under €5M annual GGR is relatively light. You need documented policies, a named MLRO, and evidence that your KYC procedures are operating — not a full internal audit programme.
Curacao’s OGA, under the new framework, is significantly more rigorous. Quarterly reporting, a local compliance officer (or approved outsourced function), and evidence of player fund segregation are among the new requirements. This is appropriate for a larger operation but adds cost and complexity at the early stage.
Comparing your options? Legarithm has obtained both Anjouan and Curacao licences for 200+ clients. We can assess your specific situation — player market, payment model, budget — and recommend the right fit. Book a free consultation.
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This article is for general informational purposes only and is not legal, tax, or financial advice. Consult a qualified professional before acting. Editorial Policy.
