Vanuatu Launches New Online Licensing Framework for eGaming

Launching a new licensing structure that permits only online applications, Vanuatu is the country that has led the way in providing licenses for internet gambling since the 1990s. The Vanuatu Interactive Gaming Act’s new regulations, which modernize licenses from 1993, were introduced by Macyn White, CEO of the Vanuatu Gaming Authority (VGA), and Finance Minister John Salong during an event in Port Vila.

The new regulations, which are aimed at operators pursuing pre-regulated markets, include an entirely online application process. The portal, which is under the VGA’s supervision, is made to expedite the application process while guaranteeing thorough background checks on each candidate.

Important details revealed during the event include a 1% wagering activity, a 15-year license validity, an annual license price of EUR 10,000 ($10,700), and an application charge of EUR 5,000 ($5,370). The new framework is primarily for B2C operators, according to Macyn White and Finance Minister John Salong.

Each license includes two URLs, with the option to add more for a fee, facilitating White Label operations similar to those on the Isle of Man. Minister Salong stated, “Our new regulations strike a balance between compliance with industry standards and the freedoms businesses need to operate effectively.

“He also highlighted that the new application process ensures timely processing and strict background checks, aiming to reestablish Vanuatu as a leading eGaming jurisdiction.

Tax on Gross Gaming Revenue. In compliance, the new rules seek to maintain the island’s industry free from criminal activity. Online applications that are judged sufficient will be returned for correction, while those that are not will proceed to the processing step.

It is anticipated that new application processing will begin in early July. By emailing info@vgaemail.com, interested parties can get in touch with the Vanuatu Gaming Authority.

Original Story by: AGB