Comoros · Anjouan / Ndzuwani (AOFA) · Offshore licence

Anjouan forex license: what it is and why recognition is the issue

Fast and inexpensive on paper, with the same fundamental problem as Mwali: the Central Bank of the Comoros does not recognise island licences and says no forex licence has been issued in the Comoros. Information only; we generally recommend other routes.

Updated October 6, 2026 · By the Forex License Research Team · How we research

Verdict

The AOFA markets an Anjouan “Brokerage License” for forex, but the Central Bank of the Comoros states that the AOFA is not recognised and that no forex licence has been issued in the Comoros.

In short

The Anjouan Offshore Finance Authority (AOFA), on the Comoros island of Anjouan (Ndzuwani), markets a “Brokerage License” for forex, CFDs and securities issued within weeks. The Central Bank of the Comoros named the AOFA among “fictitious structures” in June 2022 and, on 8 December 2025, stated that it is not recognised and that no forex “Brokerage License” has been issued in the Comoros.

Offshore licenceAfrica & Indian OceanOn request via partners

Key facts

Regulator	Anjouan Offshore Finance Authority (AOFA), island level; not recognised by the Central Bank of the Comoros
Licence	“Brokerage License” marketed for forex, CFDs and securities
Legal basis	Anjouan island legislation of 2005 (validity of financial licensing disputed by the Union of the Comoros)
Entity	Anjouan International Company (IBC)
Typical timeline	A few weeks
Capital	No meaningful prudential capital regime identified
Tax	Marketed as 0%
Recognition	Not recognised by the Central Bank of the Comoros
Client markets	No recognised market access; AOFA’s own conditions exclude Australia, France, the Netherlands, Spain, the UK, the US and others
EU passport	No
Our service	On request via partners

Speed

Reputation

SubstanceNone

Cost of ownershipVery low

Indicative information for comparison only, reviewed on the date shown. Requirements change and depend on your structure; confirm with the regulator and local counsel before deciding.

In the regulator’s words

“To date, certain activities are not authorised on national territory and no related licence has been issued, notably: Forex or the unregulated currency market (often presented as a ‘Brokerage License’). (Original: « à ce jour, certaines activités ne sont pas autorisées sur le territoire national et qu’aucune licence y afférente n’a été délivrée. Il s’agit notamment : du Forex ou marché des devises non réglementé (souvent présenté sous l’appellation « Brokerage License »). »)”
— Central Bank of the Comoros, communiqué (our translation from French), 8 December 2025

Overview

Anjouan (Ndzuwani) is an autonomous Comoros island whose offshore authority, the AOFA, says it issues licences for banking, gaming, brokerage and forex, crypto and insurance “on behalf of the Anjouan Government”. Two competing AOFA websites exist.

The Central Bank of the Comoros disputes this: financial licensing is a Union-level power, and it has stated that AOFA is not recognised and that no forex licence has been issued in the Comoros. We profile Anjouan so founders can compare it honestly. In most cases we recommend a recognised licence or, for MT5 only, a company route such as Saint Lucia.

What the AOFA says it offers

The AOFA says it was established in 2001 and draws its mandate from the Comoros constitution of 2001. It lists island Acts from 2005 (international business companies, international banks, insurance, the offshore finance authority and money laundering) and markets a Brokerage License covering a foreign exchange trading platform, shares, CFDs and securities.

Its licence conditions published for 2026–2027 require licensees not to knowingly target residents of a list of countries, to implement geo-IP blocking and to take legal advice on where trading is prohibited.

What the Central Bank of the Comoros says

In its 15 June 2022 communiqué the BCC listed the Anjouan Offshore Finance Authority among “fictitious structures which claim to issue licences for banks and financial institutions”, recalled that licensing is within its exclusive remit and referred the matter to prosecutors, including in Mutsamudu, Anjouan’s capital. The Ministry of Finance republished it on 10 December 2025.

In a separate communiqué of 8 December 2025 the BCC named the AOFA and Anjouan Corporate Services and their websites, stated that they are not recognised and cannot issue financial licences, and that no licence has been issued for forex, virtual assets or online gaming. It called claims based on Comorian licences not issued by the BCC fraudulent.

The IMF reached a similar conclusion in 2010 for offshore banks, while noting that Anjouan’s company law itself had been adopted by the island’s parliament.

Gaming and forex: two different Anjouan products

Most press coverage of Anjouan concerns online gambling licences, issued under the island’s Betting and Gaming Act 2005 through a gaming board. The forex product is a separate AOFA “Brokerage License”. The BCC communiqué of December 2025 covers both, stating that neither online gaming nor forex licences have been issued in the Comoros.

How the application works, step by step

Weigh the recognition issue
Read the Central Bank of the Comoros communiqués and check that your banking and platform plans do not depend on recognition.
Incorporate an Anjouan company
A private agent forms the international company.
Due diligence
Notarised passports, proof of address, police clearance and CVs for owners and managers.
Prepare the file
Business plan, ownership structure, AML/CFT manual and source of funds.
Pay fees and receive the certificate
The AOFA issues the licence certificate, subject to its published conditions and restricted markets.
Renew annually
Keep the company in good standing and renew the licence each year.

Documents you will usually need

Notarised passport and proof of address for each owner and manager
Police clearance certificates
CVs of managers
Business plan and ownership structure
AML/CFT manual
Source of funds evidence

Indicative timeline

Stage	Typical time
Company formation	Days
Due diligence and file	1–3 weeks
AOFA review and certificate	Days to several weeks
Banking and payments	Uncertain; many providers refuse

Substance and people

No local office or staff required
Formed through private corporate service agents
At least one member (shareholder)

Ongoing obligations

Annual renewal
Geo-blocking of restricted countries under AOFA’s conditions
No independent prudential supervision identified

Advantages

Very fast
Low cost
Minimal requirements

Drawbacks

Not recognised by the Union government or central bank
No client protection framework
Competing look-alike AOFA websites
High counterparty and reputational risk

How it compares with the alternatives

Option	Recognised licence?	Typical time	Local substance	Bank and PSP access	Best for
Anjouan (AOFA)	Disputed by the Central Bank of the Comoros	Weeks	None	Poor	Rarely recommended
Mwali (MISA)	Disputed by the Central Bank of the Comoros	2–3 weeks	None	Poor	Short-term step, accepting the risks
Saint Lucia IBC	No licence (company only)	Days	Low	Limited	MT5 base without a licence claim
Seychelles FSA	Yes	3–6 months	High	Moderate	International retail brokers

A good fit if you…

Accept the recognition dispute and its legal and reputational risks
Have banking that does not depend on the licence
Need a document quickly while building a recognised structure

Probably not for you if you…

Need recognition from banks, PSPs or regulators
Target any of the markets AOFA itself excludes
Want to describe your firm as regulated
Plan to apply for a tier-1 licence soon

How to verify a licence or registration

The AOFA publishes a register with licence numbers and end dates, and a competing site offers a “status checker”. Both domains appear in the Central Bank of the Comoros warning of December 2025.

The BCC tells the public to authenticate any Comorian licence only with the BCC itself; see its communiqué of 8 December 2025.

Recent changes

15 June 2022: the Central Bank of the Comoros listed the Anjouan Offshore Finance Authority among “fictitious structures” and referred it to prosecutors, including in Mutsamudu. 8 December 2025: a new BCC communiqué stated that AOFA is not recognised and that no forex “Brokerage License” has been issued. 10 December 2025: the Ministry of Finance republished the 2022 communiqué. 31 December 2025: ABC News (Australia) published an investigation into Anjouan licensing, mainly in online gambling.

Frequently asked questions

Is an Anjouan forex licence legit?

The AOFA describes itself as the official authority of the Anjouan government. The Central Bank of the Comoros states that the AOFA is not recognised in the Union, has no legal authority to issue financial licences, and that no forex “Brokerage License” has been issued.

What did the Central Bank of the Comoros say in December 2025?

Its communiqué of 8 December 2025 named the Anjouan Offshore Finance Authority and Anjouan Corporate Services with their websites, said they are not recognised, and warned that claims based on Comorian licences not issued by the BCC are fraudulent and may lead to prosecution.

Is Anjouan the same as Mwali?

No. They are different islands with different authorities (AOFA and MISA), but the Central Bank of the Comoros treats both the same way. See the Mwali profile.

What is the difference between an Anjouan gaming licence and a forex licence?

Gaming licences are issued under Anjouan’s Betting and Gaming Act 2005 through a gaming board; the forex product is the AOFA “Brokerage License”. The Central Bank of the Comoros says neither online gaming nor forex licences have been issued in the Comoros.

Which markets are excluded?

AOFA’s own licence conditions say licensees must not knowingly target residents of Australia, the Comoros, France, the Netherlands, Spain, the United Kingdom, the United States, sanctioned and FATF-blacklisted countries, and should use geo-IP blocking.

How long does an Anjouan licence take?

Agents advertise anything from a few days to about twelve weeks. Timing depends on the agent and the completeness of your file.

Which AOFA website is official?

There are competing sites (anjouanoffshorefinanceauthority.org and anjouanoffshorefinancialauthority.org, among others). The Central Bank of the Comoros lists several of these domains in its December 2025 warning.

Will banks accept an Anjouan licence?

Rarely. Agents and trade press report that major banks and payment processors decline Comoros-licensed entities. Line up banking before you commit.

What did the IMF find about Anjouan?

An IMF assessment in 2010 found the creation of offshore banks in Anjouan illegal under Union law, while noting that Anjouan’s company law had been adopted by the island parliament.

Are ready-made Anjouan licences safe to buy?

They are widely advertised. Beyond the recognition issue, you take on someone else’s history and the risk of look-alike authorities. Verify everything directly before paying.

Do you deliver Anjouan licences?

Only on request and after a written explanation of the risks; we usually recommend other routes.

What should I choose instead?

A recognised offshore licence such as Mauritius, Seychelles or Belize, or a Saint Lucia IBC if you only need an MT5 company base.