The island nation of Vanuatu has officially launched its new online portal and started processing applications for its recently announced online gambling licenses.
The new licensing framework was launched last month, initially targeting B2C operators active in gray market jurisdictions. https://www.vga.vu, the portal now allows operators seeking the new Vanuatu Interactive Gaming License to complete the process entirely online.
The license is managed by the Vanuatu Gaming Authority (VGA), whose CEO, Macyn White, commented on the ease and benefits of this new approach: "Electronic gaming operators need speed, efficiency, accurate information, and strong compliance to successfully compete in this fast-paced industry. We believe that the new online application portal meets all these criteria, allowing interested parties to understand the situation and get up and running in record time," White said.
"For the industry, this new regulatory framework and online portal have come at just the right time. Licensing jurisdictions around the world are undergoing major transformations, with some choosing to completely shut down the online sector, while others require a complex and cumbersome process. At VGA, we strive to address these issues and elevate Vanuatu as a preferred jurisdiction for new Vanuatu gambling licenses focusing on key facts including a €5,000 application fee, €10,000 annual license fee, a 15-year license validity, a 1% betting activity tax on gross gaming revenue (GGR), and each license including one URL with the ability to add additional URLs at a moderate cost.
VGA collaborates with the local regulatory body, Vanuatu Department of Customs and Inland Revenue, to handle public-private partnership applications. The online-only mode enables VGA to set the processing time for each successfully submitted application at two to three weeks. The jurisdiction also follows a principle where operators must ensure legality in their desired gray market area by obtaining relevant legal advice. Currently, only countries explicitly blacklisted by FATF are prohibited from being targeted markets. Preferred jurisdiction for operators in the online regulated market.
