Anjouan corporate structure and EU payment agent

Securing a gaming license and establishing a robust financial framework can be challenging for companies in various jurisdictions, including the United Kingdom, Anjouan, Curacao, and Hong Kong. These challenges stem from regulatory scrutiny and the high-risk nature of the gaming industry, leading to limitations in payment acceptance from certain regions. However, a practical approach involves acquiring a gaming license for a company based in a preferred jurisdiction like the UK, Curacao, or Hong Kong.

Key Steps for Setting Up a Successful Gaming Business and Financial Structure:

• Company Formation: Establish a company in a chosen jurisdiction (e.g., UK, Curacao, Hong Kong) to hold the gaming license. This entity can also hold an Anjouan gaming license.
• Gaming Company Bank Account: Open a bank account tailored to handle the high-risk financial transactions typical in the gaming sector.
• Merchant Account/Payment Service Provider (PSP) Partnership: Collaborate with a PSP experienced in the gaming industry to optimize payment processing.
• Electronic Money Institution (EMI) Accounts: Set up EMI accounts to facilitate seamless transactions with the PSP, ensuring efficient payment processing.
• Establish a Holding Company: Create a holding entity within the banking domain of your chosen jurisdiction. This company will manage crucial financial accounts, including bank, EMI, and merchant/PSP accounts.

Challenges in Establishing Gaming Payment Infrastructure

Gaming companies often face difficulties with banks due to unfamiliarity with the gaming sector’s regulations, leading to reluctance in opening accounts. Banks impose strict criteria for high-risk merchant accounts to mitigate risks.

Gaming companies’ merchant account applications are often rejected by banks due to factors like high traffic, large transaction volumes, and a higher risk of fraud and chargebacks. Specialized payment processors, familiar with the gaming industry’s needs, provide reliable merchant account services. These services include real-time fraud detection and facilitate swift, multi-currency card payments globally.

Finding a dependable payment processor is crucial for smooth and secure payment transactions in the gaming industry. However, securing reliable providers for bank and merchant accounts, necessary for credit card processing, is a challenge for many gaming operators.

Incorporating a gaming license into a company from a desired jurisdiction offers several advantages. For example, using a company from the UK, Curacao, or Hong Kong helps in gaining recognition from banks and financial institutions in those areas. This approach allows for the creation of a corporate banking structure in the preferred jurisdiction, with a payment processing agent located either in the EU or offshore. While tax regulations may differ across jurisdictions, adherence to international standards like the Code of Conduct for Business Taxation, CTF, and AML is crucial.

For success in the gaming industry, companies require payment solutions that ensure streamlined processing, secure deposits, and easy withdrawals. Acquiring a gaming merchant account is necessary for card payment acceptance, but this comes with its own set of fees and challenges in finding appropriate processing services. Not all payment processors cater to the gaming industry due to its high-risk perception. Therefore, gaming payment services must offer real-time fraud detection, fast card payment processing, and support for multiple currencies globally.