Vanuatu-One of the Least Known Licensing Jurisdictions

Most people would never connect an island paradise like Vanuatu with the online gaming industry. In reality online gaming is a mainstay of Vanuatu’s economy. Vanuatu is also a tax haven and the financial services industry plays a huge part in V’s economy. Vanuatu has no income taxes, capital gains taxes, withholding taxes or inheritance taxes making the nation a perfect place for the wealthy to park their money. Vanuatu is probably one of the least known licensing jurisdictions for the online gambling industry. Even better Vanuatu has an impeccable reputation in the industry and holds online gaming operators to very high standards.

Located in the South Pacific Vanuatu is about 1,090 miles east of Australia and 310 miles northeast of New Caledonia. Vanuatu is comprised of 83islands. Vanuatu is working hard to position itself as a premiere licensing jurisdiction for internet gambling. Gaming operators are looking for stable environments to conduct business. The political stability of Vanuatu combined with a sophisticated infrastructure and a minimal tax regime make Vanuatu an ideal location for the internet gaming industry.

License applicants in Vanuatu undergo extensive background checks by the State Law Office. All applicants are required to submit their internet gaming systems to testing by an independent security firm to ensure fairness and reliability. Vanuatu has been issuing licenses since 1999. On their website Vanuatu Interactive Gaming consultants state “In 1999, the Government of Vanuatu completed an extensive 9 month research and analysis project into internet gaming. The Government then determined that internet gaming, if managed responsibly and appropriately, may be offered from within Vanuatu with significant advantage to operators, players and the people of Vanuatu represented by the Government.”

The nation of Vanuatu has created a legislative framework that requires the following;
Probity checking of license applicants to make sure no licenses are issued to those with a criminal background.
Competency checking to make sure all licensees have the necessary skills to operate an online gambling business.

Financial checking of operators to make sure licensees are properly capitalized.
Gaming system checking to make sure all gaming software is fair and secure.

At present there are not any online bingo sites licensed in Vanuatu but that could change with the rapid growth of the online bingo games industry. Vanuatu may be remote but modern technology has made it possible to overcome geographic disadvantages. With their high standards and ongoing compliance checks sites licensed in Vanuatu are held to some of the highest standards in the industry.

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