The License shall be automatically and without notice revoked under the following circumstances:
- If the Company engages in activities prohibited by or in violation of any laws, regulations, or standards in force in the Autonomous Island of Anjouan, Union of Comoros.
- If the Company, being an international entity, operates beyond its approved constitution in a manner not permitted under Anjouan’s legal framework.
- If the Company operates in sectors such as insurance, air/sea transport, gambling, or other licensed businesses without obtaining the necessary specific licenses.
- If the Company fails to maintain at least one Director or one member, or invites the public to subscribe to shares or debentures.
The Company is not considered to be conducting business in Anjouan if it:
- Engages with other companies incorporated under the Act.
- Leases premises for its business as permitted by the Act.
- Maintains deposits or professional services with entities licensed to conduct banking business in Anjouan.
- Prepares its books, holds meetings, or maintains records within the jurisdiction.
Failure to make timely renewal payments will result in the suspension or revocation of the License and International Business Company (IBC). Furthermore, the persons responsible for managing the Company’s business shall be held personally, jointly, and severally liable for any actions, irregularities, or violations committed after cancellation. They must also provide annual police clearance certificates confirming their absence from criminal proceedings.
Any changes to the Company, including share capital adjustments or the appointment or removal of Directors or Shareholders, must be approved by the Anjouan Registrar of International Business Companies.
By accepting this License, the Company acknowledges and agrees to adhere to all terms and conditions, which may be amended at any time by the Registrar of International Business Companies.