The CFC act lays out the framework to facilitate the establishment of an international insurance business from The Union of the Comoros. Application for insurance licenses is made to the Comoros Finance Commission for International Insurance by companies already holding an IBC (International Business Company). There is one class of insurance business authorized by the CFC which is a class 2 General Insurance License, insuring different parties? risks. In the case of third-party business, the insurance company should demonstrate access to the necessary underwriting and analytical skills, financial soundness and a good track record. Full details of all programs to be underwritten must be submitted for approval to the CFC.

This License is subject to any variations of the Comoros Finance Commission Act number: 17-008/01/CFC/AU of 2017 Law Number 17-008/AU.


Download Form


  • The objects and purposes of the Company is to offer class 11 insurance services under the specific class of insurance as specified in the Insurance Regulations. 
  • The License shall ipso facto and without any prior notice stand cancelled, if any of the following events take place:
  • The Company shall engage in any activity that is prohibited by or contrary to any enactment or rule of law for the time being in force in the Union of the Comoros
  • The Company is an International Business Company and accordingly shall not, except as may be permitted by its approved Constitution:
  • Carry on business in the Union of the Comoros or own an interest in immovable property situation in the Union of the Comoros other than a lease of premises from which to carry on its business.
  • At any time have less than one member;
  • Make any invitation to the public to subscribe for any shares or debentures in the Company.
  • For the purposes of subparagraph (2) (a) the Company shall not be treated as carrying a business in the Union of the Comoros by reason only that it:
  • Carries on business with another company incorporated under the Act or in furtherance of the business of the Company carried on outside the Union of the Comoros.
  • Leases premises from which to carry on its business as permitted by the Act;
  • Makes or maintains deposits with a person licensed to carry on banking business in the Union of the Comoros. 
  • Obtains professional services from its registered agent, counsel, attorneys, accountants, bookkeepers, trust companies, management companies, investment advisers, insurance brokers or agents or other similar persons carrying on business the Union of the Comoros, other than the yearly audit
  • Prepares or maintains its books or records within the Union of the Comoros;
  • Holds meetings within the Union of the Comoros of its directors or members;
  • Holds shares, debt obligations or other securities, in a company incorporated under the Act;
  • Issues shares, debt obligations or other securities in a company incorporated under the Act or under the Companies Act.
  • If the renewal payment is not received on the due date the license will be suspended
  • The persons conducting the business of the insurance company shall hold themselves personally, jointly and severally liable for all the acts or commissions, irregularities and violations committed by them after such cancellation.
  • All resignation of directors and shareholders must be notified to the CFC or its appointed Service Provider together with a resolution. All new Directors who are to be appointed must first obtain all the required due diligence information and submit together with a signed confirmation to act as a director, together with the fee as advised (for each director ) Any change of shareholding must be notified in writing to the CFC or its appointed Service Provider.
  • A detailed business plan of the company: Activities of the bank; Countries in which the bank is looking to invest; The percentage of ownership by the shareholders; The details of the ultimate beneficial owners (chart may help if many); Any other useful information to support the application.
  • CVs of all the directors
  • Full contact details of the directors 
  • Bank reference for all the beneficial owners
  • Clear certified passport copies of all beneficial owners
  • Proof of addresses (utility bills)
  • Business or legal reference for the beneficial owners
  • Legal document for the shareholding companies (articles, certificate of incorporation etc)
  • Latest audited financial statements for all shareholding companies (if any)
  • A certificate to prove that the Directors and beneficial owners do not have a criminal record

Furthermore, all companies with an Insurance License are required to submit their annual accounts to the Comoros Finance Commission within 3 months of the year end.

SWIFT membership can be applied for as Licenses are authorized by the Comoros Central Bank.