UKRAINE

Ukraine: general provisions of the new gambling bill

The new bill on gambling has been recently submitted to the Ukrainian Parliament for consideration. The bill legalizes casinos, bookmakers, lotteries, slot machine operators and poker. Ukrainian mass media have already published some paragrapfs of the draft law.

Casinos, bookmakers and poker will also be allowed online. To get started, companies need to obtain a license that will be issued specifically for each type of activity.

Gambling operators should be legal entities registered in Ukraine. They should be created in the form of business entities with a charter capital of UAH 30 million or more. The management and accountant must be persons without a criminal record or a ban on working in specific positions. In this case, the chief accountant must have a higher economic education. Local government and non-profit organizations should not participate in the management of a gambling company.

To operate legally companies need a license. In total, 10 types of licenses will be issued for each type of gambling. Applicants need to submit an application with the name of the organization, its location, bank details and TIN of the owner. Moreover, the company needs to provide information about the shareholders and their shares, the final beneficiary, brand and domain name (if the gambling services are to be offered via Internet).

The industry will be controlled by the Commission for the Development and Regulation of Gambling. This is a collegial body that reports to the Cabinet of Ministers. The commission will consist of a head and six members. The commission will be responsible for issuing licenses, as well as for other tasks in the gambling industry, namely issuing normative acts and decisions obligatory for companies in the gambling industry; create licensing conditions and monitor their compliance; maintain a register of companies.

The bill is being reviewed by the committees of Ukrainian Parliament. The bill status can be monitored on the official website of Verkhovna Rada.

Learn more about new Ukraine’s bill on Gambling:

Ukraine’s bill on gambling: special gambling zones requirements

Ukraine’s bill on gambling: who’s allowed to play

Ukraine’s bill on gambling: how much does gambling licenses cost

Ukraine’s bill on gambling: requirements for iGaming

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