Extension of gambling licenses in Ukraine

The gambling industry in Ukraine is under fairly strict control by government authorities, and the extension of licenses for gambling providers is an important stage for maintaining legal activity and, accordingly, the continuation of business operations.

We, as the Legal Company “Prikhodko and Partners”, have considerable experience in the field of supporting gambling companies, therefore we offer you an overview of license extension procedures, basic requirements, costs and legal nuances in accordance with the current legislation of Ukraine.

Why is the extension of the gaming license important?

As we mentioned earlier, a license is a mandatory condition for the legal activity of gambling business in Ukraine. Without it, operators do not have the right to provide gambling services and are subject to the risk of fines and even criminal liability.

Licenses are issued for a certain period, and for their extension it is important to comply with all conditions established by law.

The procedure for extending gambling licenses in Ukraine

The process of renewing a license in Ukraine is regulated by the Law of Ukraine “On State Regulation of the Organization and Conduct of Gambling”. All operations related to license documents are carried out by the Gambling and Lottery Regulation Commission (KRAIL).

We, as specialists of the Prikhodko and Partners Law Firm, advise you to start the license extension procedure in advance to avoid possible delays and difficulties.

Next, we will list the main stages that must be completed:

1. Appeal to KRAIL: The operator submits an official application for license extension, to which the necessary documents are attached.
2. Compliance check: KRAIL conducts an audit of the company’s activities. It is checked whether the company’s activities comply with all the norms of the law, in particular financial, technical and organizational requirements.
3. Submission of financial reports: The company must provide up-to-date financial statements that demonstrate the stability of the company and its ability to fulfill obligations to the state and customers.
4. Confirmation of solvency: It is necessary to confirm the financial capacity of the enterprise to cover license fees and pay all taxes provided by law.
5. Agreeing to new terms or changes to the license: If the company changes the conditions of operation or makes corrections to its documents, it is necessary to coordinate them with KRAIL.

What is required to extend the license?

We have prepared a list of key documents and requirements necessary for the renewal of a gaming license in Ukraine, namely:

• Application for license extension. This is the main document on the basis of which consideration of the issue of license extension begins.
• Documents confirming solvency. The company must provide financial statements, account statements and other documents confirming its stable financial condition.
• Copies of valid documents company (charter, extracts from registers, documents on company management).
• Actual information about technical support. In the case of using new systems or technologies in the gameplay, these changes must also be agreed with KRAIL.
• Documents regarding the fulfillment of social obligations. Companies must fulfill social obligations to the state, including payment of taxes, contributions and other requirements.

License renewal fee

The extension of the gaming license is accompanied by financial costs. The cost of license fees is determined depending on the type of gaming activity (casino, bookmaker, lotteries, etc.). The license fee is paid annually, and its amount is regulated by the Law of Ukraine “On State Regulation of the Organization and Conduct of Gambling”.

We always draw our customers’ attention to the importance of timely payment of fees, as late payment may result in the license being revoked.

How to start the extension procedure?

The procedure for extending the gaming license should be started a few months before its expiration.

The main steps include:

1. Preparation of documents. We advise you to check all documents in advance and update those required for submission to KRAIL.
2. Application submission. The application and accompanying documents can be submitted in electronic or paper form.
3. Conducting an audit. After submitting the documents, KRAIL can conduct an audit of the company’s activities for compliance with legal requirements.
4. Waiting for a decision. The decision to extend or deny the extension of the license is usually made within a few months after all documents have been submitted.

Nuances of license extension in Ukraine

Extending a gaming license is not an automatic process. The company must prove its compliance with the requirements of the law and its ability to fulfill all the necessary conditions.

Here are some important nuances to consider:

• Regular payment of fees. If the company is in arrears for license fees or other payments, this may be grounds for refusing to renew the license.
• Compliance with technical standards. Gaming hardware and software must meet security and transparency standards.
• Compliance with social responsibility. Companies are required to implement social programs related to responsible gambling business.

Conclusion

Extending a gaming license in Ukraine is an important procedure that requires a serious approach and compliance with all legal requirements. We, as the Law Firm “Prikhodko and Partners”, are ready to accompany you at every stage of this process – from the preparation of documents to the successful extension of the license.

Contact us and we will help avoid misunderstandings and ensure the successful functioning of your business.