Internet poker license

The practice of conducting gambling activities on the Internet is widespread.

This is an attractive alternative to holding and equipping premises for the possibility of organizing gambling or a successful opportunity to expand an existing business for several reasons:

• firstly, it is quite convenient, as it allows interested visitors to connect to the game from anywhere in the world, where there is an Internet connection;
• secondly, it has a greater accessibility and social aspect of appeal to customers, given that online poker allows visitors to communicate with other visitors without borders and is cheaper to visit than visiting a casino.

For the legitimate organization of online poker on the Internet, it is necessary to obtain a license for the organization and conduct of online poker gambling from the Gambling and Lottery Regulatory Commission (KRAIL).

The process of obtaining such a license is complicated, in particular due to the need to comply with the applicant’s license conditions.

A client wishing to obtain a license to organize online poker activities must meet a number of the following requirements:

• to be a legal entity duly registered on the territory of Ukraine, the main activity of which is the organization and conduct of gambling;
• the authorized capital of a legal entity cannot be less than 30,000,000 hryvnias for proper operation;
• has confirmation of the business reputation of the manager (director), all ultimate beneficial owners, as well as the chief accountant of the company (including confirmation that they have no relation to the aggressor state);
• other requirements available by current legislation.

To obtain a license, there is a basic procedure defined by the law of Ukraine. Lawyers of JSC “Prikhodko and Partners” provide their services of full legal support of the entire process of obtaining a license, high-quality and complete consultations on any issue that may arise for interested clients in the licensing process.

The main stages of the specified procedure are as follows:

Collection and preparation of documentation.

The main documents for consideration by the state body are the following:

• a correctly completed application for obtaining a license,
• duly certified copies of the founding documents of the company (applicant),
• documents confirming the source of the funds used to form the authorized capital of the legal entity,
• a certificate of no criminal record of the manager (director), ultimate beneficial owners, chief accountant, other documents confirming the business reputation of the specified persons, etc.

Sending documents for consideration, providing a decision on licensing.

By law, an administrative fee worth 5,000 minimum wage is charged to the applicant for submitting documents for obtaining a license for online poker, which from April 2024 is 40,000,000 hryvnias. The total term for considering a package of documents at KRAIL is 30 calendar days.

Conclusions.

The procedure for obtaining a poker license on the Internet is quite complicated and requires a lot of effort and patience on the part of the applicant, in particular during the collection of the necessary documents.

The company “Prikhodko and Partners” offers the services of its qualified lawyers to help you support this procedure.