Gambling Licence in Lithuania
From a gamblers’ point of view, a gambling licence is an indicator of reliable gambling conditions and smooth transaction of winnings. Licensed gambling businesses are regulated by authorities who supervise gambling operations and ensure that they meet all the relevant guidelines and requirements. Regulations for obtaining a gambling licence, however, tend to vary, and following them is crucial for new and already established businesses alike.
Regulated by the Gaming Control Authority under the Ministry of Finance of the Republic of Lithuania, gambling businesses may obtain one or more of the following licence types:
- Table games and category A machine gaming
- Category B machine gaming
Upon request, a single company may receive all five types of licences. However, if a gambling company wishes to facilitate remote gambling, a special licence for online-only gaming must be obtained. All licences related to gambling (including the licence for remote gambling) are issued by the Gaming Control Authority.
Requirements and procedure for obtaining a gambling licence in Lithuania
Firstly, gambling companies are subject to capital requirements. Companies that wish to organize bingo, totalisators and betting must have a capital of no less than 289 000 euro. However, in the case of organizing a horse totalisator, this requirement is split in half and a company requires a minimum capital of 144 000. Companies that wish to offer gambling with category B machines need a minimum capital of 289 000 as well, and gaming establishments require a capital of no less than 1 158 000 euro.
A company that wishes to obtain one or more of the aforementioned gambling licence types must complete the following steps:
- Fill out a prescribed form for the desired gambling licence type.
- Provide proof of sufficient capital as well as other documents confirming the formation of the company.
- Provide information on the company’s supervisory board, its chief executive officer and his or her deputy, board of directors, and chief financial officer. In addition, reports must contain notes regarding any participation in management of other companies that these individuals are linked to.
- Provide relevant documents and information regarding the origin funds of the company founders and shareholders used to acquire the registered shares of the company.
The aforementioned documents must be submitted to the Gaming Control Authority via registered mail or email (in digital format). Receiving the final decision may require up to 30 days.
Licences issued by the Gaming Control Authority may be revoked if:
- Following a warning about a possible cancellation of their licence, a company fails to eliminate the violations of licensing conditions in their activity
- A company is accused of providing false data to obtain a gambling licence
- A company is liquidated or otherwise ceases to operate
- A company submits a cancellation request
Company in Lithuania UAB is a team of competent and experienced professionals who will provide legal guidance necessary for obtaining and maintaining a gambling licence in Lithuania. Contact us to schedule an initial meeting and escalate your business idea with confidence.