Romania To Offer Regulated Online Gambling Soon

Published Saturday, May 09, 2015 - Online-Casinos.com
Romania To Offer Regulated Online Gambling Soon

Romania has been struggling with the renewal of laws governing gambling for some time now but has recently moved forward with the plenary Chamber of Deputies adopting of the draft law amending and approving bill GEO 92/2014 which is the emergency ordinance to introduce fundamental changes in remote gambling.

The draft law will change a number of requirements to obtain an online gambling licence and authorisation and then it will provide a requirement list for an online gaming transitory period. Before the amended law is implemented the draft law will  be sent to the President of Romania for final approval. After the likely approval by the President the law will come into effect once it has been published within three days. Romania will officially in the market place of fully regulated European online gambling industry. Gambling activities may be conducted in the Romanian jurisdiction not only by Romanian legally sanctioned  entities, but also by operators headquartered within a European Union Member State or in Norway, Iceland, Liechtenstein or the Swiss Confederation with the amended internet gaming law.

Head of intellectual property at Romanian law firm NNDKP, Ana-Maria Baciu said, "After a wait that lasted more than six years, the Romanian online gambling market has finally opened for foreign operators. We will now have to wait and see who will be willing to pay the envisaged back tax, and then time will tell whether the investment - in both time and money - will have been worth it."Some of the points mentioned in the amendments are for example the servers for online betting may be located anywhere in the EU but the operators will also be required to have a safe and mirror server that must be located in Romanian jurisdiction. The gambling authority is also considering regulating a retrospective tax for firms operating in Romania without a proper licence.

 

 

Related news

Return to Latest News