Ukraine is poised to authorize both land-based and online gambling after a six-year period in which both activities were strictly illegal.

On Tuesday, the Ministry of Finance posted the draft of a bill to legalize land-based casinos, sports betting and a single lottery, as well as online gambling sites. The bill calls for the creation of a national gambling regulator that will report to the Ministry of Finance.

To qualify for a new Ukrainian gambling license, companies must be based in the Ukraine and must demonstrate that they have at least €2m of their own capital apart from any borrowed funds. They may need a lot more than that given the combination of taxes and fees they’ll be asked to pay.

Land-based casinos will be subject to various restrictions on the number of gaming tables and electronic gaming machines they can offer, as well as minimum hiring requirements. Land-based casino operators will be subject to an annual license fee of €300k in cities of less than 500k residents, €600k in cities with over 500k residents and €1m for a casino in the capital Kiev. Online casino operators will be dinged €1.5m per year.