diff --git a/electrum/__init__.py b/electrum/__init__.py
index c4088d53a..8bafda636 100644
--- a/electrum/__init__.py
+++ b/electrum/__init__.py
@@ -1,3 +1,16 @@
+import sys
+import os
+
+# these are ~duplicated from run_electrum:
+is_bundle = getattr(sys, 'frozen', False)
+is_local = not is_bundle and os.path.exists(os.path.join(os.path.dirname(os.path.dirname(__file__)), "electrum.desktop"))
+
+# when running from source, on Windows, also search for DLLs in inner 'electrum' folder
+if is_local and os.name == 'nt':
+    if hasattr(os, 'add_dll_directory'):  # requires python 3.8+
+        os.add_dll_directory(os.path.dirname(__file__))
+
+
 from .version import ELECTRUM_VERSION
 from .util import format_satoshis
 from .wallet import Wallet
diff --git a/run_electrum b/run_electrum
index dc9713024..e7f6a29b9 100755
--- a/run_electrum
+++ b/run_electrum
@@ -51,12 +51,6 @@ os.environ['KIVY_DATA_DIR'] = os.path.abspath(os.path.dirname(__file__)) + '/ele
 if is_local or is_android:
     sys.path.insert(0, os.path.join(script_dir, 'packages'))
 
-# when running from source, on Windows, also search for DLLs in inner 'electrum' folder
-if is_local and os.name == 'nt':
-    dll_dir = os.path.join(os.path.dirname(__file__), 'electrum')
-    if hasattr(os, 'add_dll_directory'):  # requires python 3.8+
-        os.add_dll_directory(dll_dir)
-
 
 def check_imports():
     # pure-python dependencies need to be imported here for pyinstaller