- Setting Up a Business…
Establishment of Limited Liability Company or Joint-Stock Company with a Foreign Investment
Key Steps of Incorporation a New Company in Mongolia
Below are key steps of incorporation a new company in Mongolia:
1. Check availability and register the company name at Legal Entities Registration Office, General Authority for State Registration
A legal representative that has the right to register company under a certain name can submit either in person or online. The company must be formally registered within 30 days after obtaining its name. The following relevant documentation must be submitted:
Duration: Please allow one business day to processing documentation.
Cost: A fee of MNT 500 ($0.14) is applicable.
2. Opening a bank account in Mongolia
A bank account is mandatory for registering a company. Accounts of any commercial banks are applicable.
Required time: please allow one business day for processing.
Cost: Free of charge
Required materials: This varies depending on the bank in question, but expect to have the following documents prepared, either in original copy or notarized copy:
3. Registering a company with foreign investment:
A company must be registered to the registration office within 30 days of name confirmation. The following documents are required for registration:
4. The following documents are required to extend the duration of operations of a company with foreign investment.
Additionally, the establishment of companies is available online. Log in to the “e-Mongolia” system, go to the “ESTABLISHMENT OF A LEGAL ENTITY” section from the “HELP TO CREATE A BUSINESS” menu, and get a set of services and information on the establishment of a legal entity. These include: