Register a Company in Mongolia

Register a Company in Mongolia In today’s globalized business environment, an increasing number of Chinese companies are considering expanding their operations overseas, with
Mongolia attracting considerable interest as a potential market. However, establishing a foreign-invested enterprise in Mongolia is difficult. Chinese companies must prepare a large amount of information and documents during the process to ensure the legality and smooth operation of the

There are 4 types of companies registered in Mongolia: Limited Liability Company (LLC), Foreign Invested Limited Liability Company (FILC), Joint Stock Company (JSC) or Branch Office, and each has its own specific purpose. For more information, please contact 3E Accounting.

To begin, obtaining a company name in Mongolia is required, provided that it does not duplicate the name of another company and that it uses the Cyrillic alphabet.

The applicant must establish the company within 30 days after obtaining the company name. The company name verification form will expire after 30 days if it is not used. Before submitting the official documents, the applicant can open a temporary account at any commercial bank in Mongolia, and the Chinese company must make remittances to the temporary account through a Chinese bank account in accordance with the Foreign Exchange Administration’s approved investment amount.

Each foreign investor must deposit $100,000, while two foreign investors must deposit $200,000, and so on.
Following that, the company can declare the foreign investment company’s registration with the remittance voucher and relevant documents.

The Documents Required to Register a Company With the State Registration Office of Mongolia Are as Follows:

Application form (Form UB-12).
Company name verification form.
Articles of Incorporation and Shareholders Agreement: Articles of Incorporation – 2 copies in Mongolian language and 1 translated copy, Shareholders Agreement – 1 official translated copy
The Chinese company will also need to produce a board resolution specifying the authorized representatives to travel to Mongolia to register the company, which will indicate the business scope of the company and the amount of the capital injection.
Minutes of the company founders’ meeting and its Mongolian translation.
If the founder is a legal person, a copy of the company registration/certificate of incorporation and a brief company profile.
Bank remittance receipts/start-up investment threshold of USD 100,000 per foreign investor
A copy of the office lease agreement confirming the company’s address
A copy of the passport of the executive director
Receipt of payment of State Stamp Duty for the establishment of a foreign invested limited liability company in the amount of MNT 750,000 or approximately USD 239

After the company is registered, its representative shall register with the relevant tax authorities within 14 days and submit the following documents in accordance with the relevant laws and regulations:

Application form.
The original and a copy of the certificate of state registration; and
Original and copy of the Articles of Association.

3E Accounting is Your Most Reliable Partner for Establishing a Mongolian Company

There are a few key things that require special attention after the company has been successfully registered. To begin, it is critical to ensure that the lease for the office space is completed and that any business license-related information is updated as needed. Second, the company should hire a local professional financial accountant who will oversee submitting regular returns to the tax and social security offices as well as timely payment of applicable taxes.

In day-to-day operations, the company must strictly adhere to employee labour procedures in order to protect employees’ rights and interests, and it must ensure that employee visas are legal and valid in order to avoid unnecessary legal disputes in operations. Furthermore, the company must strictly adhere to tax regulations for declaration and payment to ensure compliance with local tax regulations.

To summarize, a Chinese company establishing a foreign-invested company in Mongolia will need to prepare lengthy documents and strictly adhere to Mongolian regulations to ensure that the company operates in a compliant manner. Furthermore, the company should focus on tax and human resource management to ensure the company’s successful development in Mongolia. That is why 3E Accounting will be your most dependable partner in resolving all your issues. Please contact us for more information.