Registering a company in Mongolia is a step-by-step process that involves selecting a company type, choosing a name, preparing documentation, and registering with the Mongolian State Registration Agency and Mongolian Tax Administration. By following this guide and utilizing the provided resources, you should be well on your way to successfully establishing your business in Mongolia. Adhering to the requirements and guidelines will help to ensure a smooth registration process and a successful start for your company in this dynamic and growing market.
Step 1: Choose your company type
The first step in registering a company in Mongolia is to choose the type of company you want to register. The most common types are:
- Limited Liability Company (LLC)
- Joint Stock Company (JSC)
- Representative office of a foreign company
Step 2: Choose a company name
Before registering your company, you'll need to choose a suitable name. The Mongolian State Registration Agency has guidelines for acceptable names, which can be found at this link: http://burtgel.gov.mn/
Step 3: Prepare the required documents
Next, prepare the necessary documentation for your chosen company type. The key documents are:
- Articles of Association (for LLC and JSC)
- Application for Company Registration (for all types)
These forms can be downloaded from the State Registration Agency's website: http://burtgel.gov.mn/
Step 4: Identify company officers and shareholders
You will need to identify at least one director (for LLC and JSC) or one representative (for Representative office of a foreign company). Directors or representatives must be at least 18 years old. Shareholders can be individuals or corporate entities.
Step 5: Capital requirements
Mongolia requires a minimum capital of MNT 1,000,000 (approximately $350) for LLCs, and no minimum capital for JSCs and representative offices of foreign companies.
Step 6: Register your company
Once your documents are ready, you can submit your application to the Mongolian State Registration Agency. This can be done in person at their office or online via the following link: http://burtgel.gov.mn/
The fees for registering a company are as follows:
- LLC: MNT 50,000 (approximately $17)
- JSC: MNT 100,000 (approximately $34)
- Representative office of a foreign company: MNT 100,000 (approximately $34)
Step 7: Register for taxes
After your company is registered, you must register for taxes with the Mongolian Tax Administration. This can be done in person at the local Tax Office or online via the following link: http://www.mta.mn/
Step 8: Obtain necessary permits and licenses
Depending on your business activities, you may need to obtain additional permits or licenses. Check with the relevant authorities and industry regulators for specific requirements.
Time-frame:
The entire registration process, from preparing documents to receiving your Certificate of Incorporation, can take anywhere from 1 to 2 weeks, depending on the complexity of your application.
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