Types of enterprise
- Limited liability company (LLC) and Joint Stock Company
Foreign investor is eligible to set up an enterprise of this type only. Limited liability company (LLC) and Joint Stock Company is a company that was incorporated under the laws of Mongolia, and it`s 25 percent or more shares are owned by the foreign investor and the amount of investment of each foreign investors is more than 100000 USD, or the equivalent amount of tugriks.
- A representative office of a foreign legal entity
A representative office shall not be deemed a legal entity. It is prohibited for a representative office to carry out any commercial activities for the profit earning purpose within the territory of Mongolia
Granting a name permission
The name of a company with foreign investment cannot clash with the names registered in Mongolia, so that it will not cause any confusion. Prior to company incorporation, an entity shall obtain the verification certificate from General Authority of State Registration, where the name shall be printed in Cyrillic.
Documents required for obtaining name verification certificate:
- Original copy of ID of an incorporator
- If foreigner, original copy of the passport
- Obtainable via Power of Attorney /accreditation is applicable by original copy of an ID or passport/
- Document processing fee 500 MNT needs to be remitted to GolomtBank-1401001101