It is almost safe to say that any business that operates in Mongolia operates in Ulaanbaatar, therefore permanent representation is required in the city if the company is serious about doing business in Mongolia.
The city center is compact and most places are within walking distance, which means office locations in the city center is convenient and of high value. However, due to a decline in the economy from 2014 to 2016, its prices have decreased and its availability had increased. Traffic is of course expected in the city center, and unfortunately, it has been increasingly getting worse every year as vehicles are being imported almost without restrictions. Though many road expansion works are being implemented, a lot of the roads are blocked for it to happen. Other factors to consider are:
- Where your employees live and how they will commute to work (as public transport can be limited in some areas)
- Proximity to the airport
- Price and quality of hotel accommodation nearby
- Other amenities such as catering facilities
Some companies provide free lunch for their employees, but most Mongolians eat at canteens. Businesses outside the city often provide their staff with free bus service. It should also be noted when considering facilities and advantages that many expatriates regard Mongolia as a tough placement, and everything that can be done to minimize this perception helps attract and maintain valuable knowledge and experience.
Having good connections helps you locate premises and employees as well as having a helping hand in administrative matters such as opening bank accounts. The major banks often employ English speaking employees in their main branches, and some are specifically dedicated to serving international clients and business customers. Knowledge about the local area, competent business and legal advice are highly relevant. With the emergence of recruiting companies, private-sector recruiting has become increasingly transparent and open to newcomers. This can be particularly useful for those with looking for Mongolian individuals with a specific set of skills and experience. But it should also not be underestimated the ongoing value of personal contacts and recommendations.
