- The establishment process for a new company starts by applying for verify and reserve a unique company name in GASR.
- Open a bank account in any banks of the country.
- Also, proof of equity is required for the registration, which is to be submitted along with other required documents to GASR. Once application process is successful, company registration certificate is issued.
- Obtain the unique seal number
- Afterwards, the usual step would be to register the company to MTA for tax compliance, and local agency of MOF for financial statements.
- Apply for Social Security Code
- Make a seal
- Register for VAT
Company registration: In Mongolia, the foreign investors who want to conduct trading activities usually establish the foreign-invested Limited Liability Company.(LLC) and the minimum share capital requirement for LLC is 100,000 US$.
Opening a bank account: We can open an account with any local bank upon establishing the LLC in Mongolia and will assist with opening of bank account for free in the case of hiring our company for company registration.
The costs of our services:
We charge the amount of 2,100$ for registration services of foreign invested LLC, which comprises A-Z activities, starting from the preparation and receipt of required documents from you and up to handing over to you of Certificate of Incorporation, inclusive of all concerned state stamp fees.
The advance payment of 50% shall be done upon signing on-line agreement with client and the final payment of 50% – upon completion of a procedure.
There are included in the fee:
- Finding, checking the availability and reservation fee for the new company’s name
- State registration fee for foreign invested company
- Preparation of documents in English or Russian language upon consultations with you and their translation into Mongolian
- Opening of temporary bank account
- Daily Communications with you for clarification of every issue
- Finding the office for you and making contract on your behalf – the address will serve as registration address of new company
- Every other advice and suggestions, related to company registration, the best ways of operating in Mongolia.
Time frame: It takes Mongolian registration authority around 10 working days to register and issue the Certificate of Registration upon submission of all Registration documents.
As for the preparation for registration and getting ready documents, it depends on how fast client will understand the situation in Mongolia and make his final decisions, based on our mutual communication. If client is well prepared, we can finish the preparations within couple of weeks and sometimes it would take even more than 1 month.
I believe that if your Chinese client can speak and write in English and/or Russian or if you will take care of a matter on his behalf, we will manage to complete the whole Registration in 1 month time
