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Company Formation Mongolia

Updated on Wednesday 09th May 2018

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Mongolia's economy has primarily been based on livestock and agriculture, but also on mineral reserves, such as coal, gold or copper which form a big part of the industrial production. Due to the fact that in recent years the market has started to recover, many foreign investors choose to set up companies in Mongolia. For further information and counselling in the process of starting a business in this country, do not hesitate to contact our agents.

Types of legal entities in Mongolia

In order to establish a company in Mongolia a foreign investor must firstly choose a legal structure. The main types of companies available in this country are: the limited liability company (LLC), the open or closed joint stock company (JSC), partnerships. The foreign entrepreneur can also decide on creating a representative office or a branch one for a parent-company overseas; these are structures that are not allowed to operate commercial activities.
The requirements for opening a limited liability company, which is the most chosen type of company in Mongolia, are as follows:

  • minimum one shareholder;
  • at least one director;
  • a minimum share capital of 100,000$.


Company registration steps in Mongolia

1. Firstly, you need to choose a name for your company and reserve it, after you have checked its uniqueness at the LERO (Legal Entities Registration Office).
2. The second step of a company registration process in Mongolia is paying the registration fee at a commercial bank.
3. Then you have to register your company as a tax payer, a procedure that is also done at LERO.
4. In order to incorporate your company in Mongolia you will need to submit several documents at LERO and some of these are: an application form, the company's charter, receipts of the registration fee, copies of the IDs of the shareholders, etc. For more information about the necessary papers or other procedures, our company formation specialists are at your disposal. 
5. You also need to apply for a Social Security Code at the District Social Insurance Department. 
6. Last, but not least, for a company formation process in Mongolia, your company must acquire a seal request from LERO and ultimately make a seal. For this step you need to submit a copy of the company's state registration certificate.
The company registration process in Mongolia cannot take more than a few weeks. When forming a company in Mongolia you should ask a team of company incorporation specialists for advice. Thus, feel free to ask our agents for counsel, as they have an extensive experience in establishing other types of business entities as well, in Mongolia or in other countries of the world.


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