Mongolia

Starting a Business in

Mongolia

Below is a detailed summary of the bureaucratic and legal hurdles faced by entrepreneurs wishing to incorporate and register a new firm in Mongolia. It examines the procedures, time and cost involved in launching a commercial or industrial firm with up to 50 employees and start-up capital of 10 times the economy's per-capita gross national income.

This information was collected as part of the Doing Business project, which measures and compares regulations relevant to the life cycle of a small- to medium-sized domestic business in 189 economies. The most recent round of data collection was completed in June 2013.

Compare Mongolia to 188 other economies.

  • Standardized Company

  • Legal Form: Limited Liability Company (HHK)
  • Paid in Minimum Capital Requirement: None
  • City: Ulan Bator
No. Procedure Time to Complete Associated Costs
1 Check the uniqueness of company name at the State Registration Department of the Tax Authority

Once the name has been checked, the State Registration Office gives the entrepreneur a card authorizing him or her to open a bank account within the same office. The entrepreneur opens a temporary account at the bank within the same office and, at the same time, can instruct the bank to make a payment to the account of the Tax Authority.
1 day MNT 500
2 Pay the registration fee


1 day no charge
3 Register at the State Registration Office, under the General Department of State Taxation

By registering at GASR Legal Entity Registration Department, the company also registers for VAT and corporate income tax. The Registry automatically publishes a notice of company formation. The Registry issues a letter of approval to open bank accounts. The stamp fee is TG 22,000.

Starting from Feb. 27 2013, GASR prepares periodic updates of new registrations and provides them to GDT, which updates its own records without the need for involvement by the new business.

Required documents and other information for LLC registration:

1. Application for registration of legal entity in state registry (Form UB-03) - 3 copies
2. Name verification slip for legal entity (Form UB-09)
3. Founder’s decision to establish a new legal entity - 2 copies. For a legal entity with more than one member, meeting minutes and decision from the founders meeting are required.
4. Articles of association of the legal entity - 3 copies)
5. Notice to open bank account of a legal entity (Form UB-10)
6. Payment receipt for a stamp fee for state registration
7. ID copies of founder(s) - 2 copies
8. Beginning balance sheet - 2 copies
9. Other relevant documents (payment receipts, list of assets, lease agreement when applicable)

Other related information:
• If there are more than one founder, founders’ meeting minutes and decision from the founders meeting are required.
• For business activities that require licenses must be registered first and update registration information after obtaining licenses from respective authorities.
• If equity is non-financial asset, list of assets (if above Tg 5 million, the asset has to be evaluated by the Property evaluation agency) and if financial, the receipt of cash transfer to legal entity’s bank account is required.
• The address for a legal entity can be the founder’s residential address. If the property is in applicant’s possession, a copy of property title and if the property is rented, a lease agreement (a notarized copy is required if the lease is signed with an individual and a signed and stamped copy is required if the lease is signed with a legal entity) is required.
• Form UB 03, founder’s decisions, meeting minutes, decisions from founder’s meetings, and articles of association have to be signed by founder(s).
• A slip to open a bank account should be picked up from the Service windows # 1 and 2 and open a bank account at any bank.


7 days MNT 22,000
4 Apply for social security with the Social Insurance Department

Registration for social security with the social insurance department at the district is free (There is no regulated fee/payment for registration with social insurance office).
Even though it is free of charge, the cost to pay for Social Insurance Certificate (paper certificate) for the legal entity is MNT5000.
1 day no charge
5 Make a seal


1 day MNT 46,000 rush delivery fee

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