Mongolia

Starting a Business in

Mongolia

Listed below is a detailed summary of the bureaucratic and legal hurdles an entrepreneur must overcome in order to incorporate and register a new firm, along with their associated time and set-up costs.  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 (GNI).

The information appearing on this page 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 183 economies. The most recent round of data collection for the project was completed in June 2011.

  • Standardized Company

  • Legal Form: Limited Liability Company (HHK)
  • City: Ulan Bator

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No. Procedure Time to Complete Associated Costs
1 Check name for uniqueness 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. The entrepreneur opens a temporary account at the bank 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 Deposit capital in a temporary account and obtain a proof; pay the registration fee


1 day no charge
3 Notarize the statutes and charters of the company; notarize the schedule showing the equity share held by each partner

The new Law on State Registration of Legal Entities requires that the decision to found the company and its charter to be either originals or notarized copies. Under Resolution No.147 of 1997 of the Minister of Justice and Internal Affairs, notary fees to certify incorporation documents are MNT 3,000. If the shareholders want to notarize the other documents, notary fees are MNT 10,000 or higher. It is common practice for documents to be notarized to prevent future shareholder disputes.
1 day MNT 10,000
4 Register at the State Registration Office, under the General Department of State Taxation

By registering at the State Registration Office, 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 legal time limit is 5 days (Law on State Registration of Legal Entities of May 23, 2003).

6 days MNT 22,000
5 Register at local Tax Office

After the account is opened, an officer of the State Registration Office will assign a company registration number and give the applicant approval to register with the relevant district tax office, which will open a file for the new company. Henceforth, one tax officer will be responsible this company (for example, serving as a point-of contact for submission of financial reports). The district tax office registers the company based on the letter issued by State Registration Office.
2 days MNT 2,000
6 Apply for social security with the Social Insurance Department


1 day no charge
7 Make a seal


1 day MNT 46,000 rush delivery fee
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