Registration of a Foreign Invested Company

Registration Procedure

  • Register your company name at State Registration Department. All names of registered companies are recorded in a database and before registering a new name, a check is done to ensure that the chosen name is not yet registered.
  • Apply to the Foreign Investment and Foreign Trade Agency (FIFTA) for a "Certificate of Foreign Invested Company". A list of documents will need to be submitted.
  • Bank confirmation of deposit of 100.000 USD in a temporary bank account in a Mongolian bank. Capital can also be contributed in form of equipment or real estate.
  • Obtain a State Registration Certificate for Official Legal Entities in Mongolia from the State Registration Office.
  • Obtain a seal from the State Seal Office.

Registration of a Foreign Invested Company

Registration Documents

  • Certificate of Foreign Invested Company

1) Investor’s business plan or feasibility study, addressing issues such as job creation, % of production amount to be exported, intended tax payments, equipment amounts. 2) Bank statement from a bank of the Investor’s home country. 3) New company statutes in the official language of the Investor’s home country, with Mongolian translation. The statutes should contain: investor’s share, size and structure of investment. 4) Passport copy for individual Investors or notarized copy of Investor’s Company Certificate in the case of investment by legal entity. 5) Notification from the State Registration Department of the new company’s official name.

6) Application letter to FIFTA requesting permission for creation of a new FIC in Mongolia.

  • State Registration Certificate

1) For cash-only registered capital, present a bank statement from a local bank. A commercial invoice and packing list are needed for registered equipment, and real estate certificates are necessary for real estate. 2) Completed form from the State Registration Office. 3) Notarized copy of FIFTA certificate and FIFTA permission. 4) Company statutes. 5) Leasing contract. 6) Application letter to the State Registration Department, requesting permission to establish a new FIC in Mongolia. 7) Beginning balance sheet.

  • Seal from the State Seal Office

State Registration Certificate

Registration of a Foreign Invested Company

Registration Costs

  • Registration fee at the FIFTA 900 USD.
  • Registration fee at the State Registration Office of Mongolia 50 USD.
  • State Treasury Fund 900 USD.
  • Company seal from the State Seal Office 100 USD.
  • Translation and Notary Costs:

Translation and notary cost about 400 USD depends on how many characters need to be translated and how many pages need to be notarized.

  • Our service fee

Remarks

  • No remarks

Registration of a Foreign Invested Company

Monthly, Quarterly and Yearly Reports

 

  • Monthly Reports

1) VAT Report

2) Social and Health Insurance Report

3) Personal Income Tax Report

 

  • Quarterly Reports

1) Financial Statements

2) Incorporate Tax Report

 

  • Annual Reports

1) Annual tax and financial statements report

2) Annual Auditing

 

Remarks

  • Death line for submitting the reports

All report needs to be introduced before the 20th of next month.

 

  • Our liabilities

We do provide all the services you need to have. We are a professional accounting and tax consulting company. We will defend your company interest during Tax inspections and any other possible control from authorities and we will bear full responsibilities for what we will be doing and prepare all the necessary documents for annual Auditing control.

Registration of a Foreign Invested Company

Remarks

The foreign investor can be a legal entity or a private person.

 

Amendment

  • Increasing/ Decreasing the Shareholders
  • Amendment regarding new activities
  • Amendment on company name
  • Amendment on equity fund
  • Annulment and Liquidation of investment by foreign-invested entity

Other Remarks

  • Your company certificate needs to be prolonged once a year in FIFTA.
  • Depending of your activities you may need special license.
  • As investor you can obtain one year residence permit which needs to be prolonged once a year.

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