MIRRASIA  BUSINESS  ADVISORY

Mongolia Incorporation Guide

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Establishment Procedure:
1. Submission of documents required for incorporation and payment of expenses
2. Company name inquiry and availability check
3. Incorporation in progress
4. Issuance of business registration certificate
5. Company seal production and registration (750,000 tugrik; about CNY2,000)
6. Opening a corporate account

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required documents:
1. Registration of application for incorporation
2. Confirmation of availability of corporate name 
3. (In the case of corporate shareholders) Resolution of the board of directors on establishment of a Mongolian corporation 
   (In the case of two or more individual shareholders) Prepare a corporation incorporation agreement
 

4. (In the case of individual shareholders) Copy of passport + notarized embassy (Chinese or Mongolian language) as proof of address + Fill out investor application 
   (In the case of corporate shareholders) Certificate of corporate existence

   (Notarized translation of embassy: business registration certificate, certified copy of register)  (For reference: a translated version of the business proof)
 

5. Confirmation of bank balance (Proof of ability to pay investment)
   *The minimum investment amount for foreign investors is USD 10,000 per person (or foreign exchange equivalent)
   (Example: USD 20,000 for 2 foreign investors; USD 30,000 for 3 people)

6. Prepare three copies of Mongolian Articles of Incorporation (in Mongolian). (Extra charge for translation service)
7. Required: Mongolia business address (due diligence and check the lease agreement)  

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Required time: 1-2 months after submitting documents

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Cost: CNY 15,000 (including fees)
*Extra charge for accounting, tax, and secretarial services

** The above procedures and costs are a rough guide to the establishment of a corporation, and may vary depending on the shareholder/director, industry/business type, business area, etc.

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** The above cost does not include the amount for opening a corporate account, and if you need to provide arrangement, opening, and advice in opening a corporate account, you may incur a cost of CNY5,000.