To establish a limited liability company (LLC) in Mongolia

Documentation required

Recommendation 

Application UB-03, UB-13 form

Download from http://burtgel.gov.mn/service/index.php/les-newlist/download

Obtaining a company name

The founder(s) or an authorized representative acting under a Power of Attorney shall obtain the name of a LLC from the State Registration Authority by physically visiting or by online request. 

https://www1.e-mongolia.mn/

The company name shall meet the following requirements:

• not duplicate other companies’ name; and

• be in Cyrillic letters.

When an LLC obtains its name, the founders shall establish the company within 30 days. Otherwise, the verification sheet on the company name will expire in 30 days. Extension will done with additional fee. 

Payment receipt of service fee

• Name verification service fee is 10,000 MNT
• Receipt deposited in Golomt Bank account 1401001101

 /Government Resolution No. 30230 of December 23, 2020/

• Stamp fee is 44,000 MNT

 Receipt deposited in Golomt Bank account 1401002649

 / Article 15.1.1 of the Law on State Stamp Duty /

• Service fee for issuing stamp and stamp control number 10,000 MNT

Receipt deposited in Golomt Bank account 1401001101

 / Annex to the Government Resolution №230 of 2020 /

Founder’s decision / resolution /,

 1 copy

When an LLC obtains its name, the founders shall establish the company within 30 days.

 – Establishment of a company

 – Address, telephone, operational activities, / activities not required special license/

 – Share capital, face value and number of shares,

 – Selection of the CEO and provide his/her name, and registration number (the founder may also be the CEO)

 – The company’s charter must be approved as an appendix

– Decisions and resolutions shall be signed by the founders. 

If the founder of a company is a legal entity:

 – A decision (resolution) to establish a subsidiary (affiliate) company shall be made, signed and certified by the shareholders. A copy of the parent company’s certificate and charter shall be provided.

If the founder of a company is a foreign citizen:

A copy of the passport shall be provided if the authorized person, such as the founder, CEO or board member, is a foreign citizen.

There is no upper or lower limit on the amount of funds deposited in a company’s account