Category: Chinese Cooperation

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Wechat Pay Service

Introduction

China’s number one payment and digital wallet service by Tencent Holdings Limited’s WECHAT PAY international payment system, introduced in 64 countries, has been officially launched in Mongolia. Mongolia has become the 65th country to introduce WECHAT PAY, and the Mongolian currency MNT is the 25th supported currency of the WECHAT PAY system.

The Transport Development Bank is allowing Chinese tourists and businesses and Mongolian Businesses great opportunities to perform payments and receive payments via WeChat in Mongolia with the cooperation of the “KKTT” LLC that provides Qpay services.

In 2011, Wechat was Launched in China is currently the most widely used application and ranks fifth in the world in terms of active user numbers.

With the official system access in Mongolia, Chinese citizens will be able to make the following payments in Mongolia.

  1. Scan to Pay – Wechat users make transactions via static QR scans
  2. Scan to Pay – Wechat users make transactions via dynamic QR scans
  3. In-App Pay – The deep link for the invoice and Mini Program Pay for payment will be available on the Merchant application soon.
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Wechat Pay Service

A guideline to becoming the Merchant

  1. If you want to become a merchant, open an MNT current account at any of the Transport and Development Bank branch that is nearest to you;
  2. Making a merchant agreement;
  3. To make a system connection, obtain the API key from “KKTT” LLC
  4. Duration for a payment to be credited: The settlement date is T+1 day after the transaction.
  5. Transaction Fee: Hence it is an international transaction, transaction fees are 2%
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Wechat Pay Service

FAQs

Question: How do customers register as a merchant of WeChat?

Answer:

Hello Dear Customer, Business entities and individuals providing services in Mongolia are able to receive WeChat Pay and if would like to join as a merchant:

To open an MNT current account at any of the Transport and Development Bank;

You can register as a merchant by filling out a WeChat Pay agreement and form provided by a customer service representative at any of the Transport and Development Bank branches.

Question: Would it be possible to connect your MNT account directly?

Answer:

Hello Dear Customer. Yes, hence the tugrik MNT current account is opened, and the transaction will be credited directly to the tugrik MNT account.

Question: Is it possible to transfer CNY from Mongolia to China?

Answer:

Currently, it is unavailable to make a transaction from Mongolia to China via WeChat Pay, and only possible to receive payments from China.

Question: Can Mongolian citizens connect their cards to WeChat pay?

Answer:

Hello Dear Customer. Unfortunately, according to WeChat Pay regulations, Mongolian citizens are not able to make card transactions.

Question: What is the merchant fee? How is the exchange rate difference determined?

Answer:

As for the exchange rate, it will be credited to the customer’s MNT account at the Transport and Development Bank based on the spot exchange rate provided by Wechat.

Question: How long does it take for WeChat Pay to approve the merchant agreement? When to be able to receive the QR code?

Answer: Once the Merchant signs a WeChat Pay service agreement, once WeChat approves, connect to a QR code and issue a merchant’s QR code within 2-3 working days.

Categories
Wechat Pay Service

Download the brochure

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Translation of relevant law Translation of the law

Please read the relevant legal provisions.

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Apostille certificate

APPOSTIL CERTIFICATES CAN BE APPLIED AT THE CONSULAR OFFICE FOR THE FOLLOWING DOCUMENTS.

  1. All types of civil registration certificates, including ID cards, passports, birth and marriage certificates,
  2. Civil registration and police reference
  3. Certificate of education at all levels
  4. Court and prosecutor’s decision
  5. Other documents issued by the state administration
  6. The submitted documents must be translated into a language used in the country by a certified translation agency and notarized by Mongolia.
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Apostille certificate

Things to consider when compiling an Apostille certificate:

1. The original personal copy of the document shall be notarized.
2. The submitted documents shall be translated into the language used in the country by a certified translation agency and notarized by Mongolia.
3. The application form for the Apostille certificate must be completed.
4. Please note that another copy of the Apostille Certificate must be attached to this form.
5. Attach proof of payment of Apostille certificate fee.

DOWNLOAD APOSTIL CERTIFICATE FORM

Apostille certificate fee total 22,500 MNT / pay to the account below /

Stamp fee for Apostille certificate: 20,000 MNT, Account: 102100001715, State Bank, Recipient: Ministry of Foreign Affairs

Payment for Apostille certificate securities: 2,500 MNT, Account: 100900016401, Treasury, Recipient: Ministry of Foreign Affairs

– Payment can be made at the “Gerege Kiosk” located in the service hall of the Consulate.

Documents used in countries where the Apostille Certificate is not permitted shall be certified by the Consulate.

Note:

1. If the confirmation document is

– a diploma of higher education is a certificate from the graduate school confirming its authenticity,

– Vocational education certificate or high school diploma must be certified by the relevant state or district education department, certified by a translation agency in a language used in the country and notarized.

2. The Apostille certificate shall be issued 3 working days after the date of submission of the materials.

3.Documents certified by a notary shall be legible, unedited, and the signature and seal shall be clearly visible.

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Labor relations

Preliminary employment permit or INVITATION

  1. The official number of the entity that completed Form 1
  2. Receipt of payment of service fee (MNT 25,000 / per person, Treasury, Social Welfare Department 100900017002 account)
  3. A copy of the state registration certificate of the enterprise
  4. Certificate of license and a copy of its annex
  5. A copy of the government if exempted from quota by government decree
  6. Social Insurance Forms ND-7 and ND-8 for the last month confirming how many employees pay social insurance premiums to the organization
  7. Reference from the Ministry and agency of the employment sector
  8. Proposals from the Labor and Welfare Service Departments and Divisions of the respective state and districts
  9. Employment agreement with a foreign legal entity and its translation into Mongolian (with a stamp certified by a translation agency)
  10. Copy of foreign passport
  11. Copies of professional diplomas and certificates proving university graduation in the field of foreign employment (stamped by the translation agency)
  12. Bring the following materials:

Form-1
UAMAT-08
Form-5
Form-5
Form-6
Form-7

Download link to the form: Урилга (hudulmur-halamj.gov.mn)

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Labor relations

EMPLOYMENT LICENSE

  1. Official letter from the enterprise inviting foreign workers and specialists with “HG” visas from abroad within 10 working days after entering the country and filling out the Form 2 in detail “Requesting a work permit”
  2. Receipt of payment for service fee (MNT 22,500 / per person, Treasury, LSWA account 100900017002)
  3. Receipt of payment for work place (640000 MNT/ per person / month, Treasury, account 100900037010), Note: The relevant fee will be paid to the specialist after checking the materials. (From January 1, 2020, the salary will be changed to MNT 840,000 / per person / month)
  4. Receipt of price for ‘Work permit in Mongolia’ (3000 MNT / per person, Treasury, Department of Social Welfare and Labor 100900017002), 1 photocopy of the certificate of employment (requirement: size 3 × 4 cm, blue background, last Must be taken within 6 months, clear)
  5. A copy of the state registration certificate of the enterprise
  6. Certificate of license and a copy of its annex
  7. A copy of the government if exempted from quota by government decree
  8. A copy of the foreigner’s passport and a stamped page on the HG visa
  9. Conclusion of medical examination in accordance with the form approved by the joint order of the Minister of Health and Labor, the conclusion should be legible and stamped)

Download link: Permission (hudulmur-halamj.gov.mn)

Categories
Labor relations

EXTENSION OF WORK PERMIT

  1. Official letter completed in accordance with Form 3, detailing the need for the enterprise to continue to employ foreign workers and specialists
  2. Receipt of payment of service fee (MNT 22,500 / per person, Treasury, Social Welfare Department 100900017002 account)
  3. Receipt of payment for the extended period of work (640,000 MNT / per person / month, Treasury, FES account 100900037010), Note: The relevant fee will be paid to the specialist after checking the materials. (From January 1, 2020, the salary will be changed to MNT 840,000 / per person / month)
  4. ‘Work permit in Mongolia’ will be renewed. (3000 MNT / per person, Treasury, Social Welfare Department 100900017002 account). If the renewal period is over, the license will be reissued. 1 copy of the ID card (Requirement: size 3 × 4 cm; blue background, taken within the last 6 months, clear)
  5. A copy of the state registration certificate of the enterprise
  6. Certificate of license and a copy of its annex
  7. Copy of residence permit
  8. A copy of the government if exempted from quota by government decree
  9. Social Insurance Forms ND-7 and ND-8 for the last month confirming the number of employees who pay social insurance premiums in the organization
  10. Employment contract concluded with a foreign legal entity and its translation into Mongolian (Requirements: Employment contract must be extended, certified by a translation agency)
  11. Copy of foreign passport (with HG visa stamp)
  12. If the length of service in Mongolia is more than 6 months, repeat the HIV test, and if it is more than 1 year, repeat the 5 types of tests. cover letter.

Download link to the form – Extension (hudulmur-halamj.gov.mn)

  1. Reference from the Ministry and employment sector / Note: Applicable only to the Education sector /
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Labor relations

WITHDRAW OF WORK PERMIT

  1. Official letter from the enterprise filling out the Form-4 “On deregistration of the GEF”
  2. Receipt of payment of service fee (12000 MNT / per person, Treasury, Social Welfare Department 100900017002 account)
  3. A copy of the state registration certificate of the enterprise
  4. Copied on the front of the A4 size paper with the passport of the foreign citizen and the page with the stamp of “HG” visa, the original copy of the “Work permit issued in Mongolia” issued by the Social Welfare Department and the “Residence permit issued in Mongolia” issued by the Customs Office must be accompanied by an extended copy of
  5. Other materials as needed
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Investment

Tax related support for investors

Investment agreement An investment of more than 500 billion MNT
Stabilization certificate VAT, Corporate income tax, Custom Duty, Mineral resource royalty
Free economic zones Exempt from taxes for the first 5 years
Small and medium enterprises  

 

Imported machinery and equipment may be exempted from customs duties during the construction period and value-added tax may be imposed at a rate of up to ‘0’ in the following cases:

  • Construction of a factories that produce oil, construction materials, products for export (export products) and those that engage agricultural processing activities;
  • Construction of factories that engage in production of nano, bio and innovative technologies;
  • Construction of power plants and railways.

 

 

Categories
Investment

Non-tax related support for investors

Non-tax related support for investors can be provided in the following ways. Those include:

  1. Lease a land under contractual terms up to 60 years. Extend the contract up to 40 years under the same terms once after the end of the first contractual term;
  2. To support investors operating in non-free zones, industrial and technology parks, and to provide registration and inspection procedures on concessional basis;
  3. To support the implementation of infrastructure, industrial, scientific and educational development projects, increase the number and quantity of foreign labor and specialists, exempt from job fees, and issue relevant permits on a concessional basis;
  4. Support the financing of innovation projects and provide guarantees for financing the production of export-oriented innovative products;;
  5. Issuance of multiple entry visas and permanent residence permits in accordance to the relevant Laws to foreign investors who have invested in Mongolia;
  6. Other promotions specified in the applicable Laws.
Categories
Finance and Tax

Registration of Representative office

  • Registration of taxpayers, making amendments and removal.
  • An entity covered by Article 6 of the Corporate Income Tax Law shall submit the following documents 10 days prior to the commencement of operations and submit an application for registration as a taxpayer to the tax administration electronically or on paper:
  • An application form for taxpayer registration
  • Resolution of a foreign business entity establishing a representative office in Mongolia, stating the operational areas, duration, name of management team and number of employees;
  • Tax-resident certificate
  • Documents proving the registration of the parent company as a legal entity /copy /, copy of company charter;
  • A copy of the agreement concluded with a Mongolian entity proving the income source is originated from Mongolia
  • Evidence of address and location of the representative office
  • Resolution and power of attorney appointing the head of the representative office;
  • Copies of the application form and documents of the representative office /if the management is a Mongolian citizen, a copy of the ID card is required, if the management if foreign citizen,  a temporary ID card registered with the Foreign Citizenship Office and a copy of the passport is required/;
  • Beginning financial statement of Representative office
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License to provide consulting services for roads and road facilities

Required materials

  1. Applicant information
  2. Application for the related type of work involved
  3. Management information
  4. Engineer and technician information
  5. List of machinery and equipment
  6. Production base and site information
  7. Once the application has been received, the Working Group may request other documents during the review process.
  8. Equipment and tools must meet the technological components, quantity and use requirements for the work, and at least 60% of the total machinery and equipment shall be the asset of the applicant.

 

An application is reviewed and resolved within 21 working days from the date of receipt of the documents from the in accordance with Article 12 of the Law on Licensing of Business Activities.