To establish a limited liability company (LLC) in Mongolia
Documentation required |
Recommendation |
|
1 |
Application UB-03, UB-13 form |
Download from http://burtgel.gov.mn/service/index.php/les-newlist/download |
2 |
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. 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. |
3 |
Payment receipt of service fee |
/Government Resolution No. 30230 of December 23, 2020/
Receipt deposited in Golomt Bank account 1401002649 / Article 15.1.1 of the Law on State Stamp Duty /
Receipt deposited in Golomt Bank account 1401001101 / Annex to the Government Resolution №230 of 2020 / |
4 |
Founder’s decision / resolution /, 1 copy
When an LLC obtains its name, the founders shall establish the company within 30 days. |
As for the resolution of the founders:
– 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. |
5 | Company charter /2 copies/ | It shall reflect Article 16.2 of the Company Law and signed by the founders. http://www.legalinfo.mn/law/details/310 |
6 | Proof of asset | Account statement with proof of funds in the account
There is no upper or lower limit on the amount of funds deposited in a company’s account |
AUTHORIZED PERSONS for the application:
- Executive management
- Founder
- An official authorized to represent without a power of attorney
- Other persons authorized by power of attorney