Жарияланымдар

Tremendous mineral reserves, agricultural endowments, and proximity to Asia’s vast markets make Mongolia an attractive destination for medium- to long-term foreign direct investment (FDI).

New Constitution of Mongolia established a representative democracy after revolution from Socialist society to Democratic society which was adopted on January 13, 1992 and amended in 1999 and 2001.

Legal environment of Mongolia on Organizational confidentiality: Where the legal confidentiality environment is well established in a fairly competitive marketplace, business organizations are crucial in helping to build their own strengths, characteristics and colors.

Mongolia is one of the wealthiest countries in the world of mineral resources and has developed its own independent mining industry since 1990. The country has joined the implementation of European and international technical, environmental and occupational safety and health standards in the mining sector to improve its competitiveness in the public and private sector.

Parliament of Mongolia had adopted the Law on the Legal Status of Foreign Nationals on 08 July 2010. According to this law, the government has enacted appendixes of Resolution No145 on the Procedure of Issuance of Mongolian visa and Resolution No146 on Residence and Registration of foreign nationals in Mongolia in 2018 for regulating visa and residence permit related relations.

The Parliament of Mongolia adopted tax reform package including the General Tax Law, Law on Corporate income tax, Law on Value added tax and Law on Personal income tax which shall take effect on 1 January 2020.

The Government of Mongolia submitted a tax reform to the Parliament in 2018 including revisions to the General Taxation Law (GTL), the Corporate Income Tax (CIT) Law, the Value Added Tax (VAT) Law and Personal Income Tax (PIT) Laws. During the irregular session held on 22 March 2019, the Parliament passed the package of the revised tax laws which will be effective from 01 January, 2020.

The issue of a corporate governance started to receive attention in Mongolia since the year 2000, and it is viewed that development of corporate governance in our country is important for creation of appropriate conditions for sustainable and proper management and organisation of companies, in particularly of publicly listed companies, so that trust bonds between shareholders and companies is maintained and ability of companies to attract investment is improved.

Mediation a method of alternative dispute resolution parties to any agreement should consider, aside from arbitration. Mediation is essentially a negotiation facilitated by a neutral third party.

Let us introduce you this 'Doing Business in Mongolia' publication prepared by associate office of GRATA International law firm in Mongolia. The information in the brochure is based on theoretical and practical information available as of April 2019. The content of this brochure is intended for foreign businessmen and companies seeking to do business in Mongolia, incentives and support measures for investors.