admin/ January 31, 2018/ Business Consulting/ 0 comments

The procedures to establish your own company

You might agree that there is insufficient information how to establish a company. If you are going to establish a Mongolian company, you have to complete the following steps.

1. Get the GASR name and verification certificate (to avoid duplication of names);
1.1. Get a bank account for 500 tugriks;

1.2 Payment receipt The GASR can be submitted to the nominated window;

1.3 GASR receives a validation slip from the bank to open the account with the number of accounts opened to the bank. (3 yellow pages for 3 bank accounts);

1.4 Get a checklist of the required documents;

2. The requested documents should be submitted to GASR

There are templates of meetings munites, company rule and decision to establish a company on the official website of the GASR – You have to download and adapt them according to your needs.  2 copies of Minutes of Meeting, 3 copies of the company rule and 2 copies of the decision shall be submitted to GASR. 

2.1 Establish a protocol meeting for founders
2.2 Selection of company management (incorporating company decision)
2.3 Developing company rules
2.4 Establish a decision to establish a company

3. Opening a temporary account for a bank (minimum balance of MNT 20,000)

3.1 yellow pages from the GASR opening statement
3.2 The elected management of the company must personally submit a document
3.3 Get a list of materials required to confirm the account
3.4 The GASR shall pay for registration by the legal entity.

4. Register your completed documents to GASR.

5. Receive certificates and rules from newly established GASR.

6. Company stamp
6.1 State registration certificate
6.2 Payment of MNT 49,000

7. Notarized signature certificates and state registration certificates

8. Go to the bank to confirm your account

9. Visit a district tax office and get your company registered and consulted.

Good luck!

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