In recent years, Mongolia** has been working to improve the business environment in order to attract more foreign investment. It is important to note that when registering a company in Mongolia, there are certain requirements and regulations that need to be met by the company name and the shareholders and directors of the company.
Company name requirements for company registration in Mongolia:
1.Language requirements: The company name must be in Mongolian. When registering a company, it is necessary to submit an application form to fill in the company name in Mongolian.
2.Name content requirements: The company name can contain letters, numbers, and special characters, but it must start with a letter or number in Mongolian. In addition, the company name must not contain words that are offensive to public morality, insulting, or politically sensitive.
3.Uniqueness requirements: When registering a company in Mongolia, it is necessary to ensure that the company name is unique before it is registered with the Industrial and Commercial Bureau, and cannot be similar or identical to the company name that already exists. If the company name you want to use has already been registered, you will need to choose a new name.
4.Trademark and brand requirements: When registering a company in Mongolia, you also need to pay attention to the trademark and brand requirements. The company name must not infringe on the trademarks and brand rights of others, such as using trademarks or brand names that are similar to others.
5.Registration requirements: When submitting the company name application form, you need to provide the company's articles of association, shareholders' meeting resolution and other relevant documents, and pay the corresponding registration fee. After the examination and approval by the industrial and commercial bureau, a business license and company seal and other certificates will be issued.
Requirements for shareholders and directors of Mongolian companies
1.Limited Liability Company (LLC).
Only one shareholder and one director are required.
2.Joint Stock Company (JSC).
A minimum of 2 shareholders is required, and they can be non-resident foreign individuals.
A Board of Directors consisting of at least 9 members must also be appointed
Shareholders holding more than 25% of the shares are required to contribute $100,000 to the company.
JSC can operate as a private entity without having to be listed on an exchange.
3.Representative Office.
An authorized person is required to act on behalf of the entity in Mongolia.
A representative office can only carry out non-profitable activities in Mongolia.
The above are the specific requirements for the company name and the shareholders and directors of the company registered in Mongolia, if you have any questions, please feel free to ask questions.