Business
Civil-law company forms with heavy mining-sector regulation
The Civil Code and Company Law provide limited liability and joint-stock forms. Foreign investment is generally open, but minerals and strategic sectors carry additional licensing and state-participation rules.
Key rules
- Jurisdiction — Registration with the General Authority for State Registration; mineral licences from the Mineral Resources and Petroleum Authority.
Governing law
- Civil Code of Mongolia2002
- Company Law of Mongolia2011
- Investment Law2013
- Minerals Law2006, as amended
In practice
The 2013 Investment Law replaced a restrictive predecessor and offers stabilisation certificates fixing tax rates for defined periods. Deposits designated as being of strategic importance allow the state to take an equity share, which is the central commercial risk in the mining sector. Foreign state-owned entities acquiring control in minerals, banking or media need government approval. There is no minimum capital for a limited liability company, but a foreign-invested company must meet a statutory investment threshold per foreign shareholder.