"…our mission is to help companies operate efficiently and profitably in Mongolia"
Wholly Foreign Owned Enterprises (WFOC)
- A WFOE is a limited liability company wholly owned by the foreign investor(s), without joining together with a Mongolian partner
- A WFOE will first need to be registered with the Board of Foreign Investment, after what it will be registered with the Mongolian tax department
- A minimum invested capital of 100.000 USD will need to be deposited on the official company bank account. This bank account will be opened in a Mongolian bank
- Setting up a WFOC does not necessarily mean that you can engage in any sort of activities
- Before starting your company activities you will need to get the licenses related to the activities of your company. Those licenses are issued by the local administration
- We help you from A to Z in the setup of your WFOE
- We do all the paperwork and help you to get the needed licenses. If needed we find production room and office to be bought or rented out by your company
- In case of financial shortage for the setup of your company, we can discuss to resolve this problem together
Joint Venture Enterprise
- A JVE is a limited liability company with a foreign investor(s) – Mongolian investor(s) co-ownership
- The distribution of the ownership of the company can be as defined by it’s owners. There is no minimum or maximum participation in the capital by one of the parties
- The registration procedure and the minimum investment is the same as for a WFOE
- The same licenses will be asked for a JVE as for a WFOE
- A foreign NGO that wants to be active in Mongolia needs to be registered with the Ministry if Justice before being involved in any activity in Mongolia
- A local NGO is a in Mongolia created and registered NGO with it’s head office in Mongolia
- We help you throughout the whole process of registering your foreign NGO or setting up your Mongolian NGO
Mergers & Acquisition
- The M&A division of Ukhaalag Setgelgee Consulting focuses on assisting Western firms in finding potential acquisition partners in Mongolia
- Ukhaalag Setgelgee have long been involved in Mergers & Acquisitions and re-structuring businesses in Mongolia, including mergers of different factories, converting Joint Ventures into WFOE’s, closures of operations and the like.
- Obviously this is very much an individual application of practical business experience and cases vary considerably. All such requirements need a thorough understanding of Mongolia’s law and tax regulations.
- In the past two decades, Mongolia has been developing a comprehensive legal framework and an improved law enforcement system to protect intellectual property rights. In compliance with WTO requirements, relevant legislation has been implemented, most prominently on trademark, patent and copyright laws.
- Ukhaalag Setgelgee can advise you on how to protect your intellectual property in a dynamic market bearing substantial infringement risks.
- We will help you register your trademarks and patents in Mongolia to ensure maximum protection.
- Establishing a new office costs time and resources both to set up and maintain efficient operations and ensure that all systems are legally compliant. Best business practice is to focus company resources on the profitable core business and outsource non-core functions, such as payroll administration function, to specialist organizations.
- The payroll process is outsourced with increasing regularity because many companies do not wish to handle confidential information internally.
- We can distribute a pay slip to individual staff to explain salary details by presenting a full breakdown. We can also provide a full summary of salaries to management on a monthly basis.
- Ukhaalag Setgelgee handles clients’ documents in a confidential manner and only communicates with clients in ways which protect and ensure the privacy of their transactions.
- To ensure maximum cost effectiveness, our experienced tax professionals can advise on structuring an efficient remuneration package for your employees.
- As social insurance is owed to the State of Mongolia. It is important to make sure that the appropriate social insurance contributions are provided to each staff. Outsourcing this function provides more time for managers to focus on their core business while assuring that the social insurance is paid each month and the figures for reviewed for accuracy.
- The foreign company established in Mongolia has to consider managing the visa issues for their foreign employees
- Work permits and visas are time-consuming, frustrating and can be very expensive
- Ukhaalag Setgelgee can eliminate the work visa headaches. The consultants at Altan Bogd Consulting manage the entire visa process from beginning to end.
- Ukhaalag Setgelgee guides you through the process to make the experience hassle-free for employee and the expatriating family.
- Our recruiting firm conducts searches across all career disciplines and for a variety of industries.
- When conducting recruiting engagements, we become an integral part of building your team and work closely with executives, hiring managers, other recruiters and human resources professionals.
- Regardless of the type of assignment, we take a long-term view that includes the follow-up on how well your new hires perform; and we also provide post-hire guidance to make sure you get their highest level of performance.
- Drawing up a clear unambiguous contract can be a difficult task without the specialist knowledge of the relevant country’s employment law and regulations.
- Ukhaalag Setgelgee offers employment contracts and related documents suitable for use in Mongolia.
- We provide a template for basic contracts and for more complex or senior level positions
- Our documents have been prepared primarily for use of limited companies, but can also be used for indirectly operational entities; with due regard to the prevailing employment laws.
"our client must succeed, always,
even better, ..."