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12.02.2021
Associate office Absolute Advocates LLP becomes a fully integrated member of GRATA International Mongolia
Dear clients and friends, I gladly announce that Associate office Absolute Advocates LLP becomes a fully integrated member of GRATA International Mongolia.
Legal Alert: The law on Intellectual Property has become applicable
Intellectual property rights are protected under the Law on Patent, the Law on Copyright and Related Rights, and the Law on Trademarks and Geographical Indications in Mongolia. However, the ability to benefit from works protected under such rights has been insufficient and the economic gain has been low. The new Law on Intellectual Property, adopted on 23 January 2020, is of great importance in that it regulates the foregoing issue. The Law has become applicable from 1 December 2020.
GRATA International held the online Labour Law Conference
On 8-10 December 2020, the firm arranged the online conference 'Labour Law Issues: Practical cases' for Azerbaijan, Belarus, Georgia, Kazakhstan, Kyrgyzstan, Mongolia, Russia, Tajikistan and Uzbekistan. The conference was held through ZOOM platform both in Russian and English.
GRATA International assisted in preparation of the EBRD Transition Report
GRATA International assisted European Bank for Reconstruction and Development in preparation of the EBRD Transition Report on the legal and regulatory framework of state-owned companies across the EBRD regions.
Legal Alert: Mongolia has shifted to public emergency readiness regime
The Government of Mongolia has decided to shift from Enhanced Readiness Regime to Public Emergency Readiness Regime nationwide for five days from 12 November to 17 November 2020 under the Decree No178 dated11 November, 2020 after a local citizen tested positive for coronavirus.
GRATA International Mongolia took part in the “Franchise for Growth and Legal Framework” webinar
On November 12-13, 2020 Bolormaa Volodya, Partner of GRATA International Mongolia took part in the “Franchise for Growth and Legal Framework” webinar with topic: “Unique issues of franchising a business in Mongolia”.
Legal alert: Mongolia acceded to the Asia Pacific trade agreement
On 29 September 2020, Mongolia acceded to the Asia Pacific Trade Agreement (APTA) as its seventh member by depositing the instrument of accession after long negotiation and domestic procedures. Initially, Mongolia expressed its interest to join the APTA in 2009 . As prerequisite for the accession, it had conducted several negotiations with member countries (the People’s Republic of Bangladesh, the People’s Republic of China, the Republic of India, the Lao People’s Democratic Republic, the Republic of Korea, and the Democratic Socialist Republic of Sri Lanka), as well as adopted the Law on Ratification of Asia Pacific Trade Agreement on 12, December 2019 . The Agreement will be effective from 1 January 2021.
Legal Alert: Amendments to Laws
In connection with the COVID-19 pandemic, and in order to support individuals and business entities and reduce the negative impact of the pandemic (1) the law on the exemption from social insurance premiums and support from the Unemployment Insurance Fund and (2) the law on tax relief and exemption from corporate income tax was adopted on 9, April 2020. These laws were amended on 28, August 2020.
Registration of ultimate beneficial owner information
Financial Action Task Force (FATF) announced that Mongolia included in the FATF grey list considering as a favorable country for supporting money laundering and terrorism financing on 18 October, 2019.
Mongolia: Mining 2020
Due to Mongolia has a rich resource of minerals, it is attracted by many foreign investors and many foreign and domestic companies looking for investment or business opportunities in the mining and petroleum sectors.
Mongolia is one of the 29 resource-rich developing countries identified by the International Monetary Fund. Approximately 2745 legal entities are held the mining and exploration licenses for 7,248,800 hectares area. It is covered 4.6% of the overall territory of Mongolia .
Partner
Ulaanbaatar, Mongolia