The State Great Khural (the Parliament) approved the revised version of the Law on Licensing on June 17, 2022 and shall become effective from 01 January 2023. Member of Parliament H. Gankhuyag worked as a leader of the working group on this draft law. The Law on Licensing of business activity, which is valid today, was approved on February 01, 2000, and was amended 69 times in the past. The newly approved Law on Licensing has 35 articles in 9 chapters and provides for the issuance of more than 360 licenses in 14 areas of special licenses and 12 areas of common licenses.
The following activities of 14 fields shall be carried out with special licenses (Article 8.1 of the Law on Licensing):
- Banking and non-banking financial services;
- Construction, urban development and public utilities;
- Road and transport;
- Financial, economic, customs and investment;
- Cultural and education;
- Mining and heavy industry;
- Communication and information technology;
- Employment activities;
- Legal and other common issues;
- Food, agriculture and light industry;
In accordance with Article 8.2 of the Law on Licensing, the 12 fields for activities with common licenses are subject to the above-mentioned 14 fields, except the defense and energy.
For more information or any queries, please feel free to contact Bolormaa V, Partner and Namuun G, Junior Associate, of Grata International Law Firm by firstname.lastname@example.org, email@example.com or +97670155031.
This legal information was prepared by Umguulliin GRATA International Mongolia LLP, the Mongolian office of GRATA International, an international law firm that has its branches in 20 countries around the world. The material contained in this alert is provided for general information purposes only and does not contain a comprehensive analysis of each item described. Prior to undertaking (or not undertaking) any action, readers should seek professional advice specific to their situation. No liability is accepted for acts or omissions taken in reliance upon the contents of this alert.