Ulaanbaatar
Number of foreign investors in Mongolia increasing
Society
We have interviewed D.Mandakh, Officer of Visa and Permit Department at Mongolian Immigration Agency, in order to inform foreign investors in Mongolia and foreign nationals who are willing to invest regarding visa issues and investors' rights and obligations.
-After its decline in recent years, foreign investment is likely to rise again. What are the latest statistics and information on this matter?
-The number of foreign investors with a residence permit in 2016 - 2017 has increased. For example, the number of foreign investors with residence permit was 967 in 2016, but increased to 1,121 in 2017. The number of residence permit extension was 2,178 in 2016 and 2,565 in 2017.
-Do you have any additional notice about the rights and obligations of foreign investors?
-I would like to notify a few things related to the request for a residence permit. A foreign investor who applies for a residence permit in Mongolia shall enter with the ‘T’ visa for investors. He or she must be registered within 7 working days and apply for the residence permit within 21 calendar days to the Mongolia Immigration Agency after arrival to Mongolia. The foreign investor must arrive at the Mongolia Immigration Agency by himself/herself or may send his/her accredited delegate with necessary documents to extend the residence permit.
When extending the residence permit, the foreign investor’s status of tax payment and a regularity of action shall be revised, moreover, the entity’s functioning office and implementation of foreign investment in the country shall be reviewed in essential cases by officials of the Mongolia Immigration Agency.
-After its decline in recent years, foreign investment is likely to rise again. What are the latest statistics and information on this matter?
-The number of foreign investors with a residence permit in 2016 - 2017 has increased. For example, the number of foreign investors with residence permit was 967 in 2016, but increased to 1,121 in 2017. The number of residence permit extension was 2,178 in 2016 and 2,565 in 2017.
-Do you have any additional notice about the rights and obligations of foreign investors?
-I would like to notify a few things related to the request for a residence permit. A foreign investor who applies for a residence permit in Mongolia shall enter with the ‘T’ visa for investors. He or she must be registered within 7 working days and apply for the residence permit within 21 calendar days to the Mongolia Immigration Agency after arrival to Mongolia. The foreign investor must arrive at the Mongolia Immigration Agency by himself/herself or may send his/her accredited delegate with necessary documents to extend the residence permit.
When extending the residence permit, the foreign investor’s status of tax payment and a regularity of action shall be revised, moreover, the entity’s functioning office and implementation of foreign investment in the country shall be reviewed in essential cases by officials of the Mongolia Immigration Agency.
(full interview will be published on 30 March issue of the Mongol Messenger)
Source: Mongolia Immigration Agency
Source: Mongolia Immigration Agency
