Mongolia Geography, Politics, and Culture

Once the center of an empire stretching from Asia to Europe under Genghis Khan, Mongolia is a landlocked country in Central Asia dominated by sparsely populated steppe and semi-desert. A third of the population lives in the capital, Ulaanbaatar, while another 40% are nomadic, herding livestock in the extensive grasslands.

In the late 12th century, a chieftain named Temüjin succeeded in uniting the Mongol tribes between Manchuria and the Altai Mountains and took the title Genghis Khan. He waged a series of brutal and fierce military campaigns conquering much of Asia and forming the Mongol Empire, the largest contiguous land empire in world history.

The majority of the population are Buddhists, and horse culture is still an integral part of their society. Mongolian cuisine is rooted in their nomadic history, with dairy and meat featuring prominently, with few vegetables. Two of the most popular dishes are Buuz (a meat-filled steamed dumpling) and Khuushuur (a deep-fried meat pie).

2021
June 1Children’s Day
July 11Naadam Holiday (National Day)
July 12Naadam Holiday (National Day)
July 13Naadam Holiday (National Day)
July 14Naadam Holiday (National Day)
July 15Naadam Holiday (National Day)
November 5Genghis Khan Day
November 26Republic’s Day
December 29Independence Day
  • ХК (Khuvitsaat Kompani/Хувьцаат Компани)
  • ХХК (Khyazgaarlagdmal Khariutslagatai Kompani/ Хязгаарлагдмал Хариуцлагатай Компани)
  • ТББ (Töriin Bus Baiguullaga/Төрийн Бус Байгууллага)
  • ГХО ХХК (Gadaadiin khurungu oruulalttai khyazgaarlagdmal khariutslagatai kompani / Гадаадын хөрөнгө оруулалттай хязгаарлагдмал хариуцлагатай компани)
  • Corporate Tax: 10%
  • Income Tax (Lowest Marginal Rate): 10%
  • Income Tax (Highest Marginal Rate): 10%
  • VAT/GST/Sales Tax: 10%
  • Bank of Mongolia (Commercial Bank)
  • Trade and Development Bank of Mongolia (Commercial Bank)
  • TransBank of Mongolia (Commercial Bank)
  • National Investment Bank (Commercial Bank)
  • The State bank (Commercial Bank)
  • Capital Bank of Mongolia (Commercial Bank)
  • Capitron Bank of Mongolia (Commercial Bank)
  • Credit Bank (Commercial Bank)
  • Golomt Bank (Commercial Bank)
  • Arig Bank (Commercial Bank)
  • XacBank (Commercial Bank)
  • Ulaanbaatar city bank (Commercial Bank)
  • Chinggis Khaan bank (Commercial Bank)
  • Bogd bank (Commercial Bank)
  • Khan bank (Commercial Bank)
  • The Development bank of Mongolia  (State Bank)

Aadmi can support you with your expansion to Mongolia. Our team of experts in country manage every aspect of your expansion from incorporation, accounting, legal, and even administrative concerns.  Matched with Global People Strategist’s powerful labor compliance software, your company is in good hands.

Contact us today for more information about how your company can benefit from using Aadmi as your global expansion partner.

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