CHAPTER THREE: OPERATION OF BUSINESS ENTITIES WITH FOREIGN INVESTMENT

Article 10. Business Entity with Foreign Investment

1. A business entity incorporated under the laws of Mongolia that has  minimum capital of 50,000 USD, or the tugrigs equivalent thereof, and in which the contribution of a foreign investor is not less than 20 percent of such capital,shall constitute a business entity with foreign investment.

2. The amount of cash contribution by a foreign investor to the capital of a business entity with foreign investment shall be not less than IO,OOO USD or the tugrigs equivalent thereof.

3. A business entity with foreign investment shall become a Mongolian legal entity from the date of its registration and shall conduct its operations pursuant to the laws of Mongolia.