The Resolution No. 441 by the Financial Regulatory Commission dated December 27, 2019 set the minimum share capital of new companies to carry out non-bank financing activities, except those companies engaging only in foreign currency exchange, as 2,500,000,000 /two billion five hundred-million/ MNT in the city of Ulaanbaatar, 600,000,000 /six hundred-million/ MNT in Bayan-Undur soum of the Orkhon province and Darkhan soum of the Darkhan-Uul province, and 200,000,000 /two hundred-million/ MNT in the other soums and provinces.

The minimum share capital of new companies to engage in foreign currency exchange is regulated as 300,000,000 /three hundred million/ MNT in the city of Ulaanbaatar, and 200,000,000 /two hundred-million/ MNT in soums and provinces.

The Resolution obliges the shareholders of those non-bank financial institutions of which the minimum share capital less than the required amount to reach 1,400,000,000 /one billion, four hundred-million/ MNT in the city of Ulaanbaatar, and 100,000,000 /one hundred-million/ MNT in the Bayan-Undur soum of the Orkhon province, other soums of Darkhan-Uul province excluding Darkhan soum by February 10, 2020.

Please click here for the Resolution.