Q: How do Mongolian taxes compare with those of other countries in the region?

April 20, 2016

A: Very favorably. Mongolia’s personnel income tax is a flat 10%. In China the rate ranges from 3% to 45%, and in Russia the flat tax is 30%. The Mongolian corporate tax rate ranges from 10% to 25% for firms incorporated in Mongolia; 20% otherwise. The Chinese and Russian rates are 25% and 20% respectively.

Q: Where are most of the banks in Ulaanbaatar located?

April 20, 2016
A: One block to the left of Sukhbaatar Square lies the heart of the Mongolian banking system, where the majority of the country’s largest financial enterprises are headquartered. Here the central offices of Golomt Bank, Trade and Development Bank, Capital Bank, Ulaanbaatar Bank, Savings Bank and State Bank surround the imposing Central Bank of Mongolia. Buried amongst the financial institutions are an assortment of foreign embassies, including those of France, Germany, and Turkey.

Q: Is there a university in Ulaanbaatar?

April 20, 2016
A: The National University of Mongolia, established in 1942, is the oldest in the country. Originally the university was a training ground for the communist party’s executive class. Now offering a variety of competitive programs, approximately a third of university educated Mongolians graduate from the institution, with an estimated 11,000 undergraduates, 2000 graduate students, 800 faculty members, and 400 academic support staff registered at any one time.

Q: What is one of the favorite places for people to gather in Ulaanbaatar?

April 20, 2016
A: Located directly in the center of the Central Business District of Ulaanbaatar is Millies Café. Established in 1998 by café founder / owner Millie Stoda, Millie’s Café has become an institution in Ulaanbaatar with expats and locals. Lunchtime is always crowded, and sometimes if guests have an empty chair at their table it is often filled with another guest. Ambassadors, Ministers of the Mongolian Parliament, miners and businessmen all mingle and network over excellent coffee and good service. Located directly on the west side of the Choijin Lama Museum, in back of the Blue Sky Tower, Millie’s has the ambiance and

Q: Which district in Ulaanbaatar is the preeminent one?

April 20, 2016
A: If one district may be considered representative of modern Ulaanbaatar, it is without a doubt Sukhbaatar District. Despite being just 218 hectares in size, the area acts as the epicenter of both political and economic activity within the city.

Q: How are homes heated in Ulaanbaatar?

April 20, 2016

A: This heat is produced and distributed by a network that is both archaic and unsustainable. Ulaanbaatar’s basic energy needs are met by an interconnected cogeneration system, which produces both the city’s electricity and heat, known as District Heating (DH). Both products are created by three Combined Heat and Power (CHP) plants located in the far western, industrial sector of the capital. The DH system then works together with private heating supply companies to supply heating

Q: How are the wholesale and retail industries doing in Mongolia?

April 20, 2016
A: In response to these increasing levels of demand, the wholesale and retail industry within Mongolia has experienced solid growth over recent years. The number of establishments operating nationally within the retail industry increased from 26,725 to 28,152 in 2015 whilst the gross domestic product generated by these establishments increased by 5.3% between 2014 and 2015.

Q: How much is being paid currently for upscale office space?

April 20, 2016

A: Given the strong demand for Grade A office space in the Central Business District, together with the extremely limited supply side conditions, it is unsurprising that rental rates per square meter have more than doubled over the past few years. As of Q1 2016 rent for an upscale office in Sukhbaatar district ranges between $30/sm to $60/sm.

Q: What are rental prices like in Ulaanbatar?

April 20, 2016
A: Valued at just $5.80/sm on average per month in 2005, residential rental prices increased steadily for several years, reaching a 206% rise to $17.80/sm on average at Q3 2012. Recent years have seen a decline with prices now generally $5-10/sm per month.
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