Doing legal business in Mongolia
Mongolia offers significant potential for international investment given its very substantial mineral resources, which are estimated at US $1 trillion.
The Mongolian legal system is undergoing substantial changes as it moves from a Soviet-era to a more Western-based code.
Measures have been introduced to reform the court system and regulate the domestic and international legal profession.
Key economic reforms are also taking place to the legal frameworks governing:
- international investment
- mineral extraction
- natural resources
Practising in Mongolia
Foreign lawyers can only provide legal services in the law of their home jurisdiction or on international legal issues.
They do not have rights of audience in Mongolian courts, except in dispute resolution and arbitration forums or international courts.