Facts & Stats
- Capital City
Mongolian tögrög (₮, MNT)
- Population size
- Ease of doing business
- Cost of living index
- Payroll frequency
- VAT - standard rate
- GDP - real growth rate
Mongolia is a landlocked country bordered by Russia in the north and China in the south. This Central Asian expanse is filled with breathtaking landscapes of rugged plains and rocky outcrops. The vast swathes of inhospitable land throughout Mongolia make it the world’s most sparsely populated country. Geography aside, Mongolia is rich in history. This proud nation is the birthplace of Genghis Khan and his empire —the largest in human history.
In modern times, the Land of the Eternal Blue Sky has an economy dependent on resources (particularly solid minerals), as well as agriculture, and tourism.
Grow your team in Mongolia with Remote
Looking to employ workers in Mongolia? Companies hiring in Mongolia must either own a legal entity in the country or work with a global employment solutions provider, usually one that provides employer of record services.
Remote can employ your team in Mongolia on your behalf through our local legal entity in the country and handle payroll, benefits, taxes, and compliance for your Mongolia team. You can also pay contractors now in Mongolia with Remote in some currencies (talk to an expert now for full details).
Risks of misclassification
Mongolia, like many other countries, treats self-employed individuals or contractors and full-time employees differently. Misclassification of contractors in Mongolia may lead to fines and penalties for the offending company.
Employing in Mongolia
Workers rights in Mongolia are protected by the Mongolian Constitution and the Labor Code of 1999, both of which guarantee equal pay for equal work and protections against discrimination based on age, religion, gender expression, and race.
Common questions that could come up during the hiring process include the minimum wage, overtime rates, and guaranteed paid time off. Remote can help you offer a complete, competitive, and compliant benefits package to your employees in Mongolia.
The Mongolian minimum wage is currently fixed at MNT420,000 ($134) per month.
13 Public holidays
Competitive benefits package in Mongolia
At Remote, we’re obsessed with helping you craft the best possible employee experience for your team. We are leading the way in practicing “fair equity,” which means making sure employees everywhere have access to both the required and supplemental benefits they need to thrive (and that will allow you to attract the best local talent).
Our benefits packages in Mongolia are tailored to fulfill the local needs of your employees. Typically, our packages contain some or all of the following benefits:
Mental Health Support
Pension or 401(K)
Life and Disability Insurance
Taxes in Mongolia
Learn how employment taxes and statutory fees affect your payroll and your employees’ paychecks in Mongolia.
0.4% - 3%
Types of leave
Mongolian employees are entitled to 15 days’ paid vacation every year, with additional days depending on the worker’s tenure:
Six to 10 years of employment: three days
11 - 15 years of employment: five days
16 - 20 years of employment: seven days
21 - 25 years of employment: nine days
26 - 31 years of employment: 11 days
32+ years of employment: 14 days
An employer can terminate a worker for misconduct, dishonesty, poor performance, or any other agreement outlined in an employment contract.
The mandatory notice period is 30 days.
Workers are entitled to severance pay equal to a month’s wages if they’re dismissed for military duty, business liquidation, or if they reach retirement age.
Limited to three months.