For businesses in Mongolia preparing to join Bancoli to streamline their financial operations and global payments, the verification process is an essential step. It requires business documents that play a key role in complying with U.S. banking regulations.
The list below is tailored to help you understand the required documents and the type of information each document should contain in order to be accurately identified.
Important Note: We strongly recommend that you consult with legal counsel in your jurisdiction to ensure that you obtain the exact documents required for your specific business structure and location.
Legal Formation and Identification Documents
Initially, you will encounter a field requesting a "Certificate of Registration, Certificate of Incorporation, Certificate of Formation, Certificate of Organization, or a similar official document." Below are details for this fields options tailored to your jurisdiction:
- State Registration Certificate (Улсын бүртгэлийн гэрчилгээ | Ulsyn Burtgeliin Gerchilgee): This essential document officially recognizes the legal existence of a business in Mongolia. It includes the business name, registered address, and information about its legal representatives, acting as a pivotal piece for businesses operating within the country.
Operational and Governance Documents
Second, you will find a field that requests "Operating Agreement, Corporate Bylaws, Partnership Agreement, Articles of Incorporation or Organization." Below are details tailored to your jurisdiction:
- Address Registration Certificate (Хаяг бүртгэлийн гэрчилгээ | Khayag Burtgeliin Gerchilgee): Required for verifying the operational location, this document confirms the company’s registered business address within Mongolia, ensuring compliance with local regulations.
- Company Rules/Statutes (Дүрэм | Dürem): These foundational documents detail the internal governance structure, including roles and responsibilities of directors, decision-making procedures, and the organization's operational guidelines, ensuring that the business operates smoothly and in accordance with Mongolian law.
Proof of Physical Business Address
Third, you will find a field that requests "Physical business address (e.g., utility bill, credit card bill, bank statement dated within the last 3 months)." Below you will find more detail:
- Utility bill, Credit card bill, Bank statement: To verify the physical presence of the business in Mongolia, a recent document (dated within the last 3 months) such as a utility bill, credit card bill, or bank statement is required. It should reflect the business's address within Mongolia and can be in the name of the company or one of its legal representatives.
Ensuring that these documents are in order and readily available will facilitate a quicker and more efficient process to complete your business verification process with Bancoli.