Bolormaa Volodya is a Partner at Absolute Advocates LLP. Prior to joining the firm, she was a Contracts Senior Advisor and Deputy Contracts Manager at Oyutolgoi LLC; an Off-Counsel of GRATA Law firm in Mongolia; a Senior Lawyer and Head of Ulaanbaatar Representative office of GRATA Law firm in Mongolia; a Lawyer at Anand and Batzaya Advocates; a Legal consultant at Dalaiyan auditing LLC; and a Business Development Assistant on ERPC at USAID.
Incorporated Freywille Mongolia LLC, an Austrian jewellery manufacturer, and assisted in opening its store in Mongolia, i.e. drafted all founding documents and assisted with Trademark registration in Mongolia;
Mergers and Acquisitions:
Drafted and revised all labour related company internal documents, including the internal labour policy, employment contracts, cash claiming policy, etc.;
Advised pharmaceutical companies, including Pfizer and Merck, regarding the distribution agreement and other supply contracts;
Parliament of Mongolia had adopted the Law on the Legal Status of Foreign Nationals on 08 July 2010. According to this law, the government has enacted appendixes of Resolution No145 on the Procedure of Issuance of Mongolian visa and Resolution No146 on Residence and Registration of foreign nationals in Mongolia in 2018 for regulating visa and residence permit related relations.
The Parliament of Mongolia adopted tax reform package including the General Tax Law, Law on Corporate income tax, Law on Value added tax and Law on Personal income tax which shall take effect on 1 January 2020.
The Government of Mongolia submitted a tax reform to the Parliament in 2018 including revisions to the General Taxation Law (GTL), the Corporate Income Tax (CIT) Law, the Value Added Tax (VAT) Law and Personal Income Tax (PIT) Laws. During the irregular session held on 22 March 2019, the Parliament passed the package of the revised tax laws which will be effective from 01 January, 2020.
A copyright is a legal device that gives the creator of a literary, artistic, musical, or other creative work the sole right to publish and sell that work. Copyright owners have the right to control the reproduction of their work, including the right to receive payment for that reproduction.
In the third year, the "Lawyers Forum-2019" was held by Mongolian Bar Association on June 13, 2019, at the Corporate and Convention Centre under the motto "The Role and Participation of Lawyers in Legal Reform". Bolormaa Volodya, Partner of GRATA International in Mongolia has attended to the Forum.
The issue of a corporate governance started to receive attention in Mongolia since the year 2000, and it is viewed that development of corporate governance in our country is important for creation of appropriate conditions for sustainable and proper management and organisation of companies, in particularly of publicly listed companies, so that trust bonds between shareholders and companies is maintained and ability of companies to attract investment is improved.
In Mongolia the institution of mediation was established by adoption of the Law on Mediation in 2012. Pursuant to Law, mediation may be used in civil legal disputes, individual labor disputes and disputes arising from family relationships, and in some other disputes only if specified by law.
General understanding of the Arbitration: Civil court lawsuits and trials are the traditional method for resolving disputes.
The exclusive rights of the trademark holder will be granted or entitled when the trademark is officially registered with the General authority of Intellectual property and trademark certificate is issued.
Despite the fact that Mongolian legislation provides for a wide range of legal forms of commercial entities (limited liability company or LLC, joint-stock company or JSC and joint venture), in practice, private businessmen and foreign investors mostly prefer LLC or JSC. Representative office of foreign legal entities is also common
The competition law regulates matters related to the creation of conditions for fair competition in the market for business entities, identification and implementation of legal and organisational grounds for prohibition, restriction and prevention of any activities impeding competition.
From 2000, global policy, documentation and software on international taxation have been developed and many countries have joined to the implementation of Base Erosion and Profit Shifting (BEPS) Package.
New Law on National Payment System, dated 31 May 2017, shall become effective from 1 January 2018. The importance of the new law is an integrated payment system launch between the Central Bank, commercial banks, legal entities, other financial institutions and individual customers. As result of the law enactment, the Central Bank will be able to control all payment transactions of all participants of Mongolia financial market.
The Law on Advertising (2002) and Law on Medicines and Medical Devices (2010) are main laws to regulate advertising of medicines in Mongolia.
Even with a slowdown in 2014, Mongolia has experienced dramatic economic growth in the 2000s. A small country with a population of 3.1 million, Mongolia has had real per capita gross domestic product (GDP) averaging annual increases of more than 6.7 percent from 2000 to 2013, more than 5.4 percentage points above global economic growth. The growth of 15.8 percent from 2010 to 2011 and 10.6 percent from 2011 to 2012 was especially high.
On 7-9 December 2017, Bolormaa Volodya, Partner, and Altanzaya Gunsen, Taxation Counsel of Absolute Advocates LLP, GRATA International's associate office in Mongolia, have attended International Taxation Conference 2017 in Mumbai, India.
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