Mongolia provides a highly attractive investment destination amongst frontier markets. The legal system is strong and independent, and accords foreigners extensive ownership rights in sectors such as real estate. Taxes are low, with no capital gains and income tax fixed at 10%. In addition to a favorable tax and legal environment, Mongolia is blessed with extensive resource wealth and proximity to major regional markets . GDP growth peaked at 17.1% in 2011 - making it the world's fastest growing country at the time. Investors can ride the wave of this rapid economic development.