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March 2021
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There are different ways to do business. There are also businesses which are being operated without having any kind of registration. But doing business in this manner is always considered as an illegal activity. So, you must avoid doing this for your business. If you want to start and run a business, then you need to start things from the scratch. First you need to register the business. And this is surely a very time consuming and hectic process. If you want to avoid this step, then you should opt for the company set up with bank account. By doing so, you ensure that you own a company that was already registered and also having a bank account. And when you have a business bank account, applying for loans and getting approval also become easier.
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There are different ways to do business. But when you are thinking to form a foundation, things can be bit different for you. A foundation is considered as the nonprofit organization. Due to this reason, you can even operate this without registering it. But this will be considered as illegal. But when you want to run a foundation in a legal manner, you must establish foundation and get it registered first. A registered foundation is often given a great priority. Such an organization is also considered as a corporate body and receiving gifts or the funds from the clients become easier for you. When you have a registered foundation, other organizations also want to become a partner with you. And that’s the prime benefit that you can have when you establish foundation.
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