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An operating agreement is a key document used by limited liability companies (LLCs) to outline the business' financial and functional decisions including rules, regulations and provisions. The purpose of the document is to govern the internal operations of the business in a way that suits the specific needs of the business owners, called "members".
In certain U.S. states (for example, Texas), businesses that provide professional services requiring a state professional license, such as legal or medical services, may not be allowed to form an LLC but may be required to form a similar entity called a professional limited liability company (PLLC). [4]
Following changes to the Code of Companies and Associations, the term "Private limited liability company" (BVBA/SPRL) automatically became "Private limited company" (BV/SRL), [20] [21] as a part of harmonising legal entity types within the European Union.
Similar to a regular small business loan, the LLC loan can be secured or unsecured, and funds can be used for various business needs, such as startup expenses, equipment purchases and working capital.
The online business licenses are handled by National Board of Revenue. The cost of a trade license varies depending on factors such as the business type, size, and location. Generally, small businesses can expect to pay between BDT 500 to 1,000, while medium and large businesses may incur costs ranging from BDT 3,000 to 60,000. [12] [13]
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