No, it is necessary to set up a fund.

The establishment, alteration and cancellation of registration of foundations, foundation branches, foundation representative offices and overseas foundation representative offices shall be announced to the public by the registration administration organ.

Processing basis

Regulations on the Administration of Foundations (the State Council Decree No.400th, March 8, 2004)

1) Find an affiliate first. The affiliated units of the National Foundation shall be above the deputy ministerial level, and the affiliated units of provincial (city) foundations shall be above the deputy ministerial level.

2) The National Foundation needs the approval of the central bank! The provincial (city) foundation is approved by the local people's bank!