I am sorry if the category to post this is wrong but here goes.
5 of my friends and I are thinking about starting a software company. I will be the only one who will be working at the office , we will hire some employees. Total investment from their side is to be about 12 Lakhs So here's my question (I tried to find the answer online and even contacted few lawyers locally but no one had an answer) :-
All of them are employees of different companies and one of them is a govt employee. What is the best way to legally accept money from them so I can start working. I am okay with setting up a Pvt Ltd and making them shareholders, or showing the money as a loan. Can someone please guide me what I should do?
Your friends can always invest in your business without any fear. Just because they are working there is no bar from investing in a venture. Yes, there would be some restrictions from them becoming Directors in the company.