Hi, I am in the stages of starting a tech company and looking to understand the best solution short term and long term. I am planning on starting it as a private business where I will be the sole shareholder. As the business develops there will likely be a need for an investor who will be a minority shareholder. At some point I would want to move my ownership into discretionary trust where the beneficiaries will be myself and kids (both are under 10 and can be added after the setup if needed).
The questions I have are:
1) Can a transfer from me as an individual to a trust happen without too much pain?
2) Can I add the children straightaway/after?
3) On the assumption I am the majority shareholder, can a minority shareholder stop this change?
4) Would it be significant more just to set up a trust from the start?
At this point i have outgoing as I develop the product, survey the market for the solution and get everything ready so this advice should allow me to establish what i need for the next 6-12 months.
Thanks in advance for all the feedback I get.
The questions I have are:
1) Can a transfer from me as an individual to a trust happen without too much pain?
2) Can I add the children straightaway/after?
3) On the assumption I am the majority shareholder, can a minority shareholder stop this change?
4) Would it be significant more just to set up a trust from the start?
At this point i have outgoing as I develop the product, survey the market for the solution and get everything ready so this advice should allow me to establish what i need for the next 6-12 months.
Thanks in advance for all the feedback I get.