Q: I invested £196k into my business. Expensed from personal account in UK. US account now open. Need to include as capital
I invested £196k into a business that I have set up in the USA. I have recently opened a US bank account for the business. All of the transactions were made from a UK account. I need to include the money spent on items as Capital of the company. How do I include this in my operating agreement as I do not want any repayment, nor do I want any interest added. Most of the funds have been spent on company equipment and start up costs.
I understand that as the business account was not set up, and the transactions came form a different account, it is difficult to include these as company items, but how can I include items that I giving? I do not want any repayment, nor any interest to the money I have given the company.
A: This really does NOT look like a do-it-yourself project. You are talking about £196K. Many businesses would find it prudent to consult an attorney.
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