I am looking at getting a financial investment
in my LLC partnership
coming from my family (dad and godfather). Both live abroad -- one in Kenya and the other in New Zealand. We have a Los Angeles based LLC that is a partnership filing as an S entity.
The investment is a large amount of money -- approximately $250,000 and would be being put in on my behalf (I would end up owning their shares)
Currently, I own 50% of my business
and my partner owns 50%. We are planning on changing this structure to accommodate vesting in a new partner. After this investment money is put into the company, the breakdown would be 51% for me, 25% for my business partner, and 24% remaining to vest the new partner in over 3 years (with a 1 year cliff).
My question relates to the legalities and accounting matters to be taken into account with this investment money. What is the proper way to get this money into our bank accounts and account for it legitimately. The investment would essentially be a gift to me so that I would takeover
51% of the ownership and my partner would get diluted to 25%. He is totally on board with this, we are just trying to figure out the way to get this done properly without tax implications for my Godfather and father etc.
Advice would be greatly appreciated.