Myself and a friend would like to start a new company. I will be doing development work and my friend will invest money.
Our company isn't yet registered, but my friend would like to transfer a chunk of the money to me so I can buy some equipment (we live in different countries).
My question is - what is the tax status of the money he will transfer ? Do I need to declare this as income? Can I put it on the company's balance sheet when the company is registered ?