Forming a father and son partnership ?
I would like to set my son up in business running a small bar. He has several years experience working as a barman and so from this point of view there should not be a problem. My question is since I will need to borrow from the french bank in order to buy the bar, I am assuming that I will need to be part of the business. I am currently living in France as a consultant and pay my taxes in the UK. What is the best form of legal structure for me and my son?
The bar is a License IV with a CA of 90,000 euros pa and a EBE of around 30,000 euros. I do not have to draw income from the bar but it might be a useful opportunity for me to come into the french system as my consultancy work is winding down. I will be 49 yrs this year and my son 22 yrs. We are both single.