My ‘partners’ and I are setting up a bushiban in the next year, and we are looking at the law and setup methods according to the govt.
I must admit to being highly confused on one point:
bushiban regulations state that you need one owner and one president of the school in order to do this. This would be akin to the sole proprietor arrangements of other companies…
What if you want to set up the bushiban as a company structure? Is that possible? We have more than one owner and the bushiban structure seems so fraught with issues that I am afraid to sign up for it.
Here’s what I thought we could do,
Four or five partners each take a shareholding of the company. The company is the legal owner of the bushiban and appoints a president. Surely this is possible! …but according to the paperwork we received this
seems not to be possible.
Do you see what I mean? Surely this must be possible as other schools, like Shane, must have multiple partners.
How do bushiban bosses set up the laws? Has anyone used this idea? Is it expensive…? Any advice MOST welcome as we would like to have some idea what to say to the lawyer.