Ok - I've done a lot of searching on PPRune, but it may be that the question I have is actually so stupid no-one has yet asked it.
As you know, Mak and I are thinking of buying this new citabria and setting up a small group of people (3 or 4).
My question is - I know you can form a ltd company, issue shares, treat the capital as directors' loans etc...but for a small group like this one - do you need to?
But if you don't, who actually owns the aircraft. I mean obviously you all do (pro rate to your investment) but how do you evidence that? And do small groups just write up a basic modus operandi to work from?
Apologies if these questions have been asked before, but searching hasn't yet turned up what I need.
Cheers guys.
