Am confused

Am so confused right now. I don't know what to do. I started up my own modeling agency label and it was moving on well we been dping photoshoots with my models and posting them on social media and We got a deal of making an advert with some company but the deal wasn't done since my agency wasn't registered so I was told to register it first since I had no funds to register it then I told our family friend today he accepted to help me register it but he told me if he register it then I have to sign a article memorandum of association whereby he asked me that he needs 70% shares in the agency which I started with my very little savings. Is this right. Should I accept and sign the papers so that he helps me to register my agency. Is this the right thing for me to do. Should I accept before they use another agency.what does it mean for someone to having 70% in the company.

Khenpal1 · M Best Comment

He screws you for free , take you time and find someone who understands the rules . Seems you need to educate yourself first , its easy to loose your money this way

Roxy72 · 51-55, F

I think you need some professional advice before signing anything. 70% share of your company for registering it doesn't sound right at all. It's your company, keep it that way.

firefall · 61-69, M

that means he owns 70% of the company, gets to dictate how to run it, and claims 70% of the income. IDK what the registration fee is, but this sounds like a tremendous ripoff. Can you get a bank loan to cover this, or borrow smaller amounts from several friends?