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Hi I am one of the experts. She can give you a personal loan and you can sign an agreement with her. Then being the director of the company you can give loan to your company as is more straight forward. Once your company can pay this loan back then get it paid. Please do get all such loan agreements written and signed for in case.
Hope I have answered your question?
It is a loan so you should return this loan back to her once you have to. Get an agreement signed with her please and then get this loan paid back afterwards.
In that case she should employ this person on her own name and pay his salary. So, you need to make sure that the employer is identified correctly.
So in nutshell, you need to make sure that if person is employed by your company then he has received salary via your company and if he is employed by your sister then he is given salary by your sister.
I respect your point of view however there is only few legal ways to get this done properly. So either this is your company's employee or her employee or may be this is shared employee between two of you but all of this should be written in an agreement and signed by both parties.
Hope now I have answered your question?