Efficient way to share PSD file that will be edited multiple times?

Can you share more information what are actual error you are facing 

One approach is to use the built-in online collaboration feature in Photoshop. If you are using the current version, choose File > Invite. This will take advantage of the Photoshop Cloud Document format, which is stored online so that those you invite can edit the same Photoshop document through the cloud. There is no confusion about multiple people downloading the same document and creating conflicting versions, because everyone is editing the same Adobe cloud document.

More information:

Share access and edit your cloud documents

@Elektra2001 wrote:

Is there a way to allow them to be able to edit the image and layers but not download the actual psd file?

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If you are saying you want them to edit their pieces but not have access to the entire main Photoshop document, this might be done using layers that are actually linked external documents, the way people often work in Adobe InDesign and video editing applications. They would edit files that are only their pieces of the main Photoshop document, and when they’re done and you get the files back you would add them to the main Photoshop document using File > Place Linked. Those files would then appear as layers, and you would position and composite them as needed.

The reason linked files are important is to support your goal of multiple rounds of editing. If you see something to improve in a layer that was supplied by someone else, you simply tell them to make the change and send it again, you replace the file on your end with the updated one, and when you open the main Photoshop document again, the layer linked to that external file is automatically updated. That is one reason working with linked external files is so valuable in many creative fields.

But it’s a little more complicated to pull off. If this sounds more like the answer you want, reply and I’ll write out the steps.

This isn't something that can be done. You may need to find an entirely different model for making this work, which doesn't involve Photoshop at all.