The authorities have enabled up to five people to apply for a Start-up Visa as owners of a single business. However, these individuals would need to meet the prescribed ownership requirements to be eligible for receiving a Start-up Visa. To meet the prescribed ownership requirements:
- Each applicant would need to hold at least 10 percent of the voting rights in the business and,
- The designated organisation and the applicants would need to jointly hold more than 50 percent of the voting rights in the business
Note:
- It is worth mentioning that the voting rights referred to above denote the right of a business owner to vote within a company
- The right to vote remains attached to each share of a business that is outstanding at a given point in time
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