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You have to abide by the Articles of Association of the Company. Typically, as a director you can allot and register shares to whoever you please and those people would share ownership. What you have heard to the contrary probably relates to a situation where a director or directors have the right NOT to register a share transfer. In any event you can allot shares and yes you would want to retain a higher percentage to retain control. A better way might be to amend the Articles to create different classes of share, e.g., A shares which would carry voting rights and B shares which would not. That way your investors can carry B shares for dividend purposes but only the holder of the A shares would control the company. I hope that helps. Please leave a positive rating so that I am credited for my time.