I established a company with my friend and applied for registration as an officer. The capital is 5 million yen, but can the both of us obtain Business Manager visas?
It would be difficult for both to obtain Business Manager visas for a newly established company. There are exceptions but generally only one Business Manager visa will be granted for a new corporation.★ Explanation ★
Though it would be a different case if there were a rational reason for having multiple individuals assigned at management roles, in the case of a regular, newly-established corporation, only one application for the Business Manager visa is usually approved.
Though requirements will differ depending on whether you are engaged in administrative or management activities, there are times when, theoretically speaking, it would be impossible for one person to manage a certain number of employees; if it is necessary for the organization of the company; or may be needed in view of the amount and contents of work.
Even if you establish a company with a total of 10 million yen by investing 5 million each, it does not mean that both of you will get Business Manager visas. In such a case, the best way is for one person to apply for the Business Manager visa while the other applies for the “Engineer/Specialist in Humanities/International Services” visa, so that both of you will be under the same company. See also Q100.