You will have to have a single UIView containing your UIImageView and UIButton.
Using InterfaceBuilder first drag the UIImageView and then drag the UIButton inside the parent UIVIew.
Or programmatically you can call the parent UIView's addSubView
method first for the UIImageView and then for the UIButton view
[view addSubview:myImageView]
[view addSubview:myButton]
Either of this approach will place the instance UIButton on top of the UIImageView when the UIView is rendered
Also, FYI, transparency of a View can be controlled through its alpha
property
alpha = 0 being the most transparent and
alpha = 1 being the most opaque
Hope this helps.