UAVs operating in a leader-follower formation demand the knowledge of the relative pose between the collaborating members. This necessitates the RF-communication of this information which increases the communication latency and can easily result in lost data packets. In this work, rather than relying on this autopilot data exchange, a visual scheme using passive markers is presented. Each formation-member carries passive markers in a RhOct configuration. These markers are visually detected and the relative pose of the members is on-board determined, thus eliminating the need for RF-communication. A reference path is then evaluated for each follower that tracks the leader and maintains a constant distance between the formation-members. Experimental studies show a mean position detection error (5 × 5 × 10cm) or less than 0.0031% of the available workspace [0.5 up to 5m, 50.43° × 38.75° Field of View (FoV)]. The efficiency of the suggested scheme against varying delays are examined in these studies, where it is shown that a delay up to 1.25s can be tolerated for the follower to track the leader as long as the latter one remains within its FoV.