Not applicable for this jurisdiction.

Branch

Not applicable – this is subject to the requirements of the foreign company's place of incorporation.

Proprietary company

Shares of a proprietary company have no par value. The "issue price" is determined by directors at the time of issue, and whether a share is fully or partly paid is determined by reference to the amount of the issue price that has been paid to the company.

Public company

Shares of a public company have no par value. The "issue price" is determined by directors at the time of issue, and whether a share is fully or partly paid is determined by reference to the amount of the issue price that has been paid to the company.

Stock corporation (AG)

The statutory minimum par value of stock is EUR1.

Limited liability company (GmbH)

The statutory minimum par value per share is EUR70.

Flexible Company (FlexKapG)

The statutory minimum par value per share is EUR1.

With Limited Liability (WLL)

No express provision.

Closed Shareholding Company (BSC(c))

The company's articles of association shall specify the nominal value of the share.

Foreign Branch (Branch)

No express provision.

Public limited company (société anonyme/naamloze vennootschap)

Unless the articles of association or the decision concerning the issue of shares provides otherwise, the fractional value of all issued shares without nominal value and which are of the same class will be equal, regardless whether the shares are issued below, above or equal to the fractional value of the shares of the same class.

A detailed report on the transaction must be drawn up by the board of directors, which relates in particular to the issue price and the consequences of the transaction with respect to the membership and financial rights of the shareholders.

A report is drawn up by the statutory auditor or, in their absence, by a company auditor or certified accountant appointed by the board of directors, in which they declare that the financial statements and accounting data included in the report of the board of directors are true and sufficient to inform the shareholders meeting that votes on the proposal.

Limited company (société à responsabilité limitée/besloten vennootschap)

As the limited company does not have any capital, the shares in a limited company have no par value or nominal value.

Belgian branch office of a foreign company

Not applicable as a Belgian branch office has no issued shares.

Limited liability company (Sociedade Limitada)

The quotas of a Sociedade Limitada must have a determined par value established in the articles of organization.

Corporation (Sociedade Anônima)

Par value is not required.

Corporate subsidiary 

For federal companies and most provincial and territorial companies, shares are issued without nominal or par value.

Not applicable for this jurisdiction.

Not applicable for the jurisdiction.

There are no requirements.

Limited liability company

The statutory minimum par value per share is CZK1.

Joint stock company

The statutory minimum par value of stock is not prescribed.

Limited liability company (Kapitalselskab)

Stocks cannot be subscribed at a price below par.

JSC

Minimum par value per share is EGP1 and maximum EGP1,000.

LLC

Quotas must be equal in value.

OPC

Single founder with all equity issued to be of equal value.    

Branch

Not applicable for this jurisdiction.

RO

Not applicable for this jurisdiction.

Osakeyhtiö (Oy)

Par value may be used but it is not mandatory.

Société par actions simplifiée (SAS)

There is no statutory minimum par value of stock.

Société à responsabilité limitée (SARL)

There is no statutory minimum par value of stock.

Société anonyme (SA)

There is no statutory minimum par value of stock.

GmbH – limited liability company

The registered nominal amount must be at least EUR 1 per share and – in case of a higher amount per share – must be a full Euro amount.

Societe anonyme (S.A.)

Nominal value of each share may not be fixed at an amount lower than EUR0.04 and higher than EUR100. The issue of shares below par is prohibited.

The issue of shares below par is prohibited.

Limited liability company (L.L.C.)

Not less than EUR1.

Private company (P.C.)

Not less than EUR1.

Limited private companies

No par value.

Private company limited by shares (Zrt.)

A par value (ie, face value) and an issue price can differ for the same share. However, the share's issue price cannot be less than its par value.

Under applicable law it is also possible to issue no par value shares.

Limited liability company (Kft.)

The capital contribution of each quotaholder must be at least HUF100,000 (USD250). 

Private limited company

No minimum par value for private limited companies. Normally, used par value is INR 10 per share.

Limited liability company

Under the Indonesian Company Law, all shares must be issued with a par value or nominal value denominated in Rupiah, except for publicly owned companies that may issue shares without any par value.

Private company limited by shares (LTD)

All allotted shares must have a fixed nominal value.  Shares must not be allotted at less than nominal value but may be issued at a premium.  There is no statutory minimum nominal value.

External company

Determined by the laws of the jurisdiction of incorporation.

Company

Nominal value is not required. However, when used the nominal value will generally not be lower than NIS0.01 per share.

Branch / representative office

Not applicable.

Società a responsabilità limitata (S.r.l.)

Not applicable for this jurisdiction.

Registered branch

Depends on the governing law.

Kabushiki-Kaisha (KK)

None.

Godo-Kaisha (GK)

None.

Private limited liability company (Société à responsabilité limitée or S.à r.l.)

Shares may be issued with or without nominal value. Shares with different nominal values may be issued.

Public limited liability company (Société anonyme or S.A.)

Shares may be issued with or without nominal value. Shares with different nominal values may be issued. Special limited partnership (Société en commandite spéciale or SCSp)

Partnership interests may be represented by partnership units or interests.

Not applicable for this jurisdiction.

Any shares created or issued after the commencement of the Companies Act shall be shares with no par value.

With respect to a company applying for or holding a Global Business License or an Authorized Company or company applying as Authorized Company, shares at par value may be issued.

S.A. de C.V.

MXN1.00, or shares may be non-par value shares.

S. de R.L. de C.V.

MXN1.00, or a multiple of it.

S.A.P.I. de C.V.

MXN1.00, or shares may be non-par value shares.

Branch office

Determined by governing law of the head office.

B.V. (private company with limited liability)

The Minimum par value per share can be denominated in Euro or any other currency.

Co-operative U.A.

Not applicable. A co-operative does not have a capital divided into shares.

C.V. (a limited partnership)

Not applicable. A CV does not have a capital divided into shares.

Limited liability company

Shares of limited liability companies are not permitted to have shares issued at par value. The 'issue price' is determined by the Board at the time of issue, and it must be fair and reasonable to the company and the existing shareholders except where all entitled persons agree otherwise. Whether a share is issued fully or partly paid is determined by reference to the amount of the issue price paid by the subscribing shareholder to the company.

Branch

Not applicable, this is subject to the requirements of the overseas company's place of incorporation.

Every company on incorporation is required to state the amount of its issued share capital and the division into shares and the par/nominal value of the shares. However, the law does not stipulate the minimum par value of the shares of a company; it is fixed at incorporation but may be changed by members’ resolution amending the Memorandum of Association.

The number of shares and the par value of the stock have to be at least equal to the minimum share capital of a private LLC and a public LLC.

Not applicable for partnership.

Not applicable for this jurisdiction.

Generally not applicable.

Exception is a subsidiary where any or all of shares or series of shares may have a par value or have no par value as may be provided for in the articles of incorporation, except for banks, trust companies, insurance companies, public utilities and building and loan associations (not permitted to issue no-par value shares of stock).

The registered nominal amount must be at least PLN50 per share in limited liability companies and at least PLN0.01 per share in joint-stock companies and limited joint-stock partnerships.

LDA. companies’ quota: at least 1 EUR par value; S.A. companies’ shares: at least EUR 0.01 par value (shares with no nominal value are also permitted).

Corporations

USD0.01 or non-par value.

Limited Liability Companies

Not applicable for this jurisdiction.

Joint stock company (JSC)

• Minimum nominal value per share amounts to RON0.1

Limited liability company (LLC)

• Minimum nominal value per share – no minimum value

Joint-stock company (public and non-public)

The par value of all common shares of the company must be equal. The par value of the preferred shares must not exceed 25 percent of the charter capital of the company.

Limited liability company

Not applicable.

Limited liability company

Shares have to be equal in value.

Limited liability company

In Singapore, shares of a company have no par value or nominal value.

Private and public companies

Companies incorporated on or after May 1, 2011 are only allowed to have no-par value shares (subject to exceptions only if required in terms of other legislation).

Pre-existing companies may have par value shares or no-par value shares, but they are not allowed to increase their number of authorized par value shares. If an increase in the number of authorized shares of a class with par value is required, conversion of such shares to no-par value must first be implemented.

External companies

Regulated by the foreign company's place of incorporation.

Joint-stock company (Jusik Hoesa)

Minimum capital per share is KRW100; shares without par value may be issued, in which case shares with par value cannot be issued.

Limited company (Yuhan Hoesa)

Minimum capital per unit is KRW100.

Branch (Sucursal)

Not applicable (branches do not have stock).

Limited liability company (Sociedad Limitada)

There is no statutory minimum par value.

Joint-stock company (Sociedad Anónima)

There is no statutory minimum par value.

None.

Stock corporation

The nominal value of a share must be larger than zero.

Company limited by shares

A company may issue either par value shares or no-par value shares.

Closely-held company limited by shares

A CHC may issue either par value shares or no-par value shares.

Limited company

Not applicable for this jurisdiction.

Branch office of a foreign company

Not applicable for this jurisdiction.

Private limited company

Minimum par value of each share is THB5.

Public limited company

Minimum par value of each share is not specified. However, each share must be equal in value.

Joint-stock company (JSC)

Nominal value of minimum KR1 (TL0,01).

Limited liability company (LLC)

Value of any share cannot be less than TL25.

Limited Liability Company

The participation interest must have a fixed par value. Participation interest must not be allotted at less than par value. There is no statutory established minimum par value.

Private Joint-Stock Company

All shares must have a fixed par value. Shares must not be allotted at less than par value. The minimum par value of the share is UAH 0.01.

LLC

No express provision.

Branch

Not applicable for this jurisdiction.

FZ-LLC

No express provision.

FZ-Branch

Not applicable for this jurisdiction.

Dual Licensee Branch

Not applicable for this jurisdiction.

Private limited company

All allotted shares must have a fixed par value. Shares must not be allotted at a discount to their par value but may be issued at a premium. There is no statutory minimum par value.

Limited liability partnership (LLP)

No statutory requirements. Requirements governed by LLP Agreement.

Registered UK establishment

Not applicable for this jurisdiction.

For corporations, this will vary depending on the jurisdiction in which your corporation is organized. Some states, such as Delaware, require a par value. Other states, such as California, do not require any par value. For an LLC, par value is not required.

Generally, no requirement, except when listing a joint stock company where the par value of the stock offered for first-time sale to the public is VND10,000.