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Company Formation 
memorandum and articles

6. What share capital is required?

The company can be incorporated with any amount of share capital. These shares are issued to the subscibers (initial shareholders) of the company. On incorporation it will only be necessary for you to pay into the company the amount for the shares that have been issued to the subscibers which may be as little as £1 for the subscribers share for a private limited company, £2 for a public limited company and £2 for a flat management company.

Under the Companies Act 2006 a company no longer has authorised share capital.