UG is a legal entity in Germany, its full name is Haftungsbeschränkt. It is a form of limited liability company under joint ownership. UG does not participate publicly in the market, requires a minimum of one shareholder and at least one director. Unlike other companies, UG does not need to appoint a legal representative, have a local person serve as a director, or have a company secretary. The minimum registered capital for UG is theoretically 1 euro, but it is recommended to be 100 euros for smoother company registration, tax number application, and company account opening. UG also does not require verification of capital, but the company must contribute a certain amount from its turnover as registered capital annually, until reaching 25,000 euros. In summary, UG is a flexible and simple legal entity suitable for small businesses and entrepreneurs.