A bandgap voltage reference circuit which provides a bandgap reference voltage without requiring a resistor. The circuit comprises an amplifier having an inverting input, a non-inverting input and an output. First and second bipolar transistors are provided which operate at different current densities each coupled to a corresponding one of the inverting and non-inverting inputs of the amplifier. A load MOS transistor of a first aspect ratio is driven by the amplifier to operate in the triode region with a corresponding drain-source resistance ron. The load MOS device is operably coupled to the second bipolar transistor such that a base-emitter difference (ΔVbe) resulting from the collector current density difference between the first and second bipolar transistors is developed across the drain-source resistance ron, of the load MOS device. A cascoded MOS device of a second aspect ratio is operably coupled to the load MOS device and is driven by the amplifier to operate in the triode region. The first and second aspect ratios are such that that the drain-source voltage of the second MOS transistor (Vds2) is a scaled representation of the base-emitter voltage difference (ΔVbe).