With a few exceptions, the UK does not discriminate between nationals and foreign individuals in the formation and operation of private companies. U.S. companies establishing British subsidiaries generally encounter no special nationality requirements on directors or shareholders, although at least one director of any company registered in the UK must be ordinarily resident in the UK. Once established in the UK, foreign-owned companies are treated no differently from UK firms. Within the EU, the British Government is a strong defender of the rights of any British- registered company, irrespective of its nationality of ownership.The UK was the world's ninth largest recipient of foreign direct investment in 2013, slipping from sixth position in 2012, receiving USD 53 billion (GBP 31.62 billion at an exchange rate of USD 1.66 to GBP 1), according to the United Nations Conference on Trade and Development (UNCTAD) latest available figures. Despite the drop in ranking, inflows increased 22% over 2011. The UK attracted 18% of all EU FDI inflows, the highest percentage for a single EU country, but this position may change with Germany's share of FDI rising for the fifth year in a row to reach 16%. The United States remains the primary source of FDI into the UK. In FY 2012-2013, the United States contributed 39% of all inward investment projects to the UK and over 30% of all inward investment-generated jobs.