An ADGM SPV must have a minimum of one natural person appointed as a director at all times. This is the minimum number required by the ADGM Companies Regulations.

A company may choose to amend their Articles of Association (Articles) and include a requirement for a higher number of directors to be maintained. If the Articles have not been amended, then the statutory minimum will apply.

There is no maximum number of directors, unless the Articles have been amended to include a maximum number. However, we would caution against maintaining a board with too many directors as this will make the management of the company difficult. Written resolutions, which are the most common way for a company to approve matters, require unanimous consent and this can be difficult and time consuming if a company has a large number of directors.