Define: Foreign Corporation

Foreign Corporation
Foreign Corporation
Quick Summary of Foreign Corporation

A foreign corporation refers to a business entity that is incorporated or registered in a jurisdiction (typically a state or country) other than where it conducts its primary operations or business activities. For example, if a corporation is incorporated in one state within the United States but operates primarily in another state, it is considered a foreign corporation in that other state. Similarly, if a corporation is incorporated in one country but operates in another country, it is considered a foreign corporation in the country where it operates.

Foreign corporations must comply with certain legal requirements, such as registering with the appropriate regulatory authorities and obtaining licenses or permits to conduct business in a jurisdiction where they are considered foreign. These requirements ensure that foreign corporations are subject to local laws, regulations, and taxation in the jurisdictions where they operate. Additionally, foreign corporations may be subject to special taxes or fees for doing business in a jurisdiction other than their state or country of incorporation.

What is the dictionary definition of Foreign Corporation?
Dictionary Definition of Foreign Corporation
n. a corporation which is incorporated under the laws of a different state or nation. A "foreign" corporation must file a notice of doing business in any state in which it does substantial regular business. It must name an "agent for acceptance of service" in that state, or the Secretary of State in some jurisdictions will automatically be that agent so people doing business with a foreign corporation will be able to bring legal actions locally if necessary. Example: the Whoopee Widget Corporation is incorporated in Delaware. It has a sales office in Arizona, which does not make a guaranteed refund to Jack Jones of Arizona. Jones can sue Whoopee in Arizona and serve the Arizona Secretary of State or Whoopee's designated agent.
Full Definition Of Foreign Corporation

Definition 1

A corporation which was incorporated under the laws of a foreign country; here also called an alien corporation.

Definition 2

A corporation doing business in a state other than the one in which it is incorporated; here also called out-of-state corporation; opposite of domestic corporation.

Related Phrases
Disclaimer

This site contains general legal information but does not constitute professional legal advice for your particular situation. Persuing this glossary does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.

This glossary post was last updated: 29th March, 2024.

Cite Term

To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

  • Page URL:https://dlssolicitors.com/define/foreign-corporation/
  • Modern Language Association (MLA):Foreign Corporation. dlssolicitors.com. DLS Solicitors. March 29, 2024 https://dlssolicitors.com/define/foreign-corporation/.
  • Chicago Manual of Style (CMS):Foreign Corporation. dlssolicitors.com. DLS Solicitors. https://dlssolicitors.com/define/foreign-corporation/ (accessed: March 29, 2024).
  • American Psychological Association (APA):Foreign Corporation. dlssolicitors.com. Retrieved March 29, 2024, from dlssolicitors.com website: https://dlssolicitors.com/define/foreign-corporation/