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