Definition of Foreign corporation
A corporation doing business in one state though chartered or incorporated in another state is a foreign corporation as to the first state, and, as such, is required to consent to certain conditions and restrictions in order to do business in such first state. Rev. Model Bus. Corp. Act § 1.40. Under federal tax laws, a foreign corporation is one which is not organized under the laws of one of the states or territories of the United States. I.R.C. § 7701(a)(5). Service of process on foreign corporations is governed by Fed.R.Civil P. 4. See also Corporation; Controlled foreign corporation.
U.S. owned foreign corporation. A foreign corporation in which 50 percent or more of the total combined voting power or total value of the stock of the corporation is held directly or indirectly by U.S. persons. A U.S. corporation is treated as a U.S.-owned foreign corporation if dividend or interest income paid by such corporation is classified as foreign source under I.R.C. § 861.
That's the definition of Foreign corporation in Black's Law Dictionary 6th Edition. Courtesy of Cekhukum.com.
