foreign corporation

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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 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.

References in periodicals archive ?
If a foreign company produces electric locomotives, we might supply cables necessary for their production.
What is the law regarding marketing/advertising of services for a foreign company through brochures/handouts/ leaflets in the UAE.
The chairman, general manager or CFO of each foreign company led its management team to give presentations on business activities, financial conditions, industry reports, business plans and development strategies.
Noahtani said that the foreign company Tethyan Copper Company (TCC) had caused severe threat to the wild life and created environmental hazards in the last 20 years with the usage of lethal cyanide gas.
The new tax law also clarifies that a PE can be created for a foreign company through a dependent agent.
This is achieved by taking a foreign company public and at the same time causing the foreign company to acquire the stock of the U.
However, this provision is subject to specific exceptions, such as the taxation of a foreign company at a rate higher than that of a domestic company is not considered as a less favourable charge in respect of the foreign company.
This will allow us to legally pay all our workers in hard currency," said a manager of a major foreign company in Cuba.
The so-called ''triangular'' merger formula allows a Japanese subsidiary of a foreign company to acquire a Japanese firm by swapping shares of the foreign parent for all or a sizable portion of the target company's shares without using any cash to fund the acquisition.
Eight out of ten foreign company presidents who visit So Fast choose us," says Ito.
Prime Minister Junichiro Koizumi's cabinet sent legislation to the Diet in March that would delay for one year the ability of a foreign company to buy a Japanese firm with foreign shares.
taxpayer's basis in the stock of the foreign company is $50, and this foreign company will be considered a $50 foreign asset for interest expense apportionment purposes.

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