31 C.F.R. § 800.213 Foreign person.
Title 31 - Money and Finance: Treasury
The term foreign person means (a) Any foreign national or (b) Any entity over which control is exercised or exercisable by a foreign interest. Example 1. Corporation A is organized under the laws of a foreign state and is engaged in business outside the United States. All its shares are held by Corporation X, which controls Corporation A. Corporation X is organized in the United States, and is wholly owned and controlled by U.S. nationals. Corporation A, although organized and operating outside the U.S., is not a “foreign person,” and its acquisition of a U.S. person would not be subject to section 721. Example 2. Same facts as in the first two sentences of Example 1, except that Country A through governmental intervenors exercises full decision-making power over Corporation A, including the decisions described in §800.204 (a) through (e). There is a foreign interest which is exercising control over Corporation A, which is a “foreign person.” Example 3. Corporation A is organized under the laws of a foreign state and is owned and controlled by a foreign national. Through a branch, Corporation A engages in business in the United States. Corporation A and/or its branch is a “foreign person” should Corporation A make an acquisition. Its branch business in the United States is also a “U.S. person” which may be the subject of an acquisition. [56 FR 58780, Nov. 21, 1991. Redesignated at 59 FR 27179, May 25, 1994]
Title 31: Money and Finance: Treasury
PART 800—REGULATIONS PERTAINING TO MERGERS, ACQUISITIONS, AND TAKEOVERS BY FOREIGN PERSONS
Subpart B—Definitions
§ 800.213 Foreign person.
