Any issuer which is a foreign government, a national of any foreign country or a corporation or other organization incorporated or organized under the laws of any foreign country (Rule 405, Securities Act; Rule 3b-4, Exchange Act) (17 C.F.R. § 230.405; 17 CFR § 240.3b-4).

For the definition of "foreign issuer" under Regulation S, see domestic issuer/foreign issuer.

For an overview of how foreign sovereign governments and their political subdivisions offer and guarantee debt securities in the US registered and issued under Schedule B of the Securities Act, see Practice Note, Schedule B Sovereign Debt Issued under the Securities Act.