How is residency of foreign holders determined?
Corporations and subsidiaries of corporations are residents of the country in which they are incorporated or otherwise legally established, not the country of the head office or primary operations. International and regional organizations are always considered to be foreign-resident institutions and are assigned the appropriate international and regional organizations code, not the code of the country in which they are located. (See Appendix D for a complete listing). Bank branches are residents of the country in which they are licensed (not the country of the head office or administrative offices). Partnerships, trusts and funds are residents of the country in which they are legally organized. Individuals are residents of the country of their tax domicile. For example, U.S. residents use IRS form W-9 and foreign residents use IRS form W-8. U.S. residents include organizations located in the Commonwealth of Puerto Rico and U.S. territories and possessions.
