C-Corporation

A corporation is owned by shareholders, run by directors and officers, and taxed as a separate entity on Form 1120. Profit paid out as dividends is taxed again when shareholders receive it, which is the double taxation people talk about. It can issue stock and options, which is why venture investors' paperwork assumes one.

A non-resident can own and run a C-Corporation. What a non-resident can't own is an S-Corporation.