### Question
What is the definition of foreign personal holding company?


### Answer
The definition of **foreign personal holding company** is as follows in *26 U.S.C. § 552*:

> any foreign corporation if—


#### (1) Gross income requirement


At least 60 percent of its gross income (as defined in section 555(a)) for the taxable year is foreign personal holding company income as defined in section 553

#### Citation:
  - *26 U.S.C. § 552*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter G-Corporations Used to Avoid Income Tax on Shareholders > PART III-FOREIGN PERSONAL HOLDING COMPANIES**

