A foreign corporation is a corporate entity formed in a state different than Illinois. Such corporations, if they transact business in Illinois, must be registered to do business in Illinois. Now there is a somewhat convoluted test to determine what “doing business” in fact consists of, but for purposes of a real estate transaction this test is more likely than not necessary. The reality of this scenario can be much simpler. For purposes of the real estate transaction the best course of action is to secure a certificate of good standing from the state of incorporation of the business entity purchasing/selling the real estate. An additional, but not necessarily a required, step is to then secure verification that the foreign corporation has filed to transact business with the Secretary of State here in Illinois. A resolution is to be executed by the board of directors authorizing the transaction and authorizing a party to sign the documents. Basically following the process necessary for a domestic Illinois corporation