What Defines a “U.S. Person” for the Purposes of Regulation S?

Under Regulation S, a "U.S. person" is broadly defined to include any natural person resident in the United States. It also includes any partnership or corporation organized under U.S. law, any estate or trust of which the executor or trustee is a U.S. person, and any agency or branch of a foreign entity located in the U.S. The definition is designed to be comprehensive to ensure that any individual or entity with a significant connection to the U.S. is treated as a U.S. person for the purpose of securities regulation.