Generally, U.S. securities law only really cares about U.S. investors. U.S. laws are made to protect U.S. peoples. So, the SEC doesn’t care that much about how you treat foreign investors. At the same time, the jurisdiction of that investor’s country will care, so you will want to make sure that you’re not violating the laws of another country.
In dealing with foreign investors, there may be some tax considerations, so you will want to connect with your CPA or international tax attorney about the specifics. From a securities law perspective, you’ll want to make sure that you get documents that reflect or consider the fact that an investor might be foreign. For our documents, we actually draft an additional questionnaire that foreign investors have to fill out.
Additionally, to the extent your foreign investor is funding in an untraditional manner (i.e., bitcoin or cryptocurrency, as opposed to something through the formal banking system), they will need to go through AML/KYC verification.
You’ll also want to consider whether your offering is offered under just one exemption (Rule 506(b) or 506(c)), or whether it will be offered concurrently under Regulation S.