Foreign business ownership is legal in most countries, but almost every country carves out exceptions, and the shape of those exceptions is what you need to research for your specific destination. The common models: fully open economies where a foreigner can own 100 percent of a company in most sectors; partial-ownership regimes where certain industries cap foreign equity at a percentage and require a local partner; and restricted systems where foreigners need government approval, a local sponsor, or special economic zone registration to hold full ownership.
Sector restrictions cluster predictably around land and agriculture, media and broadcasting, defense, banking, telecoms, and sometimes retail, with everything else broadly open. Several countries also distinguish between owning a company and working in it, meaning you can hold shares freely but need a separate work visa to actually run operations on the ground, a trap that catches many first-time founders.
Start with the official investment promotion agency of the country, which publishes the foreign ownership rules plainly and often in English, then confirm structure and visa implications with a local corporate lawyer before committing money. The rules change with governments, so recent official sources beat forum wisdom every time.