Possessions Corporation Daniel Guidotti 14 years ago Possessions CorporationU.S. corporation that is active in American possession overseas. These corporations can avail of a tax benefit for the dealings carried out in possessions, similar to the tax credits a foreign subsidiary can avail of.Recommended for you:Controlled Foreign Corporation (CFC) Foreign Sales Corporation (FSC) Mortgage-Backed Securities Clearing Corporation Overseas Private Investment Corporation (OPIC)