What's the difference between an Importer of Record and a Foreign Importer?

A Foreign Importer is a non-resident entity that's been granted permission to act as IoR in some jurisdictions. The US allows this through a customs bond. The EU is more restrictive and generally requires an EU-established entity. The legal liability and compliance burden are similar; the entity registration mechanics differ. In practice most brands use a local IoR partner because the foreign importer route adds compliance overhead without removing risk.