Yes, if the foreign person or business provides services on a contractual basis and the services provided are performed outside of the U.S., then there is no requirement to withhold U.S. taxes on these payments.

However, if the person providing the services is also a primary stockholder, then this payment may be re-classified by the I.R.S. as a dividend and the deduction disallowed so care must be taken when structuring your U.S. Company.