Although the corporation is a resident of its' state of incorporation, the owners of that corporation do not have to be residents of Nevada, or for that matter, the United States. Owners come and go, live and die, but the corporation lives on as long as it meets the requirements of the state. In Nevada this equates to filing an annual form and paying a very small fee. Owners, officers and directors are protected from the liabilities of the corporation. As long as the dealings of the corporation do not involve fraud, the directors, owners, and officers will not be faced with lawsuits or seizure of personal assets resulting from the corporation's activities.
All liabilities remain the corporation's responsibility.
Nevada is an avid pro-business state. As such, corporations and individuals do not incur state income taxes. Nevada also offers an umbrella of privacy. No other state offers this extent of respect for your private business. That is why so many celebrities and notable individuals incorporate in Nevada.