This paper selects SME (Small and Medium-sized Enterprise) and GEM (Growth Enterprise Market) as samples to examine the relationship between actual controller's foreign residency right and the overseas R&D (measured by establishment of overseas R&D Center). We find that firms' actual controller's foreign residency right significantly enhances the overseas R&D development, and that the positive effect is more significant in the subsample where the controller directly controls the company, and in the areas where the marketization is more matured and industrial competitiveness is more incentive. This paper expands the research on economic consequences of actual controllers' foreign residency right, deepens the research on the effects of personal characteristics of actual controllers on corporate governance, and promotes motivations for firms to take full advantage of resources to develop overseas R&D and improve the international competitiveness.