That's right. The other piece of the puzzle is that you have to either show that you're a resident of a foreign country, or that you're physically outside of the USA for 330 days of the year. (as mentioned in the linked article)
[0] http://www.irs.gov/Individuals/International-Taxpayers/Forei...
[1] http://www.irs.gov/Individuals/International-Taxpayers/Forei...