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  2. A subsidiary is a separate legal entity fully or partially owned by another company, whereas a branch is simply an extension of the parent company. The subsidiary reports to the holding company, whereas the branch reports to the head office.
    www.nathantrust.com/insights/a-branch-or-a-subsidiary-whats-the-difference
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    What is a subsidiary, exactly?A **subsidiary** is a company that is more than 50% owned by another company, usually the parent company or holding company .Subsidiaries are separate and distinct legal entities from their parent companies,
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