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  2. Branch implies an establishment set up to by parent company, to perform the same business operations, at different location. Subsidiary company is understood as the company whose full or partial controlling interest is held by another company.
    keydifferences.com/difference-between-branch-an…
    A branch commonly refers to a business with operations in different physical locations and markets. In particular, we commonly see the term branch in reference to businesses with operations in more than one country. For instance, a UK-incorporated company may decide to expand its operations to the Netherlands.
    legalvision.co.uk/corporations/subsidiary-vs-branch/
    Branch offices are the most common way of expanding a business through multiple locations in one jurisdiction (e.g., the bank HSBC has nearly 600 branches throughout the UK serving individual population centres). A branch has no distinct ‘legal personality’ from the head office. They are both components of the one broader company.
    joinhorizons.com/branch-versus-subsidiary/
    A branch office is an outlet of a company or, more generally, an organization that – unlike a subsidiary – does not constitute a separate legal entity, while being physically separated from the organization's main office.
    en.wikipedia.org/wiki/Branch_office
    A subsidiary company is an independent legal entity. A branch is an extension of an existing company.
    www.nathantrust.com/insights/a-branch-or-a-subsi…
     
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