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  2. While a branch has no separate legal standing, a subsidiary company is a separate legal entity and has an identity different from its holding company. In case of branches, there may be the joint or separate maintenance of accounts, whereas the subsidiaries maintain their own separate accounts.

    keydifferences.com/difference-between-branch-an…
    Because a branch is not a separate legal entity, increased liability exposure is the main disadvantage of this easy approach.
    www.jmco.com/articles/international-tax/doing-busi…
     
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