For example, the relationship between the branch, subsidiary and the parent company.

例如企业的分公司、子公司与总公司的关系。

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An MNC may decide to establish a branch rather than a subsidiary because of a given tax situation.

一个跨国公司，由于特定的税收环境，就可能决定建立分公司而不建立子公司。

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The branches shall take the form of a subsidiary company, (central) branch company, or business office.

分支机构应采取分公司、(中心)支公司、营业部的形式。

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In 2012, Bank of Cyprus PCL, the largest Cypriot bank, converted its U.K. branch into a subsidiary under pressure from U.K. authorities.

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The Yemeni branch has tried to open an Egyptian subsidiary.

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The decision to set up a subsidiary in a new market (as opposed to just opening a branch) may be a harder one for boards, since it involves legal incorporation and taking on personal liabilities.

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