Branches can have separate accounts. Branches are usually unincorporated entities. According to management needs, they can set up separate accounts or conduct separate economic exchanges. The head office can manage the account according to regulations, or it can require the branch account not to withdraw cash through administrative requirements. A branch is a branch, which is not independent in law and economy, but a subsidiary of the head office. Moreover, the branch does not have its own name, articles of association and property, and it is legally liable for the debts of the branch with the assets of the head office. To establish a company, the articles of association must be formulated according to law. The Articles of Association are binding on the Company, shareholders, directors, supervisors and senior management. The main difference between branches is taxation:
1, non-independent accounting, unable to open a separate basic account, unable to receive invoices separately, can set up a separate account in the head office for unified tax payment;
2, independent accounting, you can open a separate basic account, you can receive invoices or pay taxes separately.
Legal basis: Article 14 of the Company Law of People's Republic of China (PRC).
Companies can set up branches. The establishment of a branch company shall apply to the company registration authority for registration and obtain a business license. A branch company does not have legal person status, and its civil liability shall be borne by the company. A company may set up subsidiaries, which have legal personality and independently bear civil liabilities according to law.