What is the difference between opening a wholly-owned subsidiary and opening a branch abroad? What are the policies for social security accumulation fund and tax payment?

The biggest difference is that the subsidiary is an independent legal person and bears civil liability independently; The branch is not an independent legal person and has no legal personality, and its civil liability shall be borne by the head office.

To set up a subsidiary, an application must be made in strict accordance with the requirements for setting up a company, and business can only be started after obtaining a business license and going through relevant formalities according to law; As a branch of the head office, the branch only needs to go through simple registration and opening procedures when it is established.

Parent companies and subsidiaries are like mothers and children. Although they are related by blood, they are independent of each other and their children can decide how to live. The head office and branches are like trees and branches. Although they have branches, they are a whole after all, and everything is dominated and provided by the trunk.