Wholly owned subsidiary
The financial definition for Wholly owned subsidiary:
A subsidiary whose parent company owns virtually 100% of its common stock.
International finance subsidiaryInternational finance subsidiary
A subsidiary incorporated in the US,
usually in Delaware, whose sole purpose once was to issue
debentures overseas and invest the
proceeds in foreign operations, with the interest
paid to foreign bondholders not subject
to US withholding tax. Elimination of the corporate withholding
tax has ended the need for this type of subsidiary.
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