Branch Office
A Branch Office is a legally registered establishment of a company that operates in a different location or jurisdiction but is not a separate legal entity. The branch forms part of the parent company and conducts business on its behalf.
In North Data, this term is used when an entity is registered as a branch, establishment, or similar extension of another company and is not incorporated as a separate legal entity.
Example:
J.P. Morgan AG - London Branch is registered in the United Kingdom as a UK establishment company. The branch operates from London but remains part of J.P. Morgan AG and does not have its own independent legal personality. Therefore, it is classified as a Branch Office.

Note: "Sole" means that the branch belongs exclusively to and is fully controlled by J.P. Morgan AG. There are no co-owners, minority shareholders, or participation percentages to report.