Third-country groups, subsidiaries and branches

What is the requirement, in plain English?

For a third-country undertaking's EU subsidiary or branch, the earlier rule applies only where the subsidiary is above EUR 200 000 000 net turnover, or the branch generated more than the same figure in the preceding year, and only where the third-country undertaking, at group level or failing that individually, had turnover in the Union above EUR 450 000 000 in both of the two most recent financial years. A financial holding undertaking whose subsidiaries run independent business models and operations may decide not to publish the report.

What evidence does a regulator or an auditor ask for?

The third-country scope note: the two-year EU turnover test, the subsidiary or branch test, and, where the holding option is used, the evidence that the subsidiary business models are independent.

Which dates matter?

• Transposition of Articles 1, 2 and 3: 19 March 2027

The transposition deadline for Articles 1 to 3 of the amending directive is 19 March 2027 (Article 5). For Article 4 it is 26 July 2028, applied from 26 July 2029.

What does it cross-reference?

• 2013/34/EU Article 1(3)
• Article 29a

How do I check a draft against this provision?

Paste your draft into the reading. The reading returns, per provision, whether a phrase specific to this requirement appears in your own words, quoted, with the article cited here. Where a line reaches nothing it reads no mapping identified.

Not legal advice; does not certify. Every field on this page carries its own source pointer, and the record is replayed by the pages, the check and the export from one reviewed record.