Affiliate

An affiliate is a business enterprise located in one country which is
directly or indirectly owned or controlled by a person of another country
to the extent of 10 percent or more of its voting securities for an
incorporated business enterprise or an equivalent interest for an
unincorporated business enterprise, including a branch. For outward
investment, the affiliate is referred to as a "foreign affiliate"; for
inward investment, it is referred to as a "U.S. affiliate."