32It should be borne in mind that Article 49 TFEU requires the elimination of restrictions on freedom of establishment. That freedom includes, for companies established in accordance with the legislation of a Member State and having their registered office, central administration or principal place of business within the European Union, the right to exercise their activity in other Member States through a subsidiary, branch or agency (judgment in Commission v Germany, C‑591/13, EU:C:2015:230, paragraph 54 and the case-law cited).
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