Under the assumed continuous real differentiability, the necessary and sufficient conditions are the Cauchy-Riemann equations at every point of :
Necessity follows by computing the complex derivative along real and imaginary increments. For sufficiency, real differentiability gives the first-order expansion
The Cauchy-Riemann equations turn the linear part into , so the complex derivative exists and equals . Thus is a holomorphic function on .
At any , take sufficiently small so . The complex difference quotient is
Hence the complex derivative exists at every point of the punctured plane, and
The excluded point is essential to the domain statement: the reciprocal has a simple pole there.
Write . Both moduli are nonnegative, so squaring preserves their strict inequality:
Thus
The boundary is the perpendicular bisector of and in the complex plane; the strict inequality selects the half-plane containing .
Use the reciprocal Möbius transformation
It is a holomorphic function on by part (b). For ,
Part (c) now gives if and only if , so . Conversely, because . For any , put ; the same identity gives , so and . Finally, reciprocation is injective on nonzero complex numbers. This proves bijectivity, with inverse
The inverse is also holomorphic, so this is a biholomorphism.

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