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Almost 1,700 companies have already abandoned Catalonia

In only 18 working days have gone triple of those who left in the previous nine months

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Almost 1,700 companies have already abandoned Catalonia

The flight of companies in Catalonia continues at a very fast pace. Since illegal referendum of October 1, number of companies that have left community amounted to 1,681 until last Thursday 26 of October, according to data provided by College of Registrars. On contrary, in that period only 71 societies have reached community.

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Between January and September y had only moved ir headquarters outside Catalonia 548 companies. In just 18 working days, triple has gone. The Generalitat has argued that se moves obeyed political pressures. But motivations that have put companies to take exit door have been quite different: legal uncertainty, fear of losing euro umbrella, danger of running out of funding, risk of tariffs, a hypotical loss of Business and market, stability demands of investors, prospect of a struggle between two different tax agencies or risk of an economic crisis.

Among companies that have left are large corporations such as planet, Natural Gas, CaixaBank, Sabadell, Abertis, Catalan Occident, Cellnex, Applus, EDreams Odigeo, Bimbo, Codorniú, Aguas de Barcelona, Torraspapel or Idilia Foods. Only first thirteen quoted that changed ir domicile have a joint capitalization of 84,396,000,000 and a turnover of 49,327,000,000, according to calculations of country extracted from ir accounts of results.

Most, such as Caixabank or Sabadell, have emphasized that decision is not merely temporary. And although in principle it does not have much impact on employment, business or taxes raised, experts indicate that this change of location of directive always ends up dragging part of operations and tends to stop investments in Territory, as happened in Quebec after referendums.

In fact, several have also moved some business units in order to justify new fiscal domicile to tax agency's scrutiny. For example, Sabadell has moved presidency and General Secretariat of entity to Madrid.

The decision of Freixenet or Seat is still pending. Only latter employs about 17,000 workers and needs to have ir production within EU to avoid tariffs.

And all this happens despite what president of Generalitat, Artur Mas, had assured that y would never leave. The Vice-President himself, Oriol Junqueras, stated on day that he announced his march Sabadell that had always been threatened with this but never happened.

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