About 2,000 Catalonia-Based Firms Leave Region Amid Ongoing Crisis - Reports

Previously, Madrid has adopted a law, which facilitates the moving operations for Catalonia-based companies to other regions in the wake of the independence referendum dubbed illegal by the Spanish authorities.

MOSCOW (Sputnik) — A total of 1,982 companies headquartered in Catalonia have decided to change their legal address and relocate offices to other Spanish regions following the October 1 independence referendum, El Pais newspaper reported, citing the Spanish Business Registration Union.

After the Catalan parliament voted to unilaterally declare independence from Spain, 140 companies have relocated their offices to other regions, while on October 31, a total of 99 companies left Catalonia.

READ MORE: What Happens Next? Four Key Questions for Understanding Catalonia's Future

Most companies explained their withdrawal from the region by the fact that they would be able to avoid legal uncertainty caused by the political and social situation in Catalonia.

Following the independence referendum considered illegal by Madrid, in which over 90 percent of Catalans voted in favor of secession from Spain, the government adopted a law making it easier for Catalonia-based companies to move operations to other regions of the country.