MADRID (Sputnik) – The Spanish government adopted on Friday a law making it easier for Catalonia-based companies to move operations to other regions of the country, Spanish Economy Minister Luis de Guindos said.
“We have approved this legislative change at the request of several business groups,” he said.
The law implies an easier procedure for the companies to change their legal address. According to the legislation, the decision of the Board of Directors is enough without convening a meeting of the shareholders, even if companies’ charters say otherwise.
The Gas Natural Fenosa energy company will convene a meeting of the Broad of Directors on Friday, while the Catalana Occidente insurance company has also announced plans to "undertake respective measures in the interests of clients, employees and shareholders."
The move comes several days after the independence referendum was held in Catalonia on Sunday, which is not recognized by Madrid. According to the Catalan authorities, slightly more than 2 million people out of 5.3 million of those eligible to vote cast their ballots, and 90 percent of them backed independence. Almost 900 people had to seek medical help because of the clashes between referendum supporters and police on the day of the vote.
The uncertain future of Spain's autonomous region hasn't so far negatively affected the real estate market at the moment and foreigners are likely to keep buying property in Barcelona and neighboring towns, according to Tine Mathiassen, a founder of a Danish real estate company Casamona International based in Barcelona. Meanwhile, the co-founder and executive manager of Barcelona Zero Limits S.L., specializing in tourism and inclusive tourism, told Sputnik that tourism agencies have a mostly positive outlook on the business prospects, only slightly tinged with concern.
