ALICANTE is continuing to reap a bonus from the Catalan independence movement.
The more than 60 Catalan companies that changed their registered office to the Costa Blanca city in 2019 make it more than 560 companies that have made the move to the Valencian Community since Catalonia voted to separate from Spain in an ‘illegal’ referendum in 2017.
In total, 144 companies moved their headquarters to the Valencian Community last year – 62 each to Alicante and Valencia and 20 to Castellon, according to the latest data from the College of Registrars.
The “flight” of Catalan companies was more intense in the year following the vote. Some have since returned but a total of 563 Catalan companies have set up their headquarters in the region since 2017 – 298 in Valencia, 158 in Alicante province and 107 in Castellón.
The most significant case in Alicante was the transfer of the headquarters of Banco de Sabadell, which a few days after the independence referendum decided to make the change. CaixaBank made the move to Valencia at the same time.
Business organisations believe that this flight of companies seeking long-term stability and security will continue until the Catalan crisis is resolved.