International firm CMS announced today that it has become the first major international practice to open a dedicated office in the Iranian capital, Tehran.
The office, on Nelson Mandela Avenue in North Tehran, is led by partners of CMS Germany has the right to provide legal advice in Iran.
International sanctions against Iran were lifted last month. Cornelius Brandi, executive chairman of CMS, said: ‘This is a large country with a very well-educated and young population which is open for travel and well-connected internationally. We see many opportunities, especially in energy, technology and automotive.’
CMS will be represented in Iran with its own lawyers, who will also advise on Iranian law and cover all the legal areas expected of a major international law firm. The client base will comprise multinationals and large SMEs from all over the world, as well as from within Iran itself.
CMS has already advised on a co-operation agreement between Daimler and local commercial vehicle manufacturer Iran Khodro Diesel.
In July last year, Devon and Somerset-based private client and commercial firm Everys Solicitors became the first English practice to announce a direct presence in Iran, through the acquisition of a local firm.
US firms are still blocked from direct investment by US government sanctions.