An international law firm has journeyed to a place where few legal eagles have ventured before by setting up an office in Iran.
CMS today revealed that it opened its office in the Iranian capital of Tehran yesterday, making it the first major international law firm to launch in the country.
The legal firm first started eyeing a move the country after president Hassan Rouhani was elected in 2013, which sparked negotiations to lift sanctions with other countries.
"At CMS, we look to expand into regions where we see change and where we expect that there will be future opportunities. After the lifting of sanctions, we now see this in Iran," said Cornelius Brandi, executive chairman of CMS. "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."
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Hubertus Kolster, managing partner of CMS Germany, added:
"Setting up a CMS office in Tehran is a clear demonstration of our commitment and underlines the importance of the market in Iran and the Middle East. This will enable us to provide local support for our clients and investors on projects in Iran. It is also another milestone for our firm in the development of innovative and cross-border legal services."