Global e-report 2016 | Page 7

Global annual report an opportunity to win business on the “private client side”, according to Pena. Excess of liquidity There are significant opportunities for Portuguese law firms to advise international investors on inbound investment, particularly in the real estate and finance sectors, says ABBC partner Nuno Azevedo Neves. “There is an excess of liquidity in the international market, investors are looking for good opportunities and there will be transactions – there are also a lot of opportunities in other Portuguesespeaking countries,” he adds. Miranda managing partner Diogo Xavier da Cunha says that, aside from consolidating growth in Lusophone Africa, the firm has been developing business in Francophone Africa, specifically in countries such as Cameroon, the Democratic Republic of the Congo, Congo Brazzaville and Gabon. However, he says that it is not easy to win business in such markets where there is “competition from French firms”. Xavier da Cunha have opened a UK representative adds that, despite the fact that office, we also have a Swiss desk the natural resources sector is and a Nordic desk – we want to be “suffering” and some international more visible in a global sense,” he investors have decided to stop says. “We have also expanded our investing in Africa, he believes it is reach to Brazil, we have a partner a continent with a lot of potential in the future. High-networth individuals, Cheap debt is the driver particularly based of activity – the Asian in France and Brazil, are making a economy is struggling, but significant number of there are opportunities in small investments in Latin America and Central Spain and Portugal, says SRS Advogados America. partner Gonçalo Pedro Siza Vieira Anastácio. He adds Linklaters that, due to recent EU regulation, there there twice a month, there is a are also significant opportunities lot of inbound work from there.” to advise foreign investors on Meanwhile, Pena highlights the issues relating to data protection opening of CMS’s office in the and private enforcement of Iranian capital of Tehran earlier this competition law. year: “There is a lot of demand from Portuguese clients [for advice in Iranian demand Iran], which was unexpected.” PLMJ partner Hugo Rosa Ferreira Portuguese-speaking countries says that his firm has adopted a in Africa provide the most feasible strategy of expanding its reach to international opportunities for other jurisdictions in order to raise Portuguese law fir