Second international law firm enters the Law market of Iran
Colibri Law Firm has become one of the first international law firms to establish a dedicated office in Tehran after partnering with one of Iran’s leading local law firms, Gheidi & Associates.
As Colibri partner Otabek Suleimanov explains, “We watched the Iranian market for a long time before we even considered entering Iran. It took three years to shape the right entry strategy and another year to finalise negotiations. Iran is the largest market to open up in the post-Soviet era and we see endless opportunities, particularly in the areas of infrastructure, energy, industrials and consumer goods.”
In July 2015, when the Joint Comprehensive Plan of Action was signed, Colibri was already in the final stages of negotiation with a local task force and was therefore even more convinced that the firm’s decision to enter the Iranian market was well-founded.
Ever since the firm’s inception back in 2005, expansion into new jurisdictions has been one of the firm’s major objectives. This regional growth further demonstrates Colibri’s general strategy to focus solely on the emerging markets of Central Asia, which according to UNESCO also includes Iran.
The firm’s local lawyers in Tehran will be fully integrated and will work closely with the relevant practices of Colibri’s five other offices. With the support of all the partners, the Iranian team will be led by partner Otabek Suleimanov, an emerging markets transactional lawyer, Nasim Gheidi, a well-renowned Iranian lawyer and practice head with over twelve years’ extensive legal experience in Iran, and Assel Nassimoldina, a Kazakhstan-based senior managing associate with 10 years’ worth of banking & finance experience.
The Iran team will be able to advise on:
- Traditional corporate products, including due diligences of Iran-based assets, JV agreements, share purchase agreements, and merger control issues, etc.
- Contractual arrangements, trade and regulatory issues.
- Companies’ investment strategies in Iran, including relations with regulators and counterparties. Indeed, we have already advised on such issues in relation to some of the first ground-breaking foreign investments into Iran following the introduction of the country’s Foreign Investment Promotion and Protection Act (FIPPA).
The ongoing economic development triggered by the lifting of sanctions will inevitably contribute to the further evolution of the Iranian legal market. Colibri’s early entry into Iran and commitment to participating in the market’s growth demonstrate our ethos of providing cross-border legal services in an accessible, useful and innovative way.
Source: Colibri Law
