Dentons has established a presence in Iran after entering into association with Tehran firm, Arman Pirouzan Parvine Legal Institute (APP).
APP has a team of 10 lawyers led by US-qualified partner, Navid Rahbar-Sato. The firm handles capital markets, corporate, infrastructure, litigation and regulatory advice.
The international firm said the move is a response to increasing demand from clients for Irani law advice, in particular in relation to sanctions and inbound-investment.
International economic sanctions imposed on Iran by the US and EU were lifted earlier this year after the country scaled back its nuclear programme. With the country having largely been cut-off from foreign investment since the 1970s, when the first sanctions were imposed, there are an abundance of opportunities in what is the second biggest economy in the Middle East.
Iran has some of the most significant oil and natural gas reserves in the world, a well-developed stock exchange, and a burgeoning and youthful middle class (50% of the 80 million population are under 35), who will want to take advantage of the opportunities presented by the world market in consumer goods and services.
Dentons is the second large international firm to move into Iran since sanctions were lifted. Earlier this year, CMS took similar steps and relocated two partners to Tehran having merged with a local firm.