The tie-up will see Conyers launch a Cypriot practice out of its Moscow office, which was launched in January 2008 (The Lawyer, 14 January 2008). ATS will fly a Cypriot lawyer to the Russian office following the deal.
Moscow managing partner Caroline O’Hare said the firm had seen increased demand for advice on Cypriot law from Russian clients.
“Cyprus is a leading treaty-based jurisdiction and a preferred jurisdiction for Russian investment,” said O’Hare.
Almost half of all foreign direct investment into Russia flows through Cyprus and the British Virgin Islands. This is expected to accelerate after Cyprus completes the double taxation avoidance treaty with Russia that was signed in April.
Conyers plans to target Brazil, Russia, India and China to underline its growth.
In October 2008 the firm opened an outpost in Mauritius in a bid to bag work emerging from Asia. This was followed in December 2008 with the launch of an office in São Paulo (The Lawyer, 1 December 2008).