Lisbon Annual Report 2017: Looking Brighter

Portuguese law firms are reporting growth in revenue as transactional work increases – however, with some of the country's major assets being acquired by foreign investors, the long-term outlook for Lisbon lawyers is uncertain

Workflow has increased for law firms in Portugal partly due to increases in M&A activity driven by foreign investors targeting the country's real estate and banking sectors. The financial results of the top firms in Portugal give reasons for optimism – the three biggest firms in the country (MLGTS, PLMJ and Vieira de Almeida) all reported double-digit increases in revenue in 2016. However, there are also causes for concern among lawyers – there is a view that with significant portions of the nation's banking sector falling under foreign ownership, Lisbon firms could start losing potential instructions to international firms. Yet, some lawyers argue that this fear is unfounded and that Portuguese law firms will have no trouble in successfully