A decision shaped by client trust
BLP’s expansion into Venezuela responds to a specific need: supporting clients who, after relocating their businesses to other markets, are considering returning to the country and want to continue working with the advisers who have supported them over the years.
Eduardo Calderón, partner at BLP, and Luis Palacios, director, discussed this decision in an interview with Latin Lawyer about the opening of the firm’s representative office in Caracas. For both, the move reflects an approach that has guided BLP’s growth: staying close to clients and responding to their business needs, even when those needs extend beyond their usual markets.
«When clients you have accompanied for years tell you that, the decision becomes much clearer», Calderón explained.
Legal support as projects move forward
Having a permanent presence in Venezuela will allow BLP to support clients not only as they assess opportunities but also as projects move towards implementation. This includes assisting with meetings with counterparties, reviewing assets and documentation, following up on permits and addressing other matters involved in establishing operations.
Luis Palacios will be based in Caracas and lead the firm’s local presence, while Eduardo Calderón will oversee the office from Costa Rica, travelling to Venezuela regularly and working alongside BLP’s teams across its regional network.
The firm will follow a gradual growth model, allowing its local structure to evolve in response to client needs and the volume of work. As Calderón explained: «The office should grow at the pace of that work, not ahead of it».
Regional experience for new investment opportunities
BLP’s experience in cross-border legal advice will play an important role in its work in Venezuela. Many of the opportunities being considered by investors involve coordinating corporate structures, financing arrangements, business partners and operations across different jurisdictions.
Areas of interest include energy, particularly oil and gas, mining, infrastructure, telecommunications, banking and finance and insurance. The firm is also assisting businesses with the legal and regulatory requirements needed to prepare for operations as conditions allow.
As Luis Palacios explained: «Most of our mandates relate to getting businesses the licence to operate, so they can be ready to start as swiftly as possible when the conditions improve».
In this context, international sanctions and regulatory compliance are essential considerations when assessing each opportunity. «Being able to explore a project is not the same as being able to execute it, and part of our role is to help clients see that clearly», Calderón noted.
A regional platform built around client needs
BLP’s presence in Venezuela expands the firm’s reach and its ability to support businesses with interests across different markets. The opening is not intended as the start of a broader expansion into South America, but rather as a response to the needs of clients with whom BLP has built long-standing relationships.
The objective is to integrate the Caracas operation into BLP’s existing platform across Central America, Spain and the United Arab Emirates, maintaining the coordinated and accessible approach that defines its regional model.
Read the full interview with Eduardo Calderón and Luis Palacios in Latin Lawyer: Behind the move: Why BLP is taking on Venezuela.
