Three years after his arrival in the United States, Rodrigo Albagli makes a positive assessment. The firm has more than 50 clients and US$100 million managed in different types of investments.
There are few Chilean law firms that have dared to leave the country and even less to establish themselves in a jurisdiction like the United States. Carey, Bruzzone González and Albagli Zaliasnik (AZ) set out on this adventure in the middle of the pandemic and continue to persevere. In the case of AZ, his partner Rodrigo Albagli detailed to DF the balance of the operation three years after the arrival of the office in Miami and he says – proudly – that today it is fully financed. What’s more, “it has become a strategic commercial hub,” he says.
Albagli says that expectations have been more than met. “We have established ambitious goals for the future and are exploring various strategies” he comments and reveals that they recently partnered with a high-net-worth management company, called Vizcaya Capital – with offices in Miami, Santiago and Zurich – with whom they already work together. The link was established by his son, Alan, who is precisely part of the manager’s investment team. The agreement implies that AZ advises clients on legal-tax issues, while Vizcaya is in charge of asset management.
“The alliance allows us to offer complementary services to our clients, who, in general, are individuals or families who, due to a wealth protection strategy, have decided to diversify their assets and investments both at the level of currency and markets,” says Albagli.
The AZ partner explains that this new impetus for the office also has to do with the business potential generated by the entry into force of the Double Taxation Treaty with the US, where – he assures – they have held “numerous meetings with potential clients to discuss the implications and opportunities that this legislative change brings with it” In his opinion, this new regulation reduces tax barriers to investment between both countries, facilitating the strengthening of commercial ties. In addition, he says he allows companies and entities that do business in both countries to save more.
Balance
Today the AZ Miami team is led by David Ancelovici, who serves as the firm’s coordinator and is director of the Tax group, and by Albagli himself in his capacity as managing partner – which implies that he is constantly traveling to the US -, in addition – he adds – they have added specialized lawyers to strengthen the corporate and tax teams. As it is a “commercial hub”, he emphasizes, they have a network of local partners to meet the specific needs of their clients, where the issue of flexibility and costs adapted to the Latin American market stands out. He is quick to clarify that AZ Miami is not an extension of the services that the studio provides in Chile, but rather it is a business platform that allows its clients to land in the US under “competitive conditions.”
In that sense, they have continued with the same focus with which they began, that is, advice for financial investments, asset protection, real estate businesses, support for the startup ecosystem (venture capital, funds, investment rounds, among others) and immigration.
Rodrigo Albagli details that in this period they have reached a portfolio of about 50 clients and managed investments worth more than US$ 100 million in different types of projects.
Source: Diario Financiero, May 03, 2024.
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