Tiago Machado Graça is a Partner in the Lusophone Africa practice and a member of the CMS Africa Steering Committee. He brings more than two decades of experience advising on complex domestic and cross-border tax, legal and investment matters involving Portugal and Portuguese-speaking jurisdictions, with a particular focus on Angola, Mozambique, Cape Verde, São Tomé and Príncipe and Timor-Leste. His practice combines deep sectoral knowledge, longstanding regional experience and a sophisticated understanding of the legal, tax and regulatory frameworks that shape investment across Lusophone Africa. Throughout his career, Tiago has acted as a trusted adviser to major multinational groups, regional conglomerates and medium-sized enterprises operating across a broad range of industries, with a strong emphasis on the oil and gas sector, as well as energy, natural resources, infrastructure, real estate and financial services. He regularly assists international investors entering or expanding their operations in Africa, providing strategic guidance on international tax structuring, foreign investment regimes, exchange control rules, cross-border financing, profit repatriation, withholding tax exposure and the coordination of multi-jurisdictional corporate reorganisations. Tiago’s extensive experience covers the full lifecycle of cross-border investment, from initial market assessments and entry-route planning to the structuring of local operations, compliance with domestic tax regimes, negotiation of investment incentives and ongoing support throughout the operational phase. He frequently advises on the tax and legal implications of inbound and outbound restructurings, mergers and acquisitions, joint ventures and group reorganisations that involve complex interactions between African and non-African legal systems. His work also includes designing efficient investment platforms, analysing double tax treaty relief, and addressing tax governance and transfer-pricing considerations within multinational groups. A significant part of Tiago’s practice is dedicated to the energy and oil & gas sectors, where he has advised on upstream, midstream and downstream matters, including petroleum taxation, production-sharing regimes, service contract structures, project financing, indirect transfers of petroleum rights, and the interface between commercial contracts and public-law requirements. He has supported clients in negotiations with governmental authorities, in managing tax controversies, and in implementing compliance frameworks aligned with local content and regulatory expectations. Based in Lisbon, Tiago also possesses substantial experience in real estate transactions, both from a legal and tax standpoint. He advises investors, funds and developers on property acquisitions, SPV structuring, real estate investment strategies, asset management, divestment processes and the tax implications of domestic and cross-border real estate ownership. His ability to combine local Portuguese expertise with an international tax perspective enables him to advise on sophisticated multi-jurisdictional property structures. Tiago plays a central role in the development and coordination of the firm’s African practice. Fully dedicated to African matters, he works as a strategic bridge between international clients and the firm’s network of local correspondent law firms across Lusophone Africa. His work involves overseeing multi-country engagements, ensuring consistency of advice, building strong working relationships with local counsel and supporting clients in navigating the practical, commercial and regulatory challenges of doing business in Africa. His expertise and market standing have been consistently recognised by leading international directories. Tiago is ranked as Up & Coming for General Business Law: International Firms – Angola by Chambers Global 2024, and he is recommended for Angola and Mozambique Foreign Firms by The Legal 500, 2024. He has also been recognised for Tax by Best Lawyers, 2024, reflecting his longstanding reputation as a leading adviser in international tax matters involving Lusophone jurisdictions.