In September, Greenberg Traurig opened an office in São Paulo, Brazil, marking the Miami-rooted firm's latest attempt to double down on an international market. But Brazil is proving to be key for other firms, too.

For Greenberg Traurig, Brazil is important because its clients touch so many deals throughout Latin America that it made sense to set up shop in the region's largest economy, in addition to tax benefits and the opportunity to catch more work. But the country's growing complexity and buying power is also making it an important market to be in for many other firms with an existing presence in Latin America.