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Paraguay > Law firm and leading lawyer rankings

Editorial

While Paraguay’s economy is small and heavily reliant on natural resources, it has proven able to attract a growing flow of foreign investment, with this development underpinned by average growth rates of 5% over the past decade, significant macroeconomic progress and a more transparent government. As a response to the country’s economic and social challenges, the government introduced the National Development Plan for the period 2014-2030, which addresses areas such as poverty, social development, inclusive economic growth and the integration of Paraguay into global markets. These measures, together with a sovereign bond issuance in 2016 which significantly improved the country’s solvency, have contributed to an optimistic climate for foreign investment.

Paraguay is nevertheless affected by falling commodity prices and adverse weather conditions (due to “el Niño”), which negatively influence its heavily agriculture-dependent economy. Gradual diversification towards less volatile sectors and various trade opportunities with neighbouring Brazil have helped to keep the Paraguayan economy relatively stable in recent years. The government has also introduced various PPP projects to improve infrastructure, generating foreign investment and leading to an increased need for legal advice and a growing international workload for local law firms.

The Paraguayan legal market is relatively stable. Significant full-service firms include Ferrere, which has 200 attorneys across Bolivia, Ecuador, Paraguay and Uruguay and has established itself as the second-largest firm in the jurisdiction within 14 years, and Estudio Jurídico Gross Brown, which can look back on more than 70 years of experience in the Paraguayan legal market. These two have leading practices in banking and finance and also, alongside Peroni Sosa Tellechea Burt & Narvaja and Vouga Abogados, in corporate. Other notable firms with a broad service offering include Fiorio, Cardozo & Alvarado, Attorneys at Law, Moreno Ruffinelli & Asociados, Olmedo Abogados, and Palacios, Prono & Talavera.

The market also includes a number of excellent boutique practices. In IP, Zacarias & Fernández shares a top-tier position with full-service firm Berkemeyer Attorneys & Counselors while Irún & Villamayor, Estudio Nora Ruoti & Asociados and SEA Abogados y Consultores Ambientales feature strongly in employment, tax and environmental law respectively. More recent arrivals to the market include Ebro – Firma Jurídica, which specialises in environmental law matters; and Altra Servicios Juridicos, which builds on the expertise of its founder in the area of dispute resolution.

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