Twitter Logo Youtube Circle Icon LinkedIn Icon

Paraguay > Law firm and leading lawyer rankings

Editorial

Although the Colorado Party remains in power, with former-president Horacio Cartes ineligible for re-election 2018 marked a change of administration in Paraguay with Mario Abdo Benítez taking office in August. The new administration has since put forward a development plan focused around two imperative goals: fighting corruption and boosting human capital. Strides have already been made in this sense with a number of bills aimed at tackling money-laundering, corruption and terrorism-finance approved, recently; while the labour-sector legal framework was consolidated with the establishment of an office for the prevention of violence and abuse in the workplace and the introduction of new regulations regarding employer registration.

The recent push for state reforms has also had an impact on the local and international business community. Recent activity in the financial sector reflected a growth in the availability of financing for, and lending to, small and medium enterprises. The M&A market also registered an upturn, with a greater proportion of large local groups taking part in acquisitions, a phenomenon scarce only three years ago. Nonetheless, Paraguay continues to garner attention from foreign investors which consistently look to set up operations in the country. Furthermore, the amendment and creation of legislation regarding securities, movable guarantees, simplified shares companies and insolvency (which prioritises reorganisation instead of liquidation) are likely to keep the country open to international investment.

Paraguay’s economy is on track to maintain a stable expansion rate accompanied by ongoing poverty reduction. Despite the progress made towards formalisation and economic diversification, growth remains vulnerable to volatility in neighbouring states and fluctuations in commodity prices, as agricultural products still comprise the majority of exports. Moreover, the lower-than-expected performance from key trading partners (especially Argentina) took its toll on economic growth in the second half of 2018. Nonetheless, low public debt, paired with fiscal prudence, has kept GDP-growth above the regional average, which was further heightened in February 2019 with the government's placement of a $500m, 31-year Eurobond at 5.4 %.

In spite of this slight economic slowdown, the legal market has remained fairly active. In the project finance area, new laws facilitating infrastructure investments signified an increase in mandates related to major public-private partnership (PPP) projects. This trend is expected to continue in the coming year, as the government aims to close the transport infrastructure gap. In the corporate sphere, the market was kept busy with major mergers and acquisitions demanding clearance from the National Competition Commission (CONACOM); while arbitration continues to gain momentum in the dispute resolution sector.

The local legal market is relatively stable, with full-service law firms at the forefront of most complex and cross-border matters. Uruguay-based FERRERE arrived in Paraguay over a decade ago and has since established a leading position in the market, although not without stiff competition coming from Estudio Jurídico Gross Brown (which despite 70 years in the market, has undertaken a thorough process of institutionalisation), the now fully-fleshed multidisciplinary firm BKM | Berkemeyer and the increasingly-prominent Vouga Abogados. Other law firms with a broad service offering include Meritas-alliance member Peroni Sosa Tellechea Burt & Narvaja (celebrating its 50th anniversary), Moreno Ruffinelli & Asociados , Olmedo Abogados and MERSAN Abogados. Specialised top-tier advice is also provided by boutique firms that tend to predominate in certain practice areas. Estudio Nora Ruoti & Asociados is a leading player in tax matters, while Irún & Villamayor stands out across labour and employment law, Estudio Riera Abogados is a dedicated disputes firm, Zacarias & Fernández is commended for its IP expertise, and SEA Abogados y Consultores Ambientales is entirely devoted to environmental matters.

International comparative guides

Giving the in-house community greater insight to the law and regulations in different jurisdictions.

Select Practice Area

Press releases

The latest news direct from law firms. If you would like to submit press releases for your firm, send an email request to

Legal Developments worldwide

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
  • Communiqué on Equity Crowdfunding Is Officially Published

    By way of background, in January 2019, the Capital Markets Board (“ CMB ”) had issued an announcement on its website on the Draft Communiqué on Equity Crowdfunding [1] . The CMB has now officially published the Communiqué on Crowdfunding No. III-35/A (“ Communiqué ”), on October 3, 2019. The Communiqué entered into force as of October 3, 2019.
  • Beneficial Ownership Concept new interpretation from the Russian federal tax service

    The recent interpretative letter issued by the Russian Federal Tax Services (“FTS”) on 08th August 2019, has provided further guidance as to the application of the Beneficial Ownership Concept, further to the letter initially provided on the 12th of April 2018 which adopted a strict approach of the concept. 
  • Cyprus and Netherlands Double Tax Treaty Update

    Cyprus has concluded the negotiations for the avoidance of double taxation with the Netherlands. The double tax treaty was agreed at technocratic level in Hague. It is expected to be signed by the end of 2019 or early in 2020.
  • Vacancy - Senior Corporate Lawyer

    The Senior Corporate Lawyer, who will be reporting to Partners, will be working with both the firm’s legal team as well as the financial services team. The successful candidate will be requested to show initiative, take on certain responsibilities within the firm, work in a multinational environment and will immediately be given the opportunity to further advance their career within the law firm.
  • CJEU RULED ON THE APPLICATION OF THE BENEFICIAL OWNERSHIP CONCEPT

    The judgment of the Court of Justice of the European Union (CJEU) on February 26, 2019, in the “Danish Beneficial Ownership Cases”, can be perceived as a landmark on the interpretation of the Beneficial Ownership concept under the Interest and Royalties Directive (IRD) and the Parent-Subsidiary Directive (PSD).
  • Court of Justice rules on source of income for Derivative Residence applications

    On 2 October 2019, the Court of Justice delivered its judgment in Bajratari v Secretary of State for the Home Department (Directive 2004/38/EC) Case C-93/18 which concerns Chen applications and the source of funds for self-sufficiency. 
  • End of the ‘centre of life test’ in Surinder Singh cases?

    In the recent case of  ZA (Reg 9. EEA Regs; abuse of rights) Afghanistan   [2019] UKUT 281 (IAC ), the Upper Tribunal found that there is no basis in EU law for the centre of life test, as set out in Regulation 9(3)(a) of the Immigration (European Economic Area) Regulations 2016 (the “Regulations”). It further found that it is not to be applied when Judges assess  Surinder Singh  cases that appear before them.
  • ITALIAN RULES ON JOINT VENTURES IN PUBLIC PROCUREMENT AND CONCESSIONS

    Italian rules on jointventures concerning public procurement and concession contracts are set out inlight of the European legal framework provided for in Directive 2014/23/EU and 2014/24/EU of the European Parliament and of the Council. The European rules aim to ensurethe best use of public money so that EU citizens benefit from strategicinvestments and services at fair prices. In this context, public procurementand concessions represent key instruments that need to be regulated and standardisedin order to ensure free movement of goods, freedom of establishment and freedomto provide services.
  • Terms of employment as a sole representative

    In this article we examine the working arrangements of sole representatives, looking at the terms and conditions of employment that the Home Office will expect a sole representative to have in order to qualify as a representative of an overseas business.  
  • Can Sole Representatives Be Shareholders?

    The Immigration Rules require that an applicant for a  sole representative visa  is not “a  majority shareholder in the overseas business”.

Press Releases worldwide

The latest news direct from law firms. If you would like to submit press releases for your firm, send an email request to