Firm Profile > Indacochea & Asociados > Santa Cruz, Bolivia

Indacochea & Asociados

Corporate and M&A Tier 1

Senior partner Ricardo Indacochea heads the 11-strong corporate practice at Indacochea & Asociados in conjunction with cross-industry commercial specialist Mariana Pereira and Alonso Indacochea (complex transactions, foreign investment - particularly in relation to the real estate sector). The team handles the full range of corporate work from basic company and shareholder matters to more complex matters including spin-offs, due diligence procedures, winding-up operations, capital contributions, sale purchase agreements, M&As, dissolutions and bankruptcy. Recent headline work saw Pereira lead advice to Holdco Bolivia Inversiones, a majority shareholder of Industrias de Aceite, regarding a reverse merger that will see the subsidiary absorb its parent company. Andere Indacochea is a key contact in the department for handling labour-related corporate matters. Associates Ana Carola Muñoz (who is supporting Pereira on the Holdco matter), María José Martinez and Maria Laura Paz are also names to note. the team was further strengthened by the arrival of associate Nataly Cuellar from an in-house position at Kimberly-Clark in October 2019.

Key clients

Alicorp Bolivia

Gas TransBoliviano

Holdco Bolivia Inversiones

Laboratorio LKM Bolivia

Real estate Tier 1

Alonso Indacochea (property acquisitions, sales and investments; restructuring; and the development of commercial, industrial, hospitality and residential real estate), and Anwar Farah  (mergers, subdivisions, constitutions and the restructuring of real estate projects across the commercial real estate, hotel and agroindustrial sectors), co-lead Indacochea & Asociados’ eight-strong practice, which has been particularly active in large-scale urban development projects of late. Farah also advises clients before local authorities on urban development matters including land use, urbanisation processes, construction licenses, habitability certificates, operating licenses and environmental impact studies; he recently led advice to Grupo Fe on the division and partition of two sets of properties as part of an urbanisation project. Rural real estate matters are another area of strength for the group. Key associate María José Martinez has experience across the commercial real estate, hospitality and agroindustrial sectors.

Practice head(s):


In our case, we especially work on real estate rights issues; the firm’s Anwar Farah is a former public sector head of legal, which gives him an advantageous insight that helps the effective and prompt resolution of our applications.’

In the case of Anwar Farah, I highlight his experience in the area from the public sector perspective.’

Key clients

Triangulo de Oro


Grupo Fe


Riverfront Investments

Riverfront Salud


El Tejar Group

Vicente Roca

Banking and finance Tier 2

Indacochea & Asociados’ 'very technical', eight-strong team has earned recognition for its strength and expertise advising on local capital markets work, particularly bond issues and promissory notes, but also handles a broader range of matters from project and agribusiness finance, to leases, trusts, exchange controls and debt restructuring. 25-year veteran Mariana Pereira heads the practice; she has noteworthy expertise in financial restructuring, bond issuances and loan contracts. Alonso Indacochea is noted for his expertise in advising foreign investors. Senior associate Ana Carola Muñoz (capital market, M&A and corporate finance), is also noted.  

Practice head(s):


Indacochea & Asociados has a very technical team’.

Key clients

JLT Seguros

ISA Bolivia

Contreras Hermanos

Banco Nacional de Bolivia

Energy and natural resources Tier 2

Hydrocarbons-law expert Ricardo Indacochea co-leads Indacochea & Asociados’ practice with Mariana Pereira, who is well known for advising on the financial and corporate aspects of energy mandates. The team has established strength in the oil and gas sector; recent work in this area includes assisting Argentinian company Servicios Especiales San Antonio with its contribution of assets to Servicios Petroleros Bocruz. Senior associate Ana Carola Muñoz is noted for her expertise in corporate-related energy matters.

Key clients


Baker Hughes Bolivia

Pampa Energía

Trenerec Energía Bolivia


Labour and employment Tier 2

Indacochea & Asociados’ five-strong practice group has been notably active in restructuring work, dismissal cases, regulatory work and social security matters, in part driven by the firm's flow of corporate and transactional mandates. The cornerstone of the practice, labour specialist Andere Indacochea who advises on all issues related to employment and social security legislation, as well as on collective bargaining, labour restructuring and preventive labour-related matters; she co-leads the department with corporate specialist and senior partner Mariana PereiraAnwar Farah has niche expertise in immigration-related matters; and associate Jeannine Lozada, who advises on labour regulatory issues, is also noted.


We receive labour alerts immediately and constantly. The team has experience and is outstanding in its field.’

Andere Indacochea: consolidated knowledge, precise advice and good response time.’

Key clients

Compañia Interamericana de Servicios

Bayer Boliviana


Louis Dreyfus Commodities Bolivia


Distribuidora de Diversión Ximte

Tax Tier 2

Senior partner Mariana Pereira and senior associate Candys Dorado jointly head Indacochea & Asociados ’ six-strong tax practice, which advises local and international clients on advisory and contentious mandates; defending clients against tax rulings is a key capability of the department. Tax and administrative specialist Dorado, can draw on over ten years' experience at Bolivia's inland revenue service; with a specialisation in international economics, she also advises on international trade and customs matters. The team is also noted for handling the tax aspects of corporate matters. The group was bolstered by the July 2019 arrival of associate María Alexandra Salvatierra, formerly at Bolivia's Tax Bureau, who handles tax planning, tax legal audits and inspection processes, as well as counsel on administrative and judicial procedures and litigation, the strategic planning of operations and national regulations and tariff issues.

Practice head(s):

Key clients

Industrias Alimenticias Fagal

Total Media Networks

Farmacias Chavez

Louis Dreyfus Commodities

ISA Bolivia

Bayer Bolivia


Dispute resolution Tier 3

Debt recovery cases have been prominent in the recent workload for the six-strong team at Indacochea & Asociados which has grown by some 35% since 2018. The department has solid credentials representing clients from the construction, agro-industrial and healthcare sectors - in particular - in contentious matters, and also counts arbitration and conciliation, and public defense, as another core focus areas. Senior associates Marcelo Longaric and  Candys Dorado co-lead the practice; and associate Juan Pablo Sanchez is active in arbitration.


Top-level professionals’.

They have excellent relationships with clients’.

Key clients

Global Alimentos


University of Zamorano

Founded in 1991, IA is ranked as one of the most prestigious law firms in Bolivia and comfortably the largest firm in Santa Cruz, with 20 lawyers and legal assistants. IA specializes in legal counsel on both international and local commercial law, where ethical principles and excellence guarantee the efficiency of every legal work delivered to its clients.

Areas of practice
Real estate: this department, led by Alonso Indacochea, has grown over the years and is currently very active. Sell-purchase agreements, agrarian title analysis, corporate restructuring and financing, company buyouts and share-pledge agreements form the day-to-day legal assistance to secure ownership rights for its clients.

Commercial: IA advises local and foreign clients on the best approach to starting business in Bolivia, from the inception of incorporating the type of entity that best meets the client’s needs (corporations, pass-through entities, branches, foundations, associations or joint ventures, among others), the customary administration of the entities (minute books, shareholder meetings, assemblies and board meetings, powers of attorney whether foreign or local, etc), mergers and acquisitions (including due diligence processes) up to the dissolution and liquidation of the companies.

Hydrocarbons/energy: the wide experience and specialized knowledge of Ricardo Indacochea and Mariana Pereira in oil and gas law and electricity law has allowed IA to counsel clients whose activities are along the production chain, starting with exploration through marketing and production of hydrocarbons, including transportation, and from generation to distribution in the electricity sector.

Contracts: drafting and negotiation of contracts, both international and domestic, always taking into consideration expediency and clients’ needs regarding the business, but also applying experience in dispute resolution, and other areas such as taxation, antitrust, labor and civil law.

Intellectual property: Lorena Otero and Maria Jos? Martinez advise clients on subjects such as inventions, literary work, art, symbols, names and images used in commerce, distinctive signs, invention trademarks and author rights.

Labor: this department, led by Mariana Pereira and Andere Indacochea, provides consulting services to local and foreign corporations in compliance with labor and social security regulations, being in charge of the negotiation and drafting of labor agreements, collective bargaining contracts and in-house working regulations.

Tax: IA provides permanent legal advice in the tax area, working closely with clients and their external auditors in order to adequately fulfil tax regulations or, alternatively, to identify and rectify internal tax processes that could generate sanctions by the Tax Administration. Lawyers led by Candys Dorado work together with external auditing firms in order to provide clients not only with legal counsel, but also in regard to tax planning.

Department Name Email Telephone
Commercial, corporate and business Ricardo Indacochea
Commercial, corporate and business Alonso Indacochea
Banking Mariana Pereira
Banking Ana Carola Muñoz
Labor Mariana Pereira
Labor Andere Indacochea
Tax Candys Dorado
Civil Maria Laura Paz
Civil Juan Pablo Sanchez
Administrative, antitrust, competition and regulation Anwar Farah
Hydrocarbons and energy Ricardo Indacochea
Hydrocarbons and energy Mariana Pereira
Intellectual property Maria José Martinez
Arbitration Candys Dorado
M&A; project finance and foreign investment Alonso Indacochea
M&A; project finance and foreign investment Mariana Pereira
Agrarian Alonso Indacochea
Agrarian Anwar Farah
Immigration Anwar Farah
Photo Name Position Profile
Ms Candys Dorado  photo Ms Candys Dorado Candys is associate especialized in Administrative, Customs and Tax.
Mr Anwar Farah Montero  photo Mr Anwar Farah Montero Anwar Farah is associate especialized in Administrative law, Commercial law and Real Estate.
Mr Alonso Indacochea Pardo de Zela  photo Mr Alonso Indacochea Pardo de Zela Alonso is Partner especialized in Agrarian, Commercial law, Corporate law, Banking and Finance and…
Ms Andere Indacochea Pardo de Zela  photo Ms Andere Indacochea Pardo de Zela Andere is Partner especialized in Labour, Civil law, Corporate and Commercial law.
Mr Ricardo Indacochea San Martin  photo Mr Ricardo Indacochea San Martin Ricardo is Founder Partner especialized in Commercial law, Corporate lax, Energy and…
Mr Marcelo Longaric Saucedo  photo Mr Marcelo Longaric Saucedo Marcelo is associate especialized in Civil law, Procedural and Arbitration law.
Ms Jeannine Lozada Raldes  photo Ms Jeannine Lozada Raldes Jeannine is associate especialized in Corporate law and Labor.
Ms Maria Jose Martinez  photo Ms Maria Jose Martinez Maria Jose is associate especializes in Commercial, Corporate, Intellectual Property and Social Security.
Ms Ana Carola Muñoz Añez  photo Ms Ana Carola Muñoz Añez Ana Carola is associate especialized in Banking, Commercial law and Corporate law.
Ms Maria Laura Paz Guillen  photo Ms Maria Laura Paz Guillen Maria Laura is associate especialized in Agrarian, Civi law, Commercial law, Corporate…
Ms Mariana Pereira Nava  photo Ms Mariana Pereira Nava Mariana is Partner specialized in Corporate law, Project Financing, M&A, Labor lar, Tax…
Mr Juan Pablo Sanchez Deuer  photo Mr Juan Pablo Sanchez Deuer Juan Pablo is associate especialized in Civil law and Arbitration.
Ms Fabiana Vaca Pereira Soliz  photo Ms Fabiana Vaca Pereira Soliz Fabiana is associate especialized in Administrative law and Commercial law.
Other fee-earners : 20
Total staff : 34
Partners : 5