Practice area

IFLR1000 Reviews


Solicitors governing body: The Ministry of Justice

Competition authority: AEMP

Financial regulator: Superintendencia de Bancos y Entidadas Financieras; Central Bank of Bolivia

IFLR1000 ranking categories in this jurisdiction: 

Financial and corporate, Project development

Jurisdiction overview

Bolivia is one of the fastest growing economies in Latin America. A new National Constitution was voted in during February 2009 under President Evo Morales. Among other reforms, this included provisions for increased rights for the indigenous people of Bolivia who make up a majority of the country.

Bolivia’s legal system is based on civil law. Those who wish to practice law in Bolivia must register with the Ministry of Justice.   

The legal market is generally populated by local firms though a small group of foreign firms, such as Uruguay-based regional firm Ferrere, are present.

Firms are spread throughout the nation, but La Paz, where the Bolivian government is based, and economic hub Santa Cruz, are key centres. Most active financial and corporate firms have offices in at least one of those two cities. Bolivia’s Supreme Court is located in its capital, Sucre, but corporate firms are generally not as active there. 

Financial and corporate
Bufete Aguirre Quintanilla Soria & Nishizawa

Bufete Aguirre Quintanilla Soria & Nishizawa is a strong financial and corporate player which has worked on financings, reorganisations and has helped clients close their Bolivian branches.  Perhaps most notable among its transactions is its advice to the initial purchasers on the Republic of Bolivia’s bond issue.  The firm also advises the likes of Hidroelectrica Boliviana, Vision Fund International and Thyssenkrupp Raw Materials.  After time of press, the firm came to be when Bolivian firms Bufete Aguirre and Quintanilla Soria & Nishizawa merged to form Bufete Aguirre Quintanilla Soria & Nishizawa. 

CR&F Rojas Abogados

CR&F Rojas Abogados is an active firm in the financial and corporate and projects space.  

The firm works for clients across a range of sectors but aviation and electricity have been particularly busy recently. One example of the firm’s financing expertise was its advice to CAT Financial on a credit facility 

The firm advises the likes of Banco Santander, TA Gas, and Ceibos Group.  


Ferrere, the Bolivian arm of the South American regional firm. 

On banking matters, the firm maintains a healthy array of international clients such as JPMorgan, Banco Santander and International Finance Corporation. The firm’s work includes advice to the lenders on a syndicated loan to the Ministry of Public Works for the construction of the Cochabamba urban railway. 

The firm remains a top player in the project development space where it often advises clients with bids and leasing agreements. For example, the firm helped Ingener with a public bid to build two energy substations to feed the San Jose hydroelectric plant. 

The firm moves up to tier one in the financial and corporate rankings this year due to its impressive transactional record. 

Client feedback

“Ferrere is very fast in their responses. The lawyers have a lot of experience and always try to see the interests of our company.” Banking, project development 

"Great, complete and integral advice." -- M&A, Project development 

"Great law firm - acute, diligent, highly technical, business-oriented and client-centric." -- Project development 

Guevara & Gutiérrez

Guevara & Gutiérrez is a leading player, particularly for project finance transactions. One example of the firm’s financing expertise is its advice to the lender on a financing for a mining project. 

While project finance makes up a significant portion of the firm’s financial and corporate work, the firm also has a significant M&A practice. The firm advised Alicorp on its acquisition of Industrias del Aceite, a Bolivian vegetable oil company. 

Project development is also a key practice area for the firm and it has been particularly active in the energy, hydrocarbons and mining sectors.  

The firm moves up to tier one in project development this research period. 

The firm advises the likes of Danske Bank and Export Import Bank of China. 

Client feedback

"They understand what an international company requires and aligne these requirements within the Bolivian legal Framework in an excellent manner. Very reacitve, very knowledgeable, and solution oriented." - Project development 

Ramiro Guevara

“Extremely smart, pragmatic, solution oriented. Able to explain complicated matters very clearly.”

Alejandra Guevara

"Very smart, pragmatic and solution-oriented.”

Indacochea & Asociados Abogados

Indacochea & Asociados is an active banking and M&A firm. The firm works in a range of sectors, but real estate has been particularly active. One example of the firm’s expertise is its advice to Inversiones Inmobiliarias Grupo Fe on a financing with Chinese Real Estate Fund.  

The firm advises the likes of Inversiones Triangulo de Oro and El Tejar 

Client feedback

"They have a very good relationship with their clients and knowledge of local regulations." - M&A 

"Very good response times, committed personnel and experienced lawyers." - M&A 

Sanjinés & Asociados

Sanjinés & Asociados is active in M&A and project development.

In M&A, the firm advised Industria Soluplast on the acquisition of Plasto-REV.

In project development, the firm advised Clínica Metropolitana De Las Américas on the construction of a health clinic.

Key clients include Imcruz Comercial, SACYR Industrial and Inesco Ingenieria y Construccion.