Latest updates

New Regulatory Framework Aims to Protect Banking Sector
  • Banking
  • Paraguay
  • March 05 2004

A new law aims both to prevent and to limit systemic risks in light of the country's erratic financial history. In so doing, it provides for a series of mechanisms to enable the Central Bank and the president to take drastic measures where necessary. It balances such powers by requiring these bodies to report all such actions to Congress.

Local Financial Entities Authorized to Buy Foreign Bank Stock
  • Banking
  • Paraguay
  • July 18 2003

Under the Banking Law, local banks alone may acquire the stock of foreign banks and financial entities. However, a new Central Bank resolution has extended the right to acquire to other financial entities.

Overview (May 2003)
  • Banking
  • Paraguay
  • May 09 2003

Including: Central Bank; Legal Framework; Commercial Banking Structure; Incorporation and Minimum Capital; Foreign Bank Branches; Subsidiaries; Reserve Fund; Profit Distribution; Restrictions; Money Laundering.

The Requirement of Use in Trademark Law
  • Intellectual Property
  • Paraguay
  • February 10 2003

Cancellation actions for non-use of trademarks are filed before the civil courts of first instance. A regulatory decree provides that the requirement of use is fulfilled when a trademark is used abroad. This provision may be invoked where a cancellation action is filed against a trademark that was registered and not used in Paraguay, but was used elsewhere in the world.

New Rules for Interconnection
  • Telecoms
  • Paraguay
  • January 29 2003

CONATEL's new regime for the interconnection of private telecommunications companies applies to providers of basic telephony services and mobile and prepaid discount cellular services. In the event of any disagreement regarding a contract's interpretation, performance or breach, either party has the right to file a petition or claim before CONATEL.

New Rules for Fixed Wireless Multipoint Telephone Service
  • Telecoms
  • Paraguay
  • July 03 2002

The new fixed wireless multipoint telephone service is regulated by National Telecommunications Commission (CONATEL) Resolution 30, which aims to establish provisions concerning the granting of licences for the service, among other things.

Eighth Edition of Nice Agreement is Approved
  • Intellectual Property
  • Paraguay
  • May 03 2002

Paraguay has approved the eighth edition of the Nice Agreement through Decree 16,939. Issues raised by the new decree include the need to reclassify trademarks that have been granted already and the re-publication of trademark applications that were published under the old classification.

Industrial Property Office Grants First Soundmark
  • Intellectual Property
  • Paraguay
  • March 11 2002

The Paraguayan Trademark Office has granted its first soundmark. Although the Paraguayan Trademark Law (1294/1998) does not expressly provide for the registration of soundmarks, Article 1 states that “trademarks are all signs that serve to distinguish products or services”. Therefore, any unique and distinctive sound that serves to differentiate a product or service may be considered a mark.

Overview (February 2002)
  • Corporate Finance/M&A
  • Paraguay
  • February 27 2002

Including: Business Combinations; Mergers; Acquisitions; Business Establishments; Change in Legal Form; Taxation; Labour Considerations; Antitrust; Cross-border Transactions.

Overview (December 2001)
  • Company & Commercial
  • Paraguay
  • December 03 2001

Including: Foreign Investment; Other Forms of Investment; Shareholder Agreements; Doing Business; Privatization; Labour Legislation.

New Law Overhauls Patents and Utility Models
  • Intellectual Property
  • Paraguay
  • October 22 2001

The new Patent Law governs all aspects of patents and utility models. It complies with the most modern conventions in this field, most notably the agreement on Trade Related Aspects of Intellectual Property Rights.

Parliament Regulates Company Registration and Supervision
  • Company & Commercial
  • Paraguay
  • October 15 2001

The legal status of corporations and limited liability companies is acquired through registration of their bylaws in the public registries. Registration is ordered by first-instance civil and commercial judges, and the favourable legal opinion of the Treasury Office of the Ministry of Finance is required in advance.

Enterprising Legislation for State Owned Companies
  • Corporate Finance/M&A
  • Paraguay
  • July 18 2001

Law 1615/2000 constitutes the principal legal framework for the privatization of state owned enterprises.

Enforceability of Security Instruments and Promissory Notes
  • Corporate Finance/M&A
  • Paraguay
  • June 27 2001

Regarding the legal status and enforceability of security documents and promissory notes, real guarantees are considered to be the most reliable for they create a privileged security interest over the mortgaged or pledged property in the creditor's favour.

New Law Regulates Patents and Utility Models
  • Intellectual Property
  • Paraguay
  • June 25 2001

The new Patent Law provides for the payment of annual taxes in order to maintain a patent's validity and the granting of compulsory licences in certain circumstances.

Maquila Programmes Are Implemented
  • Company & Commercial
  • Paraguay
  • June 04 2001

A new legal framework promotes the country's first assembly programmes. The programmes are designed to assist in re-directing investment towards the manufacturing sector and in upgrading existing technology.

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