García & Bodán
Latin America Guide 2025
About
Firm Details:
Managing Partners Team:
Regional Managing Partner: Terencio J. García Montenegro
García & Bodán Guatemala: Carlos E. Téllez Páramo
García & Bodán El Salvador: Oscar J. Torres Cañas
García & Bodán Honduras: J. Vanessa Oquelí de Riera
García & Bodán Nicaragua: Terencio J. García Montenegro (Managua), Eduardo A. Cabrales Cuadra (San Juan del Sur and Tola)
García & Bodán Costa Rica: Julio C. Vargas Solano
Senior Partner: Federico A. Gurdián Sacasa
Partners: Melvin A. Estrada Canizales (Nicaragua), Godofredo Siercke Núñez (Honduras), Graciela S. Cruz Raudales (Honduras), Edna C. López Toledo (El Salvador) and Mauricio Orellana Caballero (El Salvador).
Firm overview:
García & Bodán ensures uniformity and excellence in its legal services.
It is a full-service law firm with eight offices in Central America, located in Guatemala, El Salvador, Honduras, Nicaragua and Costa Rica. García & Bodán has a team of highly qualified attorneys, graduated with honours from prestigious national and international universities; recognised for their expertise in complex transactions in a context of rapid change and a competitive business environment and well known for their pragmatic and business-minded approach to the legal issues brought forth by clients.
García & Bodán’s team not only serves and supports its clients in all legal activity required in accordance with their businesses; but also, guides foreign investors when entering a new country.
Its main policies are:
■ Fast response in a maximum of three hours during office hours and not more than 24 hours during non-office hours.
■ Observance of conflict of interests at the regional level, not at an individual office.
■ Answers always well founded in law, making reference to the applicable law or disposition.
Main practice areas:
Corporate and transactional:
García & Bodán has participated in complex transactions, including mergers and acquisitions, corporate restructuring and elaboration of due diligences in a variety of industrial sectors.
Tax:
This practice area is one of the supporting pillars to clients in their investments and businesses in Central America. García & Bodán elaborates and develops tax planning services to maximize clients’ profitability, all in accordance with the laws in force in each country.
Banking and finance:
The team provides advice on both unique and complex financial transactions, such as: syndicated bank financing, structured finance, sovereign bond issues, private bond issues, project finance, financing of acquisitions and derivatives, purchase and sale of debt portfolios, trusts, among others; as well as in the area of current regulation of financial markets.
Capital markets:
The team has participated in sovereign bond issues, international private bond issuances, advising on derivative transactions and structuring of debt and preferred stock issues, asset finance, acquisition finance and debt portfolio sales and purchases, among others.
International Trade:
This area is characterized by providing support to national, regional, and international companies in matters arising from their commercial activity, the efficiency of their import, export, and transit processes as well as the relation the firm's clients sustain with different public-private representatives, contributing overall to strengthening their competitiveness and market access.
Intellectual property:
This practice focuses on litigation of patents and actions against trademark infringement, handling of brand portfolios, brand monitoring, health records and legal advice on copyrights and other IP rights.
Litigation and arbitration:
This practice group has the capacity to resolve disputes through the use of dispute resolution mechanisms or, if necessary, through litigation before courts of all the jurisdictions, including specialized courts.
Real estate:
It is characterized by its active participation in the most important tourism-related transactions, especially in Nicaragua, Guatemala and Honduras. It provides advice to real estate developers, hotel operators and condominium developers, among others.
Labour:
García & Bodán provides labor law services in general, including preventive legal advice, ranging from individual to collective issues, and from administrative labor law to full-fledged litigation.
Energy and natural resources: The firm’s expertise covers all areas and activities of the energy and natural resources sectors, including oil and gas.
Clients:
Most of García & Bodán’s clients are multinational companies from the United States, Latin America and Europe, representing them in sophisticated works. The firm also provides services to a wide array of clients in the Central American region.
Offices:
Guatemala City, Guatemala: [email protected]
San Salvador, El Salvador: [email protected]
Tegucigalpa, Honduras: [email protected]
San Pedro Sula, Honduras: [email protected]
Managua, Nicaragua: [email protected]
San Juan del Sur, Nicaragua: [email protected]
Tola, Nicaragua: [email protected]
San José, Costa Rica: [email protected]
Website: www.garciabodan.com
Ranked Offices
Provided by García & Bodán
- ManaguaReparto Los Robles, No. L-15, Del Restaurante 'La Marsellaise', 1/2 cuadra al Sur, Managua, Managua, Nicaragua
- Web: www.garciabodan.com
- Tel: +505 2264 7790
- San SalvadorFinal 83 Avenida Sur, No. 403, Segundo Nivel, Colonia Escalón, San Salvador, Area Metropolitana de San Salvador, El Salvador
- TegucigalpaLomas del Guijarro, Edificio Corporativo Orion, No. 105-106, Tegucigalpa, Francisco Morazán, Honduras
- San Juan del SurDel Restaurante “El Timón” 2 cuadras al Norte, contiguo al Hotel Alcazar, San Juan del Sur, Rivas, Nicaragua
García & Bodán rankings
Articles, highlights and press releases
70 items provided by García & Bodán
Costa Rica removed from the EU grey list: implications for the business sector
The Council of the European Union announced the removal of Costa Rica from Annex II of the List of Non-Cooperative Jurisdictions for Tax Purposes, following key reforms in fiscal transparency and international cooperation since 2022.
New administrative procurement law in Nicaragua
Law No. 1238, the “State Administrative Procurement Law,” unifies and regulates the procedures for public contracts, establishing new thresholds and requirements to improve transparency.
Amendment to the general banking law of Nicaragua strengthens financial sector regulation
Law No. 1237, "Amendment and Additions to Law No. 561, the General Banking Law, Non-Banking Financial Institutions, and Financial Groups," strengthens financial sector regulation by expanding and increasing capital and reserve requirements to enhance stability.
BCIE and Honduras sign loan agreement for the construction of the El Tablón Multipurpose Dam
The BCIE and Honduras have signed a loan of up to US $300 million for the construction of the El Tablón Multipurpose Dam, which will protect the Sula Valley and improve the supply of drinking water.
El Salvador will promote Artificial Intelligence with a new law
The new law for the Promotion of Artificial Intelligence and Technologies aims to encourage the development of artificial intelligence (AI) in the country through the creation of specialized laboratories, data centers, and a regulatory framework.
Guatemala expands requirement to include NIT in new procedures
Starting on April 9, 2025, Guatemala will expand the obligation to include the NIT in civil, commercial, and labor procedures, aiming to improve transparency and tax control in various areas.
New electronic invoicing system 4.4 in Costa Rica
The Ministry of Finance of Costa Rica has expanded the implementation of version 4.4 of electronic invoices. Starting September 1, 2025, all taxpayers must adopt the new version, with a transition period in April 2025.
New Nicaraguan Mandatory Technical Standard for medical devices comes into effect
In January 2025, the Nicaraguan Mandatory Technical Standard (NTON 24001) came into force, establishing requirements for the sanitary registration of medical devices, including risk classification and procedures for registration with the National Health Regulatory Authority.
Nicaragua implements new financial system law
Nicaragua updates its financial regulatory framework with the entry into forcé of Law No. 1232, the "Monetary and Financial System Administration Law," which unifies the regulations for the management of the monetary system.
Honduras strengthens health regulation with the creation of three new institutions
Honduras strengthens its health regulation with the creation of three new institutions: the National Center for Technovigilance, the National Center for Pharmacovigilance, and the National Center for Foodborne Diseases.
Public institutions, autonomous entities, and companies in El Salvador must prepare for the installa
Starting March 1, 2025, public institutions, autonomous entities, and private companies with 100 or more employees must comply with the obligation to ensure that the children of all their workers have access to an Early Childhood Care Center (CAPI).
New guidelines for opening accounts for foreign and Salvadoran investors abroad
The Attorney General's Office of El Salvador published the new guidelines for determining client risk categories, facilitating the opening of accounts and financial transactions for foreign investors and Salvadorans abroad. Compliance is mandatory for financial entities.
Opening of the Mediation Center at the Intellectual Property Registry of Guatemala
Guatemala inaugurated the Mediation Center at the Intellectual Property Registry, supported by WIPO. This new initiative aims to provide efficient and friendly solutions for resolving intellectual property conflicts.
Costa Rica simplifies the entry of health products with new regulation
Costa Rica has simplified the process of importing health products with a new regulation that speeds up the entry of products into free trade zones and active improvement regimes. Companies can re-enter products without sanitary registration, provided they are not intended for the national market.
Benefits and requirements for planning a tourism project in Nicaragua
Nicaragua has started implementing the Regulations of the Law on Incentives for Tourism Developments, offering fiscal benefits to investors in tourism projects such as hotels, restaurants, and parks, with exemptions from Income Tax, VAT, and other taxes.
New health regulation for food and beverages in Honduras
The Regulations for the Sanitary Control of Food and Beverages in Honduras establish new standards for the production, transportation, and commercialization of these products.
Progress in the energy sector in Honduras
Honduras is making strides in improving its energy sector with a review of tariffs and the tendering of 1,500 MW under the BOT model, which will attract investments to strengthen the country's infrastructure.
El Salvador and Costa Rica sign seven agreements to strengthen bilateral cooperation
The governments of El Salvador and Costa Rica have signed seven key agreements to strengthen cooperation in areas such as air transport, tourism, animal welfare, culture, economy, energy, and the environment.
New rates for the operating license in San Salvador Centro, El Salvador
The San Salvador Centro Municipal Government has implemented new rates for obtaining operating licenses for commercial, industrial, and service activities.
3,700 MW of renewable potential identified for Guatemala between 2024 and 2040
The Guatemalan Association of Renewable Energies (AGER) has identified a potential of 3,700 MW of renewable energy. Through long-term tenders, Guatemala has reduced electricity tariffs and attracted investments, establishing itself as a leader in clean energy in the region.
Minimum wage in Guatemala 2025: Increase and new guidelines
Starting January 1, 2025, Guatemala implemented a 10% increase in the minimum wage for agricultural and non-agricultural activities in Economic Circuits 1 and 2, while maquila and export activities will see a 6% increase.
Nicaragua Boosts Tourism Investment Through Tax Incentives
Nicaragua has exceptional tourism potential with its beaches, colonial cities, culture, cuisine, folklore, historical sites, natural reserves, and diverse activities that appeal to foreign visitors, particularly from the United States, Europe, and neighboring Central American countries.
El Salvador Offers Tax Incentives for High-Rise Real Estate Projects
The Legislative Assembly of El Salvador has approved new regulations that offer up to 15 years of income tax exemption to encourage vertical construction projects of over 35 floors.
Amendments to the Tax Code of El Salvador
El Salvador has approved significant reforms to the Tax Code aimed at simplifying the requirements for identifying buyers and service recipients. These modifications seek to facilitate the process for both individuals and legal entities, whether domestic or foreign.
Costa Rica Enacts Legislation to Harmonize Arbitration Statutes
Costa Rica’s Legislative Assembly approved the Law to Harmonize Costa Rican Arbitration Regulations (Docket No. 23.259), unifying the national and international arbitration regulatory framework in the country.
Guatemala’s New Credit Card Law
On September 1, the Decree 2-2024, which includes the Credit Card Law, came into effect. This regulation, which impacts both banks and other card-issuing entities, aims to modernize and expand existing regulations to enhance transparency and security in the use of these financial products.
García & Bodán successfully resolves real estate dispute in El Salvador's tourist area
The legal advice provided to a prominent rural housing developer has resulted in the successful delineation of undivided rights in a property located in La Libertad, a department in El Salvador known for its archaeological parks, beautiful beaches, and natural attractions.
Nicaragua Will Have a New General Law of Tourism
The Official Gazette of Nicaragua has published the new General Law of Tourism in Official Journal No. 141, which will regulate and promote tourism activities in all its forms.
Nicaragua Issues Law to Encourage Tourism Development
The Official Gazette of Nicaragua has published the new Law of Incentives for Tourism Developments in Official Journal No. 141, aimed at promoting investment in tourism infrastructure through a package of fiscal and customs benefits.
García & Bodán Leads First Cash Group's Merger in Guatemala
García & Bodán led and coordinated the merger process of five companies within the First Cash Group in Guatemala. This strategic move strengthens the group's position in the market.
Costa Rica removed from the EU grey list: implications for the business sector
The Council of the European Union announced the removal of Costa Rica from Annex II of the List of Non-Cooperative Jurisdictions for Tax Purposes, following key reforms in fiscal transparency and international cooperation since 2022.
New administrative procurement law in Nicaragua
Law No. 1238, the “State Administrative Procurement Law,” unifies and regulates the procedures for public contracts, establishing new thresholds and requirements to improve transparency.
Amendment to the general banking law of Nicaragua strengthens financial sector regulation
Law No. 1237, "Amendment and Additions to Law No. 561, the General Banking Law, Non-Banking Financial Institutions, and Financial Groups," strengthens financial sector regulation by expanding and increasing capital and reserve requirements to enhance stability.
BCIE and Honduras sign loan agreement for the construction of the El Tablón Multipurpose Dam
The BCIE and Honduras have signed a loan of up to US $300 million for the construction of the El Tablón Multipurpose Dam, which will protect the Sula Valley and improve the supply of drinking water.
El Salvador will promote Artificial Intelligence with a new law
The new law for the Promotion of Artificial Intelligence and Technologies aims to encourage the development of artificial intelligence (AI) in the country through the creation of specialized laboratories, data centers, and a regulatory framework.
Guatemala expands requirement to include NIT in new procedures
Starting on April 9, 2025, Guatemala will expand the obligation to include the NIT in civil, commercial, and labor procedures, aiming to improve transparency and tax control in various areas.
New electronic invoicing system 4.4 in Costa Rica
The Ministry of Finance of Costa Rica has expanded the implementation of version 4.4 of electronic invoices. Starting September 1, 2025, all taxpayers must adopt the new version, with a transition period in April 2025.
New Nicaraguan Mandatory Technical Standard for medical devices comes into effect
In January 2025, the Nicaraguan Mandatory Technical Standard (NTON 24001) came into force, establishing requirements for the sanitary registration of medical devices, including risk classification and procedures for registration with the National Health Regulatory Authority.
Nicaragua implements new financial system law
Nicaragua updates its financial regulatory framework with the entry into forcé of Law No. 1232, the "Monetary and Financial System Administration Law," which unifies the regulations for the management of the monetary system.
Honduras strengthens health regulation with the creation of three new institutions
Honduras strengthens its health regulation with the creation of three new institutions: the National Center for Technovigilance, the National Center for Pharmacovigilance, and the National Center for Foodborne Diseases.
Public institutions, autonomous entities, and companies in El Salvador must prepare for the installa
Starting March 1, 2025, public institutions, autonomous entities, and private companies with 100 or more employees must comply with the obligation to ensure that the children of all their workers have access to an Early Childhood Care Center (CAPI).
New guidelines for opening accounts for foreign and Salvadoran investors abroad
The Attorney General's Office of El Salvador published the new guidelines for determining client risk categories, facilitating the opening of accounts and financial transactions for foreign investors and Salvadorans abroad. Compliance is mandatory for financial entities.
Opening of the Mediation Center at the Intellectual Property Registry of Guatemala
Guatemala inaugurated the Mediation Center at the Intellectual Property Registry, supported by WIPO. This new initiative aims to provide efficient and friendly solutions for resolving intellectual property conflicts.
Costa Rica simplifies the entry of health products with new regulation
Costa Rica has simplified the process of importing health products with a new regulation that speeds up the entry of products into free trade zones and active improvement regimes. Companies can re-enter products without sanitary registration, provided they are not intended for the national market.
Benefits and requirements for planning a tourism project in Nicaragua
Nicaragua has started implementing the Regulations of the Law on Incentives for Tourism Developments, offering fiscal benefits to investors in tourism projects such as hotels, restaurants, and parks, with exemptions from Income Tax, VAT, and other taxes.
New health regulation for food and beverages in Honduras
The Regulations for the Sanitary Control of Food and Beverages in Honduras establish new standards for the production, transportation, and commercialization of these products.
Progress in the energy sector in Honduras
Honduras is making strides in improving its energy sector with a review of tariffs and the tendering of 1,500 MW under the BOT model, which will attract investments to strengthen the country's infrastructure.
El Salvador and Costa Rica sign seven agreements to strengthen bilateral cooperation
The governments of El Salvador and Costa Rica have signed seven key agreements to strengthen cooperation in areas such as air transport, tourism, animal welfare, culture, economy, energy, and the environment.
New rates for the operating license in San Salvador Centro, El Salvador
The San Salvador Centro Municipal Government has implemented new rates for obtaining operating licenses for commercial, industrial, and service activities.
3,700 MW of renewable potential identified for Guatemala between 2024 and 2040
The Guatemalan Association of Renewable Energies (AGER) has identified a potential of 3,700 MW of renewable energy. Through long-term tenders, Guatemala has reduced electricity tariffs and attracted investments, establishing itself as a leader in clean energy in the region.
Minimum wage in Guatemala 2025: Increase and new guidelines
Starting January 1, 2025, Guatemala implemented a 10% increase in the minimum wage for agricultural and non-agricultural activities in Economic Circuits 1 and 2, while maquila and export activities will see a 6% increase.
Nicaragua Boosts Tourism Investment Through Tax Incentives
Nicaragua has exceptional tourism potential with its beaches, colonial cities, culture, cuisine, folklore, historical sites, natural reserves, and diverse activities that appeal to foreign visitors, particularly from the United States, Europe, and neighboring Central American countries.
El Salvador Offers Tax Incentives for High-Rise Real Estate Projects
The Legislative Assembly of El Salvador has approved new regulations that offer up to 15 years of income tax exemption to encourage vertical construction projects of over 35 floors.
Amendments to the Tax Code of El Salvador
El Salvador has approved significant reforms to the Tax Code aimed at simplifying the requirements for identifying buyers and service recipients. These modifications seek to facilitate the process for both individuals and legal entities, whether domestic or foreign.
Costa Rica Enacts Legislation to Harmonize Arbitration Statutes
Costa Rica’s Legislative Assembly approved the Law to Harmonize Costa Rican Arbitration Regulations (Docket No. 23.259), unifying the national and international arbitration regulatory framework in the country.
Guatemala’s New Credit Card Law
On September 1, the Decree 2-2024, which includes the Credit Card Law, came into effect. This regulation, which impacts both banks and other card-issuing entities, aims to modernize and expand existing regulations to enhance transparency and security in the use of these financial products.
García & Bodán successfully resolves real estate dispute in El Salvador's tourist area
The legal advice provided to a prominent rural housing developer has resulted in the successful delineation of undivided rights in a property located in La Libertad, a department in El Salvador known for its archaeological parks, beautiful beaches, and natural attractions.
Nicaragua Will Have a New General Law of Tourism
The Official Gazette of Nicaragua has published the new General Law of Tourism in Official Journal No. 141, which will regulate and promote tourism activities in all its forms.
Nicaragua Issues Law to Encourage Tourism Development
The Official Gazette of Nicaragua has published the new Law of Incentives for Tourism Developments in Official Journal No. 141, aimed at promoting investment in tourism infrastructure through a package of fiscal and customs benefits.
García & Bodán Leads First Cash Group's Merger in Guatemala
García & Bodán led and coordinated the merger process of five companies within the First Cash Group in Guatemala. This strategic move strengthens the group's position in the market.