Torres Plaz & Araujo (TPA) is a full-service law firm. Established in 1972, as a tax boutique, the firm has managed to continue to be a leading firm in tax practice in the Venezuelan market while becoming one of the top full-service law firms recognised by clients and peers. The values that have allowed TPA to be considered such a top firm are its drive for innovative solutions, commitment to its clients, responsiveness, integrity and – above all – a professional culture not limited at identifying the issues under the law but at integrating the analysis with financial knowledge and an understanding of how said issues play for its clients.

Main areas of practice

Tax: TPA leadership in the field of tax law is based in its long-term experience and savvy in structuring and restructuring businesses into Venezuela and overseas. The firm has acted as special tax counsel in large cross-border transactions and has particular expertise with regard to the interrelation between domestic tax law, foreign tax law and tax treaties. TPA professionals are experienced in assisting clients with all features of taxation, including areas such as tax planning, anti-deferral regimes, transfer pricing, tax litigation and tax compliance.

Corporate: TPA provides legal support in all relevant features of commercial life, assisting on structuring foreign investments into Venezuela to secure protection in a changing environment and optimising the use of bilateral investment treaties. TPA advises in major corporate and project finance, M&A, bankruptcy law, banking and financial matters, asset protection and capital markets.

Antitrust and competition: Our specialists handles all issues related to international and local unfair competition, covering the application of legislation prohibiting restrictive practices and abuse of market power, defence of competition (unfair competition, concentrations or mergers and unilateral practices); dispute resolution, economic and commercial integration.

Energy: In-depth knowledge and experience makes TPA a key player in structuring oil and gas projects in Venezuela, as well as advising petrochemical ventures and oil and gas contractors. The breadth of expertise of TPA spans from its advice since the mid 1980s and in much of the opening in the 1990s, including major project finances for Faja projects, to the migration of operating services agreements and association agreements into joint ventures (empresas mixtas), and the negotiation of new blocks for empresas mixtas, gas licences and oil and gas service contracts.

Administrative: The representation of the rights and interests of clients, and engaging in negotiations and discussions with all public sector authorities are currently among the most demanding services offered. TPA also has significant experience in assisting and resolving conflicts with the administration in all regulatory matters.

Litigation, dispute resolution and arbitration: All modern forms of resolving differences, in the area of traditional litigation, are handled by the firm’s team, always showing its significant experience in dealing effectively with high-level litigation cases including: insolvency cases and bankruptcy procedures. TPA offers advice in civil, commercial and labour-related proceedings, as well as local and international arbitration matters.

Family businesses and personal wealth structuring: TPA has long been recognised for its experience offering advice in the structuring and management of family businesses and in wealth structuring for high net worth individuals and families locally and abroad.

Consumer protection: TPA has wide experience in client procedures before INDEPABIS, related to administrative conciliatory acts, as well as in administrative appeals and court litigation.

Aviation: TPA has successfully managed the most relevant aeronautical accidents that have taken place in Venezuela. The firm offers comprehensive services in the field of aeronautical law, focusing our practice on aircraft acquisitions and advising in the regulatory aspects of commercial and private aviation. We also address liability derived from aeronautical activities in general and the rights of insurance companies in this particular field.


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