The year 2023 has been pivotal for Torres Legal, solidifying its position as a leader in the legal industry. Its guidance in Corporate, Banking and Finance, Conflict Resolution, New Technologies, Taxation and Compliance, Intellectual Property, Labor and Immigration, Public Administration, and Civil Law forms the basis of the successful path carved in these twelve months. Our firm has reaped remarkable fruits, positioning itself at the forefront of innovation and success in the legal and technological spheres.

Reflecting on Torres Legal’s achievements throughout this year, standout success stories redefine the business landscape; the firm’s growth and strengthening with the entry of new partners and associates; garnering prestigious awards and recognition; forging strategic alliances; witnessing a significant rise with new clients entrusting Torres Legal’s services; alongside our prominent presence at relevant events and extensive media coverage highlighting our work and leadership.

Success Stories
At Torres Legal, we are committed to offering innovative and profitable solutions to our clients. We act as an ally who understands them and provides personalized attention. Proof of this is our role in complex commercial and corporate operations, as well as in defending our clients’ interests:

– Advising a startup on securing investment:

We supported Fintech Cubo Pago in successfully closing its seed round with a total investment of $3.5 million. This investment will drive the development and success of micro, small, and medium-sized enterprises in Central America. Our team worked hand-in-hand with Cubo Pago to ensure a transparent and efficient process, providing advice on the required documentation in the investment process. This ensured compliance with all legal and regulatory requirements, leading to the success of this significant operation.

– Authorization as a Digital Asset Provider:

We advised various startups in obtaining the Digital Asset Service Provider license in El Salvador. This license, regulated by the Digital Assets Issuance Law and the Digital Asset Service Provider Regulations, allows the company to operate as an issuer and marketer of tokenized assets, bringing cutting-edge financial technology to Salvadoran territory.

– First issuance of a public offering of digital assets in El Salvador:

 We advised a startup on the authorization of a public offering of digital assets amounting to $100 million, as well as its authorization as an issuer before the Digital Assets Commission in El Salvador. Throughout the process, we ensured that all documentation was in order and complied with the requirements established by law, also advising the company on the tax benefits it could avail itself of.

– Successful incorporation of a cryptocurrency company in El Salvador: 

We successfully advised a promising company in its incorporation process in El Salvador. The company operates as a groundbreaking platform that enables users to buy and sell dollars with the local currency using stablecoins and Bitcoin. This innovative company offers its users a one-stop shop for various operations, including a crypto wallet, a secure peer-to-peer marketplace, and efficient remittance services.

– Successful support in a real estate dispute:

We obtained a favorable outcome in a case that had been ongoing since 2017, involving a property located in San Salvador that was in an inheritance process. The case began when it was discovered that, before the issue of succession was discussed, a deed had been falsified in 2010, allowing the property to change hands without proper authorization. The judge ruled in favor of annulling the false deed, invalidating all related property transfers. As a result, the property remained under the legitimate heir’s name.

– Legal successes in public administration:

Torres Legal achieved another legal success by providing technical defense in an accounts trial for public administration officials regarding procurement procedures and purchases made during the COVID-19 pandemic emergency. Thanks to the work of the Public Administration Department, our clients were absolved of a financial liability of $2,900,000.00.

– Advising on the first certification and commercialization of Carbon Bonds in El Salvador:

Torres Legal participated in advising and executing the first contract for Carbon Bond certification in El Salvador. From studying the laws to drafting supporting documents and developing detailed execution plans, the aim was to provide legal certainty to the carbon bond generator, ensuring that electricity generation based on renewable sources could enter the market and execute its sale.
– **Successful corporate operation:** Our corporate team’s effort resulted in a successful maneuver in the acquisition of a highly valuable company. Our client was interested in specific assets of a company that had lost competitiveness due to market evolution. Despite the entity not generating profits and its shareholders and owners being elderly, they possessed valuable real estate assets.

New Partners
This year, we expanded our team with the addition of 4 new partners:

– Annette Herrera:

 Annette Herrera is a corporate and transactional lawyer with over 9 years of experience in the banking and financial sectors. Her expertise includes corporate governance, securitization, investment funds, national and international loans, acquisition financing, mergers and acquisitions (M&A), and corporate advisory services.

– Daniel Leiva Fortín:

 A lawyer and notary with over 8 years of experience in the banking and finance sectors, Daniel focuses on Fintech, Banking Law, and Insurance Law. He joins Torres Legal as the head of the Fintech Department, advising companies whose operations are related to technological solutions.

– Rubén Rivas: Our head of the Conflict Resolution Department joined Torres Legal as an associate lawyer in 2018. His promotion to Partner is a testament to his extensive experience in civil, commercial, constitutional, administrative litigation, real estate disputes, family matters, and alternative dispute resolution.
– Marta Patiño:

 Marta Patiño specializes in advising national and international clients on public investment processes in El Salvador and other jurisdictions. Her focus also includes technical assistance in legal and administrative areas, as well as assisting individuals and companies in becoming government suppliers and structuring their operations.

New Associates
– Andrea G.:

Andrea Gómez is a lawyer and notary with over 15 years of experience. She is an Associate at Torres Legal, advising companies and individuals on Fintech, New Technologies, Digital Assets, Cryptocurrencies, Tokenization, NFTs, and Decentralized Finance.

– Arturo Molina: 

Arturo Molina rejoins the firm as an Associate Lawyer with a specialized focus on the Corporate Department. His strong professional background is built on extensive experience in advising companies in various key areas, including commercial contracts, regulatory compliance, and cutting-edge business strategies.

Awards and Recognitions
We garnered individual and collective recognition for our work in advising individuals and companies in their business activities, legal disputes, and regulation of their activities. As a result, we have been included in international legal directories and awarded at one of the most important national events:

– Chambers and Partners Latin America 2024:
Corporate/Commercial
Dispute Resolution
Intellectual Property

– Chambers and Partners Global 2023:
Corporate/Commercial: Dispute Resolution

– The Legal 500 Latin America:
Corporate/M&A
Dispute Resolution
Intellectual Property

– Derecho y Negocios Awards 2023:
Firm in New Technologies Law
Operation of the Year
Fastest-Growing Firm

– IR Global:
Torres Legal became the only legal firm in El Salvador to offer its services in the foreign direct investment area of IR Global, a multidisciplinary professional services network that provides legal, accounting, and financial advice to companies and individuals worldwide.

– The 45 of 45 from Derecho y Negocios magazine:
Additionally, our managing partner, Héctor Torres, and our partners, Raquel Santos and Annette Herrera, were recognized by Derecho y Negocios magazine in the second edition of “45 of 45,” an event that honors young Salvadoran lawyers with the greatest impact and projection in the country.

– DyN Awards 2023:
The firm once again positioned itself as one of the big winners at the prestigious Derecho y Negocios awards gala. Torres Legal was recognized for Operation of the Year, received a second prize in the Fastest-Growing Firm category, and for the second consecutive year, won the award for Firms in New Technologies.

Partnerships
We forged an alliance with CYSAE, a Spanish firm specialized in New Technologies Law. This relationship has successfully advised clients in conducting transnational operations regarding Fintech and digital asset matters.

Billing and Clients
Throughout the year 2023, we secured interests valued at over one billion dollars for our clients in commercial transactions, litigation, and operational strategies. Over the past two years, Torres Legal has experienced remarkable growth, increasing its billing by 78% and expanding its client base by 65%.

Contribution to the Fintech Ecosystem in El Salvador
We took on the task of producing a Fintech Business Guide that outlines the current status, evolution, and business opportunities existing in the country:

– Current regulatory landscape.
– Emerging trends in Cryptocurrencies and Blockchain.
– Neobanks: drivers of financial digital transformation.
– Financial inclusion initiatives in the country.

Leader in New Technologies Law
We are the leading authorities in El Salvador regarding advice on Fintech, Cryptocurrencies, Tokenization, and New Technologies. Our trajectory is distinguished by a specialized focus on clients with 100% Salvadoran capital, allowing us to deeply understand the local business environment and offer tailored and effective advice for this constantly evolving market.

Our reach is not limited solely to El Salvador but extends across borders, reaching countries in the Latin American region. This expansion highlights our ability to offer cross-border advice, adapting to the various regulations and specific challenges of each nation.

Spokespersons and Event Presence
Our lawyers have actively participated as speakers in national and international events, as well as attending conferences of great significance in the legal and business sectors of Latin America, North America, and Europe. Some of the events where we’ve had a prominent presence include:

1.    Congreso Honduras FinTech 2023

2.    Young Partners Retreat Latam

3.    Blockchain Investors Summit 2023

4.    Evento Blockchain solidario contra el cáncer infantil

5.    LegalTech Summit El Salvador 2023

6.    Banking Tech Summit El Salvador 2023

7.    Mes de la Mediación de la Procuraduría General de la República

8.    Crypto Week Madrid Summit 2023

9.    Conferencia de la World Jurist Association en Madrid

10. Tech Day El Salvador 2023

11. Business Networking 2023 de la AmCham El Salvador

12. ASIPI Quito 2023

13. Conferencia sobre el Panorama FinTech en El Salvador

14. Conversatorio sobre Tokenización de Inmuebles en el Día del Internet 2023

15. Debate Intercolegial de la ESEN

16. Business Meeting de la AmCham El Salvador sobre financiamiento no tradicional

17. Panel sobre situación legal en El Salvador

Media Presence
We’ve been featured in various media outlets for our track record and excellence in the legal, business, and technological fields. During 2023, we appeared in different informative and specialized platforms focusing on legal, business, and technological matters

– Articles: 
1. The Pressing Technological Legal Revolution – Opinion article by our managing partner, Héctor Torres.
2. Workplace Safety: The Gateway to Occupational Safety and Health – Opinion article by our partner, Raquel Santos.
3. Justice and Technology in El Salvador: Challenges and Perspectives – Opinion article by our partner, Rubén Rivas.
4. Society in Blockchain, Inc.: Revolutionizing Business Structures – Opinion article by our managing partner, Héctor Torres.
5. The Impact of Technology and the Significance of Insurance in Economic Activity – Opinion article by our partner, Luis Domínguez.
6. Modernization of Public Works Contracting in El Salvador – Opinion article by our partner, Oscar Giralt.
7. Tokenize or Securitize? The Future of Real Estate Investment – Opinion article by our associate, Andrea Gómez.
8. New Law for the Development of the Technology Industry – Opinion article by our managing partner, Héctor Torres.

– Television Interviews:
9. Avoiding Debt to Cover Other Debts – Television interview with our managing partner, Héctor Torres.
10. Causes of Divorce in El Salvador – Television interview with our legal advisor, Chrystal Reyes.
11. Financial Asset Tokenization in El Salvador – Television interview with our managing partner, Héctor Torres.

– Radio Interviews: 
12. New Paradigms with Public Procurement Law – Radio interview with our managing partner, Héctor Torres, and our partner, Oscar Giralt.
13. The Fintech World and Regulations in El Salvador – Radio interview with our managing partner, Héctor Torres.

– Television Reports:
14. Newborn Procedures in El Salvador – Television report featuring our partner, Raquel Santos.
15. Navigating a Divorce Process in El Salvador – Television report featuring our partner, Rubén Rivas.

– Specialized Media Reports, Interviews, and News: 
16. Torres Legal: A Reference in the Fintech World – Report about the firm.
17. El Salvador Aims to Become a Technological Hub with Tax Exemptions – Interview with our managing partner, Héctor Torres.
18. Tax Incentives for New Technological Investments in El Salvador: What You Need to Know – Interview with our managing partner, Héctor Torres.
19. Chambers and Partners Recognizes Héctor Torres in their Global Guide – Report about our managing partner, Héctor Torres.
20. Current Status and Future Perspectives of Bitcoin in El Salvador? – Interview with our managing partner, Héctor Torres.
21. Launch of a Fintech Business Guide in El Salvador Facilitating Key Investor Guidance – News about our Fintech Business Guide in El Salvador.
22. Torres Legal Publishes Fintech Guide for Investors in El Salvador – News about our Fintech Business Guide in El Salvador.
23. An Overview of the Fintech Market in El Salvador – News about our Fintech Business Guide in El Salvador.
24. Launch of Fintech Business Guide in El Salvador – News about our Fintech Business Guide in El Salvador.
25. 80% of Salvadoran Fintech Companies are Growing and Expanding – News about our Fintech Business Guide in El Salvador.

– Podcasts:
26. Neobanks: Drivers of Financial Digital Transformation – Interview with our managing partner, Héctor Torres.
27. Know the Advances in El Salvador with Héctor Torres and Cryptoweeksummit Madrid 2023 Updates with David Aranzabal – Interview with our managing partner, Héctor Torres.