1. BRAZIL : 27 TRADE BOARDS
Brazil is a federation of 27 States, ruled by a Federal Constitution
and by Federal, States, or Municipal laws.
Federal laws regulating corporate registration determine that
such activities must be developed by the States, under the
technical guidance of the Union.
There are hence 27 different Trade Boards in Brazil, but they all
act pursuant to a Federal statute.

2. The Rio Trade Board was the first one to be created. It is a
Governmental body and dates back to 1809, when the
Portuguese Royal family, fleeing from Napoleon, moved to Brazil.
Back in the past, the basic law for merchants was the 1850
Commercial Code. However, in recent years, pursuant to the
1988 Federal Constitution, many new business laws were enacted
- among them, the 2002 Civil Code and several regulations
concerning the use of IT by public authorities .

3. New regulations were also enacted in relation to
corporate governance standards for public corporations, and
several standards for the use of IT by all public bodies was also
put into force.
In order to allow for small business entities to legally
exist, Congress enacted laws creating two new kinds of very
small business entities.
Further, pursuant to Constitutional Amendment Nr. 18,
Public Administration officers are now liable for the efficiency of
their deeds, on top of the old rules of law, morality, impersonal
treatment of public affairs.

4. The Board of Trade of the State of Rio de Janeiro was
chosen as the centerpiece of all public registration bodies in our
State - which, apart from being a great honour, is also an
acknowledgment of the efforts being engaged by the Rio Trade
Board.
Keeping up present standards of performance and trying
to better them are a big challenge. The Rio Trade Board is now
also endeavouring to become more international, in the hope
that by doing so perhaps the overall investment climate in Rio is
upgraded.
We heartily look forward to being able to host you all in
Rio, in 2014. Follows a short statistical summary, and a brief
presentation on the city of Rio de Janeiro.

5. 2012
Limited
Limited Mutual Liability
Individual Liability Corpo- Assistance Individual
DEED Businessmen Companies rations Entities Entities Other Total
Articles of
Association and
Incorporation 9,155 24,995 461 50 3571 149 38,381
Modifications/
Amendments 6,007 51,441 4,238 408 338 360 62,792
LIquidations 3,689 5,400 80 7 14 42 9,232
Commercial Books 2,453 41,994 3,318 659 2 253 48,679
Certifications 3,127 48,187 6,585 240 125 1,215 59,479
24,431 172,017 14,682 1,364 4,050 2,019 218,563