Risk Management in Russia

Risk Management in Russia

Updated on Saturday 15th December 2018

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Risk-management-in-Russia.pngRussia, one of the largest countries in the world, is also one of the most sought destinations by foreign enterprisers and companies. However, like in all other countries opening a company in Russia involves certain risks which usually must be taken into consideration before and after the registration of the company. This is one of the main reasons during the years there have been many developments in the risk management area. Moreover, Russia is currently trying to create a legal framework through which risk management strategies should be implemented in various industries.

Our lawyers in Russia can assist foreign investors seeking to register a business here.

Risk management strategies in Russian companies

Company registration in Russia falls under the Commercial Code which also provides for the administration of companies which falls onto the managers, directors or board of directors in certain cases. One of the provisions of the Commercial Law refers to the expertise of directors and managers who must have considerable experience precisely for cases in which they are required to assess the risks a company could be subject to. In order to achieve this, most Russian companies will have risk management strategies in place. Some of these strategies are established when to company is registered, while other risk management policies are development for certain situations such as investment or financial planning.

You should also know that a law firm in Russia can offer assistance in establishing risk management plans related to legal matters. 

You can also watch the video below for more information on risk management strategies in Russia:

Types of risk management plans in Russia

Most companies in Russia seek assistance when it comes to establishing risk management strategies in order make sure they have covered all the situations which could lead to various damages. Companies can receive assistance in setting up the following types of risk management strategies in Russia:

  • -          financial risk management planning;
  • -          employment liability risk management planning;
  • -          legal risk management planning;
  • -          operational risk management strategies;
  • -          professional risk management strategies;
  • -          market risk management strategies.

It should be noted that financial companies and investment funds are required to have specific risk management policies which are established by the law.

For full information on how to draft a risk management plan, please contact our Russian lawyers.