The valuation may be necessary for purchase, sale, rent, conversion, development of the property, as well as for other purposes, including those required by law or regulations. However in all cases the estimated value will reflect only a valuer’s opinion of the most probable price to be paid for an asset in an exchange, or the economic benefits of owning an asset. Because valuation requires the exercise of skill and judgement, it is a fundamental expectation that valuations are prepared by a person, having the appropriate technical skills, experience and knowledge of the subject of the valuation, the market in which it trades and the purpose of the valuation.
This is the reason why the property valuation should be done only by an independent professional appraiser, who possesses the necessary knowledge and skills to ensure the valuation is in line with the Latvian Property Valuation Standards LVS401, European Valuation Standards (EVS), International Valuation Standards (IVS), regulatory enactments of the Republic of Latvia and Appraisers Code of Ethics.
The competence of SIA “BIZNESA KONSULTANTU GRUPA” in the valuation of real property, plant and equipment, business and intangible assets is certified by the Certificate of Competence issued by the Competence Bureau by the Latvian Association of Property Appraisers.
This certificate ensures SIA “BIZNESA KONSULTANTU GRUPA” valuation services are provided only by permanently engaged professional valuers, whose professional qualifications in valuation of real property, plant and equipment, business and intangible assets are thoughtfully examined and certified towards the requirements set by the Latvian Association of Property Appraisers (LIVA) and The European Group of Valuers' Associations (TEGoVA).
SIA “BIZNESA KONSULTANTU GRUPA” is approved by the Register of Enterprises of the Republic of Latvia as the independent expert with rights to draw report on any consideration other than in cash before the company is incorporated or is authorised to commence business, or where shares are issued for consideration other than in cash in the course of an increase in the subscribed capital.
As at least half of the directors, registered partners or employees of our company are fully subscribed and practising members of the Recognised European Valuer Programme by TEGoVA and are awarded Recognized European Valuer (REV) title, SIA “BIZNESA KONSULTANTU GRUPA” is entitled to use the designation “Recognised European Valuers”.