Valuation services

The Valuation law and its amendments (Official Gazette No.115/2010, 158/2011, 185/2011, 51/2012 and 64/2012) regulates the area of valuations. According to this law, the estimation of the market price of the subject of the valuation shall be performed by the methodology, the rules and the standards for evaluation, that include international standards for value assessments, as well as some other laws governing the value of different forms of ownership and also the regulations related with them.

According to the Valuation law, valuations are performed in the following areas:

  • Companies, public enterprises and other legal entities
  • Real estate
  • Movable property
  • Claims and liabilities
  • Machinery and equipment
  • Means of transport
  • Agriculture, forestry and water management
  • Industrial property
  • Copyright and related rights
  • Environmental protection
  • Information technology
  • Police and military equipment and
  • Other areas determined by law

A valuation is performed in one of the following cases:

  • Transfer of title
  • Determination of the equity value in cases in which there is a change of its value and its structure and also in cases of status changes
  • Bankruptcy and liquidation proceedings
  • When financing and raising mortgage and credit pledge
  • Offsetting claim
  • Expropriation procedure
  • Taxation with property taxes
  • Investment consulting and
  • Other cases determined by law

A valuation service can be performed by physical entity – sole proprietorship and Valuation Company registered according to the Company law, licensed for evaluation and it is registered in the appropriate register of authorized assessors.

During year 2012, M.Sc. Ljubica Joanidis successfully has passed the exams for:

  • Real estate
  • Receivables and payables
  • Companies, public enterprises and other legal entities
  • Industrial property

There is ongoing procedure for obtaining licenses for all aforementioned areas for the audit company Baker Tilly Joanidis.