Article 3 of the Saudi Accredited Valuers Law
المادة 3 من نظام المقيمين المعتمدين
The article bars any natural or legal person from practicing the valuation profession in any branch unless licensed to practice it in the same branch.
Official text (Arabic)
This article has not been amended since the law was issued.
لا يحق لأي شخص ذي صفة طبيعية أو اعتبارية مزاولة مهنة التقييم في أي فرع من فروع التقييم ما لم يكن مرخصاً له بمزاولة المهنة في الفرع نفسه.
This is the official Arabic wording, the only legally binding version. We do not translate the law itself; the explanation below is ours. Official source: Bureau of Experts at the Council of Ministers
Article 3 explained in plain English
This article is the Law's licensing rule, and one of its most important provisions.
The rule: no person, whether natural or legal, may practice the valuation profession in any branch of valuation unless licensed to practice the profession in the same branch.
Elements of the rule:
- It covers individuals and companies: a natural person (an individual) and a legal person (such as a company) are equal in this prohibition.
- A license for each branch: under Article 1, the branches of valuation are three: real estate, economic establishments, and equipment and movable property. A license in one branch is not enough to practice another branch.
Practical effect:
- A valuer licensed in the real estate branch may not value a company or a trademark, because that falls within the economic establishments branch, unless also licensed in it.
- It is not enough for the valuer to be licensed in any branch; what counts is their license in the branch in which the valuation falls.
Relation to other articles: Article 4 provides for creating a register at the Authority for each branch of valuation in which accredited valuers are entered, and this article is consistent with the Law's aim in Article 2 of setting the controls needed for valuation work. Under Article 1, an accredited valuer is one licensed to practice the profession under this Law.
A person who wishes to practice the profession or faces questioning about a license may consult a lawyer who specializes in commercial cases.
Practical example
An office in Riyadh licensed in real estate valuation is asked by a client to value the client's share in a commercial company ahead of selling it. Under the article, the office may not carry out this valuation unless it is also licensed in the economic establishments branch.
Translated from our Arabic explanation with machine assistance. For guidance only; it does not replace advice from a lawyer on your situation.
How we write and review contentCommercial & Corporate Law lawyers: ask a specialist about your case
Describe your situation briefly and we'll suggest a lawyer who specialises in this law
Commercial & Corporate Law lawyers
Lawyers who handle this kind of case
Ibrahim Al Salem Law Firm
Active contributor
Dr. Ali Al-Rubaie Law Office and Ittihad Al-Asr Legal Company
Frequently asked questions about Article 3 of the Saudi Accredited Valuers Law
Can I practice real estate valuation without a license?
No. No natural or legal person may practice the valuation profession in any branch unless licensed in the same branch.
Is a real estate valuation license enough to value companies?
No. The license is for each branch, and valuing economic establishments is a separate branch from real estate.
More articles on Licensing the Practice of Valuation
- Article 4Amended by M/190
The article creates a register at the Authority for each branch of valuation in which individual valuers are entered, and requires valuers that are companies also to register in the professional companies register at the Ministry of Commerce.
ينشأ في الهيئة سجل لكل فرع من فروع التقييم يقيد فيه أسماء المقيّمين المعتمدين إذا كانوا أشخاصاً ذوي صفة طبيعية . أما إذا كانوا أشخاصاً ذوي صفة اعتبارية فيسجلون
- Article 5
The article requires a person entered in the valuers' register to be a Saudi of full legal capacity and good conduct, not sentenced for a hadd or a disreputable crime, experienced in the branch, and a basic member of the Authority.
يشترط فيمن يقيد اسمه في السجل أن يكون : 1 ـ سعودي الجنسية . 2 ـ كامل الأهلية . 3 ـ حسن السيرة والسلوك، وغير محكوم عليه بحد شرعي، أو في جريمة مخلة بالشرف أو الأم
- Article 6
The article refers to the Implementing Regulations the specification of valuation work for which the Authority's Board sees a need for additional experience, and the period of suspension does not count toward that period.
تحدد اللائحة التنفيذية أعمال التقييم التي يرى مجلس إدارة الهيئة ضرورة توافر مدة إضافية من الخبرة لمزاولتها ، ولا تدخل مدة الإيقاف المنصوص عليها في هذا النظام في
- Article 7Amended by M/190
The article regulates the valuers' registration committee of three members including a legal adviser, requires it to give reasons for refusing an application, and lets a refused applicant file a grievance with the Board of Grievances.
أ ـ تشكل في الهيئة بقرار من المجلس لجنة تسمى (لجنة قيد المقيّمين)، من ثلاثة أعضاء يكون من بينهم مستشار قانوني، ومقيّم مزاول من كل فرع من فروع التقييم المختلفة.
- Article 8Amended by M/190
This article provides that the Authority issues the license to practice valuation in the branch named in the registration application after registration in the register, and refers the issuing procedures, fee, term and renewal conditions to the Regulations.
بعد القيد في السجل، تصدر الهيئة الترخيص بمزاولة مهنة التقييم في الفرع الوارد في طلب القيد، وتحدد اللائحة التنفيذية إجراءات إصداره، والمقابل المالي له، ومدته، وش
- Article 9
This article allows the Authority, in accordance with the Implementing Regulations, to consider applications from professionals who are members of other professional bodies for a license to practice valuation, under the conditions in the law.
للهيئة أن تنظر - وفقاً لما تحدده اللائحة التنفيذية- في الطلبات التي يقدمها مهنيون آخرون (أعضاء في هيئات مهنية أخرى) للحصول على ترخيص بمزاولة المهنة، وذلك وفقاً
The texts are reproduced from the official website of the Bureau of Experts at the Council of Ministers for reference; where they differ, the officially published Arabic text prevails. This content is not legal advice.