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Institute of Certified Valuers of Montenegro 
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Bulevar Ivana Crnojevića 65
ME-81 000 Podgorica

Tel: +382 20 634 114
Fax: +382 20 634 114


President: Sanja Radović MSc REV
Managing Director: Miloš Knežević PhD
Secretary: Dragan Radulović
Number of direct members: 122
Number of qualified valuers (inviduals): 31
Number of students members: 15
Number of valuation companies: none
Member of TEGoVA since: November 2013
Category of membership: Associate


The Institute of Certified Valuers of Montenegro was established on 10 January 2013. The institute promotes best practice, valuation standards and continuing professional development for valuation professionals in Montenegro.

Permanent Represenatives to TEGoVA

Sanja Radović

Sanja Radović MSc REV

Cell: +382 67 240074

Miloš Knežević PhD

Miloš Knežević PhD

Chair of the Managing Board

Brief History and Role

The Institute of Certified Valuers of Montenegro is an independent, non-governmental and non-profit organisation founded in January 2013. Since then it has been dedicated to promoting best practice and valuation standards and offering continuing professional development for valuation professionals in Montenegro.

Principal Activities

The Institute offers high standard professional training, mentoring, certification (Certified Valuer), monitoring and continuing professional development.

The Institute has an established cooperation with various professional organizations and other institutions both in Montenegro and internationally with the aim harmonising national valuation practice with generally accepted international valuation practice.

The Institute makes significant efforts to encourage exchange of best practice, ideas, opinions and information through networking, training, events and media.

Principal Areas of Policy

- Development of educational and training programmes for valuers

- Promotion of valuer's profession in Montenegro

- Standard-setting in the area of valuation in Montenegro

- Cooperation with other professional organizations and institutions both in Montenegro and internationally


The Institute is constituted by the following bodies: the Assembly, the President, The Board of Directors, Committees and the Secretary.


Membership is voluntary and consists of qualified valuation professionals who adhere to the Institute's Statute and Code of Ethics.


IOPCG translated the European Valuation Standards 2016 into Montenegrin.

Awarding member association

Recognised European Valuer
Awarding Member Association

The association has the right to award Recognised European Valuer status (designated by the letters REV) to its members.