Evaluation

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Evaluation Services

At any stage of the company’s development, an accurate expert evaluation of the assets, the value of the company, and the market position of the brand is important. This, in turn, allows the company’s management to make quick decisions about the future of the existing business and, if necessary, even to change priorities and reorder the structure.

The expert group of “SME” LLC has extensive practical experience in the field of valuation and consulting services. We provide our customers with accurate and objective information on evaluation of investments, valuation of movable and immovable property, valuation of the company, the real market position for partners, consumers and competitors, as well as the current situation in terms of brand reputation. Owing to a rich portfolio in various sectors of the economy, our experts promptly advise the company’s management to pay attention to the areas of greatest risk when working on any project.

Evaluation Services in Azerbaijan

“SME” LLC offers services in evaluation of any type of movable and immovable property, vehicles, enterprises, other types of property and damage caused as a result of insured events, by various methods in accordance with international standards and principles of assessment based on Appraisal Activities Act of the Republic of Azerbaijan and other legislative acts. Evaluation services, promptly provided at a high level by professional specialists and experienced expert appraisers, are carried out officially on the basis of requests from legal entities and individuals.

Cost valuation means determination of the value of the subject of valuation at a certain point according to the selected valuation standards. As a rule, property valuation is divided into 4 main groups:

Assessment of the value of the enterprise (business);
Real estate valuation;
Evaluation of equipment (including car and other vehicles);
Valuation of intangible assets and intellectual property

Depending on the purpose of evaluation, the following types of values are used in implementation of evaluation activities:

Market price
Investment value
Liquidity value
Cadastral value

The legislative framework for valuation activities in the Republic of Azerbaijan:

The Civil Code of the Republic of Azerbaijan approved by the Law of the Republic of Azerbaijan No. 779IQ dated December 28, 1999
Valuation Activities Act of the Republic of Azerbaijan No. 510-IQ dated June 25, 1998 (as amended by Law on April 20, 2012, No. 336-IVQD)
Assessment Standards and Norms, Professional Appraisers Training Rules, approved by the Resolution of the Cabinet of Ministers of the Republic of Azerbaijan No. 107 dated June 27, 2007
Procedure for Calculating the Purchase Price of Real Estate Purchased for State Needs, approved by the Resolution of the Cabinet of Ministers of the Republic of Azerbaijan No. 54 dated April 04, 2009;
Standard Requirements for Issue by Authorized Credit Organizations of Mortgage Loans Refinanced by the Azerbaijan Mortgage Fund under the Central Bank of the Republic of Azerbaijan, approved by the decision of the Board of the Central Bank of the Republic of Azerbaijan dated February 09, 2006 (Minutes No. 3);
Rules for Maintaining the Registry of Professional Participants in the Insurance Market, approved by order of the Ministry of Finance of the Republic of Azerbaijan No. İ-110 dated November 14, 2008.

In general, according to the current legislation of the Republic of Azerbaijan, evaluation can be carried out both voluntarily and forcefully. In valuation activities, 3 main approaches (methods) are used:

Cost approach is a property valuation method based on determining the cost of creating, changing and using property, taking into account all types of depreciation. The cost approach implements the principle of replacement which is expressed in the fact that the buyer does not pay for the finished object more than for creating a new, equally profitable object. The cost approach in evaluating machinery and equipment is to pay the cost of the full reproduction (complete replacement) of the valuation subject, subject to deducting the cost of losses of all types of depreciation and impairment. When determining the full cost of reproduction and replacement, all expenses are taken into account, including the cost of transportation, freight transportation, installation, commissioning, etc. The key element in determining the full cost of reproduction and replacement is the production cost of an object that is identical and similar to the valuation object (production costs)

Application of the income approach is carried out as a result of forecasting future income for several years. In most cases, this approach is not used in determining the cost of machinery and equipment, since the income is obtained as a result of the entire complex operation. An exception is objects that can themselves generate income (printing and duplicating equipment, a small bread factory, trucks, etc.). The cost of machinery and equipment, estimated using the income approach, is determined as follows: the net income of the production complex is calculated; the residual method determines the part of income related to the machinery complex; the capitalization method or a decrease in cash income measures the value of the entire machinery fleet; the value of individual objects is calculated at the carrying amount.

Suitable sales comparison approach is a set of cost evaluations of the property being valued, based on comparing the property being valued with a similar property whose transaction prices are known. The basis of this approach is that the value of the property being evaluated is determined directly according to the selling prices of similar objects. Each comparable selling price is compared with the selling price of the property being evaluated. It should be noted that evaluation of any type of property is required during mortgaging, buying and selling, privatizing, distributing, renting, insuring, taxing, determining damage, putting up for auction, liquidation of a legal entity, returning property for state needs and in other cases.

“SME” LLC offers services for determining the official value of the following valuation items:

ON REAL ESTATE PROPERTY

Apartments
Lands
Private residential houses
Land allocated for construction of non-residential buildings and multi-storey residential buildings
Non-residential areas
Agricultural and industrial vacant lands
Garages
Production facilities and barns

MACHINES AND EQUIPMENT

Series production equipment
Special or custom equipment
Technological lines
Construction and road equipment, lifting vehicles
Computer equipment and communications

VEHICLES

Cars

COMPANIES

Small enterprises
Medium-sized enterprises
Large enterprises

Business evaluation is carried out by “SME” LLC on the basis of Certificate of the Azerbaijan Society of Appraisers.

Consulting company “SME” was founded by Doctor of Economics and lawyer Namazov Ilgar in 1990.

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Rimma Zeynalova

Chief legal lawyer

Rimma holds a master’s degree in law from the Moscow State Industrial University, which she obtained in 2017. With over 7 years of experience in the legal field, Rimma specializes in corporate law, commercial law, dispute resolution, and legal consultations in tax and labor law. She has extensive experience in client work, negotiations, and representing company interests in court.

Subhan Namazov

Founder and director of the company

Subhan has many years of experience in business management and development. He holds a master’s degree in management from Western University of Azerbaijan.
His specialization includes corporate law, where he helps companies establish a legal foundation for effective management and growth. In tax law, Subhan ensures the optimization of tax strategies and compliance with legislation, facilitating successful business financial planning. In financial and banking law, he provides consulting on legal aspects of financing and banking operations, which strengthens the financial stability of the company’s clients and partners.
With his expert support in these areas, Subhan successfully helps companies achieve their goals by solving complex legal and managerial tasks.

Panfyorova Sofya

Accountant - specialist

She obtained a bachelor’s degree in world economics from the Azerbaijan State University of Economics. Sofya has experience in accounting and specializes in maintaining records, preparing tax reports, analyzing financial data, and drafting budgets. Her professional practice includes client interaction, financial audits, and ensuring compliance with tax laws.

Yelena Ismailova

Lead human resources accountant

She obtained a bachelor’s degree in Finance and Credit from the Azerbaijan State University of Economics in 2006.
Yelena has more than 15 years of experience in accounting and HR administration. She is skilled in payroll accounting, HR documentation preparation, personnel calculations, and ensuring compliance with labor laws. Her specialization includes drafting employment contracts, calculating leave and benefits, maintaining time records, and liaising with regulatory authorities.

Ismail Ismailov

Client manager

Ismail has experience in client management and support. He obtained a bachelor’s degree from the Academy of Public Administration under the President of the Republic of Azerbaijan.
Ismail specializes in identifying and attracting new clients, building long-term relationships with corporate partners, and developing and implementing strategies to improve client experience. His skills include negotiations, contract conclusion, and market data analysis to enhance customer service quality.

Gulustan Isaeva

Junior lawyer

Gulustan graduated with a bachelor’s degree in law from Baku State University in 2024.
Gulustan specializes in preparing legal documents, conducting legal research, organizing meetings, and supporting transactions. She is skilled in business correspondence, client consultations, and assisting the chief legal officer in corporate and commercial law matters.

Nazrin Hajiyeva

Director’s assistant

Nazrin obtained a bachelor’s degree in Accounting and Auditing from the Azerbaijan State University of Economics in 2018.
Nazrin has over 5 years of experience in administrative support. She specializes in coordinating work schedules, organizing meetings and events, handling business correspondence, and preparing reports and documentation. Nazrin possesses excellent project management and interpersonal communication skills, which help her effectively collaborate with employees and clients.

Gunel Bayramzade

Business Partner and Executive Director.

Gunel Bayramzade holds a Bachelor’s degree in English from the Azerbaijan University of Languages. With extensive leadership experience, Gunel Bayramzade serves as the Executive Director and Business Partner at SME. Known for her strategic vision and commitment to improving operational efficiency, Gunel Bayramzade has played a key role in shaping the company’s direction and driving its growth. Her focus on fostering innovation and creating a dynamic work environment has helped SME achieve significant success. Through her keen insight into identifying opportunities and dedication to talent development, Gunel Bayramzade ensures that each team member contributes meaningfully to the company’s success. She strives to maintain a forward-thinking approach while achieving both short-term and long-term goals.

Jafar Alizade

Chief financial director

Jafar received a master’s degree in auditing from the Azerbaijan State University of Economics in 2009. Jafar Alizade has over 15 years of experience in financial management and tax matters. He specializes in budget management, financial analysis, investment planning, and tax expense optimization. Jafar has extensive experience in developing and implementing financial strategies to improve company profitability and sustainable growth, as well as in tax accounting and planning. He is responsible for preparing tax reports, optimizing tax obligations, and interacting with tax authorities. Jafar possesses in-depth knowledge of Azerbaijani law and international tax agreements, allowing him to successfully advise clients on taxation matters.

Vugar Abdullayev

Chief accountant

Vugar Abdullayev has over 14 years of experience in accounting. He possesses deep knowledge in financial accounting, tax planning, auditing, and budgeting. He specializes in preparing financial statements, managing tax risks, controlling cash flows, and ensuring regulatory compliance.