What is a RICS Registered Valuer?
A RICS Registered Valuer is a RICS member enrolled in the Valuer Registration Scheme, which is mandatory for members who do most valuation work. They must comply with the Red Book and are monitored by RICS. It is a professional designation, not a Portuguese legal licence. For financial-system work in Portugal, CMVM registration is also required.
What does the scheme require?
The Valuer Registration Scheme is a mandatory regulatory scheme for RICS members who undertake most valuation services, unless an exception in the Red Book (PS 1, section 5) applies. Members agree to be audited, renew each year, and may use the designation RICS Registered Valuer. The official RICS Spanish translation of the Red Book also calls the scheme the Registro de Valoradores de RICS (RV).
Is it the same as being registered with the CMVM?
No. Registration with the CMVM (Law 153/2015) is the Portuguese legal requirement for valuing property for banks, investment funds, insurers, reinsurers and pension funds. RICS registration is a professional quality-assurance scheme that sits on Red Book compliance. One person can hold both. I am a CMVM-registered valuer and a RICS Registered Valuer, and I chaired RICS Portugal from 2020 to 2025.
Does a RICS Registered Valuer also follow the IVS?
Yes. The Red Book adopts and applies the IVS, so a Red Book valuation is also prepared under the IVS. See IVS vs Red Book and What is a Red Book valuation?.
Read next
- What is a Red Book valuation?
- IVS vs Red Book
- What are the International Valuation Standards?
- José Covas FRICS