What Is ICV Certification in UAE and How to Get It?

The UAE has a competitive business world where companies are judged based on their profits and their contribution to the local economy. Nevertheless, the launch of the In-Country Value (ICV) Program or the ICV certificate Dubai, in February 2020, comes as a game-changer for UAE businesses, allowing them to demonstrate their commitment to supporting local industries, creating employment opportunities, and driving sustainable economic growth across the country. 

It further boosts opportunities for the business to work with government and semi-government entities and strengthen their relationships with local partners. As the demand for ICV compliance continues to grow in the UAE, more businesses are choosing this certification to stay ahead in the market.  

This guide elucidates on the ICV program for businesses, its purpose and importance, and the process to get ICV-certified in the UAE. 

What Is an ICVCertificateDubai? 

With the intent to strengthen the national economy and encourage local business growth, the UAE Ministry of Industry and Advanced Technology (MoIAT) introduced ICV (In-Country Value) Certification, which evaluates the extent to which a company contributes to the national economy through its operations, spending, investments, and workforce development. 

The authorities evaluate the following factors before issuing an In-Country Value certificate in the UAE: 

• Expenditure on local suppliers and services 
• Use of UAE-manufactured products 
• Investments within the UAE 
• Emiratisation and employee training initiatives 
• Overall contribution to the economy  

Today, many businesses, especially those involved in manufacturing, trading, construction, oil & gas, and professional services are applying for the ICV certificate in the UAE to stay competitive, strengthen their market position, and align with the country’s long-term economic vision. 

Businesses That Need ICV Certificate Dubai 

The following entities must obtain an ICV certificate in the UAE: 

1. Companies Working With Government and Semi-Government Entities 

• Businesses that supply products or services to government-linked organisations.  

• A strong ICV score can help during tender evaluations and gain valuable opportunities.
   

2. Manufacturing Companies  

• Manufacturers with factories, local sourcing, and UAE-based operations can achieve higher ICV scores with local production and industrial growth. 

• Includes industries like food manufacturing, construction materials, packaging, textiles, electronics, and industrial equipment.
   

3. Service-Based Businesses  

• Companies offering consultancy, IT services, logistics, maintenance, facility management, marketing, engineering, and professional services. 

• Helps improve credibility and business opportunities.  
  
  

4. Trading and Commercial Companies  

• Import-export firms, wholesalers, distributors, and general trading companies that deal with large corporate clients or government projects. 

• Factors such as local staffing, office operations, and local procurement helps contribute to the overall ICV score. 
  
  

5. Oil, Gas, and Energy Sector Businesses  

• One of the first sectors to adopt the ICV program.  

• Contractors, suppliers, engineering firms, and energy-related businesses often require the certification to participate in projects with ADNOC and other major entities.  
  
  

6. SMEs and Startups  

• Startups and Small and medium-sized businesses can gain a competitive edge with the ICV certification UAE.  

• It helps them build stronger partnerships and access new opportunities as they grow. 

Objectives of ICV Certificate Dubai

The key objectives of the National ICV Program include the following: 

• Strengthening the Economy – Encouraging businesses to buy, invest, and operate locally in the UAE to boost economic growth, keep more business value within the country, and support long-term diversification beyond the oil and gas sectors. 

• Encouraging Local Business Growth - To help small and medium-sized enterprises grow and create a stronger local supply chain across different industries and with local suppliers, manufacturers, and service providers. 

• Creating More Opportunities for Emiratis - To increase job opportunities for UAE nationals and help companies build a skilled local workforce for the future. 

• Bringing Innovation and Expertise to the UAE - To motivate international companies to bring advanced technologies, industry knowledge, and expertise into the country, benefiting both local businesses and the overall business environment in the UAE. 

• Attracting Quality Foreign Investment - To encourage foreign investors to contribute directly to the local economy and generate better opportunities for them to work on government and semi-government projects. 

• Supporting Business Expansion in the UAE - To improve the credibility and competitiveness of businesses in the market and help them secure new contracts and partnerships in both the public and private sectors. 

Thus, the ICV certificate Dubai is vital for companies seeking sustainable growth and building strong relationships in the UAE market. 

Eligibility Criteria for ICV Certificate Dubai 

Companies applying for an ICV Certificate must meet certain eligibility criteria, including valid registration, financial records, and accurate documentation supporting ICV score.  

• Trade License – A valid trade license issued by the relevant authority in the UAE. 

• Audited Financial Statements – Certified audited financial statements of the company.  

• Active UAE Operations – Documents supporting supplier purchases, employee details, payroll, local expenses, investment records, and revenue schedules. 

• NAFIS Registration – Completed NAFIS registration as Partners (for private companies) 

What Is an ICV Score? 

The ICV score is a metric used to assess the company’s contribution to the national economy. The higher the score, the greater the value brought by the company to the country. 

Tiers and ICV Scores  

• Tier 1 Suppliers: Entities directly providing goods or services to government entities or program partners.  

• Tier 2 and Below: Companies supplying to Tier 1. 

During government tenders, the ICV score, price, and technical expertise of companies is considered in the bid criteria. A higher ICV score potentially increases the chances for the company to win the tender. 

Requirements for ICV Certificate Dubai 

The common requirements for obtaining an ICV certificate Dubai include:  

• Local Procurement and Spending: Companies must show their purchases made from suppliers based within the UAE. 

• Employment of UAE Nationals: Businesses must hire and support Emirati talent and have UAE nationals as part of the workforce. 

• Investment Within the UAE: Companies must provide records of business investments, including equipment, infrastructure, office setups, manufacturing facilities, and other operational assets, made within the country. 

• Audited Financial Statements: Companies must submit audited financial statements prepared as per the approved accounting standards. 

• Operational Presence in the UAE: Businesses should have active operations within the country, showing their direct contribution to economic growth and development. 

How to GetICVCertificate in UAE? 

The ICV certification process is designed to evaluate the country’s contribution to the UAE economy through local spending, investments, and employment. The simple step-by-step guide on how to get ICV certificate in UAE:

Step 1: Check the Business Eligibility  

Confirm whether the company requires an ICV in the UAE, especially businesses involved in the oil & gas, construction, healthcare, manufacturing, logistics sectors, and government contracting.  

Step 2: Prepare the Required Documents  

Gather all the necessary documents, including:  

• Audited financial statements  
• Management accounts 
• Details of purchases made from local suppliers 
• Employee details, including Emirati employees 
• Records of company investments and assets within the UAE 

Step 3: Choose an Approved ICV Certifying Body  

Apply with a certified body approved by the Ministry of Industry and Advanced Technology (MoIAT) that will review the financial and operational data and calculate the ICV score of the company. 

Step 4: Complete the ICV Template  

Fill out the official ICV template with the operational and financial information of the company. Make sure that all figures match the audited reports.  

Step 5:SubmitThe Application for Evaluation  

Once the template and documents are ready, submit them to the selected certifying body for assessment.  

Step 6: Receive the ICV Certificate  

After successful verification, the certifying body will issue the official ICV certificate that will help the business access better opportunities in both government and private-sector projects across the UAE.  

Documents Required for ICV Certificate Dubai 

One of the most important steps in obtaining an ICV Certificate Dubai is preparing the correct documents. These may include: 

• Ownership documents - A valid trade license, VAT certificate, POA, MOA, AOA, corporate shareholder documents, and passport and Emirates ID copies of owners, partners, managers, and authorised signatories. 

• Supplier/purchase details - Supplier-wise purchase and expense records displaying supplier name, Emirate or country location, goods or services description, taxable value, VAT amount, and supplier ICV certificates. 

• Financial records - Audited financial statements, trial balance with proper mappings and groupings, previous ICV Certificate, and supporting schedules for expenses, revenue, payroll, and investment. 

• Employee records - Payroll records, including MOL employee lists, payroll files, WPS/SIF records, salary transfer proof, Emirati employee records, pension contribution support, leave salary schedules, bonus details, and employee movement records. 

• Sustainability documents - Documents related to ISO 14001, ISO 14046, ISO 50001, Green Industry Labelling, ITTI assessment, sustainability policies, material circularity, water management, and emissions management. 

Benefits of ICV Certificate Dubai 

Obtaining ICV Certification in the UAE offers several advantages for businesses:  

• Strong Advantage in Government Tenders: The government prioritises companies with high ICV scores, especially those operating in the oil & gas, construction, transportation, and healthcare sectors.  

• Signals Commitment to the Nation’s Development: The certificate showcases the company’s positive contribution to the economic growth and diversification goals of the country, attracting potential business partners, investors, and clients. 

• Long-Term Partnerships: A strong ICV profile helps businesses build long-term partnerships and collaborations with government entities, major corporations, and other stakeholders in the UAE.  

• Improved Supply Chain Efficiency: ICV’s focus on local sourcing helps companies optimise their supply chains and potentially reduce costs.   

• Potential Financial Incentives: Companies with high ICV scores can benefit from financial incentives, such as tax breaks or grants, offered by the government. 

Let Our Tax Experts Help You Obtain Your ICV Certificate Dubai 

Thus, a strong IC profile and ICV certification in the UAE showcases a company’s commitment to supporting the local economy and opens up opportunities for government contracts. However, the application may be a bit challenging, involving complex documentation and meeting specific criteria. 

Seeking guidance from a qualified tax advisor can ensure a smooth experience. Ours is a team of knowledgeable and qualified accountants, auditors, and tax advisors who can assist you in understanding the ICV program, gathering the essential documents, and completing the application process successfully. Their assistance includes: 

• Reviewing the eligibility and readiness of the company 

• Assistance with documentation preparation 

• Accurate calculation of ICV score  

• Timely submission of application to a certifying body 

• Support with compliance and renewals 

Contact our team today and learn more about the benefits and importance of ICV certification in the UAE.