The ICV certificate is an official document issued under the UAE’s National In-Country Value (ICV) Program by the Ministry of Industry and Advanced Technology (MoIAT). It certifies a company’s contribution to the UAE economy through local spending, Emiratization, investment, and innovation, and is essential for competing effectively in government and ADNOC tenders.
What is the ICV Certificate in the UAE?
The ICV certificate measures how much of a company’s value is retained within the UAE, including spending on local suppliers, Emirati employment, capital investment, exports, and technology adoption.
The ICV Program was first introduced by ADNOC in 2018 and expanded nationwide in 2021 by MoIAT. It applies across all Emirates, including Dubai and Abu Dhabi, under a unified framework, granting tender advantages and enhancing business credibility.
Objectives of the National ICV Program
According to the official UAE Government portal, the program’s objectives include:
- Strategic localization of supply chains
- Development of local industries and services
- Attracting foreign investment
- Economic diversification
- Creating private-sector jobs for UAE nationals
- Boosting national GDP
- Increasing R&D and advanced technology spending
- Raising the private sector’s GDP contribution
These objectives ensure that government and semi-government spending generates strong domestic value.
Stakeholders in the ICV Program
The ICV framework involves key stakeholders:
1. MoIAT‑approved certifying bodies: Independent audit firms authorized to conduct technical reviews and issue ICV certificates.
2. ICV‑certified companies: Entities assessed and certified, utilising certification in procurement and tender submissions.
Official guidelines for certification, available via the MoIAT supplier guidelines PDF, outline all the program criteria and procedures.
Why Businesses Need an ICV Certificate
Although not legally mandated, an ICV certificate is strategically essential for many businesses:
- Tender advantage: Companies with higher ICV scores are prioritized; uncertified bids receive a default score of zero.
- Enhanced credibility: Alignment with national goals builds trust with clients and partners.
- Access to contracts: Required for awarding contracts by ADNOC, federal ministries, and local authorities.
- Operational improvement: Promotes local sourcing, Emiratization, and reinvestment—driving long-term sustainability.
- Contribution to national initiatives: Supports major programs like Operation 300bn and Make it in the Emirates.
Who Should Obtain the ICV Certificate?
ICV certification is essential for:
- ADNOC suppliers and contractors
- Companies bidding for government or semi-government tenders
- Subcontractors to larger firms in government projects
Private-sector firms without government exposure may still benefit from the certificate for credibility and partnership potential.
Eligibility for ICV Certification
Requirements include:
- A valid UAE trade license
- Physical presence in the UAE
- Audited financial statements (IFRS‑compliant, less than 2 years old)
- Application through a MoIAT‑authorized certifying body
Additional rules:
- Companies younger than 10 months may use up to 9 months of management accounts.
- Multiple branches under the same license and ownership can share a certificate.
- Each trade license is a separate legal entity.
- Companies producing goods need an “industrial license” to be certified as manufacturers; others are service providers.
- Certifying bodies cannot be changed within the same year without valid justification.
Documents Required for ICV Certification
Required documentation:
- Trade license
- Latest audited financial statements
- Workforce data showing Emiratis and their compensation
- Procurement details (UAE vs foreign suppliers)
- Fixed assets register in UAE
- Revenue split (local vs exports)
- Subcontracting/outsource records
- Management accounts (for new companies)
Advance preparation ensures smoother audits and faster certification.
How to Apply for an ICV Certificate
The process includes:
1. Selecting a certifier from the MoIAT-authorized list.
2. Preparing financials and compliance documents.
3. Completing the official ICV template (with guidance in MoIAT guidelines).
4. Submitting documents for evaluation.
5. Undergoing audit and verification.
6. Receiving the ICV certificate and percentage score.
Typical timeframe: 2–4 weeks, depending on company complexity.
How the ICV Score is Calculated
Scoring is percentage-based, reflecting in-country value through:
- Local procurement
- Emiratization costs
- Owner salary (WPS, capped at AED 200k/month, excluding bonuses)
- Local investments
- Export revenues
- Mainland supplier credit (10% for trading, 50% for industrial licenses)
- Payments to authorities (100% credit)
- Lease/rental directly with landlord (80% credit)
- Utility payments (80% credit if in company’s name)
- Employee headcount
- Internal expenses excluded, except depreciation
Service providers and manufacturers follow different formula structures, as detailed in MoIAT’s ICV formula page.
Certificate Validity and Renewal
- Certificates are valid for 14 months from the date of the audited financials.
- Recertification during validity using the same financials does not reset this period.
- Renewal requires updated financials and a new submission.
Continued compliance maintains certification and competitiveness.
Key Considerations for Success
- Maintain IFRS-compliant financials.
- Initiate certification well before tenders, an expired certificate means a score of zero.
- Strategy improvements (e.g., sourcing, Emiratization) boost future scores.
- Sector-specific criteria may supplement general guidelines.
Why Partner with TaxReady for ICV Certification?
At TaxReady.ae, our FTA-certified team supports businesses in Dubai, Abu Dhabi, and across the UAE in securing high-value ICV certification. With over 7,000 SME clients in corporate tax, VAT, and accounting, we streamline preparation, audit readiness, and tender success.
Explore our services:
Contact TaxReady today to begin your ICV certification journey and unlock new business opportunities.
Frequently Asked Questions
How long does the ICV certification process take?
The process usually takes two to four weeks, depending on company size and how quickly supporting documents are provided. Large or complex organizations may take longer if additional verification is needed.
Can companies with multiple licenses consolidate their ICV?
Yes, but only branches under the same license and ownership in the same Emirate can be consolidated. Separate legal entities in different Emirates must obtain individual certificates.
What happens if a certificate expires during a tender?
If a tender closes while your ICV certificate is expired, your score will be treated as zero, even if you previously held certification. Keeping certificates valid is critical to remain competitive.
Is recertification possible before the 14 months ends?
Yes, companies can recertify within the 14-month period using the same financial statements, but the expiry date remains fixed and does not reset.
Are there penalties for incorrect or misleading ICV submissions?
Yes. If discrepancies are found between submitted data and audited financials, certifying bodies can reject the application. In severe cases, MoIAT may disqualify companies from participating in government tenders until compliance is restored.
