Conditions for obtaining an ICV certificate in the UAE
The ICV (In-Country Value Certification) program was launched by the Ministry of Industry and Advanced Technology (MoIAT) in 2021. The ... Read more
ICV Certificate In UAE
National In-Country Value (ICV) Certification is no exception to our premiere certification services.
We offer trusted and approved ICV Certification services in UAE.
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ICV Certification in Abu Dhabi
The ICV Program, launched under the UAE’s “Projects of the 50,” is a government initiative to benefit the local economy by encouraging government entities and major national companies to buy from UAE-based suppliers, manufacturers, and service providers. The program measures how much companies invest in local products/services and the industry.
It’s a key part of the UAE’s plan to build a strong, self-sufficient economy by attracting talent and investors, supporting Emirati entrepreneurs, and creating high-quality partnerships.
As an authorized certifying body in the UAE, Farahat & Co. helps businesses obtain their ICV Certificate quickly and in full compliance with the Ministry of Industry and Advanced Technology (MoIAT) and ADNOC guidelines. Our experts ensure the accurate preparation of all documentation, smooth coordination with the approved certifying bodies, and provide transparent reporting, thereby enabling your best ICV score.
What is an ICV Certificate UAE?
The In-Country Value (ICV) Certificate is an official document showing how much your firm contributes to the economy of the UAE. It is part of the National ICV Program, launched by MoIAT, to support local industry, job creation, and economic diversification.
The ICV Certificate is issued to suppliers by authorized Certifying Bodies, evaluating their contribution to the UAE economy. Certified suppliers are then able to submit the ICV Certificate to any of the Participating Entities in the program.
The ICV score is stated on the system-generated ICV Certificate and reflects the total amounts spent on local products and services, investments, and the hiring and development of Emiratis, as per MoIAT’s approved formula.
Factors on which your company’s ICV score is calculated are as follows:
- Local expenditure: the amount you spend on goods and services from suppliers based in the UAE.
- Emiratization: the number of UAE nationals you employ and train.
- Investments: your capital investments in the UAE, such as buildings, machinery, and infrastructure.
- Exports and innovation: your contribution to technology, research, and exports that support UAE economic growth.
This score is used by government and semi-government entities to evaluate bids. A higher score increases the chances of winning contracts. Without an ICV Certificate, companies default to a score of zero and are therefore less competitive.
How to Get an ICV Certificate in UAE?
The certification of ICV is based on audited financial statements as on date and other relevant data verified by the authorized certifying body.
Stepwise procedure:
- Get audited financial statements prepared—your financial statements must be in accordance with IFRS and should be not more than 2 years old.
- Collect requisite documents—trade license, ownership details, Emiratization data, and procurement breakdowns.
- Calculate your ICV score—on the basis of your spending, local procurements, and Emiratization.
- Submission to approved certifying body—ICV certificates are issued only by MOIAT-approved bodies.
- Receiving the certificate—on review and approval, the ICV Certificate will be issued to the company, which is valid for 14 months.
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Why is ICV Certification Important for Businesses?
The advantages of obtaining an ICV Certificate include:
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- Eligibility for government and semi-government tenders: Entities like ADNOC, Aldar, Etisalat, and others require the certificate for tender participation.
- Increased supplier ranking: a higher ICV score improves your company’s standing in the procurement process.
- Business credibility: shows the company’s contribution towards the UAE economy and compliance with national industrial objectives.
- Competitive advantage: federal entities and local entities prefer certified companies.
Who Needs an ICV Certificate in the UAE?
An ICV Certificate is required for working with government or semi-government companies in the UAE. Though it may not be a requirement by law, to be competitive in the tender process, having this certificate is extremely important. Companies without it receive a zero ICV score, which can disqualify them from bidding.
- Government Contractors: Bidding for any tender, whether federal or emirate level, requires an ICV Certificate. The government assesses suppliers based on an ICV score, which is necessarily derived from their contribution to the UAE economy.
- ADNOC Suppliers: A valid ICV Certificate is a requirement for all vendors and contractors dealing with ADNOC or any of its subsidiaries. It is a compulsory part of ADNOC’s procurement process.
- Semi-Government Vendors: Businesses selling to utilities and other infrastructure, transport, and energy sectors—mostly in Abu Dhabi—are required to present an ICV Certificate to qualify for contracts with semi-government organizations such as TAQA, Emirates Steel, and Etisalat.
- Subcontractors: Even if you are not bidding directly, a government contractor requiring subcontracting work may still request ICV Certification. This means your score is included under the main contractor’s score for overall ICV evaluation.
- Foreign and Private Companies: Foreign-owned and private UAE companies that want to work on public projects or partner with national firms are strongly encouraged to obtain ICV Certification, enhancing their credibility and improving chances of collaboration.
Our ICV Certification Services
Farahat & Co. provides complete assistance for ICV certification. Our services include:
1. Financial Statement Review:
We review your audited financial statements to determine their conformity with MoIAT’s format and standards. These statements are prepared under IFRS and carry the signature of either a UAE-licensed or a Ministry-approved auditor and should not be older than 2 years from the year of certification.
2 . ICV Template Preparation:
We fill out the official ICV template in all its details with information about local purchases, salaries, capital assets, and other relevant metrics for your company. The utmost care must be exercised—as a mistake may cause delay or rejection of your application.
3.MoIAT-Authorized Certifying Body:
The ICV certificates are issued only by the firms approved by the MoIAT. Farahat & Co. is a professional service firm who is an authorized certifying body for verifying and issuing the ICV Certificate to suppliers based on the Ministry of Industry and Advanced Technology (MoIAT) criteria.
4. Strategic Advisory:
Strategically, we provide an understanding of your current ICV score and practical techniques for improving the score, like employing UAE nationals, sourcing products locally, or investing in UAE infrastructure.
How Can We Assist You in Getting Certified?
Farahat & Co. is here to help you simplify the entire ICV certification process. We ensure accurate and timely compilation of documentation and submission.
Our services include:
- Pre-assessment of your ICV readiness
- Assistance with preparing audited financials as per IFRS
- Accurate calculation of your ICV score
- Coordination with approved ICV certifying authorities
- Support for ICV renewal and re-certification
With years of experience in audit, accounting, and compliance services in the UAE, we help clients maximize their ICV score while being fully compliant with MoIAT requirements.
Documents Required for ICV Certification
To apply for the ICV Certificate in UAE, you will need:
- Valid trade license
- Audited financial statements (not older than 2 years)
- Ownership and entity structure details
- Employee details (including Emiratisation data)
- Breakdown of procurement and suppliers
- Investment details (if applicable)
We provide a thorough review of all documents before submission to ensure compliance and avoid rejection or delay.
Validity and Renewal of the ICV Certificate
The ICV Certificate shall be valid for a period of 14 months from the date of issuance of the Audited Financial Statements. Therefore, companies are advised to renew their certificates annually to remain eligible for tenders and for listing in the suppliers’ listings.
At Farahat & Co., our consultants continue to provide support to ensure your certification is updated and compliant with all regulatory updates from MoIAT and ADNOC.
Frequently Asked Questions
Q1. Who is issuing ICV certificates in the UAE?
The ICV Certificate is issued to suppliers by authorized Certifying Bodies, evaluating their contribution to the UAE economy. Certified suppliers are then able to submit the ICV Certificate to any of the Participating Entities in the program.
Q2. How long will it take to get ICV certification?
This process usually takes about 5 to 10 working days, depending on how accurate your documents and financials are.
Q3. Is the ICV Certificate compulsory?
It’s mandatory for companies bidding on tenders from ADNOC and other ICV-participating entities. Optional for others not seeking government contracts.
Q4. Are companies in Free Zones allowed to apply for ICV certifications?
Yes, free zone entities can also obtain ICV Certificates if they supply to participating entities under the program.
Q5. What if my financial documents are old?
The Audited Financial Statements must not be older than 2 years from the certification year. You will have to make your audit current before applying.
Q6. What does a good ICV score mean?
There’s no set standard, but your chances and preference tend to increase in the tender evaluation process with a higher score.
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