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ICV Certificate In UAE

National In-Country Value (ICV) Certification is no exception to our premiere certification services.
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ICV Certification in Abu Dhabi

In the UAE, an In-Country Value (ICV) Certificate is essential for government and ADNOC tender submissions. The In-Country Value (ICV) Program’s primary goal is to diversify the UAE economy by localizing more goods and services, expanding employment opportunities for UAE citizens in the private sector, and localizing key functions in various industries. Under the direction of the Ministry of Industry and Advanced Technology (MoIAT) 2021, the Program was subsequently implemented at the national level.

What does the In-Country Value (ICV) Certificate Program offer?

Under the National In-Country Value (ICV) Program, certifying bodies in the UAE offer issuance of ICV Certificates. Further, the program extensively enhances the ICV Score of companies through workforce Emiratization, growth and local investment. Audit firms in the UAE highly ensure that companies are geared up to submit pre-audited financial statements, as an essential requisite to obtaining the National In-Country Value (ICV) certification. Under the ICV program, Audit firms in the UAE essentially safeguards that companies are fully compliant to the set ICV regulations and standards.

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How to Apply for ICV Certificate in Dubai, Abu Dhabi UAE?

  • Before applying for an ICV certificate in UAE, suppliers must be aware of the necessary conditions. Suppliers may help ICV certification service providers in Dubai to get their ICV certificates. The essential prerequisites are as follows:
  • The suppliers should get the ICV certificate for each of their many legal entities if they need to be certified. Even if the Firm’s owner is the same, the government views each license as a distinct legal entity.
  • The MoIAT will issue a combined ICV certificate for the Firm in that Emirate if a company has many branches in the same Emirate that carry out comparable operations and are owned by the same entity.
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How to Get an ICV Certificate in UAE

To get an ICV certificate in the UAE, the MoIAT has created a simplified process. The top ICV certification service providers in Dubai can advise Suppliers on the procedure. To receive the ICV certificate, the basic procedures listed below must be followed:

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Frequently Asked Questions

Q1. Who is responsible for issuing ICV Certificates?

To obtain an ICV Certificate in the UAE, certifying bodies issue the ICV certificate.

Q2. Who needs ICV certification?

Under ICV rules, any organization, whether it is located within the UAE or outside can obtain an ICV Certificate. Since the ICV Score is a crucial component for contract review and award process, Tier 1 suppliers, i.e. the suppliers that directly provide products or services to the Program Partners, may be compelled to disclose it as part of the National ICV Program. To guarantee that they are competitive in their tender with Tier 1 suppliers, Tier 2 and below providers may also be asked to present their ICV Certificates.

Q3. What does the ICV Score signify?

The Company’s value addition to the UAE economy is reflected in the ICV Score. The following factors are taken into account in order to reach the Score, which is expressed as a percentage:

  • Manufactured goods for commercially regulated suppliers.
  • Procurement of products and services from third parties
  • Growth and local investment
  • Workforce Emiratization
  • Contribution of expatriates
  • Revenue generation outside of the UAE.

Q4. How often are suppliers asked to renew their ICV Certificates?

Each ICV certificate is valid for 14 months, commencing from the day the audited financial statements were issued, the date on which the financial statements were signed, or on the earlier issuing of new financial statements.

Q5. Does submitting a bid for a tender require meeting a standard or threshold?

No minimum rating or benchmark is necessary to submit a tender bid for a tender. Based entirely on the audited financial records of the Company, the Score is determined and will change depending on the various qualities.
The ICV score will be 0 if a corporation participates in a tender without having an ICV certificate.

Q6. What makes the Unified Certification Process and the implementation programs differ?

ICV Implementation and ICV Certification are the two components that make up the In-Country Value program.

  • The ICV certification component is standardized and coordinated across all ICV participating organizations and is overseen by the Ministry of Technology and Advanced Technology (MoIAT). All of the involved organizations consider the unified ICV certificate. A single ICV certificate per legal entity, to be utilized by all participating companies, is thus all that Suppliers must provide.
  • At each entity level, a different ICV implementation will be used. It illustrates how each participating organization will apply the certificate to its operations. As a result, each participating organization will evaluate the ICV certificate in line with its policy.

To get an ICV certification, all suppliers are highly urged to undergo the ICV examination and certification procedure.

How may Farahat & Co. assist you?

Professional guidance is highly essential to efficiently complete the complex process of obtaining an ICV certification in the UAE. Apart from submitting the audited financial statements and completing the MoIAT-required supplier submission form, suppliers must also adhere to several other standards. We are a top-notch ICV certification service provider in the UAE, we efficiently assist suppliers to maintain full compliance to the set ICV laws and regulations. Further, we have an expert team of auditors and accountants that can effectively execute the Template Filing criteria. Creation of audited financial accounts in compliance to International Financial Reporting Standards and offering expert ICV advice to organizations is no exception to the list of premiere services offered by Farahat & Co. Contact us today and we shall be happy to assist you!

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