When a company seeks In-Country Value (ICV) certification in the UAE, it is essential to complete the ICV template accurately and in accordance with the program’s official guidelines. The ICV program, originally launched by ADNOC and later adopted by various government entities, aims to promote local content development, enhance domestic production, and support Emiratization initiatives.
Obtaining an ICV certificate enables businesses to strengthen their eligibility for government and semi-government contracts. However, this process must be executed precisely following the prescribed ICV format. ICV Certificates UAE serves as an authorized certifying body that can assist companies in properly completing and submitting the ICV template within the UAE.
Process of filling the ICV template in UAE
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Why ICV template necessary, and why must we fill it
The ICV template is a formal Excel form that is released by the Ministry of Industry and Advanced Technology (MoIAT). It assists in computing the In Country Value score of a given company according to the contribution that it is bringing to the UAE economy.
The reasons why the In Country Value score is obtained are:
- Local manufacturing spends
- Investment in UAE assets
- Hiring UAE nationals (emiratisation).
- Expatriate workforce costs
- Third-party expenditure on local suppliers.
- The income earned in the UAE.
Your financial reports should be audited and prepared in the IFRS (International Financial Reporting Standards) before filling the template.
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Download the Latest ICV Template
You must always use the most current version of the In Country Value format, which can be found on the IWAAT or on the webpage of your certifying authority. The old templates are rejected in verification.
The official In Country Value form and sample of ICV certificate may be requested via accredited certifying bodies that are registered in the MoIAT portal. Make sure the template version is in accordance with the financial year of your company.
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Assemble Necessary financial Data.
To fill in the ICV form, you need to gather proper data from your audited financial statements. The most important facts you will require are:
- Requirement revenues and cost of sales.
- Buys of the UAE companies.
- Imported goods and services
- Staff expenses (separated between expats and UAE nationals)
- Depreciation and investments in the UAE.
You will need your first financial year prepared on a management account or a provisional In Country Value certificate in case you are a new business/company with no audited accounts.
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Fill Each Section Carefully
The big parts of the ICV certificate template are broken down here, and these sections are filled in the following way:
- General Information
Provide the name of your company, trade license, type of business, and financial year. Indicate the certifying body (e.g., BDO, KPMG, or PwC) that will be reviewing your In Country Value data.
- Financial Data
Direct input of audited financial statements. Recheck all values to prevent inconsistencies that may postpone certification.
- Emiratization
Give the count of UAE nationals being employed, their positions, and total remuneration. An increase in Emiratization ratios increases your ICV score directly.
- Investment
Inclusion of capital expenditure in UAE assets, such as machinery, land, or technology infrastructure. Make sure that these are well reflected in your balance sheet.
- Supplier Spend
Name all the suppliers in the UAE with valid trade licenses. The better you spend locally, the more your In Country Value. In the case of imported goods, specify the country of origin.
- Third-Party Verification
Include supporting documents such as invoices, suppliers’ trade licenses, payroll summaries, and audited accounts. Their cross-verification will be done in the process of ICV certification.
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Get Your Template Verified by an Approved Certifying Body
Once your In Country Value template is filled, it must be reviewed and certified by a MoIAT-approved certifying body. These firms validate your figures, review documentation, and issue an official ICV certificate.
The certificate will display your company’s final ICV score (in percentage) and its validity period (usually 14 months).
Ensure that you only approach accredited ICV certifiers in the UAE—uncertified or self-filled templates have no official value for tenders or contracts.
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Review the ICV Certificate Sample Before Submission
Before finalizing your template, compare your file with an official In Country Value certificate sample. This helps ensure that all required fields are filled, supporting documents are attached, and formatting aligns with the official ICV form.
Common mistakes that lead to rejections include:
- Incorrect financial year mentioned
- Missing UAE supplier trade licenses
- Lack of segregation between local and imported spend
- Misclassified employee costs
A thorough review saves time and prevents resubmission.
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Submit and Maintain Your ICV Records
After certification, your In Country Value score will be registered with MoIAT and can be used for tendering across ADNOC, Aldar, Mubadala, Etihad Rail, and other government-linked entities.
Maintain digital records of your UAE ICV certificate, template, and all supporting files for future audits. If your company’s operations change (e.g., more local hires or higher local procurement), you can apply for a revised ICV score during the next cycle.
