How to get an ICV certificate in the UAE?
So you're doing business in the UAE, and you've heard about this ICV certificate UAE or In-Country Value certificate UAE. Yeah, it's a big deal - especially if you want to work with the government or big local companies. But what in the world is it? And how do you even get one? Don't worry, we've got you covered.
In this guide, we'll break it all down in a way that's super easy to understand:
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What is the ICV certificate in the UAE exactly
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Why you really need it for your business
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The whole UAE ICV certification process from start to finish
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What documents and steps do you need to take
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How they calculate the ICV score in the UAE (it's actually pretty cool)
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The benefits of having this thing (spoiler alert: it's big)
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How Flyingcolour Tax Consultant can help you out
Ready to get started?
What's an ICV Certificate in UAE?
An ICV certificate UAE is basically an official document that shows how much your business is contributing to the local economy in the UAE. They check to see how much you’re buying from local suppliers, how many local folks you’re hiring, how much you’re investing in the area, and all that jazz.
It’s all part of the National In-Country Value (ICV) Program, which is run by the Ministry of Industry and Advanced Technology to try and boost the UAE’s economy and help local industries grow. The ICV certificate is a key component of a broader UAE government initiative known as the country value program, with the national ICV program aiming to increase local economic involvement, support national strategic goals, and drive economic diversification through local procurement, investment attraction, and job creation.
The ICV certificate in the UAE is like a badge that shows you're helping out the local economy by spending money here, hiring local workers, and all that good stuff.
Why Does the ICV Certificate Matter?
The ICV certificate isn’t just some piece of paper hanging on your wall. It actually helps you out in several big ways:
Government entities and major national companies are among the key entities implementing the National In-Country Value (ICV) program. Leading national companies and strategic partners play a crucial role in driving ICV achievement by supporting local procurement, investment, and employment. Private sector companies benefit from ICV certification, as private sector participation in the program enables them to bid on government projects and secure contracts. This, in turn, enhances the private sector's contribution to the national GDP by fostering local industry development, attracting investments, and creating jobs.
1. Competitive Edge
Lots of government and semi-government contracts require an ICV certificate when you're bidding. If you've got a higher score, you're more likely to win the deal.
2. Local Economic Love
Getting the certificate shows that your business is supporting the local economy, which is a big part of what the UAE wants to see happen.
3. More Bigger Projects
Companies that work with ADNOC, Etihad Rail, and other big entities usually need an ICV certificate to even apply.
4. Better Reputation
Having an ICV certificate makes you look good to clients, partners, and investors.
It's not required for all businesses (yet), but it's super useful if you want to grow in the UAE market.
Who Should Get an ICV Certificate?
The ICV certificate for foreign companies in UAE is open to any UAE-based company or foreign business that’s doing business here. If you’re a supplier, service provider, or manufacturer, you’re eligible if you meet the requirements.
Most businesses that benefit from ICV certification are:
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Companies bidding on government or semi-government contracts
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Suppliers to national entities like ADNOC
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Businesses trying to make a bigger splash in the UAE market
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Foreign companies looking to get ahead in the country
Registered suppliers, ICV-certified companies, and private sector companies certified under the program gain access to more opportunities and play a key role in supporting local procurement and economic growth. These certified entities contribute to increased local investment, employment, and the overall development of the UAE economy.
ICV Program UAE Requirements
To get the In-Country Value certificate UAE, your company’s got to meet some requirements.
Here’s what you’ll need:
After preparing the required documents, an authorised certifying body will conduct the ICV assessment to evaluate your company’s compliance with the National In-Country Value (national ICV) program. This process includes a detailed review of your documentation, site visits, and calculation of your ICV score. The authorised certifying body is responsible for issuing the national ICV certification, which is awarded based on a thorough assessment of your company’s adherence to the program’s requirements. Achieving the national ICV certification demonstrates your business’s contribution to local economic development and enhances your eligibility for government contracts.
Checklist Time
✔ Valid UAE Trade License
✔ You've got a presence in the UAE (either a physical office or operating base)
✔ Audited financial statements (not older than 2 years - IFRS style)
✔ Records of purchases from local suppliers
✔ Your workforce breakdown (local vs expat)
✔ Proof of local investments and spending
If you're less than 10 months old and don't have audited statements yet, you can use up to 9 months of management accounts for the application.
Note: Each legal entity (trade license) needs its own ICV certificate. Branches with the same activity and ownership might be able to share a certificate in some cases.
How Do They Calculate the ICV Score in the UAE?
The ICV score calculation in the UAE shows how much value your business is adding to the local economy. The score is a percentage, and the higher the better.
Here’s a quick rundown of how it works:
ICV calculations are based on audited financial data, including salaries, costs, and other relevant financial information. Companies can use the same audited financial statements for ICV certificate renewal within the certificate’s validity period, but the original 14-month validity from the initial issuance still applies. If a business has multiple branches in the same Emirate with identical business activities and ownership, they may be eligible for a combined ICV certificate to simplify the evaluation process. However, if branches are located in different Emirates, have different activities, or are considered separate legal entities, each must obtain a separate ICV certificate.
Scoring Factors
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Local Procurement - How much you're spending with UAE-based suppliers
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Emiratization - The cost of hiring Emirati citizens
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Expat Contribution - A percentage of costs related to expat employees
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Local Investments - Investments in UAE assets and operations
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Bonus Factors - Exports, sustainability achievements and all that
A simplified formula for service providers is:
ICV Score = (Local Procurement × Supplier ICV + Emirati Costs + 60% of Expat Costs) ÷ Total Expenditure.
The actual calculation will depend on your business type (service provider or manufacturer) all using audited financial data and local costs that are up to date.
The Importance of Financial Statements for ICV Certification
When it comes to getting your ICV certificate in the UAE, your audited financial statements are more than just paperwork—they’re the backbone of your entire ICV certification process. The National In-Country Value (ICV) program relies heavily on these documents to calculate your ICV score, which measures how much your business is boosting the local economy through local procurement, investments, and hiring UAE nationals.
Here’s why your financial statements matter so much: To even apply for ICV certification, you need to submit audited financial statements prepared according to International Financial Reporting Standards (IFRS). These statements must be up-to-date—no older than two years from your certification year. If your company is brand new (less than 10 months old), you can use management accounts for up to 9 months, but anything older than that must be audited.
Why all the fuss? Because the ICV certifying bodies, authorized by the UAE government, use these financial statements to verify your local spending, investments, and employment figures. The more accurate and transparent your numbers, the better your ICV score—and the better your chances of winning those all-important government contracts and tenders.
A strong ICV score doesn’t just help you stand out in the private sector; it also shows your commitment to supporting local industries, creating valuable job opportunities for Emirati employees, and driving investment growth in the UAE economy. The Department of Economic Development and other government agencies oversee the process to make sure everything is above board and in line with the country value ICV program’s guidelines.
In short, if you want to maximise your ICV score and unlock new business opportunities, make sure your financial statements are accurate, transparent, and fully compliant with IFRS. Not only will this help you obtain your ICV certificate, but it will also position your company as a key player in the UAE’s vision for a diversified, sustainable, and thriving national economy. By prioritising your financial reporting, you’re not just ticking a box—you’re actively contributing to the growth of local industries, attracting foreign investments, and supporting the UAE’s ambitious economic goals.
ICV Certificate Application Guide UAE - A Step-by-Step Process
Alright, lets now go through the UAE ICV certification process you need to follow to get the certificate.
Step 1: Register on the MoIAT ICV Portal
To start with, you need to create your business profile and complete your registration online. This is the first step in the ICV certificate application guide UAE.
Step 2: Choose an Approved Certifying Body
The MoIAT have approved certain companies to assess and issue ICV certificates, so choose one that is going to evaluate your application and score.
Step 3: Get Your Documentation in Order
You are going to need to submit:
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Your audited financial statements
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Your purchase and procurement records
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Employee data
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Investment information
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Payroll details
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Any other supporting documents related to local spending that you have
Step 4: Fill Out the Official ICV Scorecard
Make sure you fill out the official ICV form properly and attach all of your documents.
Step 5: Submit it for Review
Your certifying body reviews all of your information and calculates your ICV score.
Step 6: Get Your Certificate
If you meet all of the criteria, your ICV certificate UAE will be issued, which is usually valid for 14 months from the date of your audited financial statements.
The whole process can take 14 to 28 working days from start to finish, depending on how you go about preparing.
ICV Certification for Foreign Companies in the UAE - Is It Possible?
Yes, foreign companies can still get the ICV certificate for foreign companies in the UAE as long as they are operating in the UAE, have audited financial statements that are up to date, and meet the requirements.
Foreign entities often increase their local contribution by:
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Hiring UAE nationals
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Working in partnership with local suppliers
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Investing in UAE assets
These efforts do improve the ICV eligibility in Dubai real estate and business value locally.
By participating in the country value program ICV, foreign companies contribute to the growth of the UAE's industrial sector and help establish new local industries. This supports the UAE's economic diversification goals by fostering innovation, attracting foreign investment, and empowering Emirati entrepreneurs within the framework of national industrial growth and localisation initiatives.
Validity & Renewal of ICV Certificate - How Long Does It Last?
Your ICV certificate in the UAE is usually valid for 14 months from the date you received your audited financial statements.
You can renew it every year by submitting updated documents and financial information.
Benefits of ICV Certificate for Businesses in UAE - Why Do You Need It?
Having an ICV certificate comes with many benefits:
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Access to government tenders and contracts
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Improved competitiveness in the UAE market
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Enhanced reputation and credibility with local partners
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Opportunities for business growth and expansion
The program's growth builds on increased local spending, investment, and employment, further enhancing the benefits for certified companies and contributing to the UAE's economic development.
✔ You Get a Competitive Edge in Tenders
Many government and semi-government contracts will consider your ICV score when they are evaluating you, which gives a higher score to companies that have an ICV certificate.
✔ It Shows Your Contribution to the Local Economy
Your company can show that it supports local suppliers and contractors, as well as hiring UAE nationals and investing in the UAE.
✔ It Opens Up Better Business Opportunities
Companies with ICV certification are more attractive to partners and clients.
✔ It Helps Support Local Employment
Hiring UAE citizens improves your score and supports national goals.
✔ It Incentivises Local Procurement
ICV encourages you to work with local businesses, which strengthens your supply chains.
Why Do Businesses Need Expert Help?
Getting an ICV certificate UAE can be a complex process. Flyingcolour Tax Consultant offers expert guidance and support throughout the process.
What Help Do They Offer?
✔ They will review your eligibility and readiness
✔ They will assist with documentation preparation
✔ They will help you calculate your ICV score correctly
✔ They will submit your application to a certifying body
✔ They will support you with compliance and renewals
They will make sure that your ICV certification process in the UAE is smooth, accurate, and error-free.
Conclusion
The ICV certificate in the UAE is a very valuable document for any company operating in the UAE. It shows your contribution to the local economy and gives you a competitive edge in tenders and partnerships. Whether you are a UAE national business or a foreign company, understanding the ICV certification process, UAE requirements and preparing properly will make the process easier and faster. And with expert help from Flyingcolour Tax Consultant, the path becomes even easier.
Frequently Asked Questions (FAQs)
1. What Is an ICV Certificate?
An ICV certificate is an official document that measures your company's contribution to the local UAE economy.
2. Who Needs an ICV Certificate?
Companies that want to bid on government or semi-government tenders often need an ICV certificate. But any company can apply to gain competitive advantages.
3. How Is the UAE ICV Certification Score Calculated?
The score is based on local procurement, employment of UAE nationals, the contribution of expatriates and investments.
4. Is the ICV Certificate Mandatory?
It is not legally mandatory for all companies, but it is a very useful tool for tenders and business opportunities.
5. How Long Is an ICV Certificate Valid?
The ICV certificate is usually valid for 14 months from the date you received your audited financial statements.
To learn more about What is an ICV Certificate in UAE, and How to Get It?, book a free consultation with one of the Flyingcolour team advisors.
Disclaimer: The information provided in this blog is based on our understanding of current tax laws and regulations. It is intended for general informational purposes only and does not constitute professional tax advice, consultation, or representation. The author and publisher are not responsible for any errors or omissions, or for any actions taken based on the information contained in this blog.