ICV Certification Service

The In-Country Value (ICV) Programme represents an initiative originally developed by Abu Dhabi National Oil Company (ADNOC) and subsequently adopted by numerous UAE government entities, including MoIAT, to promote economic diversification, local business development, and Emirati workforce advancement.

The ICV certificate constitutes an official document reflecting your company's contribution to the UAE economy. It evaluates various elements including:

• Goods and services procured from local sources
• Emiratisation levels and UAE national employment
• Capital investments within the UAE
• Revenue generated domestically
• Training and development programmes for UAE nationals

The higher your ICV score, the greater your enterprise's prospects of securing tenders from ICV-compliant entities.

You are obligated or strongly encouraged to obtain an ICV certificate if your enterprise:

• Furnishes goods or services to ADNOC, Mubadala, Etisalat, Aldar, Abu Dhabi Ports, or any government-affiliated organisation
• Intends to participate in public sector tenders or procurement contracts
• Seeks to expand its presence and establish credibility with local and semi-government purchasers
• Operates within industrial, construction, trading, logistics, or service sectors where government partnerships prove critical
• Wishes to demonstrate alignment with UAE Centennial 2071 and Vision 2030 by promoting local value creation

Here's why obtaining an ICV certificate in the UAE proves essential for your enterprise:

1. 1Secure Additional Contracts

ICV-certified enterprises receive priority during government and semi-government procurement processes, significantly enhancing tender success rates.

1. 2Enhance Business Credibility

A high ICV score demonstrates your commitment to UAE development objectives, cultivating trust amongst clients, stakeholders, and potential partners.

1. 3Maintain Regulatory Compliance

With the ICV programme becoming mandatory across numerous sectors, certification ensures your enterprise remains fully compliant with current regulations.

1. 4Foster Local Investment

By improving your ICV score, you actively contribute to employment generation, skill development, and economic growth within the UAE.

1. 5Support UAE Economic Vision

Align your business strategy with national objectives including Emiratisation, local sourcing, industrial diversification, and sustainable development.

1. 6Access Government Opportunities

Many government tenders now require minimum ICV scores, making certification essential for accessing lucrative public sector contracts.

Your ICV score is calculated based on your contribution to the UAE economy, determined through the following metrics:

The value of goods and services sourced from local UAE suppliers, including materials, equipment, and professional services.

Capital expenditure, net book value of assets, and long-term investments within UAE territory.

Number of UAE nationals employed, their compensation levels, and positions held within the organisation.

Wages and benefits disbursed to non-UAE national employees contributing to local economic activity.

Total sales and income generated from operations within the country.

Investments in skills development, professional training, and capacity building for UAE nationals.

ICV scores typically fall within the following categories:

• 0-20%: Limited local contribution
• 21-40%: Moderate local contribution
• 41-60%: Good local contribution
• 61-80%: Strong local contribution
• 81-100%: Exceptional local contribution

Entities with higher ICV scores enjoy preferential treatment in tender evaluations and procurement decisions.

The ICV certification process must be executed in a structured manner and remains valid for one financial year. Here's a comprehensive step-by-step breakdown:

1. 1

   Prepare Audited Financial Statements

• Financial statements must not be older than 2 years
• Must comply with International Financial Reporting Standards (IFRS)
• Prepared by a UAE-registered audit firm
• Include complete balance sheet, income statement, and cash flow statement

1. 1

   Complete the ICV Template

• Input business, financial, and operational data as per MoIAT's prescribed template
• Include employee details, local procurement values, and investment information
• Ensure all figures reconcile with audited financial statements
• Attach supporting documentation for all claimed values

1. 1

   Submit for Verification

• Submit the completed template to an MoIAT-approved ICV Certifying Body
• The certifying body reviews all documentation and verifies claims
• Additional information may be requested during the verification process

1. 1

   ICV Certificate Issuance

• Upon successful verification, you receive your official ICV certificate
• The certificate displays your calculated ICV score
• Certificate validity extends for one financial year

1. 1

   Annual Renewal

• ICV certificates must be renewed annually
• Renewal requires updated audited financials and fresh ICV template submission
• Plan renewal approximately 2-3 months before expiry

At MUT Accounting and Bookkeeping, we render the entire ICV certification process seamless, accurate, and fully compliant with MoIAT guidelines. Here's how we assist:

Our specialists examine your financial statements to ensure IFRS compliance and identify opportunities to maximise your ICV score.

We meticulously populate the ICV template with accurate data, ensuring all calculations are correct and properly documented.

Our consultants provide strategic advice on improving your ICV score through legitimate means, such as increasing local procurement or Emiratisation.

We manage all communications with MoIAT-approved certifying bodies, responding to queries and facilitating smooth verification.

Our team ensures timely renewal of your ICV certificate, preventing lapses that could affect tender eligibility.

We provide ongoing guidance on maintaining and improving your ICV score throughout the certification period.

To successfully obtain ICV certification, enterprises must provide:

• Valid UAE trade licence
• Audited financial statements (not older than 2 years)
• Completed ICV template with supporting documentation
• Employee records including Emiratisation data
• Local procurement invoices and contracts
• Investment and asset documentation
• Bank statements verifying UAE transactions

The Ministry of Industry and Advanced Technology has approved specific entities to verify and issue ICV certificates. MUT Accounting and Bookkeeping coordinates with these approved bodies to ensure your certification proceeds efficiently.

ICV certification proves particularly valuable for enterprises operating in:

• Oil and Gas sector
• Construction and Infrastructure
• Manufacturing and Industrial
• Trading and Distribution
• Professional Services
• Technology and IT Services
• Healthcare and Pharmaceuticals
• Transportation and Logistics
• Hospitality and Tourism
• Financial Services

Beyond ICV certification, MUT Accounting and Bookkeeping provides a comprehensive range of professional services throughout the UAE:

• VAT Registration and Filing
• Corporate Tax Registration and Advisory
• Excise Tax Services
• External and Internal Audit Services
• Ultimate Beneficial Owner (UBO) Compliance
• Transfer Pricing Documentation
• Tax Residency Certificates
• Payroll Management Services
• Economic Substance Regulation (ESR) Compliance
• AML Registration and Compliance
• Bookkeeping and Accounting Services