In-Country Value (ICV) Certification

Our expert team is dedicated to assisting your business in achieving ICV certification successfully. We aim to simplify the process and provide the support you need for a smooth certification process from the certifying body.

In-Country Value (ICV) Certification in the UAE
The In-Country Value (ICV) program, launched by ADNOC in 2017, aims to promote Emiratization, diversify the GDP, and strengthen local supply chains. In 2019-2020, a Unified ICV program expanded its scope to include suppliers from various sectors across the UAE. In 2021, the Ministry of Industry and Advanced Technology (MOIAT) introduced the National ICV Program, where certified suppliers gain advantages in contract awards and procurements based on their ICV score.

ICV Certification Eligibility
Who needs an ICV Certificate?
The scope of ICV Certification is far-reaching and extends to both local and international companies. Any entity, regardless of its location within or outside the UAE, can pursue an ICV certificate in alignment with ICV guidelines. If your company operates as a supplier or contractor, holding an ICV certificate offers a significant competitive advantage during the tendering process. Tier 1 suppliers, those directly providing goods or services to Program Partners, may be mandated to declare their ICV Score as part of their tender evaluation and award procedure. Tier 2 and lower-tier suppliers may also need to furnish their ICV Certificate to ensure competitiveness in tenders alongside Tier 1 suppliers.

Key considerations in ICV Certification
Audited Financial Statements
Suppliers must submit Audited Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS). These statements should not be older than two years from the certifying year and should bear the signature of a licensed auditor.
Alternative for New Companies
Companies younger than ten months, yet to undergo a financial audit, may use their management accounts as an alternative. However, if these management accounts are more than nine months old, an audit will be mandatory.
Legal Entity Distinction
Each legal entity within a company must obtain its ICV certificate separately. However, companies with multiple branches in the same Emirate, engaged in the same activities with identical ownership, can procure a consolidated ICV certificate in the company’s name.
Split Accounting Records
Manufacturing and commercial licenses necessitate the separation of all accounting records between manufacturing and commercial activities. ICV certificates are issued separately for each license.
Validity Period
ICV certificates remain valid for 14 months from the date of audited financial statement issuance.
Data Consistency
Figures entered in the ICV certificate must align precisely with the supplier’s latest audited financial statement.