How to Get an ICV Certificate in UAE? Step-by-Step Guide for a Better ICV Score
Are you a business operating in the UAE and looking to improve your chances of winning government contracts? Then securing an In-Country Value (ICV) Certificate is essential. This guide explains everything you need to know about obtaining an ICV Certificate in the UAE, and how to boost your ICV score for better business opportunities.
What is an ICV Certificate?
The ICV Certificate is part of the UAE government’s ICV Program initiated by ADNOC. It aims to boost the UAE economy by encouraging local procurement, Emiratization, and investment within the country. Companies with a higher ICV score are given preference in government and semi-government contracts.
Why is ICV Important for Your Business?
Holding an ICV Certificate Dubai enhances your eligibility when bidding for contracts with ADNOC and other government entities. It also positions your business as a locally supportive and compliant entity. A strong ICV score can lead to:
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Increased contract awards
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Long-term partnerships
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Better reputation in the UAE market
Step-by-Step Process to Get an ICV Certificate in UAE
1. Prepare Your Audited Financial Statements
Make sure your company has audited financial statements for the most recent fiscal year. These statements must not be older than two years.
2. Select an Approved Certifying Body
Choose a certifying body authorized by ADNOC. These bodies evaluate your documents and calculate your ICV score.
3. Complete the ICV Template
Download and fill in the ICV template provided by the certifying body. It includes details like local spending, Emirati employee wages, and investment in the UAE.
4. Submit Required Documents
Along with the filled template, submit your audited financials, trade license, and other business details for review.
5. Receive Your ICV Certificate
After a successful review, the certifying body will issue your ICV Certificate with a calculated score.
Tips to Improve Your ICV Score
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Increase local purchases and vendor engagement within the UAE.
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Hire and retain UAE nationals.
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Invest in training, assets, and local expansion.
Renewing Your ICV Certificate
Your ICV Certificate is valid for 14 months from the issue date or until a new financial statement is available. Renew it annually or whenever you update your financials.
Final Thoughts
Getting your ICV Certificate is not just about compliance, it’s a strategic move to grow your business in the UAE. By increasing your ICV score, you open doors to more significant opportunities in the local market.
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