Services

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.
Get a Free Consultation
Services

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.
Get a Free Consultation

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.

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Alfa Petroleum Refined Oil Trading L.L.C
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Outlook Community Management LLC
Happy to recommend them as a great company to work with.
Kelly Hand
West One Project Management LLC
Auditcare has been a reliable partner in managing our auditing needs. Their expertise and thorough examination have ensured compliance and provided us with a clear and accurate financial picture.
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Majid Alnaqbi General Trading L.L.C
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Gemini Logistics Solutions LLC
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Usha Food Trading L.L.C
Accurate and timely financial reporting by the team has greatly simplified my decision-making process..I can see where my money is going. I get full transparency into my books!
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Oil and Gas Operations Consulting LLC
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Amira Jewellery And Piercings FZ LLC
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SAH Perfumes LLC
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Casa Verde Real Estate LLC
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Effortless ICV Certification with Auditcare

Expertise in ICV Certification
Auditcare possesses the skills, knowledge, and experience necessary to expedite the ICV certification process for clients, ensuring a timely outcome.
Experienced Team
Our team comprises highly qualified professionals with extensive experience in ICV compliance and certification. We stay up-to-date with evolving ICV regulations and requirements.
Swift Certificate Acquisition
Our team is dedicated to helping companies obtain the ICV certificate efficiently, streamlining the certification process to save time.
Comprehensive Assistance
We offer end-to-end assistance, from ICV certification to financial statement preparation, to help businesses meet their compliance and certification requirements seamlessly.
Proven Track Record
Auditcare has a proven track record of assisting businesses in achieving ICV certification, making us a trusted partner for companies seeking compliance in the UAE.
Transparent Process
We offer a transparent ICV certification process to ensure your business fully complies with UAE ICV requirements and contractual commitments.

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.

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Why ICV Certification?

Bid Evaluation Significance
The ICV score plays a pivotal role in the bid evaluation process of participating entities, lending added weightage to suppliers and vendors during contract awards.
Mandatory Requirement
Obtaining a certificate from a recognized certifying authority is a prerequisite for businesses operating in Abu Dhabi that seek participation in government and semi-government procurement processes and tenders.
Enhanced Procurement Opportunities
Companies looking to secure procurement tenders in Abu Dhabi are increasingly expected to engage with entities possessing ICV certificates to bolster their own ICV scores.
Indirect Benefits
Even entities indirectly associated with tenders stand to benefit from the ICV certification program. "Spend" by ICV certified suppliers that remains within the UAE or contributes to the UAE economy is considered for ICV calculation purposes.

Frequently Asked Questions

The Program’s strategic partners comprise of a cluster of government entities and leading national companies in diverse fields, including the Program’s implementers, such as the Abu Dhabi Department of Economic Development (ADDED) represented by the Department of Government Support, which provides an umbrella for 62 local entities, Abu Dhabi National Oil Company (ADNOC) and Aldar Properties. A number of new partners are expected to join the Program in near future.

Ministry of Industry and Advanced Technology (MOIAT) has authorized certain professional firms for the verification and issuance of the ICV Certificate. 

The certification process is quite simple, you must submit IFRS based financial documents of your company that have been audited by a licensed auditor. These documents shouldn’t be any older than two years. Entities that are 9 months or less than 9 months old can submit their un-audited management accounts of the last 9 months instead to the certifying bodies. After arranging the necessary documents, you can fill in the submission form and submit (along with your documents) to any empaneled certified body. They will verify your records and certify you. 

The ICV Score represents the Company’s value-add within the UAE economy. The Score is determined after taking the below into consideration and is represented as a percentage:

  • Goods Manufactured/Third Party Spend
  • Investment
  • Emiratization
  • Expatriate Contribution
  • Bonus – Exports, Emirati Head Count and Investment Growth

The ICV Certificate is valid for a period of 14 months from the date of issuance of the audited financial statements.

There is no minimum score or benchmark required to bid for a tender. The score is fully evaluated based on the Company’s audited financial statements and will vary based on the different attributes.
 
A company can participate in tenders without an ICV certificate; however, the ICV score will be calculated as zero.

The ICV Certificate shall be obtained for each individual license and thus each legal entity within a group would be required to obtain a separate ICV Certificate. In case of combined or consolidated financial statements, proper disclosures about the group entities along with the related breakdown of assets, liabilities, revenues and costs for each legal entity is required.

Yes, the companies operating in different free zones are eligible for obtaining the certificate from any certifying body.

Yes, the companies located outside Abu Dhabi can use their ICV certificates to bid in tenders conducted by government entities under the Local Content Program.

Each supplier may only issue one certificate per business license. This certificate can be used with all participating entities in accordance with their implementation policies.

The fee for the ICV Certificate varies depending on the size of the Company and the procedures required to be performed to issue the ICV Certificate.

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