In-Country Value (ICV) Certificate: What You Need to Know

In-Country Value (ICV) Certificate in UAE What You Need to Know - Makebiz

In today’s increasingly competitive economic landscape, companies strive to demonstrate their reliability and their contribution to the nation’s development. One such tool is the In-Country Value (ICV) certificate, which validates a supplier’s participation in the economic growth of the United Arab Emirates. It not only signals a business’s commitment to the local economy but also unlocks new opportunities to participate in government tenders and contracts. For foreign companies, it represents an opportunity to strengthen their position in the UAE market.

The certificate is issued by an authorized certification body via the UAE Ministry of Industry and Advanced Technology platform. It confirms that the enterprise actively contributes to the country’s economic development by creating jobs, investing in local assets, and supporting local suppliers.

Why is the ICV certificate needed

It is essential for participating in public and private sector tenders and for enhancing a firm’s competitiveness in the UAE market. Holding this document can significantly boost a firm’s chances of securing contracts, as many organizations prioritize suppliers who demonstrate a commitment to strengthening the local economy.

Key Features

1.  The cost of obtaining the certificate ranges from AED 500 to AED 10,000, depending on the complexity and volume of the required documentation.

2.  The processing time typically ranges from 14 to 28 working days. This period includes the verification of submitted documents and an audit of financial statements.

3.  Validity period: 14 months from the date of the financial statements, allowing companies to regularly update their data and keep their information current.

The certificate is required for various types of enterprises, including:

— Tender participants.

— Service providers.

— Government entities. — Contractors in the industrial and energy sectors.

— Organizations where clients specifically require In-Country Value (ICV) certification.

Required documents for obtaining the certificate

1. Organizational incorporation documents — confirming legal status and business registration.

2. Financial statements — an audit is usually required. New companies operating for less than 10 months may submit simplified financial statements; this streamlines the certification process for startups and small businesses.

3. Accounting records demonstrating financial transactions.

4. Completed ICV template — the standard document for the application.

5. Procurement and supplier information — confirming the use of local partners and supplies.

6. Payroll records and employee data — showing the number of jobs created within the UAE.

7. Data on investments in regional assets — confirming the business is investing in the local economy.

8. Proof of premises lease — demonstrating the organization’s physical presence in the country.

9. Revenue data — showing the firm’s financial results.

Once all documents are gathered, the company must create an account on the official NAFIS platform using UAE Pass and upload the documents for review. Upon successful completion of the audit, the firm receives its In-Country Value certification.

Several strategies can help a business improve its rating in the eyes of evaluators:

  • Increasing procurement from local suppliers. Supporting the economy through purchases from local producers positively impacts the rating.
  • Investing in local assets. Such investments demonstrate the enterprise’s serious commitment to scaling operations in the region.
  • Hiring local employees. Creating jobs for locals not only improves the company’s image but also contributes to the country’s economic growth.
  • Upskilling foreign workers. Investments in the training and development of foreign employees are also taken into account during the assessment.
  • Implementation of modern technologies. The use of innovative solutions and technologies helps enhance the organization’s efficiency and competitiveness.
  • Compliance with environmental standards. Sustainable development and adherence to environmental regulations are becoming increasingly important factors in business assessment.

The certificate recognizing a company’s contribution to the national economy is a vital tool for businesses seeking to strengthen their position in the UAE market and demonstrate their commitment to advancing the local economy. Obtaining this certificate opens doors to participating in government tenders and securing contracts, which in turn drives business growth. In a landscape of global competition, holding an ICV certificate can provide a significant competitive advantage, enabling a business not only to survive but to thrive in the UAE market.

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