The Federal Tax Authority (FTA) has announced that businesses must complete Corporate Tax registration within 90 days from the Date of Incorporation / MOA.
The ICV Certificate in the UAE is issued to companies after assessing their economic contribution to the local economy. Businesses with a valid ICV certificate gain a significant advantage in government and semi-government tenders, as contract awards are partially evaluated based on the company’s ICV score.
At Reyson Badger, we assist businesses in obtaining their ICV Certificate in Dubai and across the UAE, as well as in strategically improving their ICV score, ensuring stronger competitiveness during tender evaluations and procurement processes.
The National ICV Program in the UAE
The National In-Country Value (ICV) Program is a key economic initiative introduced by the UAE government under the “Projects of the 50” agenda and led by the Ministry of Industry and Advanced Technology (MoIAT). It is designed to strengthen the national economy by maximising value creation within the country and increasing the contribution of local businesses to economic growth.
The program prioritises the expansion of local manufacturing, greater sourcing from UAE-based suppliers, and the localisation of supply chains across key sectors. It also supports Emiratization by encouraging private-sector companies to create meaningful employment opportunities for UAE nationals. In addition, the ICV Program aims to reduce dependency on imports while fostering innovation, advanced technologies, and sustainable business practices.
By aligning public and private sector efforts, the National ICV Program drives industrial development, boosts competitiveness, and enhances investor confidence. Through this approach, the UAE continues to position itself as a strong global investment hub while supporting long-term economic diversification and GDP growth.
Objectives of the ICV Program
The National ICV Program aims to:
- Strengthen and localise supply chains
- Develop domestic industries and service sectors
- Attract and retain foreign direct investment
- Diversify the economy beyond oil and gas
- Create private-sector employment for Emiratis
- Increase private-sector contribution to GDP
- Promote R&D, innovation, and advanced technologies
Key Stakeholders in the ICV Program
ICV Certifying Bodies
Authorised by MoIAT, these empanelled entities evaluate company data and issue ICV certificates based on verified financial and operational information.
ICV-Certified Companies
Businesses that meet ICV requirements and receive certification enabling them to gain preferential treatment in tenders and procurement processes.
ICV Certificate in Dubai & UAE
The ICV (In-Country Value) Certificate evaluates a company’s contribution to the UAE economy based on key factors such as local procurement and manufacturing, investment within the UAE, Emiratization, and revenue generated outside the UAE.
To obtain an ICV Certificate, companies must submit IFRS-compliant audited financial statements that are not older than two years. The ICV Certificate remains valid for 14 months from the date of the audited financial statements.
Guidelines for Obtaining an ICV Certificate in UAE
- Only MoIAT-approved certifying bodies can issue ICV certificates
- Separate ICV certificates are required for each trade license
- Branches under one license may receive a combined certificate
- Financial data must match the latest audited financial statements
- Newly established companies (under 10 months) may use management accounts
- Once selected, a certifying body cannot be changed without valid justification
- All values must be reported in AED
- Supporting documentation must be provided for all figures
- Any misrepresentation may result in penalties or tender disqualification
Who Needs an ICV Certificate?
Tier 1 Suppliers
Companies supplying directly to ICV-participating government and semi-government entities.
ICV score is mandatory during tender evaluation.
Tier 2 & Lower-Tier Suppliers
Suppliers to Tier 1 companies.
ICV certification improves competitiveness and procurement opportunities.
ICV Score & Its Importance
The ICV score measures the extent to which a company contributes to the UAE’s economy. A higher ICV score significantly enhances a company’s competitiveness in government and semi-government tenders, improving its chances of securing contracts.
Key Components of the ICV Score Include:
- Local manufacturing and procurement from UAE-based suppliers
- Capital investments made within the UAE
- Employment of UAE nationals (Emiratization)
- Contribution of the expatriate workforce
- Revenue generated outside the UAE
- Year-on-year growth in local investments
How Is the ICV Score Calculated?
General Formula:
ICV Score = (Total UAE Spend ÷ Total Revenue) × 100
Manufacturers:
(Local manufacturing costs + Emirati costs + 60% of expatriate costs) ÷ Total costs
Suppliers:
(Local procurement value × supplier ICV score + Emirati costs + 60% of expatriate costs) ÷ Total costs
Investment-Based Entities:
(Net book value of UAE assets ÷ Total net book value)
How to Improve Your ICV Score
- Increase sourcing from UAE-based suppliers
- Hire and train Emirati nationals
- Invest in UAE manufacturing or infrastructure
- Expand local operations and facilities
- Transfer technology and knowledge locally
Eligibility for ICV Certification
To qualify for ICV certification, companies must:
- Plan to participate in UAE government or semi-government tenders
- Have audited financial statements prepared in compliance with IFRS standards
- Obtain certification through MoIAT-approved ICV certifying bodies
- Maintain accurate, transparent, and verifiable financial records
Step-by-Step: How to Get an ICV Certificate in UAE
1. Prepare audited financial statements or management accounts
2. Complete the official ICV template
3. Submit documents to an authorised certifying body
4. Undergo evaluation and verification
5. Receive the ICV Certificate
Benefits of ICV Certification in UAE
- Preference in government tenders
- Improved business credibility
- Increased market competitiveness
- Stronger local supply chain presence
- Support for UAE economic diversification
- Long-term sustainability and growth
Conclusion
At Reyson Badger, we simplify the ICV certification process in the UAE by connecting businesses with trusted, approved ICV consultants who ensure accuracy, compliance, and timely certification. Whether you are bidding for government tenders or strengthening your position with ADNOC and major UAE entities, our expert-backed approach helps you maximize your ICV score while avoiding costly errors. With a clear understanding of UAE ICV guidelines and a focus on long-term value, Reyson Badger supports your business in achieving certification confidently and leveraging it for sustainable growth in the UAE market.
