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Obtain ICV certificate in Dubai

Obtain ICV certificate in Dubai

The In-Country Value (ICV) certification is an initiative program first issued by the UAE government to promote economic growth and localization in the country by encouraging the development of local industries. Our Dubai audit firm offers professional services to help you obtain the ICV and assess your company’s operations and performance. Obtaining the Dubai ICV certificate has many advantages for Dubai companies to expand their business opportunities, improve their reputation and support the country’s economic objectives.

How can I get an ICV certificate in Dubai?

Procuring the ICV certificate is a complex procedure that requires external support from an audit company in Dubai. Our experts simplify the ICV certification process, which reduces the risk of errors or omissions and increases the chances of a successful outcome.

Afterward, you will need to choose an authorized audit firm specializing in ICV certification. Talking with our trained and experienced accountants and auditors will help you collect and prepare all necessary documentation and information.

Audit firms will conduct an assessment of your company to determine its compliance with the ICV criteria. At the end of this successful process, you will be issued the certificate, which is valid for one year.

The ICV certificate must be renewed annually to remain valid. The renewal process can be done by other auditing firms in Dubai or with the same audit firm that granted the certificate.

Is the ICV certificate mandatory in UAE?

The ICV certificate is not mandatory in the UAE, but it is highly encouraged by the Dubai government. Both government and private sector companies in Dubai prefer to work with businesses that hold an ICV certificate in Dubai. The certificate demonstrates a commitment to supporting the local economy and has a competitive advantage.

ICV certificates grant companies new business opportunities, such as winning government contracts, increasing brand visibility, and supporting UAE economic growth.

Before applying for the ICV certificate in Dubai, you must verify if your company meets the eligibility criteria. These requirements are found on the official portal of the Industrial Development Bureau.

Working with our team of expert accountants in Dubai ensures that the company’s financial and operational systems and processes are in compliance with the ICV criteria.

ADNOC ICV Certificate

The Abu Dhabi National Oil Company (ADNOC) In-Country Value (ICV) program is an initiative aimed at promoting local businesses and increasing the level of local content in the oil and gas sector in the UAE. It was established in 2018 and in late 2019, the program expanded to cover different governmental and semi-governmental entities. In September 2021, the program was again extended to the federal level in the UAE by the Ministry of Technology and Advanced Technology (MoIAT). The ICV certification process is now governed by MoIAT.

The ADNOC ICV program is similar to the normal ICV program but with a few differences. The ADNOC ICV program is specifically designed for companies bidding for contracts with ADNOC, while the normal ICV program is aimed at promoting local businesses.

The process of obtaining the ADNOC ICV certificate also requires professional support. We offer accounting services in Dubai and audits to demonstrate your company’s commitment to local content. Our audit company in Dubai will analyze the specific criteria and requirements for the ADNOC program.

FAQ about ICV certificates in Dubai

What does an ICV certificate mean?

The Dubai ICV certificate is a program that measures the level of local content in a company’s operations and rewards companies for using local suppliers, services, and labor. Companies that hold an ICV certificate are required to use local services, including local Dubai payroll services, whenever possible.

How do I obtain the ICV certificate in Dubai?

Obtaining the certificate requires external support from an authorized Dubai audit firm that will conduct an assessment of your company’s performance to determine its compliance with the ICV.

How long is the certificate valid?

The Dubai ICV certificate is valid for one year and must be renewed annually. The renewal process is similar and can be conducted by the same audit company or you can choose to work with different audit firms in Dubai.

What are some advantages of having the ICV certificate?

The ICV certificate is a recognized quality symbol and opens new business contract opportunities.

Is the ICV certificate mandatory in UAE?

No, the ICV certificate in Dubai is not mandatory but is encouraged by the government to help increase the level of local content in their operations.

What is the ADNOC ICV certificate?

The ADNOC ICV certificate is similar to the standard ICV certificate but aims towards promoting local businesses in the oil and gas sector. Our Dubai audit firm offers services and consultancy for obtaining both ICV certificates.

The Dubai ICV certificate is encouraged for businesses, especially considering the economic aspects and statistics of the UAE. Here are a few figures:

  • UAE had a GDP of $415 billion in 2021 with an annual growth of 3.9%
  • The net inflow of foreign direct investors was 5% of the annual GDP
  • Approximately 343.000 private companies were established in 2020 in UAE
  • In 2020, UAE exported $42B in crude petroleum

Let the process of ICV certification be handled by our experienced Dubai audit company and successfully obtain the certificate. If you are interested in working with our company, please contact our audit firm for detailed procedures on this topic. 

We also offer accounting services in Dubai to ensure that your company is fully compliant with the ICV criteria.