What is ICV in UAE?
ICV means In-Country Value. It is a program in the UAE that measures how much of a company’s spending supports the local economy. Businesses apply for ICV certification in UAE and receive a score.
The higher the score, the stronger the contribution to the UAE economy. That score directly improves eligibility for government contracts, ADNOC tenders, and federal projects.
How is the ICV Score Calculated?
The ICV score comes from audited financial statements. The Ministry of Industry and Advanced Technology (MoIAT) evaluates:
- Local Procurement – Spending with UAE suppliers that hold ICV certificates.
- Emiratization – Salaries allocated to UAE Nationals.
- Expatriate Workforce – Costs related to non-Emirati employees.
- Investment in UAE – Spending on factories, offices, and technology within the country.
- Exports – Export revenue as a percentage of total sales.
- Profit Retention – Profits retained in the UAE.
These categories are weighted, and the combined result gives the final percentage.
Example of ICV Score Calculation
Consider a trading company in Dubai with AED 10 million annual spending:
- AED 4 million spent with UAE suppliers holding ICV certificates → 40% local spend.
- 10% of payroll assigned to UAE Nationals.
- 20% of sales from exports.
- Profits fully retained in the UAE.
With this structure, the company may reach an ICV score of 48%. That score becomes valuable when competing for ICV-linked projects.
Validity and Renewal of ICV Certification in UAE
An ICV certificate is valid for 14 months from the date of issue. Once it expires, companies must reapply with their latest audited financial statements.
The renewal process is not automatic. Each year, businesses need to submit updated records, workforce data, and investment details to reflect their current operations. If the company makes significant changes, such as hiring more Emiratis, increasing local procurement, or expanding investment, these improvements can raise the next ICV score.
Planning for renewal in advance helps avoid gaps. A valid certificate ensures your company can keep participating in ADNOC tenders and other federal projects without interruption.
Why Your Business Needs ICV Certification in UAE
- It qualifies your company for ADNOC and federal tenders.
- It strengthens your position in the UAE supplier market.
- It aligns your business with the UAE’s Industrial and Economic Strategy 2030.
Frequent Questions Businesses Ask
ICV in UAE Requirements – You need audited financial statements, supplier records, workforce data, and proof of investment.
ICV in UAE Cost – Fees vary depending on auditor and company size. Large and complex financials require more detailed work.
What is a good ICV score in UAE? – Above 40% is competitive, above 50% is considered strong, and 60% or higher is excellent. Though it’s important to note that these figures are indicated as industry practice rather than government definition.
How Elevate Can Help
At Elevate Auditing, we assist companies by:
- Preparing financial statements and required documentation.
- Calculating and improving ICV scores.
- Keeping the process aligned with MoIAT standards.
Conclusion
ICV certification in UAE supports both compliance and growth. It gives businesses access to new tenders, improves their standing in the market, and builds long-term value. Companies that secure certification place themselves in a stronger position for success in the UAE economy.