How to get an ICV Certificate in UAE?

Learn more about what is National In-Country Value (ICV) Certification and step-by-step instructions on how to obtain ICV certificate & ICV score.

Introduction to ICV Certification in UAE

In the highly competitive landscape of the United Arab Emirates (UAE), businesses must adhere to various regulatory requirements and standards to succeed. One such imperative for businesses operating in the UAE is the In-Country Value (ICV) Certification. Understanding the ICV (In-Country Value) certificate meaning, its requirements, and how to obtain it is crucial for companies aiming to secure government contracts and establish credibility within the local market.

This comprehensive guide will provide you with insights into ICV Certification, its significance, and a step-by-step process to obtain your ICV Certificate. Discover how the National In-Country Value Program, and trusted consultants like Forvis Mazars can assist you in achieving your ICV goals in Dubai, Abu Dhabi, and beyond.

Understanding ICV Certification

ICV Certification, short for In-Country Value Certification, is a strategic initiative introduced by the UAE government. Its primary objective is to foster economic growth and development by encouraging businesses to contribute to the local economy. This certification evaluates and verifies a company's commitment to using local goods and services in its operations.

Why ICV Certification Matters

ICV Certification is not just a compliance requirement; it's a strategic advantage for businesses operating in the UAE. Here's why it holds such significance:

Government contracts: Many government agencies and entities in the UAE, including ADNOC, require suppliers and contractors to possess an ICV Certificate. Without it, your business may miss out on valuable opportunities.
Market competitiveness: ICV Certification enhances your competitiveness in Dubai, Abu Dhabi, and the wider UAE market. It showcases your dedication to supporting the local economy, which can attract local partners and customers.
Transparency: Holding an ICV Certificate demonstrates transparency and accountability in your procurement processes, which is highly valued in the UAE's business community.
Sustainability: By sourcing locally, you contribute to the sustainability of the UAE's economy and reduce the environmental impact associated with international imports.

How to Get ICV Certificate

Let’s talk about how the companies can get an In-Country Value (ICV) Certificate. Obtaining an ICV Certificate involves several essential steps and requirements. Here's a step-by-step guide to help you navigate the process:

ICV Certificate Requirements:

Before applying for ICV Certification, ensure your business meets specific criteria, which may include:

Demonstrating a significant portion of your expenses allocated to local suppliers and service providers.
Maintaining a workforce that includes a substantial percentage of UAE nationals.
Documenting capital investment within the UAE.

ICV Certificate Application Process:

Business Registration: Verify that your business is registered with the relevant UAE authorities.
Document Compilation: Gather all necessary documentation, including financial records, purchase invoices, employee details, and contracts.
Assessment: Your business will undergo a comprehensive assessment to determine its ICV score, measuring the value generated within the UAE.
ICV Calculation: The ICV score is computed based on various factors such as local spending, employee nationality, and capital investment.
ICV Certificate Issuance: Once your ICV score meets the required threshold, you will receive the ICV Certificate, valid for a specific duration.
Compliance and Reporting: Maintain accurate records and continue adhering to ICV guidelines. Periodic reporting may be necessary to renew your certificate.

Forvis Mazars: Your trusted ICV consultants in UAE

When it comes to obtaining ICV Certification and navigating the complexities of the process, Forvis Mazars stands out as one of the best ICV Certificate providers in Abu Dhabi and Dubai, UAE. We are renowned for our expertise, professionalism, and commitment to helping businesses achieve their ICV objectives.

Our services include:

Comprehensive ICV Certification guidance.
Evaluation of your ICV readiness.
Assistance with document preparation and submission.
Ongoing support to ensure compliance.

Partner with Forvis Mazars, your trusted ICV consultants in Abu Dhabi - UAE, to embark on a successful journey toward obtaining your ICV Certificate.

Conclusion

In conclusion, ICV Certification in the UAE is an essential credential for businesses aiming to thrive in the local market and secure government contracts. By comprehending its significance and following the steps outlined in this guide, you can position your business for success in the UAE's dynamic business environment.

For personalized guidance and assistance with National ICV Certification or ICV Certificate applications in Dubai, Abu Dhabi, and other UAE regions, reach out to experts who specialize in navigating the intricacies of UAE's regulatory requirements. Initiate your ICV journey today and unlock a world of opportunities in the flourishing UAE market.

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Document

National In-Country Value (ICV) Certification brochure - Forvis Mazars in UAE

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Contact

Jaffer Rupawala Partner - ICV Certifications

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