ICV (In Country Value Program)

Financial advisors can help companies to calculate their ICV and to develop strategies for increasing their ICV. Companies that demonstrate a high level of ICV are often seen as more attractive investment partners. This is because they are seen as more likely to contribute to the country's long-term economic development.

Factors that can be considered when calculating ICV:

• The amount of money that the company spends on local goods and services.
• The amount of investment that the company makes in local infrastructure.
• The number of jobs that the company creates for local workers.
• The company's contribution to local taxes and royalties.
• The company's commitment to environmental sustainability.

1. Obtain audited financial statements. Your financial statements must be prepared based on International Financial Reporting Standards (IFRS) and be 2 years at maximum. You can use your management accounts if your company is less than 10 months old.
2. Complete the ICV Template. The ICV Template can be found on the Ministry of Industry and Advanced Technology (MoIAT) website. You will need to provide information about your company's spending on local goods and services, its investment in local infrastructure, and its creation of jobs for local workers.
3. Submit the ICV Template to an approved certifying body. There are a number of approved certifying bodies in the UAE. You can find a list of these bodies on the MoIAT website.
4. Pay the ICV certification fee. The fee for the ICV certificate is AED 500 for SMEs and AED 1,000 for large companies.
5. Wait for the ICV certificate to be issued. The ICV certification process typically takes 2-3 weeks.

The In-Country Value (ICV) Certification is a government-backed program that promotes economic growth and development in the UAE by encouraging companies to invest and spend locally. By getting an ICV certificate, your company can demonstrate its commitment to the local economy and gain a competitive advantage in bidding for government contracts.

We offer a comprehensive range of ICV certification services, including:

• Assistance with completing the ICV template
• Submission of the ICV template to an approved certifying body
• Payment of the ICV certification fee
• Tracking the progress of your ICV certification application
• Advice on how to improve your ICV score

We also offer a free consultation to help you understand the ICV certification process and determine if it suits your company.