ICV Certificate Dubai

AbstractICV is recognized as one of the certifying bodies authorizedto grant an ICV (in country value) Certificate in conjunction with the relevant authorities, in the UAE.

Following the Process Below to Obtain an ICV Certificate.

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    The ADNOC ICV Certification Program :


    The ICV Certificate, which stands for "Increase in Company Value Certificate," is a recognized document that shows a business is committed to increasing its value through a number of planned initiatives.

    ICV Assessment

    Issue audited financial statement based on IFRS Standard Or using management accounts for new established entities less than 10 months.

    Statutory Audit

    Fill in ICV Template as per the guidelines. Approach one of the authorized certifying bodies for evaluation

    Get ICV Certification

    Once ICV certificate is received, you are now eligible to submit to one of the participating entities

    ICV Certification Services

    Process of Obtaining ICV Certification

    The MoIAT has designed a streamlined procedure to obtain an ICV certificate in the UAE. The best ICV certification service providers in Dubai can guide suppliers regarding the process. The following simple steps must be executed to obtain the ICV certificate:

    Statutory Audit

    Issue audited financial statements for the company/supplier, based on IFRS

    ICV Template

    Fill out the certificate application form according to recent guidelines & financial statement

    Get ICV from ADNOC

    Use the certificate according to the guidelines of each applicable authority

    Who Requires the ICV Certificate?

    Companies operating inside or outside the UAE can apply for an ICV certificate as per the ICV guidelines. A supplier who directly provides the goods or services (Tier 1 Suppliers) needs to declare their ICV score to gain weightage during their tender evaluation and award process.

    GOODS MANUFACTURE

    UAE government suppliers need an ICV certificate. Get the certificate and an excellent ICV score here.

    EMIRATIZATIONS

    ICV certification is a process to certify supplier or contractor ICV score by the independent pre-approved ICV certifiers.

    LOCAL INVESTMENTS

    The ICV is a certificate that is issued to certified suppliers evaluating their contribution to the local economy.

    EXPORT OF GOODS AND SERVICES

    The Company's ICV Template will consider all the costs while providing goods or services for all clients.

    EXPATRIATE CONTRIBUTION

    Expatriate contribution. Contribution: 10% contribution for calculating ICV Score for goods and services.

    THIRD-PARTY SPENDING

    This attribute's score ranges from 0% to 50% dependent on local market spending and ICV.

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    Frequently Asked Questions

    Local manufacturing, products, services, investments, and Emirati hiring and development are considered. It promotes national manufacturing and purchasing. We’ve created FAQs to help management roll out the ICV program.

    The UAE government created the National In-Country Value Program (ICV) to help the Ministry of Industry and Advanced Technology (MoIAT) boost industry productivity and sustainability. The Program considers local manufacturing spending, commodities and services, investments, Emirati hiring and education, and job creation. The scheme promotes UAE manufacture and recycles consumer spending.

    The Abu Dhabi Department of Economic Development (ADDED), represented by the Department of Government Support, which serves as an umbrella for 62 local entities, the Abu Dhabi National Oil Company (ADNOC), and Aldar Properties are just a few of the government organizations and top national businesses that make up the Program’s strategic partners. In the near future, a number of new partners are anticipated to join the program.

    Primary goals of the program include the growth of new local businesses, Strategic localization of supply chains and services expanding exports, diversifying the economy, and encouraging and attracting foreign investment.

    Enhancing spending on R&D and cutting-edge technology; Contributing to the growth of the national GDP; Creating worthwhile job opportunities in the private sector; Increase the share of the private sector in the GDP of the country.

    You can utilize the same certificate for the National ICV Program if your business has previously earned the Unified ICV certificate.

    For the ICV Certificate’s verification and issuance, MoIAT has granted authorization to a select group of professional firms. We are excited to help you with the certification process as one of the Certifying Bodies.

    Any organization, whether located inside or outside the UAE, may receive an ICV Certificate by following the ICV requirements. The National ICV Program may compel Tier 1 suppliers (suppliers that directly provide products or services to the Program’s Partners) to disclose their ICV Score because it plays a crucial role in the evaluation and awarding of their tenders. In order to ensure that Tier 2 and lower providers are competitive in their tenders with Tier 1 suppliers, they could also be asked to produce their ICV Certificate.

    The Company’s value addition to the UAE economy is indicated by the ICV Score. The following factors are taken into account to determine the Score, which is expressed as a percentage: Manufacturing of Goods/Third Party Investment Emiratization Exports, Emirati Population Growth, and Investment Growth: Expatriate Contribution Bonus.

    After the audited financial accounts are released, the ICV Certificate is valid for 14 months.

    Contact Us

    We appreciate hearing from you. Please contact our staff with any questions or for additional information. We’ll respond as soon as possible.

    Office Location

    708, Oxford Towers, Business Bay, Dubai.

    Email Address

    support@abstracticv.com

    Contact No

    +971 4557 0244

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