Assistance in ICV Certification
In-Country Value (ICV) Program – Background
The In-Country Value (ICV) program is an initiative by the UAE government aimed at boosting economic growth by encouraging local investment, enhancing Emiratisation, and supporting the diversification of the national economy. Originally launched by ADNOC and now adopted by various government entities, the ICV program evaluates and certifies the contribution of companies to the local economy.
Businesses seeking to work with Government bodies, or participating entities are required to obtain an ICV certificate that reflects their economic impact within the UAE. This includes factors such as local procurement, Emirati workforce employment, manufacturing, and investment in the country.
At FSH Financial Consultants FZE, we offer comprehensive In-Country Value (ICV) Certificate assistance to help your business meet the requirements of the UAE’s ICV program. Our services are designed to streamline the certification process, ensure compliance with the latest guidelines, and enhance your competitiveness in government tenders.
Our ICV Certification Process
At FSH Financial Consultants FZE, we guide your business through the complete In-Country Value (ICV) certification process with clarity, compliance, and confidence. Here’s how the process works:
1. Understanding the ICV Requirements
We begin by helping you understand the ICV program’s objectives and how it applies to your business operations. Whether you are applying for the first time or renewing your certificate, we ensure you’re aligned with the current ICV guidelines issued by the Ministry of Industry and Advanced Technology (MoIAT).
2. Gathering Required Financial Information
To begin the ICV assessment, we request your audited financial statements for the latest financial year, prepared in accordance with International Financial Reporting Standards (IFRS). If you don’t have audited statements, we assist you in connecting with a registered auditor.
3. ICV Template Preparation
We prepare the official ICV template, which includes detailed calculations of your economic contribution in key areas such as:
Goods and services procurement from UAE-based suppliers
Investment in the UAE
Emiratisation (employment of UAE nationals)
Expatriate contribution
Revenue generated within the UAE
Training of UAE nationals
Each section is completed with supporting documentation to maximize accuracy and ICV scoring potential.
4. Review and Quality Check
Before submission, our team thoroughly reviews the ICV file for compliance and consistency with MoIAT guidelines. This quality control ensures a smooth certification process and minimizes the risk of delays or rejections.
5. Coordination with Certifying Bodies
We coordinate directly with an MoIAT-approved ICV certifying body to submit your application and respond to any queries during the review process. Our involvement helps streamline communication and expedites certification.
6. Issuance of the ICV Certificate
Once the application is approved, you will receive your official ICV Certificate, valid for 14 months from the date of your audited financial statement. We deliver this certificate to you and guide you on how to use it when participating in tenders or contracts with ICV-mandating entities.
7. Ongoing Support and Renewal
Our support doesn’t stop after certification. We provide ongoing advisory services to help you improve your ICV score for future renewals and align your operations with ICV-enhancing strategies.
Why Choose FSH for ICV Assistance?
Deep understanding of ICV guidelines and updates.
Strong experience with UAE-based SMEs and large enterprises.
Personalized approach tailored to your business model and industry.
End-to-end support from documentation to certification.
Ensure your business stands out in government processes by maximizing your ICV potential with FSH Financial Consultants FZE.