What is the ICV Certificate in the UAE, Why It’s Important, and How YAS ACCOUNT Helps You Track It?
The UAE’s In-Country Value (ICV) program is a key national initiative designed to boost local economic growth and sustainability.
Understanding how the ICV Certificate works—and how digital tools like YAS ACCOUNT simplify compliance—can give your business a clear competitive advantage.
What is the ICV Certificate?
The In-Country Value (ICV) Certificate is a national initiative by the UAE’s Ministry of Industry and Advanced Technology (MoIAT) to strengthen the local economy.
It assesses how much a company contributes to the UAE’s economic development through local procurement, Emiratization, and domestic investments.
Companies dealing with government entities or major corporates like ADNOC, Etisalat, du, or Mubadala must present a valid ICV certificate annually.
Objectives of the ICV Program:
- • Increase local content in the UAE supply chain.
• Support national manufacturers and service providers.
• Create jobs for UAE nationals.
• Attract and retain investments within the country.
• Support the “Make it in the Emirates” initiative.
Key Components Measured in ICV:
ICV scoring is derived from audited financials and includes:
- • Local expenditure with UAE-based suppliers.
- • Salaries paid to Emirati staff.
- • Local investments in assets or facilities.
- • Manufacturing activities within the UAE.
- • Operational expenses within the country.
- • Emiratization ratio in the workforce.
Who Needs the ICV Certificate?
-
- • Companies working with government or semi-government entities.
- • Suppliers and contractors participating in public tenders.
- • Any business aiming to improve its competitive position in the UAE market.
Validity Period:
The ICV Certificate is valid for 14 months from the date of the latest audited financial statements and must be renewed to remain eligible for tenders.
Documents Required for ICV Certification:
- • Latest audited financial statements.
• Detailed report of local expenditures.
• Emiratization data and proof of UAE staff employment.
• Valid trade license and corporate registration documents.
How YAS ACCOUNT Helps You Track and Manage ICV:
YAS ACCOUNT provides a dedicated ICV Management Module designed in compliance with MoIAT guidelines. It enables you to:
• Automatically collect financial data from your accounting system.
• Calculate ICV scores as per official formulas.
• Generate detailed reports on local spending, Emiratization, and investments.
• Produce an auditor-ready ICV report for submission.
• Receive renewal reminders before the certificate expires.
Result: YAS ACCOUNT helps businesses stay compliant, accurate, and ready for every audit or tender.
Summary Table:
| Criterion | Business Role | How YAS ACCOUNT Supports |
|---|---|---|
| Local Spending | Engage local suppliers and services | Tracks and analyzes local purchases |
| Emiratization | Employ UAE nationals | Monitors headcount and payroll ratios |
| Investment | Maintain capital within the UAE | Records local fixed assets |
| Reporting | Prepare ICV certificate | Generates auditor-ready reports |
