Since 2018, the UAE has had an ICV (In-Country Value) program, which was introduced at the initiative of the National Oil Company (ADNOC). There are branches and divisions of this organization both in Abu Dhabi and in Dubai and other regions of the country. In fact, its requirements are mandatory and apply to all suppliers in the Emirates – contractors who want to participate in government procurement and contracts must obtain a special ICV certificate for tenders in advance.
Stages of collaboration with Make Fortune
1
Submit your application
we answer your questions, think over the work plan, stipulate terms and stages
2
Enter into a contract
we clearly state the services provided and the cost
3
Monitor the progress of work
you will be assigned a personal manager who will control your project and will always be in touch
4
Get result
the project has been successfully completed
Why should you contact us?
Registration of your company in the UAE on a turnkey basis
We help to open corporate and personal bank accounts
We are engaged in registration and renewal of licenses, the VAT registration procedure
We provide assistance in obtaining a resident visa of the country
We carry out a comprehensive audit, help to keep accounting records
Assistance in obtaining permits and certificates
VIP escort We meet clients at the airport, escort them in premium class cars
We work with government agencies, free zones and banks without intermediaries
Maximum transparency in the provision of services. We ensure complete confidentiality of your data
What is the meaning of certification?
Obtaining an ICV certificate is a highly recommended procedure for all suppliers who wish to cooperate with ADNOC and become participants in group tenders. It is worth noting that the National Oil Company is a whole group of organizations that is responsible for key sectors of the Emirates economy. Abu Dhabi Ports, the Department of Economic Development, Musanada and other important structures are associated with it.
Important: it is permissible to participate in procurement and contracts without a supporting document, but in this case the ICV Score will be zero. When evaluated, their candidacy will be less preferable.
Obtaining an ICV certificate is a procedure for confirming established requirements, which subsequently opens up the most profitable cooperation with national organizations in the UAE. If you care about developing your business and want to become an important market participant, then going through the procedure is mandatory.
The ICV program was introduced to achieve the following goals:
Localization of supply chains within the UAE
Support for local production
Stimulation of foreign investments
Creation of additional jobs
Increased contribution to the country's GDP
Increasing the share of the private sector
Localization of supply chains within the UAE
Support for local production
Stimulation of foreign investments
Creation of additional jobs
Increased contribution to the country's GDP
Increasing the share of the private sector
How to get an ICV certificate?
The procedure for obtaining an ICV certificate is as follows:
Drawing up a financial report.
Calculation of the ICV score.
Increase the score if necessary. For this, it is extremely useful to get advice on improving the rating for the ICV certificate.
Submission of documents for obtaining a certificate to ADNOC ICV.
Review of documentation by the institution.
Making a decision with the subsequent receipt of the ICV certificate.
The financial report should be issued for the last 10 months of your company's operation. The documentation must be drawn up in accordance with International Financial Reporting Standards. You can only get a financial report from an officially approved auditor - so your company must first be audited.Important: if your business was created recently, then a management report is prepared instead of a financial report.This documentation should be submitted to the ICV certification body. But before that, you still need to make an application.The application must include the following information:
information about the company;
features of commercial activity;
details of the project for which certification is required;
assessment of the ICV score;
supporting documents – invoices, contracts and other acts.
The next step after submitting all the documentation is the evaluation of the application. An authorized institution will check the package of documents. If the commission approves the application, the full certification procedure will begin.Important: the time required to review the application and all attached documents depends on the size of the applicant company, the number of employees and the degree of readiness of all important certificates. If everything is in order with the documentation, then the procedure for obtaining an ICV certificate takes an average of 1 month. It is obvious that the independent passage of the certification procedure without the support of competent representatives is the right step towards delaying the process and the emergence of many problems. The UAE has quite specific requirements for suppliers who want to participate in tenders. Each candidate must first:
prepare an impressive package of documents;
calculate your ICV Score;
pass an audit;
interact with the certifying authority.
For these reasons, it is highly recommended to seek the services of a specialized ICV certification organization. Instead of dealing with document issues, lengthy processing times, and potential rejections, you receive guaranteed assistance and guidance in obtaining the key document required to participate in lucrative tenders in the UAE.
Requirements for certification
As already noted, the requirements for an ICV certificate are complex. The candidate needs:
confirm your financial performance in reporting and through audit;
prepare documents for registration of the certificate;
prepare documents confirming a specific ICV Score.
The audit must be carried out no later than 2 years before the start of the certification procedure. The following documents will need to be submitted along with the application:
a license to carry out specific commercial activities;
results of the audit;
contracts, invoices and other documents that confirm a specific ICV Score.
The higher the ICV Score, the better. Its size is influenced by a large number of factors:
volume of production of goods and services to third parties;
volume of investments in the UAE;
emiratization - the number of employed citizens in your company;
income outside the UAE.
Obviously, it will be necessary to confirm all these indicators with relevant documentation.
Order a consultation on obtaining an ICV certificateThe main advantage of obtaining an ICV certificate is access to large tenders from national companies and institutions of the Emirates. In addition, the passed certification also provides the following benefits:
increasing the attractiveness of the business for local contractors and consumers;
increase in profit - due to the influx of new customers;
in fact, a more protected status than companies that do not have an ICV;
access to innovations and the latest technological developments.
If you want to take part in profitable tenders in the UAE, grow your business to unprecedented scale and increase interaction with local counterparties, then please contact our ICV certification specialists for advice. We will tell you in detail about the features of the procedure and provide effective recommendations for the quick execution of an important document.
