How Tech Companies Can Qualify for an ICV Certificate in UAE

In the UAE’s fast-evolving economy, the In-Country Value (ICV) Certificate has become a strategic tool for businesses seeking to secure government contracts and grow their footprint. While traditionally associated with industries like oil, gas, and manufacturing, tech companies are now realizing the importance of this certification. If you're a technology service provider, software company, or IT consultancy, here's how tech companies can qualify for an ICV certificate in UAE — and why it's worth pursuing.

What Is the ICV Certificate?

The ICV Certificate is part of the UAE’s National In-Country Value Program, which aims to boost local economic contributions by evaluating how much a company contributes to the UAE economy. This includes spending on:

• UAE-based goods and services
  
  

• Hiring and developing local talent (Emiratisation)
  
  

• Investment in local infrastructure
  
  

• Revenue retained within the country
  
  

The higher your ICV score, the better your chances of winning government contracts, particularly from entities like ADNOC, Etihad Rail, TAQA, and others.

Why Should Tech Companies Care About ICV?

Many tech companies overlook the ICV program, assuming it's only relevant to industrial sectors. However, UAE government and semi-government entities increasingly require ICV certificates for IT tenders, digital transformation projects, cybersecurity solutions, and more.

Benefits of obtaining an ICV certificate in UAE for tech firms:

• Eligibility for large-scale government and public sector contracts
  
  

• Improved reputation and compliance credentials
  
  

• Competitive edge over non-certified companies
  
  

• Stronger local partnerships
  
  

How Tech Companies Can Qualify for an ICV Certificate in UAE

While the qualification process is the same across sectors, tech companies must adapt their operations and financial reporting to meet ICV scoring standards. Here's how:

---

1. Register a Legal Entity in the UAE

Only companies legally registered in the UAE can apply for an ICV certificate. This can be a mainland or free zone company, but it must have audited financial statements prepared under IFRS.

2. Prepare Audited Financial Statements

You’ll need audited financials for your most recent fiscal year. These statements should be:

• Not older than 2 years
  
  

• Audited by a UAE-licensed audit firm
  
  

• Aligned with International Financial Reporting Standards (IFRS)
  
  

3. Work with a Certified ICV Certifying Body

You’ll need to apply through a MOIAT-approved ICV certifying body. These firms verify your financials and calculate your ICV score. Some approved entities include:

• KPMG
  
  

• Deloitte
  
  

• PwC
  
  

• Crowe UAE
  
  

• BDO
  
  

They’ll request documentation and conduct an assessment before issuing your ICV certificate.

4. Apply for the ICV Certificate

Once your assessment is complete, you’ll receive a certificate valid for 14 months from the date of your audited financials. You can renew it annually or if your financials significantly change.

Pro Tips for Tech Companies to Boost Their ICV Score

• Hire UAE Nationals: Even one or two qualified Emiratis can improve your score.
  
  

• Buy Local Software & IT Services: Choose UAE-based vendors where possible.
  
  

• Lease or Buy Office Space: This shows long-term investment in the UAE economy.
  
  

• Document Everything: Maintain detailed financial and HR records for verification.
  
  

• Consider a Pre-ICV Consultation: Some firms offer score simulations before submission.
  
  

Final Thoughts

With the UAE’s increasing focus on digital transformation and innovation, tech companies that qualify for an ICV certificate are better positioned to lead and grow. Whether you’re a startup or an established IT enterprise, aligning with the ICV program not only opens up new business opportunities but also supports national economic goals.