ICV certification
The ICV (In-Country Value) Certification is a program designed to promote economic diversification and local business growth by evaluating and certifying companies based on their contribution to the national economy.
ICV certification
Top accounting and auditing firms in UAE play a crucial role in helping businesses achieve ICV certification, a strategic initiative in Abu Dhabi. This certification assesses and certifies companies on their commitment to fostering economic development. It evaluates various criteria, such as local investment, job creation, Emiratization efforts, and procurement of goods and services from local sources.
The goal of ICV certification is to incentivize businesses to contribute significantly to the local economy, thereby promoting sustainable growth and diversification. Top accounting and auditing firms in UAE assist companies in meeting these requirements, ensuring compliance and maximizing benefits.
By obtaining ICV certification, businesses enhance their market position and align with the broader economic objectives of the region. With expert guidance from top accounting and auditing firms in UAE, companies can navigate the certification process efficiently and strengthen their local impact.
The strategic impact of implementing the ICV Program will be as follows
- Localization & Development: Strategic localization of supply chains and the development of new local industries and services.
- Private sector: Increase the private sector’s contribution to national GDP
- Research & Development: Enhance spending on R&D and advanced technology
- National GDP Growth: Contributing to the growth of national GDP
- Job Opportunities: Creating valuable job opportunities in the private sector
- Foreign Investments: Stimulating and attracting foreign investments and diversifying the economy
How to Get UAE ICV Certification in Abu Dhabi
ICV Requirements:
Familiarize yourself with the specific requirements outlined by the relevant authorities, usually related to local spending, Emiratization, and other economic contributions.
Business Registration:
Ensure your business is registered and compliant with UAE laws and regulations. This may involve having a valid trade license.
Financial Documentation:
Prepare financial documents, such as audited financial statements, to demonstrate your company’s financial position.
Employee Data:
Gather information on the number of employees, including details about Emirati employees, as part of the Emiratization component.
Procurement Data:
Compile data on your company’s procurement, showcasing the portion spent on goods and services from local suppliers.
Submit Application:
Submit the ICV certification application through the designated portal or government entity. Ensure all required documents are attached.
Who Can Apply for ICV Certification?
Top accounting and auditing firms in UAE play a crucial role in helping businesses secure ICV (In-Country Value) certification, which is open to companies of all sizes and ownership structures across various industries. Whether local or international, businesses looking to contribute to the local economy can apply for ICV certification.
The program assesses factors such as local spending, Emiratization efforts, and procurement from local suppliers. Top accounting and auditing firms in UAE assist companies in meeting these criteria, ensuring compliance and smooth certification.
Since ICV certification is often required for government tenders and contracts, it is particularly relevant for companies involved in public projects. By working with top accounting and auditing firms in UAE, businesses can navigate the certification process efficiently and maximize their local economic impact.
Simplified ICV Certification with AH Management Consultancy
Getting an ICV (In-Country Value) certification in the UAE is essential for businesses supporting the local economy. AH Management Consultancy Group simplifies the process, ensuring compliance and eligibility for government projects. Partnering with top accounting and auditing firms in UAE helps businesses secure certification smoothly. Whether big or small, your company can benefit from AH Management Consultancy Group’s expertise in obtaining ICV certification and boosting local impact.
