What is Duns Number and How Can You Get One in Dubai, UAE?

In today's age of globalization and global business, companies need identification numbers to gain credibility, automate transactions, and facilitate international business. Amongst those identifiers is the very crucial DUNS (Data Universal Numbering System) Number. 

For companies operating in Dubai and the UAE, a DUNS number can be essential for government contracts, credit applications, financial transactions, and going global. This article will walk you through what a DUNS number is, why Dubai businesses need it, and how to obtain it.

What is a DUNS Number?

A DUNS number is an internationally accepted unique identifier for businesses, assigned by Dun & Bradstreet. It is widely utilized by governments, banks, and enterprises worldwide to assess a company's legitimacy and creditworthiness. 

Some of the prominent features of a DUNS number include a nine-digit singular identifier assigned to a specific business entity, the ability to track a firm's financial solvency and credit record, and utilization by over 330 million firms worldwide 

It is required for global trade, supplier verification, and financial reporting, to make business identity verification uniform and enable companies to conduct international business and secure trade partners.

Why Do Companies in Dubai Need a DUNS Number?

A DUNS number enhances the global reputation of a company by providing an internationally recognized business identity. This makes it easy for verification of the company's legitimacy by partners, suppliers, and financial institutions. Dubai is a global trade hub, and import-export business firms need a DUNS number to conduct business with foreign suppliers, manufacturers, and government agencies. 

Some government and large corporate procurement departments mandate that their suppliers acquire a DUNS number to qualify for bidding opportunities and tenders. Banks, financiers, and investors in Dubai usually need a DUNS number to assess the financial wellness of a business before granting loans, trade credit, or investments. 

For a business in Dubai that wishes to grow internationally in the U.S., Europe, or other parts of the world, obtaining a DUNS number makes it easier for licensing, approvals of trade, as well as applications for funding.

In Dubai, UAE, Who Assigns the DUNS Number?

DUNS numbers are issued only by Dun & Bradstreet (D&B). Dubai companies can apply directly to D&B or through their regional agents and business consultants. The Dubai Chamber of Commerce and Industry and other trade associations can also assist in obtaining information on how to obtain a DUNS number.

How to Apply for a DUNS Number in Dubai?

1. Check Eligibility

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A DUNS number is not required for all businesses, but it is highly beneficial for businesses applying for foreign trade licenses, companies bidding on government contracts, associations looking for international suppliers or financiers, and firms entering emerging markets. 

2. Collect Necessary Documents

Before sending in your application, ensure you have the requisite documents, e.g., recent trade license, business owner's Emirates ID, business license data (business name, address, activity, etc.), official communication data (email, telephone number, business site, etc.), and VAT certificate (in case you have it).

3. Submit the Application to Dun & Bradstreet

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Dubai companies can apply through D&B's website, approved service providers and consultants in the UAE, or business advisory firms helping with the DUNS application. 

4. Verification & Approval 

Upon submitting the application, D&B confirms the business information, which may include background checks, document validation, and follow-ups for incomplete information. 

5. Receive the DUNS Number

Once confirmed, D&B assigns the DUNS number, which firms can utilize for business transactions, vendor licensing, and financial reporting.

Dubai DUNS Number Cost and Processing Time

The price of a DUNS number depends on the processing time and other services required. Standard processing is 15-30 days and is costlier, while the expedited process of 5-10 days costs more. Firms can obtain the latest fees and processing times from D&B's UAE office or service providers in the area.

How to Use Your DUNS Number?

Companies can use their DUNS number after obtaining it, for international trade, government tenders and contracts, supplier screening and onboarding, bank and financial applications, and investor and credit reports. It should be included in formal business documents, such as contracts, invoices, and financial statements.

Common Challenges and How to Overcome Them

Processing delays may occur, and therefore, it is recommended that all documents be submitted correctly and professional business experts are consulted to make the procedure smooth. 

Rejection on account of inaccurate information in the application can be prevented by re-verifying company data and renewing expired business records and trade licenses. In case of ambiguity about the requirements, businesses need to approach D&B's local office or business setup experts and cross-check with government trade agencies for any guidelines.

A DUNS number is a useful asset for Dubai businesses wishing to expand internationally, gain financial credibility, and win the trust of international business partners. 

Through it, businesses can have access to enhanced trade opportunities, advance their financial stature, and stand as reliable actors in the international market. If you’re a business owner in Dubai looking to enhance your global reach and credibility, applying for a DUNS number is a strategic step that can open doors to new growth opportunities.

Seek our professional on-the-ground guidance, contact us via mail at info@radiantbiz.com or WhatsApp & call us at  +971 55 234 7124!

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