LEI stands for Legal Entity Identifier. It is a unique identification code for legally independent entities. This is a 20-character, alpha-numeric code based on the ISO 17442 standard.
Entities around the globe who are participating in financial markets and have transactions reporting obligation are required to have an LEI. Legal requirement to have an LEI is coming from respective national financial regulators.
In this case, service provider will not be able to fulfill the transactions reporting obligation and most probably will stop providing services.
Yes, all entities are eligible for having an LEI. It is a great idea to have one as scope of application of the LEI code is constantly expanding.
LEI(s) are issued by Local Operating Units (LOUs). They act as the primary interface for legal entities wishing to obtain an LEI.
GLEIF is organization which supports the implementation and use of the Legal Entity Identifier (LEI). GLEIF is headquartered in Basel, Switzerland. Additional information is available here.
You can use GLEIF search available here
You can use LEIZONE services to apply for an LEI. Click here and follow the instructions.
An LEI is valid for one year from the date of issuance/last renewal date.
Each LEI is valid for a term of one year after issuance or renewal. LEI data needs to be updated every year. If an entity doesn`t renew the LEI code status of an LEI will change to ‘LAPSED’ .
You can use GLEIF search available here
Current Data -> Registration details -> Next Renewal
A direct parent company is defined as an entity that directly controls one or more entities and consolidates their financial statements.
The ultimate parent company is defined as the highest level legal entity preparing consolidated financial statements for the group.
Within multiyear contract the client prepays the LEI code renewal fee in advance for up to 5 (five) years. With multiyear LEI(s) there’s no additional fees to pay and no invoice processing.
Yes, we offer multiyear LEI(s) by automating the LEI renewal process. With multiyear LEIs there’s no additional fees to pay and no invoice processing.
Issuance is the process of registration of the new LEI code.
Renewal is an annual update of the data related to the issued LEI code to maintain its validity.
The transfer is moving the LEI from one service provider to another.
If you wish to transfer your existing LEI code to us, please do the following:
1. Please go to “transfer” section of our portal.
2. Fill the LEI code transfer application form.
3. LEIZONE will provide you “Letter of Authorization” to sign by respective authorized signatory from your legal entity.
4. LEI code transfer process begins.
LEIZONE accepts VISA/Mastercard, banklinks (Baltics) and bank wire transfer in EUR (SEPA or international). Please contact our support at [email protected] if you would like to pay by bank wire transfer in euros or other currencies.
Please refer to the Pricing section.
Yes, we send invoice in relation to each finalized order.
If VAT (value added tax) is applicable to your jurisdiction, the VAT amount will be presented during the application process.
Yes, we include the GLEIF fee in the prices we charge.
The price includes all LEI fees, including the (current) GLEIF fee of $11 per LEI. If VAT is applicable to your jurisdiction, the VAT amount will be presented during the application process.
Simple and convenient LEI code management service
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