LEI stands for Legal Entity Identifier. It is a twenty-digit number that can be used to precisely identify the holder. This unique assignment of legal entities creates more transparency on the international financial markets.
The abbreviation LOU stands for Local Operation Unit and this refers to organizations that issue LEI numbers on behalf of the GLEIF.
The Global Legal Entity Identifier Foundation, GLEIF for short, is a transnational foundation based in Basel, which was founded by the Financial Stability Board in 2014. GLEIF’s main task is to issue LEI numbers to LOUs, which in turn issue LEI numbers to legal entities.
The Global LEI System, abbreviated GLEIS, is a worldwide database in which the data of all holders of an LEI number are listed. The database can be viewed by anyone free of charge.
The LEI code makes it possible to identify participants in financial transactions. This makes it easier to comply with legal reporting requirements and prevent the risk of misuse of financial transactions.
As a rule, an LEI number is issued within 24 hours after receipt of payment. Delays may occur due to insufficient information provided.
An LEI number is required by all participants in financial transactions. This applies to, among others:
– Corporations, their subsidiaries and branches
– Foundations and funds
– Non-profit organizations
– Public institutions and authorities
– Sole proprietors
After the LEI number has been issued, it is initially valid for one year. After this year, the LEI code must be renewed.
If an LEI number is no longer valid, no financial transactions can be carried out with it by the associated company. If you are not sure whether your LEI number is still valid, you can run a query. If the number is no longer valid, you must renew it.
Once the LEI code has been issued or renewed, it cannot be changed. After one year, you need to renew the LEI number. You can apply for the LEI number for several years through our site. We will take care of the renewal on time.
An LEI number can be applied for online at an LOU or Registration Agent. To do this, you need to fill out the online form and select the payment method. You will receive the LEI code within one hour to the specified email.
The Lei code consists of a total of 20 digits. It always starts with four digits, which allows the responsible LOU to be identified. This is followed by two zeros, which separate the LOU code from the rest. Next comes a series of twelve numbers and digits. This is the actual identification of the rights holder. Finally, there is a check digit. This is intended to prevent the LEI number from being assigned to another rights holder as a result of an incorrect entry.
The information associated with an LEI can be viewed by anyone. They are stored in the GLEIS, the database of GLLEIF.
In addition to the name of the legal entity, details of the legal domicile and the head office of the associated company as well as the data of the LEI number are also published.
LEI numbers reduce the risk of financial transactions on the international financial market, as the increased transparency enables the acting parties to inform themselves about their (potential) business partners.
Furthermore, the LEI can facilitate customer registration, as only the LEI number needs to be entered instead of a multitude of data. In this way, the bank has all the information it needs to process its financial transactions.
You can easily renew the LEI number on our site by filling out the short LEI renewal form. It is possible to sign a contract for several years, so that when your LEI expires, we automatically take care of its renewal.
If your LEI number is already registered with another service provider, you can transfer it to us without any problems. To do this, simply use the form for an LEI transfer on our site.
If the legal entity is registered in a register, for example the Commercial Register, no further documentation is required.
Some companies are directly related to a parent company. In this case, documents proving this connection are required. These may be annual financial statements or consolidated financial statements. For companies that are registered in the commercial register, these documents are unnecessary.
Companies that are not entered in any register must demonstrate the existence of the company in some other way. This can be done, among other things, by means of articles of association, a business registration or a shareholders’ agreement. This also applies to sole proprietors.
Funds prove their business activity, for example, by means of a distribution permit from BaFin.
When applying, make sure to specify the company that manages the LEI number. This is not necessary if the assets are registered in the registry court. If the investment assets are registered in the registry court, an LEI must be applied for the institution.
To apply for LEI numbers for several companies, send us the data of the companies (preferably as an Excel spreadsheet). We will take care of the application for the LEI numbers. It is best to contact our support for this purpose.
An LEI is independent of nationality. So you can apply for an LEI at any time through our service.
Registration on this site is free and without any obligation for you.
This service is free of charge on our site.
When entering the company name, pay attention to the correct spelling. Abbreviations are often used even though the company name is written out in full in the commercial register.
If you have applied for the LEI number only recently, it is possible that it has not yet been assigned. This can take up to 24 hours. Wait a few more hours and try again. If you still can’t find the company, contact our support.
In this standard, the International Organization for Standardization has defined data by which legal entities can be clearly identified. Since it is a globally valid standard, ISO 17442 does not include a country code. Each legal entity can thus be uniquely identified and the data is available free of charge to anyone interested.
The ISO 17442 standard contains the following information:
– The name of the owner as it appears in the commercial register or other directories.
– The address
– The country in which the company was founded
– The date of LEI assignment
– Code for the representation of the country names.
Level 1 data provides information about the rights holder.
If this is a subsidiary, dependencies on a parent company must be mapped. This information is contained in the Level 2 data. Level 2 data only need to be provided if the parent company consolidates the financial statements of the subsidiary. The last consolidated financial statements of the parent company must be submitted during data entry.