Legal Entity Identifier is a unique code for legal entities involved in global financial transactions.
If you are trading in the global financial system, you will need an LEI. Getting an LEI is easy. You can apply for an LEI in minutes.
If you would like to obtain an LEI, you will need to provide certain documents.
These documents are listed below:
Registered company name
Legally registered address
Company registration number
Name of the legal entity’s responsible legal person
A document to attest to the above.
When applying for an LEI on behalf of another legal entity, you should provide a power of attorney signed by the company’s authorized signatory, usually the director.
An LEI code provides certain data about a legally recognized company or foundation; the data can be called up via the LEI index. LEI entry from
Business includes public information such as their name, address, where they are registered, and whether they are a branch office or another “parent company”.
In order to obtain reliable data from the company, the data is strictly examined before an LEI is issued. Level 1 Data provides basic information about the legal entity. It can be said that this is a global identification number of a company in the global financial system.
Level 1 data provides simple business card information about a legal entity. When migrating from a national business ID to a global one, it is of the utmost importance that the transition is seamless and that this new global identifier is accurate and reliable for the end user. GLEIF has stated that a legal entity is its
Can confirm data from over 650 company registers.
When reporting parent company information, you must confirm the existence of this relationship by providing consolidated financial statements. An annual report or consolidated financial statements of the company will only be accepted as evidence of the relationship. These are level 2 data. You are only allowed to report maternity company information if the parent company owns more than 50% of the company and consolidates the accounts with the subsidiary listed there.
The LEI code is valid for one year from the day the Legal Entity Identifier is registered. It has to be renewed annually, this makes it reliable in the global financial market. The extension can easily be carried out in any accredited LOU. The LEI does not change when it is transferred from one LOU to another.
The LEI code cannot be obtained directly from the Global Legal Entity Identifier Foundation (GLEIF), instead there are some Local Operating Units (LOUs) that provide LEI codes for legal entities. LOUs can have different prices for LEIs and their registration speed can be different. Depending on the service provider, it can take a few hours, days or weeks to obtain an LEI. GLEIF is the foundation responsible for monitoring the LEI data quality and integrity of the LEI system.
The data of the submitted LEI application are compared with the information in the respective local business register. If the company does not exist or the data does not match the registration, you can regulate or renew your documentation.
Once the LEI application has been submitted, your request will go for review. You can easily complete your application by choosing your preferred payment method.
You should give preference to our website for fast, cheap and high quality service. Apply for an LEI number for German companies.
We offer German companies a fast, inexpensive and high-quality service and validate the data in the GLEIF database according to your specifications.
If you want to save time and money, you can order your Legal Entity Identifier several years in advance. It will make things really easy for you. It is guaranteed that your LEI number will remain active and secure for the period of time you choose.
All in all, you will get a lei number in just three steps in a short period of time:
Step 1: application
Step 2: data validation
Step 3: lei confirmation
Sources: PublicDomain on December 20, 2021