Everything you need to know about LEI codes

What is an LEI code and why is it important?

A Legal Entity Identifier (LEI) is a unique code that identifies a legal entity in all types of financial transactions and reporting. LEI codes are mandatory for legal entities that engage in trading in financial instruments and are designed to increase transparency in the financial markets.

An LEI code is a 20-character alphanumeric code that contains information about the legal entity, including its name, address, and ownership structure. The code is registered in GLEIF’s LEI database, a searchable database of global LEI codes that everyone can access.

You can read more about LEI codes in our article, ‘What is an LEI number?’

LEI codes are important because they help identify and trace financial transactions, thus reducing the risk of illegal financial activities. They are also essential to comply with legislation in many countries and within the financial sectors.

If a company doesn’t have an LEI code, it cannot carry out certain financial transactions and risks being rejected by banks and other financial institutions. This is why it’s important that companies operating in the financial markets register an LEI code and keep it up to date.

"A legal entity must have an active LEI code to conduct financial transactions."

To register and renew an LEI code, you must use an LEI provider. It is generally recommended that you do not go for the cheapest one, as they usually leave it up to you to ensure that your information meets the legal requirements. Read here why it is not a good idea to choose a cheap LEI provider.

CLICK HERE TO ORDER YOUR LEI CODE NOW

Who needs an LEI code?

The LEI code (Legal Entity Identifier) is a global identification number used to identify legal entities. It is mandatory for companies that wish to do trades in the financial markets in the EU and other parts of the world. The LEI code allows authorities and investors to track and monitor risks across markets and borders.

All companies participating in financial transactions are required to have a valid LEI-code by their banks and other financial institutions.

You can read more in our article, ‘Who needs an LEI code?’

Get your LEI code at Global FinReg - a step-by-step guide

Do you need to register or renew your LEI code? We offer an easy and secure process to order and maintain your LEI code. Our automated system retrieves your business information directly from your local register and makes the application process quick and simple.

Get a new LEI code in four simple steps

Step 1: Create a user with Global FinReg

Go to our website and create a user profile, or log in if you already have a profile. This gives you access to our application form and other useful features.

Step 2: Enter the legal name or business ID

In the application form, you must enter either your company name or business ID. This information is used to retrieve your company data from your local business register.

Step 3: Sign a Limited Power of Attorney

To ensure we have the correct entity data, you will be asked to complete a limited power of attorney. This gives us permission to retrieve and process your business information.

Step 4: Pay by card, MobilePay, or wire transfer

Select your preferred payment method and complete the payment for your LEI code. We accept payment by card, MobilePay, or wire transfer.

At Global FinReg, we also offer different validity periods and the option of automatic renewal of your LEI code.

Ordering an LEI code for a company without a CVR number

If you need to order an LEI code for a company without a business ID, or if your local business registry doesn’t have API access, follow the same steps as described above. However, you must fill in the company's name, address, and registration date yourself and upload a document confirming the company's name and current address.

Issuance of your LEI code

You will receive a confirmation of your purchase of the LEI code as soon as we have received your order. It usually takes 0-2 business days to issue your LEI code. It is often issued on the same day. You will receive an email as soon as the code is ready for use.

CLICK HERE TO ORDER AN LEI CODE NOW

Get your LEI code with Express LEI service

Do you need to get an LEI code quickly? We offer Express LEI service, which ensures same-day delivery of your LEI code. Whether you need an LEI code for a company with or without a business ID, our Express LEI service is an ideal solution. We make it easy and hassle-free for you to be compliant in a short amount of time.

"Do you need to get an LEI code quickly? Global FinReg offers Express LEI service, which ensures same-day delivery of your LEI code."

You can read more about our Express LEI Service here.

We take care of all the practical aspects regarding the creation and retrieval of documents. Our system retrieves your business information directly from your local business register, making the process fast and error-free.

When you have placed your order, you will receive a confirmation, and your LEI code will be issued shortly thereafter. We will send you an email as soon as your LEI code is ready for use.

Everything you need to know about LEI code expiry and renewal

An LEI code is important for any organization involved with financial transactions. But what happens if your LEI code expires and you don't renew it?

Please remember that an LEI code has to be renewed once a year to maintain its validity. If your LEI code expires, it can potentially have serious consequences, including disruption of your financial transactions and fines for being non-compliant.

To renew your LEI code, you must contact your LEI provider and let them know that you wish to renew your code. At Global FinReg, we offer to renew your LEI code automatically and for multiple years. This way, you don't have to worry about contacting us every year.

If your company does not have a business ID, you must remember to inform us of any changes in the legal name, address, and ownership structure, when you renew your LEI code.

"An LEI code is important for any organization involved with financial transactions. But what happens if your LEI code expires and you don't renew it?"

You can read more about LEI code expiration and renewal here.

Manage multiple LEI codes with our Bulk LEI Service

Updating, renewing, and creating LEI codes can be a time-consuming process, especially if you have several to do. With our Bulk LEI Service, you can handle all your LEI codes at once and save both time and trouble.

Our Bulk LEI Service allows you to order, renew and move LEI codes in bulk. Regardless of whether you need to renew several LEI codes at the same time, or create new LEI codes for your legal entities, we can help you streamline the process.

There are many advantages to using our Bulk LEI Service. You have an overview of all your LEI codes, you get an easy and fast ordering process, and you have a designated customer service rep to help you. You can also benefit from competitive pricing and receive a consolidated invoice that makes it easy to manage your LEI codes.

Regardless of whether you are an asset manager, investment or capital association, audit firm, or law firm, our Bulk LEI Service can streamline your LEI handling. But it is not only reserved for these types of companies. All customers with more than five LEI codes can benefit from our Bulk LEI Service and streamline their handling of LEI codes.

"Our Bulk LEI Service allows you to order, renew and move LEI codes in bulk."

Contact us today to learn more about how our Bulk LEI Service can help you manage your LEI codes in a simple and efficient way. We are ready to answer your questions and help ensure that your LEI codes are handled in the best possible manner.

You can read more about our LEI Bulk Service here.

Cheapest is not always best - don’t compromise on quality and service

When it comes to choosing services, it can be tempting to go for the cheapest option available. But when it comes to important things like an LEI registration, it's important to choose a reputable provider that takes care of the whole process for you.

We understand that pricing is important, but it is also important to choose a reliable provider that can provide the necessary expertise and customer service. At Global FinReg, you get both competitive prices and reliable services that ensure that your LEI registration is in good hands.

Our team consists of experts who specialize in the registration of LEI codes. We are always ready to help you navigate through the process. We make sure your information is correct and up-to-date, and we make it easy for you to register and maintain your LEI code. This means that you save both time and trouble.

When it comes to LEI code registration, please remember that the cheapest provider is far from the best. We offer you an LEI service that encompasses quality, service, and security.

Contact us today to get started with your LEI registration.

"When it comes to LEI code registration, please remember that the cheapest provider is far from the best. Global FinReg offers you an LEI service that encompasses quality, service, and security."

Read our in-depth article, ‘The cheapest LEI code is not the best - and here’s why.’

Avoid pitfalls - how to avoid dishonest LEI providers

It is important to be aware of dishonest LEI providers. At Global FinReg, we want to help you avoid the pitfalls.

In our article "Dishonest and Devious LEI Providers", we give you valuable tips and insights on how to identify and avoid dishonest providers. We examine pitfalls and warning signs that may indicate a rogue provider, so you may make informed decisions and protect your business.

We are dedicated to providing a reliable and professional LEI service to our clients. We ensure that your LEI registration complies with all applicable rules and regulations and that your business information is protected throughout.

It is quick and easy to renew your LEI code with us

We offer fast and easy renewal of your LEI code. We make sure your LEI code is always up-to-date and valid. This way, you can focus on growing your business.

With our user-friendly platform, it is fast and easy to renew your LEI code. As a customer of Global FinReg, you avoid unpleasant surprises and unnecessary business disruptions, as we offer automatic renewal and multi-year validity periods of your LEI code.

You can read more about renewal of LEI codes here. Please contact us if you have any questions or need help.

Move your LEI code to Global FinReg

An increasing number of legal entities are choosing to transfer their LEI codes to a reputable and reliable provider. They want to avoid bad experiences in terms of poor quality and service.

We offer an easy, fast, and secure process for transferring your LEI code. Our experts are ready to handle the entire transfer process for you, so you don't have to do it yourself. It is free of charge to move your LEI code to our platform.

You can use our user-friendly platform to manage and update your LEI code and rest assured that you are in compliance with the latest legal requirements. We maintain your information on an ongoing basis, so you can keep focused on your business. We also offer automatic renewal of your LEI code.

"We offer an easy, fast, and secure process for transferring your LEI code."

You can read more about moving your LEI code here.