New Year - New LEI Vendor
The month of January seems like a good time for a mental clean-up. How do you get your business off to a good start in the new year?
How often do you need to renew an LEI code?
GLEIF has decided that an LEI code must be renewed once a year. This is to ensure that the company information remains up-to-date and valid. If you wish to avoid having to renew your LEI code every year, you have the following options:
"An LEI must be renewed once a year"
- You can sign up for automatic renewal at Global FinReg.
- You can choose a validity period of 3 or 5 years. You can read more about the different validity periods and corresponding prices for renewal in this article.
- You can ask us to manage the renewal process by contacting us and ask for an invoice.
Advantages of renewing your LEI code with us
We ensure that your LEI code is always valid and up-to-date by continuously verifying your company information at GLEIF. As our customer, you receive ongoing maintenance, whether you order a new LEI code, or renew an existing LEI code.
You may also decide whether you prefer to renew your LEI code with a login on our website, or whether you want us to do it for you. You can read more about how to renew your LEI code below.
How to renew your LEI code
It is easy to renew your LEI code at Global FinReg. You can do it in four easy steps:
- Go to “My Page”
- Press “Renew Now”
- Select your desired validity period
- Pay by card, MobilePay, or bank transfer
You will receive an order confirmation via email. If there are less than 58 days left before the expiry of your LEI code, you will receive a receipt for the renewal at the same time. Your new expiry date appears here. If there are more than 58 days left, we will renew your LEI code when there are 58 days left, after which time you will receive your receipt.
Different validity periods and prices for LEI renewal
We offer three validity periods of 1, 3 and 5 years respectively. The validity periods all include GLEIF fees and ongoing maintenance of your company data. You get the cheapest LEI code, if you choose a 5-year validity period.
The prices for LEI code renewal is as follows:
- 1 year validity: 77 EUR + VAT
- 3-year validity: 196.50 EUR + VAT
- 5-year validity: 307.50 EUR + VAT
Global FinReg is responsible for maintaining your data when you renew your LEI code. This means that we will stay on top of any changes made to your company's information or ownership structure. We do this through an automatic process via your country's business register, and because of this, you can rest assured that your LEI data is always correct.
Automatic renewal of LEI code
Automatic renewal is a way to ensure that your LEI code remains active. You can sign up for automatic LEI renewal in three quick steps:
- Go to "My Page"
- Tap “Auto Renew” under your company name
- Pay by card
After this, your LEI code is renewed once a year, approx. 30 days before expiry. We deduct the money from your card when your LEI code has been renewed, and you subsequently receive a confirmation email and a receipt.
If the payment fails, or if you have been issued a new card, you will receive an email from us.
Can I renew my LEI code with Global FinReg, if it’s registered elsewhere?
You can renew your LEI code with us, even if it’s currently registered with another provider. Click here, if you want to transfer your LEI code to us.
We are often asked if it’s possible to renew your LEI code when you move it, and if you can keep your current validity period if you move an active LEI code. The answer to both questions is YES. We will renew your LEI code if it has expired, and we will take over the current validity period if it is active.
You can read more about moving your LEI code here.
Insights
We want to be the best LEI provider
LEI codes have become an integral part of today’s business practices, and quality and service are paramount when people choose an LEI provider.
The LEI system and its huge potential
The LEI system emerged after the financial crisis of 2008 when the financial markets crashed after the collapse of Lehman Brothers.
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