How to get a Legal Entity Identifier (LEI)

Click the Register New LEI button

The LEI is a regulatory requirement which allows individual entities who are engaging in transaction be easily identified on a global basis. If you are transacting in the global financial system, capital markets or in a regulated industry you will more than likely be required to obtain a Legal Entity Identifier (LEI). If you want to find out more about more see our post on What is an LEI?.

Applying for an LEI number is simple, and can be completed in a matter of minutes regardless of the entity type, or which country you are located. The GLEIF have truly created a global product with the LEI, so if you have a UK company it can obtain its LEI in China and be perfectly valid.

If you are asking how to get an LEI number, you can begin the LEI registration process by clicking the application button below, or read on to find out more detailed information about the requirements.

Who needs an LEI Number?

Once we have identified how to obtain a Legal Entity Identifier, we also need to know who is required to have an LEI. The Legal Entity Identifier has simplified the process of identifying trade counterparties on a global scale. By using the LEI as a common identifier for all financial entities the processes of KYC, customer onboarding, AML checks and regulatory reporting have become more streamlined and efficient.

You may be required to legally register your entity for an LEI Code in order to be compliant with local regulations such as Mifid II, EMIR or to fulfill your local reporting obligations such as CSDR or SFTR and SEC regulations in the USA.

Any company that is considered a legal entity may complete a Legal Entity Identifier application and get indexed on the official LEI register. A Ltd Company, LLC, an association, funds & trusts, a charity, anything that is recognised by law to be an organisation.

Generally any company trading stock or shares, involved in securities transactions, issuing or trading debt or listed on a stock exchange will require a Legal Entity Identifier. This extends to any company in a heavily regulated industry such as insurance and asset management.

However, in the private sector more companies such as Limited Companies and Sole Traders are turning to the LEI Code even though it is not necessarily required.

This is because there are many benefits associated with having an LEI registered. It provides you with an instant credibility boost, and an internationally recognised identity card. You can also benefit from the added layer of identity security and prevent any such related errors.

The global LEI system (GLEIS) is not just a regulatory burden. The LEI has multiple business use cases included KYC security, fraud detection, anti-money laundering and new use cases including blockchain technology are currently being explored to allow the streamlining of regulatory reporting. The LEI number application process is laid out in the steps below.

How to get a Legal Entity Identifier (LEI)

Below is a detailed step-by-step guide to successfully completing an application for a Legal Entity Identifier. Roughly 97% of applications made are successful and we have issued thousands of LEIs for clients, and customers applying for LEI codes on behalf of clients.

If you make an error, or omit some important detail our registration team will contact you usually within an hour via the contact details provided in step 1.

The LEI application form only takes a few minutes and any representative of the company may apply on behalf of the entity.

1. Click on the 'Register New LEI' button here. To begin, fill out your contact details as the applicant. This information will be used to contact you in case any additional information is required and renewal reminders will be sent here.

2. Next, begin filling out the details of the entity which requires an LEI. This step includes information such as the address, name of Director or person legally responsible for the entity such as CEO, Owner or legal representative.

3. The next section 'Level 2 Data' gives you the opportunity to report parent company information.

For example, if your company is a branch of a larger organisation, or is owned by another company you may have that information appear on the LEI record. However, this is not a legal obligation. If you wish to report a legal parent company, please note that you will be requested to provide evidence of this relationship by way of Consolidated Accounts (i.e an annual report).

You may only report parent information if the parent company owns more than 50% of the company and consolidates the accounts with the subsidiary listed there.

4. The final section allows you to upload documentation relevant to your application. When an LEI application is submitted, the data is cross matched with what is on the relevant local companies registry.

If however the company cannot be found, or the data does not match the registry, we may request that you provide supporting documentation. Some good examples include a Certificate of Incumbency, Register of Directors, trade license, or a registry extract. You can find a list of documents accepted for LEI registration here or see the definitive LEI Application Checklist.

Once the LEI application is submitted the LEI request will go for validation, then simply choose your preferred payment method and complete the application. LEI Worldwide use our payments provider STRIPE and PayPal. We also offer the ability to complete a bank transfer or SWIFT payment in any currency. Once the LEI has been issued you may apply for an LEI Certificate, which is similar to an LEI license.

A member of the LEI Worldwide team will review the submission upon completion and you will receive your LEI code within a few hours. Your LEI will the be uploaded and indexed on the official LEI register.

If you have any questions please contact info@lei-worldwide.com

Once you have successfully registered your LEI Code and received confirmation of it via email, you will be required to renew the LEI annually. You will receive automated LEI renewal reminders via email containing a link to renew the LEI, however you can also manually renew an LEI number here.

Download PDF step-by-step guide How to Register a New LEI:

Click to download PDF Guide

Click here or on the image to download your PDF guide which explains how to obtain an LEI for any company or legal entity.

Please feel free to share and distribute this document internally within your organisation or on social media.

If you have any questions please contact us.

support@lei-worldwide.com