What is LEI CODE
What is the LEI code and what is it for
The Legal Entity Identifier (LEI) is an alphanumeric code, consisting of 20 characters, based on the international standard ISO 17442, which makes it possible to uniquely identify legal entities operating in financial markets around the world.
The LEI code refers to some basic information on the applicant legal entity (Level data 1), such as tax code, name, registered office address, legal form.
Furthermore, it also refers to information relating to the applicant's corporate structure, that is “who owns whom” (Level data 2), particularly useful for reconstructing the corporate ramifications.
All these data are published in the LEI database, updated daily and available on the website of the GLEIF (Global Legal Entity Identifier Foundation), a non-profit organization that coordinates the global LEI system worldwide, and can be freely consulted by anyone through the functionality of research.
What is it for
The LEI code enables to identify counterparties in financial transactions subjected to reporting obligations in a simple, fast and standardized way. The LEI code is uniquely associated with only one entity and cannot be transferred from one legal entity to another.
Furthermore, LEI numbers play a critical role in banking, especially in the KYC (Know Your Customer) process by which financial institutions and businesses verify and confirm the identity and reliability of their customers. It helps banks and financial institutions to assess risks associated with financial transactions.
The LEI code is mandatory for legal entities that are involved in financial instruments transactions (such as stock trading, bonds, warrants, government bonds and derivatives). It is not mandatory for individuals even if they participate in financial transactions.
How to obtain an LEI code
Through ID LEI, InfoCamere spreads its expertise and commitment to an international audience, offering its services in the United Kingdom, Germany, Malta, South Africa, Luxembourg, Belgium, Ireland, Austria, Australia, and India. In these countries, applicants can register, renew, and manage LEI codes supported by the ID LEI service.
The LEI code can be quickly and easily requested thanks to ID LEI. The activation request consists of few steps and can be made completely online by:
- filling in the request
- paying by credit card/wallet
If you have activated or renewed an LEI code in the past, you will receive automatic notification by e-mail when the renewal date is approaching.
In this way you will be able to renew your LEI code on time.
Companies House connection
Thanks to the real time connection to Companies House, UK legal entities registered in it can activate and renew their LEI codes using a pre-filled form with up-to-date information.
If your LEI code has been issued by another LEI issuer you can transfer it to ID LEI at any time for free. If you select the Annual Plan, the LEI code lasts one year from the date of issue and each renewal extends its validity by one year.
If you are in a hurry, FastLEI is the ID-LEI right option for you. It guarantees that you obtain the LEI code on the same business day if the request is completed by 3 P.M. After 3 P.M. you will obtain the code by 12 noon on the next business day.
The advantages of choosing the FastLEI service:
- Speedy and fast processing of your request
- Free LEI Certificate
- Safe and reliable process
- Fast protection of your corporate financial operations
Do you want to know everything about an LEI Code?
Search for it among those in the GLEIF database.
If you are looking for yours, you can directly manage, renew or transfer it from here.
Apply for your LEI code now and you are covered for 3 or 5 years
Choose the multi-year-plan to have your LEI always updated without worrying about the expiry! Request now and receive the LEI Code Certificate of your LEI for free every year. With the three- or five-year plan we take care of everything!
DISCOVER MOREGuaranteed service at the price you choose.
Request, Renew or transfer your LEI code online for 1, 3 or 5 years.
Choose the best plan for your business.
Need an LEI number in a hurry online? Receive your LEI code on the same day with the option FastLEI!
REGISTER LEI CODE
RENEW LEI CODE
TRANSFER LEI CODE
NEED AN LEI NUMBER IN A HURRY ONLINE?
Do you need your LEI code today? That is now possible! Enter your request, select the Fast LEI service and complete the request by 3 p.m.: you will receive your code on the same day. If you complete your request after 3 p.m., we will issue your code by 12 noon on the next working day if you use the FastLEI service. Pick ID LEI for your business, at your side to take advantage of every opportunity.
Note: FastLEI is available only in Luxembourg, United Kingdom and Germany.
FAST LEI
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€
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Frequently asked questions.
FastLEI is a prioritisation service that allows the user to obtain the LEI code on the same day (for both renewal or activation), provided the required conditions are met. It costs 50 euros, it guarantees obtaining the code on the same day and the LEI certificate for free.
It depends on when you complete the request. If you complete the request by 3 p.m. (CET), you will get the LEI code by the end of the day. If you complete it later, you will get it by 12 (noon) of the next business day.
You simply need to apply online through an accredited provider like ID LEI. Visit the "Registration" page, follow three easy steps, and submit your request.
The price for the first activation of an LEI code is 69 euros for the annual plan. Three-year and Five-year plans are available (the Certificate is free with multi-year plans). The code can be obtained on the same day if the FastLEI option is activated (additional cost of 50 euros), when requested by 3 p.m.
You can receive the code with Fast LEI, which guarantees the renewal on the same day if requested by 3 p.m.. Otherwise, 1-2 days may pass, depending on the due verifications.
You can register or renew an LEI Code on the ID LEI portal with just a few clicks and without a registered account. After entering the legal entity details and making the payment, simply sign the request summary and submit your request.
The LEI code is valid for 1 year, even if purchased with a multi-year plan. After one year, the data must be validated again by the back office before the automatic renewal, even if the payment has been made in advance.
Renewal can be requested starting 60 days before the expiration of the LEI Code. At the same time, you can choose whether to opt for a One-Year or a Multi-Year Plan. One day after expiration, if not renewed, the LEI Code will expire and will be no longer usable until the next renewal.
The transfer allows an LEI code to be moved from another provider to ID LEI. It is always completely free of charge.
The transfer of codes in "issued" or in "lapsed" status can be requested. The transfer of LEI codes in "retired" status cannot be requested.
The transfer to InfoCamere can be requested only for LEI codes assigned to entities with Italy, Germany, Luxembourg, the United Kingdom, Malta, South Africa, Belgium, Ireland, Austria, Australia, and India as their jurisdiction of formation.
