The LEI code is an internationally recognized standard for identification of legal entities. Once LEI application is approved, the Legal entity is issued an LEI code that is a 20-digit code based on ISO 17442-1:2020. As an ISO standard, it enables unique, global identification of entities, and it is persistent, meaning the entity remains tagged by the LEI code even when it ceases operations. Each LEI code contains information about an entity’s ownership structure and thus answers the questions of 'who is who’ and ‘who owns whom’. Simply put, the publicly available LEI data pool can be regarded as a global directory, which greatly enhances transparency in the global marketplace.

The Legal Entity Identifier (LEI) enables a smarter, less costly and more reliable way to make decisions about who to do business with. Importantly, it is relevant across a wide range of business use cases, spanning multiple industries, business activities and functions. LEI record transparency enables users to check information for all issued LEIs, such as: Source: IDC, based on information provided by GLEIF, 2023 Entity creation date Last data validation date Last update of LEI Entity operating status Next scheduled revalidation date LEI issuer Corroboration level. As a globally recognized identifier, the LEI enables clear and unique identification of legal entities participating in any transactions, including financial and digital exchanges, by connecting to key reference information made publicly accessible on GLEIF’s website.

1. Applying for LEI registration is a simple process.
2. Fill in LEI application form. This requires to fill basic details about the Legal Entity like Name, Address, Contact,.
3. Attach the mandatory supporting documents as per the above table
4. Select the validity period and pay with Netbanking, Bank transfer, Credit card or Razorpay.
5. Your data will be validated with Local Government Authorities like MCA, GST, etc, The LEI code is entered into the global LEI database.
6. Once the data is successfully validated, the legal entity identifier (LEI certificate) sent to you by e-mail.

Who needs to obtain LEI registration in India? The Reserve Bank of India has mandated the phase-wise implementation of the LEI system for borrowers of banks and FIs in India greater than 5 crores. Entities without an LEI code is not to be granted renewal / enhancement of credit facilities. Any legal entity that participates in financial transactions, such as banks, insurance companies, and non-banking financial companies, is required to obtain an LEI. The Reserve Bank of India (RBI) has made it mandatory for all entities under its regulatory purview to obtain an LEI. Similarly, the Securities and Exchange Board of India (SEBI) has also made it mandatory for all entities that are listed on a stock exchange or are part of the depository system to obtain an LEI. Additionally, any legal entity that is a counterparty to a financial transaction, such as buying or selling securities, is also required to obtain an LEI. This includes entities that are involved in derivatives trading, commodity trading, and foreign exchange trading, among other types of transactions. Furthermore, it is required for an issuer, guarantor, borrower or security providers of a security that is being issued to the public, listed on a stock exchange, or included in the depository system.

We offer simple and transparent pricing for LEI registration, the lowest prices in the Country. LEI registration prices can differ among various service providers. However, it has nothing to do with the quality of LEI code. Therefore, it is best to pay attention to the LEI price as the primary factor when filing application for LEI registration. LEI code will be issued after successful validation of data from Local registration authorities like MCA, GST, etc. LEI Register’s LEI price consists of the initial registration cost for the chosen period and the GLEIF fee. Currently GLEIF surcharge is 11 USD per application for 1 year. Prices shown are without GST. 18% GST applies under the GST regulations. The customers only pay for fresh LEI registration for or LEI renewal. Updating data, transferring the LEI code or other activities related to the code are all free of charge for our customers. NO HIDDEN FEES! ALL FEES ARE INCLUDED IN OUR LEI PRICE GST WILL BE ADDED.

One of the key benefits of the Legal Entity Identifier is the annual renewal and verification of the data, ensuring trustworthy high quality data. The quality of this data means that firms can rely on it to reduce counterparty risk and improve their operational efficiencies. Therefore, LEI renewal is highly important. Legal Entity Identifiers (LEI) which are not renewed in time will lapse. If the status of LEI has lapsed in the GLEIF database, it reflects on your corporate branding and may prevent you from successfully completing a transaction or reporting in the future.

LEI renewal is a fairly similar process and is essentially identical to the LEI registration. The customer needs to fill out the form, either by entering company name or the LEI number to the LEI renewal form. Then, the company data is automatically added to the appropriate form fields. It is important to update all the information that has changed from the initial LEI registration (such as company phone number address etc.).

The renewal of an LEI is a rather quick process on its own, but when it comes to changing the LEI service providers (known as the LEI transfer) then it could take a few days (up to 7 days) for the transfer to be completed.

LEI transfer is the movement of the LEI code from one service provider to another. The LEI is transferrable to ensure the client has a choice between the service providers. If the client is not happy with the fees, service or data quality it can move the LEI to another LEI issuer (LOU). In the process of transfer the LEI number does not change. It is a back-end process which is not visible to end customers. All the LEI codes are valid in every jurisdictions. Investment service providers can not differentiate the LEI numbers according to the LOU. Bharat LEI Register has a special form for LEI transfer and always notifies clients when they decide to renew an LEI when their current LEI is managed by a different LOU.

The validity of the LEI code can be verified on the Bharat LEI Register homepage by using the search. Our database is connected to the GLEIF base LEI codes can be also verified on the website of the GLEIF (Global body maintaining database for LEI code). Bharat LEI Register offers an LEI search function where it is possible to check the LEI’s validity and view associated company’s data, such as LEI registration details, company address etc. You can read more about LEI entity search from our blog. LEI data gives interested parties the right idea about a company in terms of legal sanctions and authenticity. Authenticity and credibility are easily two of the most crucial parameters that drive financial investment. Another great resource for finding out more about legal entity identifiers is the LEI Lookup website. LEI Lookup is a fully dedicated legal entity identifier Search website that offers access not only to a comprehensive LEI numbers database, but also an opportunity to register, renew and transfer LEI numbers.

The LEI is an internationally recognized standard for identification of legal entities. Once LEI application is approved, the Legal entity is issued an LEI that is a 20-digit code based on ISO 17442-1:2020. As an ISO standard, it enables unique, global identification of entities, and it is persistent, meaning the entity remains tagged by the LEI even when it ceases operations. All LEIs are part of a global register, the LEI Index, which anyone can access free of charge and at all hours. The LEI index enables anyone to access the LEI and the associated reference data including links to local business registration or other selected international identifiers such as the S&P Global Company ID, BIC, or ISIN. The LEI offers data about “who is who” and “who owns whom.” It connects to key reference information that enables clear and unique identification of legal entities participating in financial transactions. Each LEI contains information about an entity’s ownership structure and thus answers the questions of 'who is who’ and ‘who owns whom’. Simply put, the publicly available LEI data pool can be regarded as a global directory, which greatly enhances transparency in the global marketplace.

In 2011, the Group of Twenty called on the Financial Stability Board (FSB) to provide recommendations for a global Legal Entity Identifier (LEI) and a supporting governance structure. This led to the development of the Global LEI System which, through the issuance of LEIs, now provides unique identification of legal entities participating in financial transactions across the globe. The FSB emphasized that global adoption of the LEI underpins multiple “financial stability objectives” and also offers “many benefits to the private sector”.

The Global Legal Entity Identifier (LEI) System is an initiative of regulatory authorities throughout the world, working with the private sector, to unambiguously identify legal entities engaged in financial transactions through the issuance of unique LEIs. The Global LEI System is composed of three tiers: Regulatory Oversight Committee: A group of public authorities from around the globe established in January 2013 to coordinate and oversee a worldwide framework of legal entity identification, the Global LEI System. Global LEI Foundation (GLEIF): Founded by the Financial Stability Board in June 2014, GLEIF is a not-for-profit organization created to support the implementation and use of the LEI. GLEIF services ensure the operational integrity of the Global LEI System. LEI issuing organizations: LEI issuers – also referred to as Local Operating Units – supply registration, renewal and other services, and act as the primary interface for legal entities wishing to obtain an LEI.

The Legal Entity Identifier (LEI) connects to key reference information that enables clear and unique identification of legal entities participating in financial transactions. Simply put, the publicly available LEI data pool can be regarded as a global directory, which greatly enhances transparency in the global marketplace. The publicly available LEI data pool is a unique key to standardized information on legal entities globally. The data is registered and regularly verified according to protocols and procedures established by the Regulatory Oversight Committee (ROC). In the GLEIF blog post, entitled ‘The Global LEI System: A Look Back and a Look Ahead’ the former ROC Chair Matthew Reed recalled that the Global LEI System is designed to ultimately “answer three basic questions: Who is who? Who owns whom? And who owns what?” The information available with the legal entity reference data to date is referred to as ‘Level 1’ data. It provides the answer to the question of ‘who is who’. On 10 March 2016 the ROC published a document, entitled ‘Collecting data on direct and ultimate parents of legal entities in the Global LEI System – Phase 1’. The paper sets forth the policy design of a process for collecting ‘Level 2’ data, to complement the existing ‘Level 1’ legal entity reference data. It describes the process of enhancing the reference data to include the ‘Level 2’ data that will answer the question of ‘who owns whom’. More information on the process for collecting data on direct and ultimate parents of legal entities is available here.

Legal entity identifier (LEI) is mandatory for transactions in interest rate, forex and credit derivative market. The Reserve Bank of India (RBI) has also made LEI compulsory for companies and organizations having aggregate fund-based and non-fund-based exposure of credit over RS 50 crore.

The LEI enables clear and unique identification of legal entities participating in any transaction globally. It does this by connecting to an entity’s key reference information, which GLEIF makes publicly accessible via its website. The LEI facilitates surveillance activities like Know-Your-Customer (KYC) and Anti-Money Laundering (AML) processes. It is widely mandated and used to ensure counterparty transparency across many sectors, including financial services, supply chain, trade finance and payments.

LEI issuers – also referred to as Local Operating Units (LOUs) – supply registration, renewal and other services, and act as the primary interface for legal entities wishing to obtain an LEI. Only organizations duly accredited by the Global Legal Entity Identifier Foundation (GLEIF) are authorized to issue LEIs. Accreditation is the process by which GLEIF evaluates the suitability of organizations seeking to operate within the Global LEI System as LEI issuers. Purpose of LEI The LEI certificate enables cross-border payment transactions to become faster, cheaper, more transparent, and more inclusive. When the LEI is added as a data attribute in payment messages, any originator or beneficiary legal entity can be precisely, instantly, and automatically identified across borders. As payment market infrastructures across the world move to support instant payments, the ability to verify and validate the originator and beneficiary of a transaction in near real-time is a foundational requirement in order to enable consumers, businesses, and financial institutions to verify that funds are transferred across international borders to the correct entity. LEI record transparency enables users to check information for all issued LEIs, such as: Source: IDC, based on information provided by GLEIF, 2023.

1. Entity creation date
2. Last data validation date
3. Last update of LEI
4. Entity operating status
5. Next scheduled revalidation date
6. LEI issuer
7. Corroboration level

Organizations can easily apply for an LEI by self-registering at one of the 39 accredited LEI issuers worldwide, serving 226 jurisdictions. The LEI issuers check the submitted data with local authorities and issue the LEI for a small fee. An annual renewal requirement ensures high quality of data. Organizations can become a Registration or Validation Agent, which expands the LEI issuer network. They can help their clients obtain LEIs and thereby streamline their LEI issuance. The organization operating the LEI Index, the Global Legal Entity Identifier Foundation (GLEIF), is a supranational non-profit organization based in Switzerland and founded by the Financial Stability Board (FSB), driven by the leaders of the G20 after the financial crisis in 2008. GLEIF is overseen by the Regulatory Oversight Committee (ROC) of more than 65 financial market regulators and public authorities as well as 19 observers from more than 50 countries. In the turbulent aftermath of the financial crisis, when trust in financial institutions was shattered, GLEIF emerged as the guardian of a system designed to regulate an unparalleled identifier (LEI), ensuring accurate and reliable identification of parties involved in transactions. As GLEIF celebrates its tenth anniversary, outgoing CEO, Stephan Wolf, reflects on the journey towards one global identity behind every business and the transformative opportunities that lie ahead.