Legal Entity Identifier Code

In today’s global financial environment, where transparency, accountability, and traceability are more important than ever, the Legal Entity Identifier (LEI) serves as a vital tool for uniquely identifying legal entities participating in financial transactions across borders. It helps regulators, investors, and financial institutions track and verify entities involved in trading and investment activities, reducing risks such as fraud, market abuse, and financial crises. An LEI is mandatory for companies engaging in various financial markets, including stocks, bonds, derivatives, and foreign exchange. At AxurTax, we simplify the LEI code registration process, offering end-to-end assistance to ensure your business remains compliant with international financial reporting and regulatory requirements. Our team manages everything from document preparation and application submission to renewals and updates, making the entire process quick, efficient, and hassle-free. With our expert guidance, you can secure your LEI code with ease and focus on your core business activities while staying aligned with global financial standards.

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What is an LEI Code?

An LEI (Legal Entity Identifier) is a 20-character alphanumeric code used worldwide to uniquely identify legal entities participating in financial markets. It is part of a global system designed to enhance transparency, reduce fraud, and simplify the monitoring of financial transactions. LEIs are used by regulators, banks, and financial institutions to identify parties in financial transactions accurately.

The LEI code follows a standard format defined by ISO 17442 and contains important information about the legal entity, including its registration details and ownership structure.

Structure of an LEI Code

A Legal Entity Identifier code is made up of the following components:

Characters 1-4: Identify the Local Operating Unit (LOU) that issued the LEI.

Characters 5-6: Always set to '00'.

Characters 7-18: Unique entity identifier.

Characters 19-20: Check digits for verification.

Example LEI Code: 89450027AK4LSOGXGY18

Purpose of LEI Registration

The LEI system was created to bring clarity to financial transactions. It enables regulators and institutions to:

Track financial transactions more effectively.
Identify counterparties in global markets.
Enhance risk management and fraud prevention.
Comply with regulatory frameworks that mandate LEI usage.

Who Needs an LEI Code in India?

LEI registration is required for a wide range of entities involved in financial operations. These include:

Banks and Financial Institutions

Listed Companies and Stock Market Participants

Entities trading in derivatives and forex

Companies involved in high-value transactions (above ₹50 crore via RTGS)

Large borrowers with exposures above ₹5 crore

Entities involved in public securities transactions

Benefits of Obtaining an LEI Code

Improved Market Transparency: Enables accurate identification of legal entities.

Better Risk Management: Assists in assessing and managing counterparty risks.

Streamlined Operations: Simplifies regulatory reporting and business processes.

Fraud Mitigation: Enhances accountability and traceability in financial transactions.

Regulatory Compliance: Mandatory under several Indian and global regulations.

LEI Code Validity and Renewal

An LEI code is valid for one year and must be renewed annually. Non-renewal results in the LEI becoming inactive. Renewal options are available for 1, 3, or 5 years, with reminders issued before expiration to ensure timely compliance.

Documents Required for LEI Registration

To register for an LEI, you need:

Audited Financial Statements

Letter of Authority or Board Resolution

Ownership Documents (for parent or holding companies)

These documents help verify the identity and structure of the registering entity.

LEI Code Levels of Information

LEI registration provides access to two levels of entity information:

Level 1: Entity name, address, registration number, and legal status.

Level 2: Ownership details (direct and ultimate parent entities).

These data points answer key questions such as:

Who is the entity?
Who owns the entity?
What entities does it own?

How to Register for an LEI Code with AxurTax

We simplify LEI registration in just a few steps:

Step 1: Gather the necessary documents based on your entity type.

Step 2: Register through our online portal and enter your company details.

Step 3: Make payment and upload required documents. You will receive a reference number for tracking.

Step 4: We verify your documents and coordinate with the issuing authority.

Step 5: Receive your LEI code and digital certificate via email.

How to Search for an LEI Code

To look up an LEI code:

In India: Visit the Legal Entity Identifier India Ltd. (LEIL) portal.

Globally: Use the Global Legal Entity Identifier Foundation (GLEIF) database.

Both platforms allow users to search by company name, registration number, or LEI.

Secure Your LEI Code with AxurTax

Navigating financial compliance can be complex, but with AxurTax, obtaining your LEI code is effortless. We handle the entire registration process, ensuring your business stays compliant with global financial standards.

Whether you're a financial institution, corporate borrower, or securities issuer, our experts are ready to guide you through LEI registration and renewal with accuracy and speed.

Get in touch with AxurTax today and secure your Legal Entity Identifier hassle-free!