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Legal Entity Identifier Code

Legal Entity Identifier is one of the important documents that is needed at the time of trade in other countries. If you have not applied for LEI Code yet, don’t worry EbizFiling have got your back. Prices start at INR 9999/- only.

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What is a Legal Entity Identifier?

All you need to know about LEI Code in India

The Legal Entity Identifier is a unique 20-character alphanumeric identifier defined by the ISO (International Organization for Standardization). Essential information about the parties to a financial transaction can be quickly referenced with the use of the LEI Code in India. It functions as a worldwide directory that provides much-needed transparency for all parties involved by detailing the ownership structure and the parties’ associated details.

Formation / Structure of Legal Entity Identifier (LEI) code

LEI is a unique number which consist of 20 alphanumeric number, below is the formation of this 20 alphanumeric LEI code.

  • Characters 1-4 (for LEIL–3358), a four-character prefix assigned by the ROC Secretariat and unique to each Local Operating Unit (LOU).
  • 2 reserved characters – 00, 5-6 characters
  • The LOU generates and assigns characters 7-18, 12 to an entity according on transparent and sound allocation principles.
  • Under ISO 17442, characters 19-20 have two check digits.

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Know More on: Legal Entity Identifier Code in India

Why Ebizfiling as your Service Provider for LEI (Legal Entity Identifier)?


EbizFiling.com is a leading business platform and a forward-thinking concept that provides clients in India and worldwide with end-to-end incorporation, advising, management consultancy services, and compliance. EbizFiling will help you for LEI (Legal Entity Identifier) Registration in a simple, rapid, and efficient manner. For more information, call +919643203209 or send an email to info@ebizfiling.com for a free consultation.

Legal Entity Identifier Code Registration Fees in India

ESSENTIAL

9999/-

(All Inclusive)

  • Application for LEI registration for one year

Importance / benefits of Legal Entity Identifier (LEI)

  • LEI helps in building trust at the time of trade with other companies globally.
  • It is a necessary identifier number for enabling cross border transactions.
  • A legal Entity Identifier is a reference related to “who is who” and “who owns whom” in the company.
  • It enhances credibility both globally and locally.
  • It provides transparency with the global market.
  • A Legal Entity Identifier code is mandatory at the time for transactions in the credit derivative market, interest rate, and forex.

Documents required for registration of Legal Entity Identifier Code

Documents required for LEI Code

  • Incorporation certificate
  • PAN card proof
  • General board resolution or General power of attorney
  • Legal letter or Power of Attorney
  • Certificate of Incumbency
  • Any of the documents such as audited account, annual reports, or register documents will be helpful in the registration process

Additional papers that may be required for LEI Code

  • In some situations, Level 2 data may be necessary.
  • You must establish the existence of this link with documentation associated with the consolidated accounts if you are reporting parental information.
  • If you are asking for an LEI on behalf of a customer, employer, or other legal organization, you could be asked to submit a Letter of Authorization signed by the authorized signatory.

How to get LEI Code (Legal Entity Identifier Code) in India?

 

Process for LEI Code in India in 5 Simple Steps

1

Fill in a simple checklist

2

Submit the documents

3

Verification of documents

4

Application for LEI Code

5

Start using your LEI Code

Fill in a Simple Checklist  

EbizfilingA Compliance Manager will contact you to collect your information for Legal Entity Identifier Registration and provide you with a quick checklist. You must complete and submit that checklist together with your documents. Our skilled team will verify your documents and start the application process.

Verification of Documents

EbizfilingOnce our team completes the verification process for your documents, our team will proceed with the application for getting a Legal Entity Identifier (LEI) number / code for your business. Your Compliance Manager will keep you informed about the status of LEI Registration throughout the process.

Legal Entity Identifier Code Application

EbizfilingOnce your application for Legal Entity Identifier (LEI) registration is prepared, we will file the application and you will receive a code once all the requirements are fulfilled. The LEI code will be useful at the time Forex trading, not only that but it is mandatory as per the RBI rules and regulation.

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FAQs on Legal Entity Identifier (LEI) Code

Answers to all your queries

  • Which transactions should have LEI data?

    The remitted and beneficiary LEI information should be included in all single payment transactions of 50 crore or more conducted by entities (non-individuals). This is true for transactions made using the NEFT and RTGS payment systems.

  • Is it necessary to have an LEI for each customer transaction?

    No, an LEI is not necessary for customer transactions in which the sender and recipient are both people. LEI will be required for transactions in which one or both parties are non-individual/s.

  • Who can issue the Legal Entity Identifier code?

    Applications for Legal Entity Identifiers can be submitted to authorized LEI operators. Local Operating Units are the ones who issue LEIs. Official and non-official registration agencies can assist with the application for an LEI code.

  • Why is it necessary to renew LEIs?

    It is required to renew the Legal Entity Identifier in order to ensure that all information about the company associated with the LEI is current. LEI Register lets corporations and organizations to pay for numerous annual renewals to reduce administrative complexity. In this situation, the LEI Register verifies the information at the time of renewal of the LEI for the specified period. Based on official registry data, information updates are carried out.

  • Whether reporting by Banks is also applicable for transfer of funds between FCRA accounts of two or more associations?

    Yes. Reporting by Banks is also applicable to transfer of funds from one FCRA registered Association to another.

  • What if I do not have an LEI or if mine expires?

    Investment service providers require their legal entity customers to have a valid LEI in order to meet their reporting obligations. Investment service providers check for the availability of a valid LEI before conducting any securities transactions.

  • Which countries do you provide your services in?

    Ebizfiling.com provides its services all across India. You can acquire our services in Ahmedabad, Mumbai, Pune, Bangalore, Chennai, Delhi, Kolkata, Kanpur, Nagpur, Jaipur or any other cities easily with us.

  • Still, have confusion?

    Don’t worry!! Our expert will help you to choose a best suitable plan for you. Get in touch with our team to get all your queries resolved. Write to us at info@ebizfiling.com or call us @+91 9643 203 209.

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