What is a Legal Entity Identifier?

The Legal Entity Identifier (LEI) is a global reference number that uniquely identifies every legal entity or structure that is party to a financial transaction, in any jurisdiction.

The LEI is a 20-character, alpha-numeric code based on the ISO 17442 standard developed by the International Organization for Standardization (ISO).

The LEI 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’.

The LEI data pool can be regarded as a global directory that greatly enhances transparency in the global marketplace.

Who is obliged to request an LEI code?

According to the Mifid II directive 2014/65/EL, LEI codes are mandatory for all legal entities who trade in securities. The Reserve Bank of India has mandated the use of LEIs by all companies trading in OTC markets for Rupee Interest Rate derivatives, foreign currency derivatives and credit derivatives in India. Mandatory use of LEIs was phased in between August 1, 2017 and March 31, 2018, as per the RBI Notification dated June 1, 2017.

How can my organization obtain a Legal Entity Identifier?

The LEI will be assigned on receipt of an application from the legal entity and after due validation of data provided by it.

To proceed with your application for the LEI, please click here:

APPLY FOR LEI CODE

You can also call a Mira Inform representative at 02240448007 / 02240448022 for assistance in completing your application. We will be happy to help!

Why obtain a Legal Entity Identifier? 

1. LEI provides global recognition for your business or organization: 

• LEI is a global identifier that is endorsed by the G20 and the Financial Stability Board (FSB). Regulatory Oversight Committee (ROC) of FSB provides overall framework for LEI and the operational arm of ROC, Global Legal Entity Identifier Foundation (GLEIF), Switzerland manages the global LEI system (GLEIF) through LEI issuing entities, known as Local Operating Units (LOUs).
• It is standardized across countries.
• LEI serves as an essential identifier in cross border (international) transactions.
• LEI confers global credibility on your business, financial institution or organization. You can mention your LEI on your website and stationery and incorporate in QR Codes, Bar Codes, Website Seals etc.
• Small & Medium Enterprises (SMEs) that obtain LEIs can stand out from amongst their peers in the domestic and global marketplace.
• As B2B e-commerce expands, LEI is being increasingly used for better identification of buyers and sellers on online marketplaces.
• LEI also allows you to validate parent-subsidiary relationships
• Issued LEIs can be easily searched on the GLEIF database; either on its web interface or via API
• LEI searches always provide updated results since the LEI has to be renewed annually. LEI renewal requires validation of the latest corporate details of the legal entity. 

Who is eligible for obtaining the Legal Entity Identifier?

Any legal entity that is a party to financial transactions can obtain a LEI.  This entity could be an incorporated entity, partnership firm, proprietorship firm, bank, mutual fund, asset management company, trust, holding company, special purpose vehicle (SPVs) etc.

Fees for obtaining the Legal Entity Identifier : INR 4,250 + 18% GST per entity 

Who manages the LEI System?

 About Global Legal Entity Identifier Foundation

Established by the Financial Stability Board in June 2014, the Global Legal Entity Identifier Foundation (GLEIF) is tasked to support the implementation and use of the Legal Entity Identifier (LEI). The foundation is backed and overseen by the Regulatory Oversight Committee, representing public authorities from around the globe that have come together to jointly driver forward transparency within the global financial markets. GLEIF is a supra-national not-for-profit-organization headquartered in Basel, Switzerland.

GLEIF makes available the Global LEI Index;  i.e. the only global online source that provides open, standardized and high quality legal entity reference data.  By doing so, GLEIF enables people and businesses to make smarter, less costly and more reliable decisions about who to do business with.

About Mira Inform Pvt. Ltd.

Mira Inform is a partner of LEI Register India Private Limited (LEI code 9845003A5176DAA0E442), an Official Registration Agent in the GLEIF. LEI Register India partners with the Local Operating Unit (LOU) Ubisecure Oy (RapidLEI) (LEI code 529900T8BM49AURSDO55).Mira Inform delivers reliable and effective LEI services:

• Validation of Applicant Data: Mira Inform diligently verifies applicant data to ensure its accuracy and completeness before issuing the Legal Entity Identifier to the applicant.
• Marketing LEI Services: Mira Inform actively promotes the importance and benefits of the LEI to prospective legal entities, raising awareness about the significance of obtaining an LEI.
• Seamless Application Assistance: Mira Inform provides comprehensive support to legal entities throughout the LEI application process, facilitating a smooth and efficient experience for applicants.