Legal Entity Identifier (LEI) IndiaLEI Code Application in IndiaIf you are transacting in the global financial system, you will more than likely be required to obtain a Legal Entity Identifier (LEI).
Applying for an LEI number is simple, and can be completed in a matter of minutes regardless of the entity type. Having an LEI is recommended especially in India due to the new regulations from the Reserve Bank of India (RBI). "We are connected to the India Companies Registry, so apply before 6pm (GMT) and receive your LEI confirmation within two hours!" To request invoice for wire transfer of ₹ please email [email protected] We support all company types in India, please just provide GST Certificate/ IEC CertificateCIN/ LLPIN/ GSTN/ IEC Code or similar.
|
The LEI India Registration Application
A Legal Entity Identifier (LEI) is a 20 digit code that is unique to a legal entity and provides basic information about the entity such as name, address and entity type e.g Limited Company. We explore this further in our recent post What is a Legal Entity Identifier?
|
The LEI has been required in India since 2017 in order to improve market transparency and prevent banking frauds. All borrowers from banks within India will require an LEI code. Going forward and all entities trading internationally including those who are responsible for reporting OTC Derivative trading.
It was decided to utilise the global LEI system for both parties reporting in the Over-the-Counter (OTC) markets for Rupee Interest Rate derivatives, foreign currency derivatives and credit derivatives in India. |
Who needs an LEI Code in India?
|
In recent years Dublin has benefitted greatly from foreign investment, and is now a world leading tech and business city with 9/10 of the largest tech companies in the World having their EU headquarters based in Dublin. As an Irish owned company with Headquarters in Dublin, LEI Worldwide thoroughly understand the LEI requirements of companies based in Ireland.
|
|
However, if you are just a Limited Company or Sole Trader in India, you may not need an LEI by law. If you are engaged in cross border activity it is a good idea to have an LEI before you need one as it is quickly being adopted as a global standard.
If you are in financial services you will be required to legally register your entity for an LEI in order to be compliant with local regulations such as Mifid II, EMIR or to fulfil your local reporting obligations. To find out if you fall into this category and require an LEI please see our post discussing Who Needs an LEI? |
|
How to get a Legal Entity Identifier in India
Obtaining an LEI for an Irish company is a simple process. The LEI application form only takes a few minutes and any representative of the company may apply on behalf of the entity.
1. Click on the 'Register New LEI' button here or at the top of this page. To begin, fill out your contact details as the applicant. This information will be used to contact you in case any additional information is required.
|
2. Next, begin filling out the details of the entity which requires an LEI. This will include information such as the address, name of Director or person legally responsible for the entity such as CEO, or Owner.
|
3. The next section 'Level 2 Data' gives you the opportunity to report parent company information.
For example, if your company is a branch of a larger organisation, or is owned by another company you may have that information appear on the LEI record. However, this is not a legal obligation. If you wish to report a legal parent company, please note that you will be requested to provide evidence of this relationship by way of Consolidated Accounts (i.e an annual report).
You may only report parent information if the parent company consolidates the accounts and the subsidiary is listed there.
For example, if your company is a branch of a larger organisation, or is owned by another company you may have that information appear on the LEI record. However, this is not a legal obligation. If you wish to report a legal parent company, please note that you will be requested to provide evidence of this relationship by way of Consolidated Accounts (i.e an annual report).
You may only report parent information if the parent company consolidates the accounts and the subsidiary is listed there.
|
4. The final section allows you to upload documentation relevant to your application. When an LEI application is submitted, the data is cross matched with what is on the relevant local companies registry.
If however the company cannot be found, or the data does not match the registry, we may request that you provide supporting documentation. Some good examples include a Certificate of Incumbency, Register of Directors, or a registry extract.
If however the company cannot be found, or the data does not match the registry, we may request that you provide supporting documentation. Some good examples include a Certificate of Incumbency, Register of Directors, or a registry extract.
Once the application is submitted, simply choose your preferred payment method and complete the application. LEI Worldwide use our payments provider STRIPE and PayPal. We also offer the ability to complete a bank transfer or swift payment in any currency.
A member of the LEI Worldwide team will review the submission upon submission and you will receive your LEI code within a few hours.
If you have any questions please contact [email protected]
A member of the LEI Worldwide team will review the submission upon submission and you will receive your LEI code within a few hours.
If you have any questions please contact [email protected]
To apply for your own LEI or on behalf of a legal entity, please select the option from the buttons below.
