14+ Years of Experience
The great explorer of the truth, the master-builder of human happiness no one rejects dislikes avoids pleasure itself because it is pleasure but because know who do not those how to pursue pleasures rationally encounter consequences that are extremely painful desires to obtain.
Read MoreWhat is LEI Registration and Why is It Important?
LEI registration is a process through which a unique 20-character code is assigned to an entity involved in financial transactions. This code helps improve transparency, mitigates financial risk, and ensures compliance with regulatory bodies across the world. It provides key information about the legal entity and serves as a reference in financial markets globally.
Who Needs LEI Registration?
Any legal entity that engages in financial markets, particularly those involved in cross-border transactions, should obtain an LEI. This includes:
Corporations (Public or Private Companies)
Financial Institutions, Banks, and Insurance Companies
Investment Firms
Non-Profit Organizations and Government Agencies
Pension Funds
Enterprises Engaged in Cross-Border Financial Transactions
Even if your company does not deal directly with financial markets, obtaining an LEI registration is beneficial for maintaining high business credibility and ensuring compliance.
How LEI Registration Enhances Transparency and Compliance
An LEI registration ensures that all legal entities engaged in financial markets are identifiable, allowing investors, regulators, and business partners to assess the legitimacy and risk of transactions. This transparency is critical in preventing financial crises, as it enables accurate identification of entities involved in financial dealings.
Global Standardization: LEI registration adheres to the ISO 17442 standard, making it universally recognized.
Regulatory Compliance: Many regulatory bodies, such as the European Union, the US SEC, and the RBI, require businesses to have an LEI for cross-border transactions.
How Long Does It Take to Complete LEI Registration?
Typically, LEI registration takes around 2-5 business days, assuming all required documents are submitted correctly. BizMantra ensures that your application is processed swiftly to avoid any delays.
LEI Registration Renewal Process
Your LEI registration is valid for one year. To ensure uninterrupted financial dealings, you must renew it annually. Follow these steps for LEI code renewal:
Log Into the BizMantra LEI Portal:Select the “Modify and Renewal” option to initiate the renewal process.
Confirm Details: Enter your LEI code, update any company information if necessary, and proceed with the renewal form.
Payment and Document Submission: Complete the payment and upload the required documents.
Confirmation:After successful renewal, you will receive a confirmation email with your renewed LEI code.
