How much does an LEI number cost?
The Global LEI System (GLEIS) has been set up so that LEI costs can differ among various service providers. Obtaining an LEI code can cost anywhere between ₹3990 to ₹16 500, depending on who you’re registering with. Since the number needs to be updated yearly, the costs will increase. For this reason, we encourage you to pay close attention to the price and take it as the primary factor when registering an LEI code.
LEI number costs can vary
The Global Legal Entity Identifier Foundation (GLEIF), a not-for-profit organization, controls the issuance of Legal Entity Identifiers (LEIs). The foundation doesn’t issue LEI codes itself but leaves it to a network of public and private companies acting as Local Operating Units (LOUs). LOUs may serve customers directly or choose to cooperate with Registration Agents.
That is why you’ll see that the LEI code cost varies between different service providers. There are no better functioning or upscale LEI codes. The GLEIS was created to reduce risk exposure and empower opposite parties in contracts or financial transactions. LEI prices are determined by the organization’s charging structure and have nothing to do with the value of the LEI code itself. The code is simply a tool that enables you to easily identify legal entities that are active in the financial market.
GLEIF surcharges LOUs 11 USD (₹911) per application for one year. It’s important to note that not all registration agents include that fee in the initial price, and it might appear to be an additional cost during check-out. The same goes for GST.
LEI Register is one of the biggest and most inexpensive LEI Registration Agents worldwide. LEI Register’s LEI price consists of the initial registration cost for the chosen period and the GLEIF fee. However, GST will be added in check-out.
Multiyear LEI registrations
To ensure that the LEI code database is relevant and up to date, you must renew your LEI number annually. Once the deadline passes, your LEI will become inactive until renewed. To make matters easier, LEI Register has developed multiyear renewals. So, in addition to one-year registration, you’ll be able to select a three- or five-year period.
Not only will this be more cost-efficient, but we’ll take on the responsibility to renew the data of your LEI number seamlessly, using an official company registry.
Key Takeaways
- The individual organization determines the LEI number cost, which is why it tends to vary across different providers.
- LEI Register has grown into one of the biggest Registration Agents in the world by keeping prices low while offering the fastest and most seamless registration process
- LEI codes need to be updated annually, and once the deadline passes, the entity won’t be able to participate in the financial markets
- To help you avoid trouble, LEI Register has created a multiyear registration model that will renew your LEI data for the selected period. This will not only save you time but also be more cost-efficient!
