How soon can I expect to receive the LEI code?
When applying for a new LEI, the processing time can vary from minutes to 24 hours, while renewal and transfer applications may require more time.
LEI application processing
Companies listed on the Ministry of Corporate Affairs (MCA) without Parental (Level 2) data can expect a new LEI code to be processed within 1-4 hours if no additional information is required and an authorized individual submits the application.
On the other hand, please note that renewal or transfer applications may take up to 7 days to process once we receive payment and a signed Letter of Authorization.
Renewal applications are prioritized based on the next renewal date for the LEI codes. Clients whose LEIs are about to lapse are processed first.
What factors affect LEI processing?
- Completeness and accuracy of application: Providing all the required information accurately and thoroughly in your application can expedite processing. Incomplete or incorrect information may cause delays, as our team may need to seek clarification or additional documentation.
- Third-party verification: Our process includes verifying the provided information with external sources like company registries (e.g., MCA) or other GLEIF-accredited databases. Delays may occur if there are complications with the third-party websites and the verification process takes longer than expected due to factors beyond our control.
- Payment processing: Any delays in payment processing can lead to a delay in obtaining the LEI. When paying by bank transfer, we typically request your payment confirmation to expedite the process, as bank transfers may take a few days to reach our account.
- Premium service: If you’re registering a new LEI and choose our Premium service, we guarantee that your LEI code application will be prioritized.
- Regulatory changes or updates: Occasionally, changes or updates in regulations may impact the processing time for LEIs. We strive to stay updated with regulatory changes and adjust our processes accordingly, but delays may occur during transition periods.
How to get the LEI faster?
- If you choose the Premium service, we will prioritize your application.
- Have the entity’s legal documents ready if we need them for additional verification.
- An authorized person must apply for LEI codes. Otherwise, a Letter of Authorization will be required.
