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Transferring an LEI code is free. LEI transfer is the movement of an LEI code from one LEI manager to another. LEI codes can be transferred to provide clients a choice between service providers. The transfer is a back-end process which does not change the LEI code. The LEI code is universal and globally valid.
If your LEI needs renewing you can transfer and renew your LEI at the same time. You will only need to pay the renewal fee. If you order the LEI renewal for multiple years, you will get the digital LEI certificate for free for the chosen renewal period. Our renewal prices are among the lowest on the market. You can consult the LEI renewal prices
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Please note that the hardcopy of the certificate costs extra: ₹499 +18% GST = ₹588.82
Start dematerializing your company’s shares and securities
₹4990 for initial setup
1
Submit your initial company details in the form
2
Provide necessary documents for review
3
Your details will be processed by RTAs & Depositories
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Who does this requirement apply to?
As of 27 October 2023, the Ministry of Corporate Affairs, Government of India, has required private limited companies to issue their securities in dematerialized form by 30 September 2024.
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Private limited companies
- (except small companies*) incorporated in India.
A subsidiary of a body corporate is not considered a small company. -
Shareholders and debenture holders
- of private limited companies.
* Please note: A small company has paid-up capital of INR 4 crore or less and a turnover not exceeding INR 40 crore in the previous financial year.
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More important information
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Dematerialization is the conversion of physical securities into electronic format, maintained by government-authorized depositories in India. Securities include shares, scrips, stocks, bonds, debentures, and similar marketable instruments.
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For a private limited company that is a subsidiary of a foreign company:
- Secure an International Security Identification Number (ISIN) for each type of security.
- Ensure all shares are converted within the legal timelines.
- Open a demat account with an authorized depository within the legal timelines.
- Convert existing securities into dematerialized form within the legal timelines.
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The 2024 mandate for dematerializing securities and shares in India involves multiple parties and costs, including setup fees, RTAs & Depositories charges, and transaction fees.
- Initial setup fee: There is a charge for the initial setup or activation, which can vary depending on the service provider. LEI Register charges INR 4990
- RTAs & Depositories fees: Additional charges by Registrars and Transfer Agents (RTAs) and Depositories for processing and maintaining the dematerialized securities. These fees are not included in the initial setup fee and are charged separately.
- Annual maintenance charges: Annual fees charged by depository participants for maintaining the demat account. These fees can vary based on the depository participant and the volume of holdings.
- Transaction fees: Fees for each transaction carried out in the demat account, such as transfers of shares or other securities.
- Dematerialization request charges: Fees for processing the request to convert physical securities into electronic form.
- Courier/postal charges: Costs associated with sending physical certificates to the depository participant for dematerialization.
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The due date is 18 months from the end of the financial year ending on or after 31 March 2023. For companies with a financial year ending on 31 March 2023 (standard financial year), the due date is 30 September 2024. For companies with a financial year from January to December, using 31 December 2023 as the end date, the due date is 30 June 2025.
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If the company or security holders do not comply with the requirement to dematerialize their securities by 30 September 2024, the following consequences will apply:
- The company will not be able to issue or allot any type of securities.
- The security holder will not be able to transfer or subscribe to any type of security.
- Monetary penalties:
- On the company: INR 10,000 plus INR 1,000 for each day the violation continues, up to a maximum of INR 200,000.
- On every officer in default: INR 10,000 plus INR 1,000 for each day the violation continues, up to a maximum of INR 50,000.
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The Registrar of Companies (ROC) can easily monitor electronic data, making non-compliances quickly detectable and sanctionable. Sanctions consume effort and management time beyond the penalties.
Setting up a demat account takes time and depends on depository cooperation. Issuing or transferring shares might become necessary unexpectedly. It´s advisable to establish the structure now to avoid delays when urgent action is required.
What is dematerialization of securities?
What needs to be done?
What costs are involved in the process?
What is the deadline of compliance?
What are the consequences of non-compliance?
No share transfer or new issue is planned, why act now?
Why choose LEI Register?
We offer fast, reliable, and secure services for your business needs. Our technology-driven approach simplifies data processing and ensures a streamlined experience.
Join our vast network of clients who trust our expertise.
Rahul Jha
CEO of LEI Register India
"Simplifying complex processes is our mission. We are committed to making our services fast, accessible, and easy to understand for everyone."