What is an LEI code?
A Legal Entity Identifier: a 20-character code under ISO 17442 that identifies one company in financial transactions anywhere in the world. It is linked to the legal name, registration number, addresses and parent company, and it is published in the public GLEIF database.
Does my company need an LEI?
Only if it deals with financial markets. You need one to buy or sell bonds, shares, funds or ETFs through a company account, to hedge currency or interest rates with a bank, to issue securities, or when a bank, insurer or investment firm asks for it from you as a supplier. A company that only invoices customers and pays suppliers does not need one.
How much does an LEI code cost?
56.11 EUR for one year, 140.27 EUR for three years and 224.43 EUR for five years, without VAT. Renewal or transfer of an LEI issued elsewhere costs 56.11 EUR for one year.
How long does it take to get an LEI in Latvia?
From 4 hours to about 3 working days after you confirm the data and pay. The issuer checks every record against the Register of Enterprises before it publishes the code.
How long is an LEI valid?
One year from issue or from the last renewal. With a 3 or 5 year term you pay once, and the yearly renewals within that term are already covered.
My LEI was issued by someone else. Can I renew it with you?
Yes. We take over the existing code and renew it for 56.11 EUR for one year. The code itself stays the same, so nothing changes for your bank or broker.
What happens if an LEI lapses?
Its status in GLEIF changes to lapsed, and banks and brokers treat it like a missing code: trades are not executed until it is renewed. A lapsed code can be renewed at any time and keeps the same number.
Is LEI information public?
Yes. The code, the legal name, the registration number, the addresses and the parent company are public in the GLEIF database and free to search. The name of the person who ordered the code is not published.