Obtaining an LEI code is 350 EUR

The presence of a legal entity with an international identification code (Legal Entity Identifier or LEI) is a mandatory condition for using an investment account and for placing financial instruments on stock markets abroad, buying/selling foreign securities, providing financial services to clients from other countries and other operations outside of Ukraine.

LEI is a 20-character alphanumeric code that is assigned to legal entities - companies, partnerships and trusts. It is unique for each legal entity.

The LEI code provides access to important reference information that allows you to clearly and accurately identify legal entities involved in financial transactions . In the process of self-registration, a legal entity that wishes to obtain an LEI code must provide its LEI-issuing organization with accurate reference data, that is, publicly available information about legal entities that can be identified with the help of the LEI code. Reference data includes the following information:

1. Basic business information (for example, the legal entity's official name and its registration address ). In the Global LEI system, this information is "Level 1" data. She answers the question "who is who."
2. Information about interdependence , which under certain conditions allows to identify the direct and main parent companies of a legal entity. Such information is "Level 2" data. She answers the question "who rules whom."

The initiators of the creation of the LEI number were the G20 countries, which in 2012 at the summit in Mexico decided to create a Global System for the Identification of Legal Entities (Global LEI System or GLEIS).

Today, this system is divided into three levels:

• Regulatory Oversight Committee (ROC), which generally coordinates the issue of identification of legal entities around the world.
• The Global Legal Entity Identification Foundation (GLEIF) is an international organization that has been operating since 2014. It is this non-profit organization that coordinates the work of a publicly available online resource where you can find verified information about every legal entity that has an LEI code.
• Local operating units (LOUs) are organizations in different countries that have the right to assign LEI numbers to legal entities.

How can a company get an LEI code?

Getting an LEI number is quite simple. For this, it is enough to contact any LOU in any country, not necessarily in the one where the legal entity is registered. At the same time, the deadline for assigning an LEI number and the documents required for this may differ slightly depending on the requirements of each individual LOU.

The LEI number is assigned once. In the future, it will be necessary to renew it annually by paying a special fee. If the legal entity does not pay this fee on time, the LEI temporarily receives the status of overdue, that is, it becomes unavailable for use.

To obtain an LEI code in Ukraine, the following documents and information are required:

• the full name of the legal entity, including the organizational and legal form;
• country of registration;
• tax number;
• legal address, as well as the actual address of the office, if it does not coincide with the first address;
• contact phone number and e-mail address;
• information about the parent structure of the legal entity.

This is not an exhaustive list of what must be provided to obtain an LEI number in Ukraine. Additional documents and information about the legal entity may also be requested.

If there are any changes in the information that was initially provided by the legal entity, it must be promptly reported.

If you want to get an LEI code in Ukraine or if you have any questions, write to us by e-mail: info@instaco.com.ua or call +380731396121. The cost of our services for assigning an LEI number to a legal entity is 350 EUR, the execution time is about three days.