LEI Code Registration

One global identity for your financial transactions. Legal Entity Identifier (LEI) is a globally recognized code that verifies your company's identity in international financial systems. The code is essential for businesses involved in cross-border transactions, OTC derivatives, and regulatory reporting. We handle everything from preparing documents to liaising with LEIL and timely renewals. Ensure your global credibility with expert-led LEI registration with Kanakkupillai!

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LEI Code Registration in India

The Legal Entity Identifier (LEI) is a unique 20-character alphanumeric code that identifies legally registered entities engaged in financial transactions. It was introduced globally in response to the 2008 financial crisis to improve transparency in financial markets and enhance risk management. The LEI system is governed by the Global Legal Entity Identifier Foundation (GLEIF).

In India, regulatory authorities such as the Reserve Bank of India (RBI) and the Securities and Exchange Board of India (SEBI) have made LEI registration mandatory for a wide range of entities. These include companies involved in large-value payment transactions, participants in capital markets, and businesses engaged in cross-border trade. Entities exceeding specified thresholds under NEFT, RTGS, and derivatives markets are required to obtain and maintain a valid LEI. The LEI serves as a single, consistent identifier across countries of various jurisdictions and helps regulators, financial institutions, and counterparties verify an entity's legal standing. It supports better compliance, reduces the risk of fraud, and strengthens the integrity of financial transactions.

What is LEI (Legal Entity Identifier)?

An LEI is a 20-character alphanumeric code that identifies a legal entity participating in financial transactions globally. During the 2008 financial crisis, the Legal Entity Identifier (LEI) emerged to identify and monitor interconnected legal entities. In 2011, the G20 and the Financial Stability Board (FSB) proposed the LEI as a universal solution to identify legal entities that participate in global financial transactions uniquely. LEI code is structured as per ISO 17442 standard.

Importance of the LEI Code in India

With the growing digitization and regulatory reform, Indian regulators such as RBI (Reserve Bank of India) and SEBI (Securities and Exchange Board of India) have mandated LEI for specific market participants. LIE is essential in India due to:

Regulatory Compliance: RBI has mandated the non-individual borrowers with an aggregate exposure above ₹5 crores to obtain an LEI code.
LEI enables tracking financial transactions to facilitate better risk assessment.
LEI is an internationally accepted identifier, and this enhances the credibility of Indian entities in global markets, facilitating cross-border transactions.
Exporters and importers using LEI during customs clearance through ICEGATE get the benefit of quicker and smoother processes.
LEI helps in preventing money laundering and fraud.

Regulatory Framework for LEI in India

1. Reserve Bank of India (RBI) Guidelines:

2017: The RBI introduced the LEI system for participants in over-the-counter (OTC) derivative markets, requiring entities to obtain an LEI.
2018: The mandate was extended to large corporate borrowers with aggregate fund-based and non-fund-based exposure of ₹5 crore and above.
2021: LEI became compulsory for all payment transactions of ₹50 crore and above undertaken by entities (non-individuals) using the NEFT and RTGS payment systems.

2. Securities and Exchange Board of India (SEBI) Circulars:

SEBI has incorporated LEI requirements for various market participants, including:
Alternative Investment Funds (AIFs)
Mutual Funds
Foreign Portfolio Investors (FPIs
Entities issuing debt instruments
These measures aim to enhance transparency and monitoring in the securities market.

3. The Insurance Regulatory and Development Authority of India (IRDAI) has aligned with LEI norms to strengthen the monitoring of large transactions and verify the authenticity of entities within the insurance sector.

4. The Pension Fund Regulatory and Development Authority (PFRDA) is considering implementing LEI to enhance transparency and risk management in the pension sector.

5. Under the Indian Customs Electronic Gateway (ICEGATE), the DGFT has initiated the use of LEI for exporters and importers to improve Know Your Customer (KYC) processes and trade transparency.

Who Issues the LEI Code in India?

The LEI Code was issued by the Global Legal Entity Identifier Foundation (GLEIF) and Indi in June 2014. The GLEIF is a non-profit organization established by the Financial Stability Board (FSB) and backed by the G20 nations. The GLEIF does not issue LEIs directly. Instead, it accredits Local Operating Units (LOUs), which are organisations authorised to issue LEIs in specific countries. In India, Legal Entity Identifiers are issued by LOUs that are approved by GLEIF and recognised by the RBI. The Registration Agents operating in India facilitate the LEI registration process. MNS Credit acts as a Validation Agent for LEIL that aids entities in the LEI registration process.

Who Needs LEI Code in India?

Not every individual or entity is mandated to get an LEI. RBI has mandated the following to obtain an LEI Code:

Corporates and firms dealing in foreign exchange or derivatives
Participants in over-the-counter (OTC) markets
Listed companies and entities regulated by SEBI
Entities borrowing above ₹50 crores through RTGS and NEFT
Importers and exporters linked with ICEGATE
Non-individual borrowers with a total fund-based and non-fund-based exposure of ₹5 crores and above
Entities that are entering into financial market transactions like debt issuance, mutual fund transactions, etc.

Who is Not Required to Obtain an LEI Code in India?

The following are exempted from obtaining LEI Registration in India:

Natural persons are not required to obtain an LEI to participate in financial markets.
LEI is not required for transactions where both the remitter and beneficiary are individuals.
Central and State Government Departments/Ministries are exempted from obtaining an LEI for payment transactions conducted via NEFT and RTGS.

What Documents Will You Need to Obtain the LEI Code?

The following documents are typically needed for LEI registration:

PAN Card of the entity
Certificate of Incorporation / Registration
Memorandum & Articles of Association / LLP Deed
Authorised Signatory Letter
GST certificate (optional but preferred)
Board resolution (in case of corporate entities)
Audited financials or ownership details
Declaration of Ultimate Parent / Direct Parent
Authorised signatory's ID proof (Aadhaar/PAN)

How to Get LEI Code Online?

Step 1: Choose the Recognized LEI Issuing Authority

The RBI has recognized Legal Entity Identifier India Ltd. (LEIL), a wholly-owned subsidiary of Clearing Corporation of India Ltd. (CCIL), as the authorized Local Operating Unit (LOU) for issuing LEIs.

Step 2: Account Creation:

Create an account at https://www.ccilindia-lei.co.in and start a new LEI application. Fill out the necessary information and upload the documents in PDF or scanned format as per the portal's guidelines.

Step 3: Make the payment

Fees may vary slightly depending on the LOU.

Step 4: Application Review

Once you apply, the LEIl team will review the application and verify the documents submitted and cross-check the details against:

MCA 21 (Ministry of Corporate Affairs)
Income Tax PAN database
Global LEI System database (GLEIF)

Step 5: Issuance of LEI Code

Once everything is verified, you will be assigned a 20-digit LEI Code, which will later be uploaded to the GLEIF Global LEI Index. It can be viewed publicly with your entity’s detail.

LEI Code Validity Period

An LEI code is valid for one year from the date of issuance. It must be renewed annually. If not renewed, it becomes inactive or “Lapsed”, which can lead to regulatory non-compliance.

LEI Renewal in India

LEI codes expire after 12 months from the date of issuance. Renewal is critical to maintaining validity. If your LEI lapses:

You may not be allowed to process financial transactions.
You may face non-compliance under RBI/SEBI guidelines.

To renew your LEI:

Visit your issuing LOU portal.
Log in and select your existing LEI.
Select "Renew LEI"
Update any changes in entity information.
Upload updated documents if the portal asks,
Pay the renewal fee.

LEI Vs Other Identifiers (PAN, CIN, GSTIN)

India has multiple identifiers, such as PAN, CIN, and GSTIN. They serve different purposes.

Identifier	Purpose	Jurisdiction	Mandatory for
PAN	Taxation	India only	All taxpayers
CIN	Company ID	MCA, India	Registered companies
GSTIN	Indirect Tax	India only	Taxable entities
LEI	Financial identity	Globa	Financial market participants

Common Challenges in LEI Registration

Many small and medium-sized enterprises (SMEs) are not fully informed about the LEI system and its regulatory requirements.
Providing incorrect or incomplete information, such as mismatched legal entity names or outdated addresses, can result in application rejections or delays.
No clear ultimate parent or subsidiary information
Payment or system errors
Adding outdated information

Why Choose Kanakkupillai for LEI Registration?

Kankakkupillai is your go-to partner for LEI Registration. We offer timely support and guarantee a smooth and correct registration process. Our professionals streamline the registration procedure, saving you time and effort. We provide:

Personalized Approach: At Kanakkupillai, we understand that every entity is different and that every entity’s financial situation is unique. That's why we offer customised solutions for all. Our professionals will walk you through the registration process step by step. Our goal is to make registration as stress-free as possible while ensuring that you take advantage of all the advantages.
Expertise and Experience: Kanakkupillai's years of Registration experience with different organizations give you unparalleled knowledge. Our personnel are knowledgeable about the intricacies of LEI Registration, which is why we provide trustworthy guidance and support.
Hassle-Free Process: We aim to simplify the LEI Registration process. Our team makes sure that the paperwork, calculations, and document submissions are handled professionally.
Transparent Pricing: At Kanakkupillai, we offer cost-effective and transparent pricing for our LEI Registration services. There are no hidden fees, and we ensure complete clarity on the costs involved.

Frequently Asked Questions

My company is not into stock markets or derivatives. Do I still need an LEI? +

No, but if you are sending or receiving payments over ₹50 crores or doing exports/imports through ICEGATE, then yes. The requirement depends more on the nature and size of your transactions than your industry.

I already have PAN, GSTIN, and a CIN. Why do I need this extra code? +

Those are domestic identifiers. LEI is global. If your business touches cross-border trade, investment, or finance, LEI helps others verify your identity without confusion.

What happens if my LEI code expires and I don’t renew it? +

It becomes “lapsed,” which can lead to serious issues like failed payments, blocked trades, or compliance problems.

How long does it take to get an LEI in India? +

Usually around 2–5 working days, if your documents are correct. But if there are mismatches in your company name, PAN, or registration details, expect delays.

Can I use my LEI in other countries too? +

Yes, you can LEI in other countries. The purpose of the LEI is to give your business a verified global identity. It works anywhere the financial system recognizes LEI, which includes most developed and developing markets.

Is LEI the same as Udyam Registration? +

Udyam allows Indian MSMEs to access schemes and benefits. LEI is used for identification in financial transactions, both in India and globally.

Who issues the LEI code in India? +

Legal Entity Identifier India Ltd. (LEIL), under RBI oversight. It is linked to the Global LEI Foundation (GLEIF), which manages the worldwide database. Think of LEIL as the Indian branch of a global system.

Can one company hold multiple LEIs? +

No. One legal entity can hold only one LEI. However, if your business has separate subsidiaries or group entities, each entity/group has to obtain a separate LEI Code.