How much does an LEI number cost?
The Global LEI System (GLEIS) has been set up so that LEI costs can differ among various service providers. Obtaining an LEI number can cost between $65 and $200, depending on who you register with. Since the number needs to be updated yearly, the costs will increase. For this reason, we encourage you to pay close attention to the price and take it as the primary factor when registering an LEI number.
LEI number costs can vary
The Global Legal Entity Identifier Foundation (GLEIF), a not-for-profit organization, controls the issuance of Legal Entity Identifiers (LEIs). The foundation doesn’t issue LEI numbers but leaves them to a network of public and private companies acting as Local Operating Units (LOUs). LOUs may serve customers directly or choose to cooperate with Registration Agents.
That is why you’ll see that the LEI number cost varies between different service providers. There are no better functioning or upscale LEI numbers. The GLEIS was created to reduce risk exposure and empower opposite parties in contracts or financial transactions. The organization’s charging structure determines LEI prices and has nothing to do with the value of the LEI number itself. The code is simply a tool that enables you to identify active legal entities in the financial market quickly.
Currently, GLEIF surcharges LOUs 11 USD per application for one year. It’s important to note that not all Registration Agents include that fee in the initial price, and it might appear to be an additional cost during checkout. The same goes for VAT-s. 0% VAT is applicable if the company has a valid EU VAT number.
LEI Register is one of the biggest and most inexpensive LEI Registration Agents worldwide. LEI Register’s LEI price consists of the initial registration cost for the chosen period and the GLEIF fee. We process your VAT number against the VIES (VAT Information Exchange System) database, and once it is authenticated, no VAT will be added.
Multiyear LEI registrations
To ensure that the LEI number database is relevant and up-to-date, you must renew your LEI number annually. Once the deadline passes, your LEI will become inactive until renewed. To make matters easier, LEI Register has developed multiyear renewals. So, in addition to one-year registration, you can select a three- or five-year period.
This will be more cost-efficient, and we’ll seamlessly renew the data on your LEI number using an official company registry.
Key takeaways
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- The individual organization determines the LEI number cost, which is why it tends to vary across different providers.
- LEI Register has grown into one of the biggest Registration Agents in the world by keeping prices low while offering the fastest and most seamless registration process.
- LEI numbers need to be updated annually, and once the deadline passes, the entity won’t be able to participate in the financial markets.
- To help you avoid trouble, LEI Register has created a multiyear registration model that will renew your LEI data for the selected period. Not only will it save you time, but it will also be more cost-efficient!
