How to Transfer an LEI
What is an LEI transfer?
An LEI Transfer is the procedure of moving an LEI from one service provider to another. This allows you to choose which service provider you want to use based on service quality, fee level, or other valuable factors. If another service provider manages your LEI or is not managed by Ubisecure RapidLEI, you can transfer it to RapidLEI management and LEIpapa for free. You will receive confirmation of renewal via email.
After payment, you will be required to confirm Legal Entity Reference Data (LE-RD), and then either directly eSign, or delegate eSigning of our Terms of Service.
How to Transfer an LEI to LEIpapa
First of all, an LEI must already exist and have a GLEIF Status of ISSUED, LAPSED, or rarely RETIRED. If the LEI to be transferred is currently RETIRED or MERGED then comments on why the LEI should be transferred are added during the transfer process, e.g. “To ensure all LEI data for all group companies, including historical companies, is maintained by RapidLEI and LEIpapa”
Step 1: Login to the app
Log into your LEIpapa account, or create an account if you are not already a LEIpapa account holder.
Step 2: Go to Transfer section
Navigate to the Transfer section.
Step 3: Select Country and Entity Type
Choose the relevant Country and the Entity Type from drop-down lists.
Step 4: Find your LEI
Enter the LEI code or Name of the Legal Entity you wish to transfer and press the Search button.
Step 5: Select your Entity
Select your Legal Entity from the list and proceed with the Transfer.
Step 6: Fill the data
Fill in all the required data and upload documents to help us process your application more efficiently.
Transfer scenarios
There are two different scenarios of LEI Transfer currently supported by LEIpapa:
- Transfer
- Transfer
- RA-to-RA Transfer
- RA-to-RA Transfer
This flow is used when your LOU is currently RapidLEI but you want to transfer an LEI from your existing RA (Registration Agent) to LEIpapa.
Communication
Once you submitted the transfer request and attached the LOA, the LOA contacts your current Registration Agent, sharing the LOA and your transfer request.Approval/Rejection Timeframes
- Within 60-day renewal window: 4 working days.
- LEI lapsed or due to lapse within 7 days: 4 working days (LOU will mark this as urgent).
- Outside 60-day renewal window: 7 working days.
Contact Verification
Your current Registration Agent contacts you within the specified timeframe to verify the transfer request and informs you if the LEI has a multi-year element.Decision Notification
Once confirmed, your current Registration Agent informs LOU of your decision.Important notes
- If no decision is made within the timeframes, the LOU will proceed with transferring the LEI to LEIpapa. The LOU will not transfer any multi-year element to LEIpapa.
- If the LEI is not renewed, the next renewal date on the GLEIS remains the same, but you lose any previously purchased multi-year element.
- If the LEI is renewed, the next renewal date on the GLEIS remains the same, and you lose any previously purchased multi-year element.
- Renewal charges will apply.
The relevant scenario will be chosen by the system automatically during the LEI Transfer process, so there is no additional actions are needed from your side.
Documents to upload
-
Signing Authority is used to highlight who has Signing Authority for the application. If you have authority, you don’t need to tell us, as the account name will suffice, but if you don’t please confirm who gave you permission.
-
Evidence of Authority (EoA) is generally used for Entity Supplied Only LEIs such as Funds/Trusts/Wills/Pensions and usually takes the form of a copy of the deeds. However, in some cases even for a Legal Entity, the Business Registry does not publicly highlight the name of a signing authority, so we would need a copy of the Articles of Incorporation or a copy of the Memorandum of Understanding to highlight who is able to sign.
-
Letter of Authorization (LoA) is used to give permission for the LEI transfer procedure. If you don’t have an LoA to upload now, don’t worry; you can send us LoA by emailing Email to LEIpapa Support after placing the order. The LoA templates will be available for you after placing the order or you can download LoA templates here right away.