Who can apply for an LEI?

Who can apply for an LEI?

In short, an LEI (Legal Entity Identifier) code can be issued for a variety of Legal Entities having a distinct identity within a business register, with the ACTIVE status (entities that haven't been struck off, merged, withdrawn or de-registered).

A Legal Entity Identifier code may be issued for any of the following Entities (let’s call them “Legal Entities” for this article):

  • Incorporated Companies* and Registered Subsidiaries*;
  • Non-Profits (Registered Organizations);
  • Sole Proprietors (Having a distinct identity within a business register);
  • International Branch offices (The Head Office must already have an LEI)**;
  • Funds and Trusts.

*Typically, a Business Registry awards a “Good Standing” status to any business that keeps its registry data accurate and fulfills all annual filing prerequisites.

**A subsidiary office situated in a different jurisdiction/state but within the same nation as the main office does not qualify for an LEI as only one LEI per country is allowed at present.

A Legal Entity is not required to maintain Good Standing to be granted an LEI, but it MUST remain ACTIVE to be eligible for the LEI application.

Whether you are steering a multinational corporation, leading a non-profit, pioneering as a sole proprietor, expanding through international branches, or managing funds and trusts, the LEI opens the door to a realm of possibilities. It’s a step towards establishing a distinct, credible presence in the global marketplace, fostering trust, and facilitating smoother transactions and partnerships across the globe.

Benefits when applying for an LEI with LEIpapa

  • LEIs are issued by RapidLEI, the world’s largest issuer of LEI Codes for verified organizations.
  • Management of all your LEIs in one application without a monthly fee.
  • Web 3.0 certificate for your entity (additional service).

Global Recognition Through RapidLEI

LEIpapa’s collaboration with RapidLEI ensures that entities receive LEI codes that are globally recognized and respected. RapidLEI’s streamlined process and robust verification mechanisms mean that your business is not just another number in the registry, but a verified entity participating in the global marketplace. This partnership guarantees that your LEI code is issued by an authority trusted worldwide, enhancing your entity’s credibility and visibility on an international scale.

Simplified Management of LEIs

One of the standout features of LEIpapa is the ability to manage all your LEIs in one web application without the hassle of a monthly fee. This centralized approach to LEI management is a game-changer for businesses with multiple entities or those who need to maintain their LEI codes without the burden of additional costs and the mess in email mailboxes (like when registering an LEI through email communication). LEIpapa’s user-friendly platform ensures that your LEI management is streamlined and efficient, freeing up valuable resources to focus on your core business operations.

Web 3.0 Certificate: Elevating Your Entity’s Digital Presence

In addition to issuing LEIs, LEIpapa goes a step further by offering an additional service: a Web 3.0 certificate for your entity. This innovative service places your business at the cutting edge of digital identity, leveraging the latest in blockchain technology to provide a secure, immutable certificate of your entity’s identity on Web 3.0. This not only fortifies your digital presence but also signals to partners, investors, and regulators that your entity is forward-thinking and committed to leveraging the latest technologies for enhanced transparency and security.

The benefits of applying for an LEI with LEIpapa are clear and compelling. From global recognition with RapidLEI, simplified management of LEIs, to the innovative Web 3.0 certificate, LEIpapa provides a comprehensive suite of services that empower your entity to navigate the complexities of the digital and financial landscapes with confidence and credibility.


What is a Good Standing?

“Good Standing” is a term commonly used in business and legal contexts to indicate that a company or other entity is operating in compliance with all applicable laws and regulations. This typically means that the entity has filed all necessary paperwork, paid all relevant fees and taxes, and met any other legal requirements mandated by the jurisdiction in which it operates. In some jurisdictions, it is possible to obtain a Good Standing certificate (usually valid for 1 year) confirming the relevant status of the company.

In the context of a business registry, a company that is in Good Standing status has typically kept its registration information up to date and completed any necessary annual filings. The specific requirements to maintain Good Standing can vary depending on the jurisdiction and the nature of the entity. Failure to maintain Good Standing can have various consequences, potentially including fines, penalties, or even the dissolution of the entity.

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