How to obtain an LEI
How to obtain a Legal Entity Identifier
Even if you are not legally required to get an LEI there are many benefits associated with having a Legal Entity Identifier. For this reason many are turning to the LEI though they may not be required to. And since the LEI system is on its way to becoming a global standard it is a good idea to obtain an LEI number before you need it.
Read on to learn more about how to obtain an LEI number for a British Virgin Islands entity.
How do I obtain an LEI number?
LEI numbers are available through Local Operating Units (LOUs). A Local Operating Unit, also referred to as a LEI issuing organization, is an organization accredited by GLEIF (Global Legal Entity Identifier) or endorsed by the ROC (Regulatory Oversight Committee). The LOU issues LEI numbers to legal entities.
However, in order to streamline the issuance of LEI numbers GLEIF has introduced the concept of “Registration Agent.” This makes it easier for legal entities to access LOUs and get an LEI issued.
What is a Registration Agent?
A Registration Agent can help you with everything you need related to how to obtain an LEI number. The Registration Agent’s role is to assist legal entities to access LEI issuing organizations. The Registration Agent partners with one or more LOUs and ensures that its clients’ needs for LEI services are met.
LEI Service is a Registration Agent. This means that we make it easy for you to access LOUs and get an LEI number issued. We take care of the application process and manage communications with the legal entity. We also securely process and receive payment when an LEI number is issued or renewed.
We make sure that getting an LEI code is fast, easy and affordable.
Do you have any queries about our work? Email us at info@leiservice.com to learn more. Our English-speaking customer service will answer any questions you may have.
How to obtain a Legal Entity Identifier: the application
Do you need an LEI number for your British Virgin Island entity? LEI Service makes it easy for you to get an LEI number issued.
You can apply for a new LEI number here.
All you need to do to get started is enter your company name and basic entity reference which you enter here. After entering the reference data you have to select the LEI duration and pay for the application—all that is left for you to do is wait. You will receive your new LEI number within 6 to 48 hours usually.
We may require you to send some extra documents - e.g. Certificate of Incorporation or Registered Agent Certificate or Register of Directors.
How how to get a Legal Entity Identifier renewed
Now you know how to obtain an LEI. But LEI numbers also require annual renewal to ensure that all information is updated and correct. LEI Service can help you renew an existing LEI number from another Registration Agent. We also offer the option of automatic LEI renewal.
Click here to transfer and renew an existing LEI number.
How long does it take for my LEI to be registered?
Usually within 48 hours - the British Virgin Island process is a bit more manual compared to other countries.
As banks and the global register update and collect LEI information daily please note that it may take up to 24 hours before your new LEI number is visible in the global GLEIF register.
Check your LEI with LEI lookup
If you need to check that your LEI information is up to date in the global LEI system or you want to look up the LEI information of another legal entity, you can use the GLEIF LEI lookup.
Click here to search the GLEIF database for the information you are looking for.