LEI number is a 20-character alphanumeric code that is used to identify parties in financial transactions. The LEI system is worldwide and each issued LEI number is inserted in the global GLEIF database that is publicly accessible for everyone.
The LEI system is following a cost coverage principal and is self-supporting. This means that the LEI number price is mostly related to all the costs that are needed to cover when issuing an LEI or LEI renewal costs. As there are different service providers, the LEI costs will also vary and one year costs are ranging between 3,950 – 9,750 ₹.
3 main triggers affecting LEI prices:
As the LEI price can fluctuate a lot between different service providers, the cost structure can be also different, but LEI price consists of 3 main aspects:
1. GLEIF fee – each issued LEI is subject to a fee paid to the GLEIF to manage and develop the LEI system.
2. LOU fee – LOU fee needs to follow the cost-coverage principal and needs to cover all the application processing costs, IT and legal costs.
3. Registration Agents fee – LEI Registration agents are covering most of the advertising and application processing costs.
Putting all these 3 cost categories together, we get the LEI number price that India LEI has starting from 4,495 ₹ /year.
LEI renewal cost
As the LEI renewal process for company data checks is quite similar for issuing an LEI, the LEI renewal cost is fluctuating in the same range. In order to get a better yearly price for your LEI, it is possible pay all the LEI costs in advance for a longer period of time, for example 5-year period. This way the total cost is cheaper and you also do not need to hassle with the payments every year.
Within the recent years, LEI registration price and LEI renewal costs have been quite stable as there has not been major changes in the LEI pricing models. India LEI has managed to slightly lower the fees due to stronger customer base and better brand awareness. The more active LEIs will be issued globally, the bigger is the chance for cheaper LEI prices in the future.