Legal Entity Identifier (LEI)
A Legal Entity Identifier (LEI) is a 20-character alphanumeric code, defined by ISO 17442, that identifies a legal entity in financial transactions worldwide. Each LEI links to public reference data about the company, such as its legal name, registered address and, where reported, its parent companies.
How the LEI system works
The Global Legal Entity Identifier Foundation (GLEIF) runs the system and publishes all LEI data free of charge. GLEIF doesn't issue codes itself. Accredited issuers, called Local Operating Units (LOUs), assign LEIs and check the data against official registers. A company can choose any accredited LOU, whatever its home country.The code has three parts: four characters identifying the issuing LOU, 14 characters specific to the entity, and two check digits.
Who needs an LEI
An LEI is mandatory in some areas and optional in most. In the EU, you need one to:- trade securities through an investment firm, under MiFID II ("no LEI, no trade")
- report derivatives under EMIR
- issue securities admitted to trading on a regulated market
Renewal and lapsed LEIs
An LEI must be re-validated at least once a year. If the renewal is missed, the status changes to "lapsed". The code still exists and still identifies the company, but counterparties can't rely on its data being current, and regulated trading may be blocked until it's renewed.FAQ
Search by name or registration number on GLEIF's public search at search.gleif.org.
No. Each legal entity should have exactly one. Duplicates are merged when found.
Individuals acting as sole traders can get one in many countries, but they rarely need one unless they trade securities.
No. Those are national identifiers. The LEI is global and the same for every counterparty.
Related terms and sources
ISO 20022 · Know your business · Ultimate beneficial owner · BIC code · Browse the full glossary
Last reviewed October 21, 2026Disclaimer
This publication is provided for general information purposes and does not constitute legal, tax, or other professional advice from Narvi Payments Oy Ab or its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
This publication is provided for general information purposes and does not constitute legal, tax, or other professional advice from Narvi Payments Oy Ab or its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
What We Offer
IBAN Accounts For Your Business
Support & Compliance
Narvi Knowledge Center
Alternative Investment Funds [whitepaper]Family Offices [whitepaper]Shipping Industry [whitepaper]How to Open a Business Account in FinlandNarvi vs. Wise, Revolut, N26, and other alternativesNarvi vs. Stable.comNarvi vs. payabl.Narvi vs. ConnectPayNarvi vs. IBAN4UNarvi vs. GenomePayments BlogPayments Glossary
Narvi Payments Oy Ab is an Authorized Electronic Money Institution (EMI). Narvi’s EMI license is granted by the Finnish Financial Supervisory Authority (FIN FSA) with the registration number 3190214-6. Narvi’s license is passportised to all European Union countries.
Built and regulated in Finland© 2026 Narvi. All Rights Reserved.
v1.322.0